indie Semiconductor, Inc. (INDI) Stock

indie Semiconductor, Inc. (INDI) is a Technology stock trading at $4.01 (as of 2026-08-20), with a market capitalization of $850.16M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

indie Semiconductor, Inc. develops automotive semiconductors and software used in areas such as advanced driver assistance, connected-vehicle connectivity, in-cabin user experience, and electrification. Its offerings include components for functions like sensing and parking assistance, wireless charging, infotainment and lighting, and telematics, along with photonic products for optical sensing and communications.

Understand indie Semiconductor, Inc.: how it makes money

indie Semiconductor designs automotive semiconductors and software solutions for features like advanced driver assistance systems, connected car, in-cabin wireless charging, infotainment, and electrification, and it also provides photonic components for technologies such as fiber Bragg gratings and low noise lasers. It makes money by selling product revenue, including core automotive-related offerings and revenue associated with Wuxi.

Even with positive gross profit (38.0% gross margin), operating margin is deeply negative (-70.1%), so the profit model right now is dominated by operating expense intensity relative to a small revenue base (0.1B).

Revenue by segment (latest quarter)
Core$0.0B
Wuxi$0.0B
Products$0.1B

Business quality (Weak): The company shows defined product demand signals in radar-related orders and ongoing shipment history, but near-term profitability remains a major concern given the very large operating loss relative to revenue.

Bull case

  • Order visibility in radar: Committed Radar Production Orders are reported at 25,000,000 (count).
  • Ongoing shipment momentum: The company reports cumulative unit shipments of 200,000,000 (count) and cumulative chips shipped of 500,000,000 (count).

Bear case

  • Profitability is currently weak: Operating margin is -70.1% for the latest quarter (2026-03-31).
  • Revenue scale is still small: Revenue is 0.1B, so fixed and operating costs can heavily pressure results.
Valuation — source: SEC EDGAR (first-party)
Price$4.01
Market Cap$850.16M
Price / Book2.64
Price / Sales3.72
FCF Yield-19.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$217.39M
Net Margin-65.8%
Revenue Growth (YoY)-0.0%
EPS Growth (YoY)-11.1%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.07 (distress)
Piotroski F-Score2/9 (weak)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderPRIMECAP MANAGEMENT CO/CA/ ($100.03M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryElectronic Equipment
CEODonald McClymont
Employees920
CountryUS
IPO Date2019-10-04

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INDI earnings history · INDI institutional & insider holders · INDI KPIs & operating metrics · INDI financials · INDI investor presentations & press releases · INDI SEC filings · INDI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.