Stock Track | Indie Semiconductor Soars After-Hours on Strong Q3 Results, Upbeat Q4 Guidance

Stock Track11-08

Shares of Indie Semiconductor Inc. (NASDAQ: INDI) surged 6.41% in after-hours trading on Tuesday after the company reported better-than-expected third-quarter 2024 results and provided an optimistic outlook for the current quarter.

The automotive semiconductor solutions provider reported Q3 2024 revenue of $54.0 million, up 3.1% sequentially and exceeding consensus estimates. Non-GAAP gross margin improved to 50.4%, driven by the company's innovative product portfolio and robust demand.

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. The company attributed the growth to strong momentum in advanced driver-assistance systems (ADAS) design wins, particularly in vision and radar solutions.

For the fourth quarter of 2024, Indie Semiconductor expects revenue to increase by more than 7% sequentially at the midpoint of $58.0 million, outpacing industry growth. The company anticipates a return 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 6.41% in after-hours trading on Tuesday after the company reported better-than-expected third-quarter 2024 results and provided 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":"1163697373","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1163697373","pubTimestamp":1731017191,"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 6.41% in after-hours trading on Tuesday after the company reported better-than-expected third-quarter 2024 results and provided an optimistic outlook for the current quarter.The automotive semiconductor solutions provider reported Q3 2024 revenue of $54.0 million, up 3.1% sequentially and exceeding consensus estimates. 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