Mon, Mar 3, 11:12 AM (49 days ago)
**Summary of indie Semiconductor, Inc. (INDI) 10-K for Fiscal Year Ended December 31, 2024** Indie Semiconductor, Inc. reported total revenue of $216.7 million for FY 2024, a 3% decrease from $223.2 million in FY 2023, primarily due to a significant drop in contract revenue. Product revenue increased by 4% to $202.7 million, driven by acquisitions and changes in product mix. Operating expenses rose 8% to $386.8 million, with R&D expenses accounting for 81% of revenue, reflecting a strategic focus on innovation in automotive semiconductors. The net loss for 2024 was $144.2 million, compared to a loss of $128.8 million in 2023, impacted by restructuring costs and increased operational expenditures. Indie completed several acquisitions, including Kinetic Technologies, which added $3.2 million in cash consideration and contingent payments, and GEO Semiconductor, which contributed significantly to product offerings. The company holds $284.5 million in cash and equivalents, bolstered by $209.3 million from financing activities, including the issuance of convertible senior notes. Risks include reliance on a limited customer base, macroeconomic volatility, and geopolitical tensions affecting supply chains. The firm remains committed to expanding its market presence in the automotive sector, targeting growth in ADAS and electrification technologies.