Indie Semiconductor (NASDAQ:INDI) stock is trading higher Thursday after the company reported quarterly financial results after market close.

• Indie Semiconductor shares are climbing with conviction. Why is INDI stock up today?

Here are the key highlights.

Indie Semiconductor Q2 Earnings

Indie Semiconductor reported second-quarter revenue of $64 million, up 24% year-over-year. The revenue total beat a Street consensus estimate of $62.5 million according to data from Benzinga Pro.

The company reported a loss of five cents per share, in line with estimates. The company’s loss improved from $14.5 million to a loss of $8.9 million in this year’s second quarter.

"Momentum continues for our 77GHz radar solution with OEMs spanning North America, Europe and China with new application use cases expanding our addressable market," Indie CEO and co-founder Donald McClymont said.

Customer wins and momentum highlighted the quarterly results, with some of the wins below:

  • The company secured a radar design win with a leading Tier 1 supplier supporting Volvo in the quarter.
  • Indie also secured physical AI design wins with Unitree and Agibot for sensing products in the quarter.
  • The company captured new iND880 vision processor design wins with leading OEMs in China.
  • Record quarter for Quantum bookings, including new customer-funded programs.

What’s Next for Indie

The company is guiding for third-quarter revenue to be in a range of $67 million to $73 million, representing 30% year-over-year growth at the midpoint. The Street estimate is currently $70.4 million according to data from Benzinga Pro.

Of the total revenue, around $40 million is expected to be from the company’s core business and around $30 million from Wuxi indie Micro.

"Coupled with our growing computer vision activity, and our growing presence in Quantum and Physical AI, indie is well positioned to capture these rapidly emerging opportunities and drive disciplined, profitable growth," McClymont said.

Indie Stock Price Action

Indie stock is up 17.2% to $4.02 in after-hours trading Thursday versus a 52-week trading range of $2.32 to $6.05.

Read Also: Indie Semiconductor Analyst Ratings

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