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  Title	indie Semiconductor Reports Fourth Quarter 2024 Earnings
  ID	7161368
  External ID	213000747
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  Published Date	Feb. 20, 2025, 9:30 p.m.
  Summary	Unlock stock picks and a broker-level newsfeed that powers Wall Street. Upgrade Now indie Semiconductor Reports Fourth Quarter 2024 Earnings Business Wire Thu, Feb 20, 2025, 6:30 PM 22 min read In Thi
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  Content ID	4491668
  Key	472afad8-0828-4891-a9d4-2e1de1ab05cd
  Content	Unlock stock picks and a broker-level newsfeed that powers Wall Street. Upgrade Now indie Semiconductor Reports Fourth Quarter 2024 Earnings Business Wire Thu, Feb 20, 2025, 6:30 PM 22 min read In This Article: INDI -13.68% Delivers Q4 2024 Revenue of $58.0M, up 7.5% sequentially, with Non-GAAP Gross Margin of 50.4% Prospects for indie remain positive throughout 2025, underpinned by strong design win momentum and key program status despite challenging automotive market environment ALISO VIEJO, Calif., February 20, 2025 --( BUSINESS WIRE )--indie Semiconductor, Inc. (Nasdaq: INDI), an automotive solutions innovator, today announced fourth quarter results for the period ended December 31, 2024. Fourth quarter 2024 revenue increased 7.5% sequentially to $58.0 million, at the mid-point of the outlook with Non-GAAP gross margin sequentially flat at 50.4 percent. On a GAAP basis, fourth quarter 2024 operating loss was $33.9 million compared to $21.6 million a year ago. Non-GAAP operating loss for the fourth quarter of 2024 was $14.2 million, versus $2.4 million during the same period last year. Fourth quarter 2024 GAAP loss per share was $0.18, while Non-GAAP loss per share was $0.07. "In Q4, indie delivered growth despite a challenging market backdrop," said Donald McClymont, indie's co-founder and chief executive officer. "This resilient business performance is a testament to our class-leading, highly differentiated product portfolio, our relentless focus on our key target markets and our unique customer relationships. This technology leadership position will also ensure that we drive growth throughout 2025 and beyond," added McClymont. Business Highlights Flagship ADAS programs on track for second half 2025 initial volume shipments Secured design win for Vision processor with large Korean OEM for front sensing and interior monitoring Captured new design-wins for Vision processor with multiple Chinese OEMs for multi-channel applications such as eMirror Validated performance of initial samples of 120 GHz radar solution for in-cabin occupant monitoring Achieved ASIL-D certification (the highest level of functional safety) for electrification ASIC Commenced turnkey optical component integration capability for automotive and mobility applications Q1 2025 Outlook We provide guidance on a non-GAAP basis only because certain information necessary to reconcile such results and guidance to GAAP is difficult to estimate and dependent on future events outside of our control and, therefore, is not available without unreasonable efforts. Please refer to the header captioned "Discussion Regarding the Use of Non-GAAP Financial Measures" in this release for a further discussion of our use of non-GAAP measures. With the backdrop of increased market uncertainty, causing slower than anticipated production ramps for the first quarter of 2025, indie expects revenue between $52.5 and $57.5 million or $55 million at the mid-point, down 5.2% sequentially and an increase of 5.1% year over year, with Non-GAAP gross margin between 49% and 50%. Given indie’s multiple new products ramping throughout 2025, the outlook remains positive. Story Continues indie’s Q4 2024 Conference Call indie Semiconductor will host a conference call with analysts to discuss its fourth quarter 2024 results and business outlook today February 20, 2025 at 5:00 p.m. Eastern time. To listen to the conference call via the Internet, please go to the Financials tab on the Investors page of indie’s website to listen to the conference call via telephone, please call (877) 451-6152 (domestic) or (201) 389-0879 (international), Conference ID: 13750526. A replay of the conference call will be available beginning at 9:00 p.m. Eastern time on February 20, 2025, until 11:59 p.m. Eastern time on March 6, 2025, under the Financials tab on the Investors page of indie’s website, or by calling (844) 512-2921 (domestic) or (412) 317-6671 (international), Access ID: 13750526. About indie Headquartered in Aliso Viejo, CA, indie is empowering the automotive revolution with