Automobile tech company Indie Semiconductor Inc. (Nasdaq: INDI) said first-quarter revenue rose 84% year-over-year to $40.5 million, above analysts’ estimates, while reiterating it will be profitable in the second half of the year.
The net loss widened to $82 million for the quarter from a $13.7 million gain in the same period a year ago.
Aliso Viejo-based Indie, which makes semiconductor chips for vehicles, said it expects its second quarter “to scale to a $205-$210 million annualized run rate.”
After the results, Indie shares were little changed from the close at $8.04; it currently has a $1.1 billion market cap.
