Automobile tech company Indie Semiconductor reported third-quarter revenue of $54 million, in line with analysts’ estimates, while the loss per share widened to 28 cents from 12 cents in the same period a year earlier.
The year-over-year strategic backlog increased 12% to $7.1 billion.
“Our continued design-win momentum has been broad across our extensive product portfolio, particularly in vision and radar, which now comprise over 72% of our strategic backlog,” Donald McClymont, Indie’s co-founder and chief executive officer, said in a statement releasing the earnings.
The Aliso Viejo-based company (Nasdaq: INDI) projects fourth-quarter revenue of $58 million at the midpoint, which would be below analysts’ expectations of $59 million.
Shares of Indie Semiconductor rose 5.8% to $3.63 apiece in after-hours trading, after closing down 1.7% for a market cap of $615 million.