next generation semiconductors, photonics and software platforms. We focus on developing innovative, high-performance and energy-efficient technology for ADAS, in-cabin user experience and electrification applications. Our mixed-signal SoCs enable edge sensors spanning Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded system control, power management and interfacing solutions transform the in-cabin experience and accelerate increasingly automated and electrified vehicles. As a global innovator, we are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs worldwide. Please visit us at www.indie.inc to learn more. Safe Harbor Statement This communication contains "forward-looking statements" (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements can be identified by words such as "will likely result," "expect," "anticipate," "estimate," "believe," "intend," "plan," "project," "outlook," "should," "could," "may" or words of similar meaning and include, but are not limited to, statements regarding our future business and financial performance and prospects, including statements regarding general and automotive market conditions, expectations regarding our multiple product ramps in 2025 and our belief that we will drive growth throughout 2025 and beyond. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results included in such forward-looking statements. In addition to the factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on February 29, 2024 (and as amended by Amendment No. 1 to the Form 10-K filed with the SEC on March 20, 2024) and in our other public reports filed with the SEC (including those identified under "Risk Factors" therein), the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: macroeconomic conditions, including inflation, rising interest rates and volatility in the credit and financial markets, our reliance on contract manufacturing and outsourced supply chain and the availability of semiconductors and manufacturing capacity; competitive products and pricing pressures; our ability to win competitive bid selection processes and achieve additional design wins; the impact of recent acquisitions made and any other acquisitions we may make, including our ability to successfully integrate acquired businesses and risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; our ability to develop, market and gain acceptance for new and enhanced products and expand into new technologies and markets; current and potential trade restrictions and trade tensions, including the recent trade and tariff actions taken or proposed by the US government affecting the countries where we operate and political or economic instability in our target markets. All forward-looking statements in this press release are expressly qualified in their entirety by the foregoing cautionary statements. Investors are cautioned not to place undue reliance on the forward-looking statements in this press release, which information set forth herein speaks only as of the date hereof. We do not undertake, and we expressly disclaim, any intention or obligation to update any forward-looking statements made in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law. #indieSemi_Earnings INDIE SEMICONDUCTOR, INC. PRELIMINARY CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except share and per share amounts) (Unaudited) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Revenue: Product revenue 53,826 63,153 202,698 195,624 Contract revenue 4,183 6,980 13,984 27,545 Total revenue 58,009 70,133 216,682 223,169 Operating expenses: Cost of goods sold 33,313 42,236 126,373 133,606 Research and development 38,254 34,281 175,112 154,507 Selling, general, and administrative 20,328 15,187 80,945 70,479 Restructuring costs 10 — 4,332 — Total operating expenses 91,905 91,704 386,762 358,592 Loss from operations (33,896 ) (21,571 ) (170,080 ) (135,423 ) Other income (expense), net: Interest income 1,209 1,654 4,588 7,801 Interest expense (2,838 ) (2,116 ) (9,258 ) (8,650 ) Gain from change in fair value of warrants — 13,692 — 7,066 Gain (loss) from change in fair value of contingent considerations and acquisition-related holdbacks 874 (7,193 ) 29,041 (2,985 ) Other expense (302 ) (912 ) (400 ) (1,175 ) Total other income (loss), net (1,057 ) 5,125 23,971 2,057 Net loss before income taxes (34,953 ) (16,446 ) (146,109 ) (133,366 ) Income tax benefit (provision) (340 ) 1,820 998 4,534 Net loss (35,293 ) (14,626 ) (145,111 ) (128,832 ) Less: Net income (loss) attributable to noncontrolling interest (1,867 ) 29 (11,664 ) (11,207 ) Net loss attributable to indie Semiconductor, Inc. (33,426 ) (14,655 ) (133,447 ) (117,625 ) Net loss attributable to common shares — basic (33,426 ) (14,655 ) (133,447 ) (117,625 ) Net loss attributable to common shares — diluted (33,426 ) (14,655 ) (133,447 ) (117,625 ) Net loss per share attributable to common shares — basic $ (0.18 ) $ (0.09 ) $ (0.76 ) $ (0.81 ) Net loss per share attributable to common shares — diluted $ (0.18 ) $ (0.09 ) $ (0.76 ) $ (0.81 ) Weighted average common shares outstanding — basic 185,682,996 159,996,055 175,029,650 145,188,867 Weighted average common shares outstanding — diluted 185,682,996 159,996,055 175,029,650 145,188,867 INDIE SEMICONDUCTOR, INC. PRELIMINARY CONSOLIDATED BALANCE SHEETS (Amounts in thousands) (Unaudited) December 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 274,248 $ 151,678 Restricted cash 10,300 — Accounts receivable, net 52,005 63,602 Inventory, net 49,887 33,141 Prepaid expenses and other current assets 22,308 23,399 Total current assets 408,748 271,820 Property and equipment, net 34,281 26,966 Intangible assets, net 208,944 208,134 Goodwill 266,368 295,096 Operating lease right-of-use assets 16,107 13,790 Other assets and deposits 6,938 3,070 Total assets $ 941,386 $ 818,876 Liabilities and stockholders' equity Accounts payable $ 28,326 $ 18,405 Accrued payroll liabilities 5,573 6,621 Contingent considerations 3,589 83,903 Accrued expenses and other current liabilities 30,188 21,411 Intangible asset contract liability 5,875 4,429 Current debt obligations 12,220 4,106 Total current liabilities 85,771 138,875 Long-term debt, net of current portion 369,097 156,735 Intangible asset contract liability, net of current portion 11,965 — Deferred tax liabilities, non-current 11,660 13,696 Operating lease liability, non-current 14,278 10,850 Other long-term liabilities 4,111 21,695 Total liabilities $ 496,882 $ 341,851 Commitments and contingencies Stockholders' equity Preferred stock $ — $ — Class A common stock 19 16 Class V common stock 2 2 Additional paid-in capital 936,563 813,742 Accumulated deficit (494,888 ) (361,441 ) Accumulated other comprehensive loss (24,622 ) (6,170 ) indie's stockholders' equity 417,074 446,149 Noncontrolling interest 27,430 30,876 Total stockholders' equity 444,504 477,025 Total liabilities and stockholders' equity $ 941,386 $ 818,876 INDIE SEMICONDUCTOR, INC. RECONCILIATION OF PRELIMINARY NON-GAAP MEASURES TO GAAP (Unaudited) GAAP refers to financial information presented in accordance with U.S. Generally Accepted Accounting Principles. This press release includes non-GAAP financial measures, as defined in Regulation G promulgated by the Securities and Exchange Commission. We believe that our presentation of non-GAAP financial measures provides useful supplementary information to investors. The presentation of non-GAAP financial measures is not meant to be considered in isolation from or as a substitute for results prepared in accordance with GAAP. The reconciliations of our preliminary GAAP to non-GAAP measures are as follows (in thousands, except share and per share amounts): Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Computation of non-GAAP gross margin: GAAP revenue $ 58,009 $ 70,133 $ 216,682 $ 223,169 GAAP cost of goods sold 33,313 42,236 126,373 133,606 Acquisition-related expenses (646 ) (5,983 ) (1,340 ) (11,967 ) Amortization of intangible assets (3,732 ) (1,580 ) (16,323 ) (12,509 ) Inventory cost realignments — (1,413 ) (145 ) (2,778 ) Share-based compensation (164 ) (111 ) (1,012 ) (360 ) Non-GAAP gross profit $ 29,238 $ 36,984 $ 109,129 $ 117,177 Non-GAAP gross margin 50.4 % 52.7 % 50.4 % 52.5 % Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Computation of non-GAAP operating loss: GAAP loss from operations $ (33,896 ) $ (21,571 ) $ (170,080 ) $ (135,423 ) Acquisition-related and other non-recurring professional expenses 1,648 8,538 5,596 19,417 Amortization of intangible assets 5,786 2,834 25,645 20,566 Inventory cost realignments — 1,413 145 2,778 Share-based compensation 12,258 6,371 68,997 44,082 Restructuring costs 10 — 4,332 — Non-GAAP operating loss $ (14,194 ) $ (2,415 ) $ (65,365 ) $ (48,580 ) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Computation of non-GAAP net loss: Net loss $ (35,293 ) $ (14,626 ) $ (145,111 ) $ (128,832 ) Acquisition-related and other non-recurring professional expenses 1,648 8,538 5,596 19,417 Amortization of intangible assets 5,786 2,834 25,645 20,566 Inventory cost realignments — 1,413 145 2,778 Share-based compensation 12,258 6,371 68,997 44,082 Restructuring costs 10 — 4,332 — Gain from change in fair value of warrants — (13,692 ) — (7,066 ) (Gain) loss from change in fair