indie Semiconductor (INDI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $64 million, up 24% year-over-year and above guidance midpoint, driven by strong momentum in radar, vision, and photonics portfolios, and expanding global design wins, especially in China, North America, and Europe.

• Achieved global OEM adoption of innovative radar solutions, launched next-generation Edge AI SoC and vision processors, and secured significant design wins in automotive and robotics sectors.

• Pursuing divestiture of Wuxi subsidiary to focus on higher-growth ADAS and physical AI technologies, with Wuxi contributing $28 million in Q2 revenue.

• Recent acquisitions include emotion3D GmbH and a pending CMOS imaging sensor business from ams-OSRAM AG, both expected to strengthen the product portfolio.

• Received industry recognition, including a Supplier Excellence Award from Mahindra for in-cabin AI software.

Financial highlights

• Q2 2026 revenue: $64 million, up 24% year-over-year, exceeding guidance; core business revenue $36 million, Wuxi indie Micro contributed $28 million.

• Non-GAAP operating loss: $8.9 million, improved from $14.5 million year-over-year; GAAP operating loss: $35.1 million, improved from $43.0 million.

• Net loss attributable to shareholders: $37.1 million ($0.17 per share), improved from $39.0 million ($0.20 per share); Non-GAAP net loss: $11.7 million ($0.05 per share).

• Adjusted EBITDA for Q2 2026 was $(6.5) million, improved from $(12.5) million in Q2 2025.

• Cash and equivalents: $149 million as of June 30, 2026, down sequentially due to inventory build and CapEx.

Outlook and guidance

• Q3 2026 revenue expected between $67 million and $73 million, with core business projected at ~$40 million and Wuxi at ~$30 million.

• Non-GAAP operating expenses forecasted at ~$37 million, with net loss per share expected to decrease to ~$0.04.

• CMOS imaging sensor acquisition expected to close in Q3 2026, subject to regulatory approvals.