Indie Semiconductor in Aliso Viejo, a maker of automobile technology products, reported second-quarter revenue of $52.1 million, matching analysts’ expectations and more than double the amount in the same period a year earlier.
The net loss for the second quarter widened to $13.6 million from $5.3 million a year earlier.
“For the third quarter of 2023, we intend to scale into a $240 million annualized revenue run-rate, up 100 percent year-over-year,” CFO Thomas Schiller said in today’s earnings release.
Shares in the company rose 1% to $8 apiece for a market cap of $1.1 billion in after-hours trading.