value of contingent considerations and acquisition-related holdbacks (874 ) 7,193 (29,041 ) 2,985 Other expense 302 912 400 1,175 Non-cash interest expense 409 274 1,172 995 Income tax benefit (provision) 340 (1,820 ) (998 ) (4,534 ) Non-GAAP net loss $ (15,414 ) $ (2,603 ) $ (68,863 ) $ (48,434 ) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Computation of Non-GAAP EBITDA: Net loss $ (35,293 ) $ (14,626 ) $ (145,111 ) $ (128,832 ) Interest income (1,209 ) (1,654 ) (4,588 ) (7,801 ) Interest expense 2,838 2,116 9,258 8,650 Gain from change in fair value of warrants — (13,692 ) — (7,066 ) (Gain) loss from change in fair value of contingent considerations and acquisition-related holdbacks (874 ) 7,193 (29,041 ) 2,985 Other expenses 302 912 400 1,175 Income tax benefit (provision) 340 (1,820 ) (998 ) (4,534 ) Depreciation and amortization 7,673 4,286 32,489 25,134 Stock-based compensation 12,258 6,371 68,997 44,082 Inventory cost realignments — 1,413 145 2,778 Acquisition-related and other non-recurring professional expenses 1,648 8,538 5,596 19,417 Restructuring costs 10 — 4,332 — Non-GAAP EBITDA $ (12,307 ) $ (963 ) $ (58,521 ) $ (44,012 ) Three Months Ended December 31, 2024 Computation of non-GAAP share count: Weighted Average Class A common stock - Basic 185,682,996 Weighted Average Class V common stock - Basic 17,671,247 Escrow Shares 1,725,000 TeraXion Unexercised Options 627,663 Non-GAAP share count 205,706,906 Non-GAAP net loss $ (15,414 ) Non-GAAP net loss per share $ (0.07 ) Discussion Regarding the Use of Non-GAAP Financial Measures Our earnings release contains some or all of the following financial measures that have not been calculated in accordance with United States Generally Accepted Accounting Principles ("GAAP"): (i) non-GAAP gross profit and gross margin, (ii) non-GAAP operating loss, (iii) non-GAAP net loss, (iv) non-GAAP EBITDA, (v) non-GAAP share count, (vi) non-GAAP net loss and (vii) non-GAAP net loss per share. As set forth in the tables above, we derive such non-GAAP financial measures by excluding certain expenses and other items from the respective GAAP financial measure that is most directly comparable to each non-GAAP financial measure. Management may use these non-GAAP financial measures to, amongst other things, evaluate operating performance and compare it against past periods or against peer companies, make operating decisions, forecast for future periods and to determine payments under compensation programs. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by eliminating certain expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods and competitors more difficult, obscure trends in ongoing operations or improve management’s ability to forecast future periods. We provide investors with non-GAAP gross profit and gross margin, non-GAAP operating loss, non-GAAP net loss and non-GAAP net loss per share because we believe it is important for investors to be able to closely monitor and understand changes in our ability to generate income from ongoing business operations. We believe these non-GAAP financial measures give investors an additional method to evaluate historical operating performance and identify trends, an additional means of evaluating period-over-period operating performance and a method to facilitate certain comparisons of our operating results to those of our peer companies. We further believe these non-GAAP financial measures allow investors to assess the overall financial performance of our ongoing operations by eliminating the impact of (i) acquisition-related and other non-recurring professional expenses (including acquisition-related or other non-recurring professional fees and legal expenses, deemed compensation expense and expenses recognized in relation to changes in contingent consideration obligations), (ii) amortization of acquisition-related intangibles and certain license rights, (iii) inventory cost realignments, (iv) gains or losses recognized in relation to changes in the fair value of warrants, contingent considerations issued by indie, acquisition-related holdbacks and unrealized gains or losses from currency hedging contracts, (v) non-cash interest expenses related to the amortization of debt discounts and issuance costs, (vi) share-based compensation, and (vii) income tax benefit (expenses). We believe that disclosing these non-GAAP financial measures contributes to enhanced financial reporting transparency and provides investors with added clarity about complex financial performance measures. We do not report a GAAP measure of gross profit or gross margin because certain costs related to contract