65.3 F
Laguna Hills
Monday, Jul 15, 2024
-Advertisement-

Indie Semiconductor Sales Jump 84%

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.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-