Automobile tech company Indie Semiconductor Inc. in Aliso Viejo reported fourth-quarter revenue of $70.1 million, below analysts’ expectations. The company’s share price fell 10% in after-hours trading.
The adjusted loss per share was 1 cent, in line with expectations.
Indie (Nasdaq: INDI) said that for the current quarter it expects revenue to be up 38% year-over-year but down 20% on a quarterly basis, “reflecting market seasonality and current industry softness.”
That forecast implies sales around $56 million, below the $76.2 million consensus analyst forecast.
The shares were trading at $6.17 apiece at 5 p.m. in New York, after closing at $6.89 each with an intraday market cap of $1.1 billion.
For further details, see the March 4 print edition of the Business Journal.