revenues are expensed as incurred and included in research and development expenses, and not in cost of sales, as it is not practicable for us to bifurcate these expenses. We derive and reconcile non-GAAP gross profit from the most relevant GAAP financial measures by subtracting GAAP cost of sales, adjusted for acquisition-related and other non-recurring professional expenses and share-based compensation, from GAAP revenue. We calculate non-GAAP operating loss by excluding from GAAP operating loss, any (i) acquisition-related and other non-recurring professional expenses (including acquisition-related or other non-recurring professional fees and legal expenses, deemed compensation expense and expenses recognized in relation to changes in contingent consideration obligations), (ii) amortization of acquisition-related intangibles and certain license rights, (iii) inventory cost realignments and (iv) share-based compensation. We calculate non-GAAP net loss by excluding from GAAP net income (loss), any (i) acquisition-related and other non-recurring professional expenses (including acquisition-related or non-recurring professional fees and legal expenses, deemed compensation expense and expenses recognized in relation to changes in contingent consideration obligations), (ii) amortization of acquisition-related intangibles and certain license rights, (iii) inventory cost realignments, (iv) gains or losses recognized in relation to changes in the fair value of warrants, contingent considerations issued by indie, acquisition-related holdbacks and unrealized gains or losses from currency hedging contracts, (v) non-cash interest expenses related to the amortization of debt discounts and issuance costs, (vi) share-based compensation, and (vii) income tax benefit (expenses). We calculate non-GAAP EBITDA by excluding from GAAP net income (loss), any (i) acquisition-related and other non-recurring professional expenses (including acquisition-related or non-recurring professional fees and legal expenses, deemed compensation expense and expenses recognized in relation to changes in contingent consideration obligations), (ii) amortization of acquisition-related intangibles and certain license rights, (iii) depreciation of fixed assets, (iv)inventory cost realignments, (v) gains or losses recognized in relation to changes in the fair value of warrants, contingent considerations issued by indie, acquisition-related holdbacks and unrealized gains or losses from currency hedging contracts, (vi) non-cash interest expenses related to the amortization of debt discounts and issuance costs, (vii) share-based compensation, and (viii) income tax benefit (expenses). We calculate non-GAAP share count by adding (i) weighted average Class A common stock, (ii) weighted average Class V common stock held by minority shareholders, which are exchangeable into Class A common stock, (iii) Escrow Shares and (iv) vested but unexercised options issued as part of the TeraXion acquisition. Non-GAAP net loss per share is calculated by dividing non-GAAP net loss by non-GAAP share count. We exclude the items identified above from the respective non-GAAP financial measure referenced above for the reasons set forth with respect to each such excluded item below: Acquisition-related and other non-recurring professional expenses - including such items as, when applicable, fair value charges incurred upon the sale of acquired inventory, accounting impact to the cost of goods sold due to one-time inventory costing realignment with a specific supplier, acquisition-related professional fees and legal expenses and other professional fees that are non-recurring in nature because they are not considered by management in making operating decisions and we believe that such expenses do not have a direct correlation to our future business operations and thereby including such charges do not necessarily reflect the performance of our ongoing operations for the period in which such charges or reversals are incurred. Amortization expenses - related to the amortization expense for acquired intangible assets and certain license rights. Depreciation expenses - related to the depreciation expenses for all property and equipment on hand. Inventory cost realignments - related to the supplier allocation premiums introduced during COVID that is currently incorporated in our inventory cost but have since been eliminated going forward. The impact of this premium is deemed non-recurring and therefore not considered by management in its evaluation of the ongoing performance of the business. Share-based compensation - related to the non-cash compensation