Stock Track | Indie Semiconductor Soars 13% on Robust Q3 Results, Upbeat Outlook, and ADAS Design Win Momentum

Stock Track11-08

Shares of Indie Semiconductor Inc. (NASDAQ: INDI) surged 13.12% in a 24-hour period on November 7, 2024, driven by the company's impressive third-quarter 2024 financial performance, an optimistic outlook for the current quarter, and strong momentum in advanced driver-assistance systems (ADAS) design wins.

In its third-quarter 2024 earnings report, Indie Semiconductor reported revenue of $54.0 million, up 3.1% sequentially and beating analyst estimates. The company's non-GAAP gross margin improved to a robust 50.4%, fueled by its innovative product portfolio and robust demand. Notably, Indie Semiconductor's strategic backlog, representing expected revenue over the next 10 years, expanded to $7.1 billion, up from $6.3 billion a year ago.

Looking ahead, Indie Semiconductor provided an upbeat outlook for the fourth quarter of 2024, anticipating revenue to increase by more than 7% sequentially at the midpoint of $58.0 million, outpacing industry growth. The company also expressed confidence in returning to its industry-leading growth trajectory in 2025 and beyond, backed by continued strong design-win activity for its new radar and vision products.

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(NASDAQ: INDI) surged 13.12% in a 24-hour period on November 7, 2024, driven by the company's impressive third-quarter 2024 financial performance, an optimistic ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"INDI","symbol_name":"Indie Semiconductor Inc.","start_time":0,"source_url":"","article_id":"1108324747","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1108324747","pubTimestamp":1731078433,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Indie Semiconductor Inc.  surged 13.12% in a 24-hour period on November 7, 2024, driven by the company's impressive third-quarter 2024 financial performance, an optimistic outlook for the current quarter, and strong momentum in advanced driver-assistance systems  design wins.In its third-quarter 2024 earnings report, Indie Semiconductor reported revenue of $54.0 million, up 3.1% sequentially and beating analyst estimates. 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