expense associated with equity awards granted to our employees (including those granted in lieu of cash compensation) and employer tax related to employee stock transactions. These expenses are not considered by management in making operating decisions and such expenses do not have a direct correlation to our future business operations. Restructuring costs - related to the one-time expenses the Company incurs to reorganize its operations, which is primarily related to workforce reduction, facilities and other purchase commitment charges. Gain (loss) from change in fair values - because these adjustments (1) are not considered by management in making operating decisions, (2) are not directly controlled by management, (3) do not necessarily reflect the performance of our ongoing operations for the period in which such charges are recognized and (4) cannot make comparisons between peer company performance less reliable. Non-cash interest expense - related to the amortization of debt discounts and issuance costs because (1) these expenses are not considered by management in making decision with respect to financing decisions, and (2) these generally reflect non-cash costs. Income tax benefit (expense) - related to the estimated income tax benefit (expense) that does not result in a current period tax refunds (payments). The non-GAAP financial measures presented should not be considered in isolation and are not an alternative for the respective GAAP financial measure that is most directly comparable to each such non-GAAP financial measure. Investors are cautioned against placing undue reliance on these non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures to arrive at these non-GAAP financial measures. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures are likely to have limited value for purposes of drawing comparisons between companies as a result of different companies potentially calculating similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP EBITDA is calculated by removing non-recurring, irregular and one-time items that may distort EBITDA, to the current non-GAAP financial measures. We calculate non-GAAP EBITDA by excluding from GAAP net income (loss), any (i) acquisition-related and other non-recurring expenses (including acquisition-related or other non-recurring professional fees and legal expenses, deemed compensation expense and expenses recognized in relation to changes in contingent consideration obligations), (ii) amortization of acquisition-related intangibles and certain license rights, (iii) depreciation of property, plant and equipment, (iv) inventory cost realignments, (v) gains or losses recognized in relation to changes in the fair value of warrants, contingent considerations issued by indie, acquisition-related holdbacks and unrealized gains or losses from currency hedging contracts, (vi) non-cash interest expenses related to the amortization of debt discounts and issuance costs, (vii) share-based compensation, and (viii) income tax benefit (expenses). To the extent our disclosures contain forward-looking estimates of non-GAAP financial measures, such as our forward-looking outlook for non-GAAP EBITDA, these measures are provided to investors on a prospective basis for the same reasons (set forth above) we provide them to investors on a historical basis. We are generally unable to provide a reconciliation of our forward-looking non-GAAP measures because certain information needed to make a reasonable forward-looking estimate of such non-GAAP measures are difficult to predict and estimate and is often dependent on future events that may be uncertain or outside of our control and, therefore, is not available without unreasonable efforts. Such events may include unanticipated changes in our GAAP effective tax rate, unanticipated one-time charges related to asset impairments (fixed assets, inventory, intangibles, or goodwill), unanticipated acquisition-related and other non-recurring professional expenses, unanticipated settlements, gains, losses and impairments and other unanticipated items not reflective of ongoing operations. Our forward-looking estimates of both GAAP and non-GAAP measures of our financial performance may differ materially from our actual results and should not be relied upon as statements of fact. View source version on businesswire.com: https://www.businesswire.com/news/home/20250220991801/en/ Contacts Media Inquiries media@indiesemi.com Investor Relations ir@indiesemi.com View Comments Terms and Privacy Policy Privacy Dashboard More Info Recommended Stories
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