INDI earnings analysis
What we found in INDI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Indie Semiconductor delivered a stronger Q2 2026, with revenue of $64.009 million up 16.4% sequentially and 23.1% year over year, while EPS of $(0.05) improved substantially and beat consensus. The quarter was within the prior $59 million-$65 million revenue outlook, but the filing does not provide new quantitative guidance. Liquidity was approximately $149.0 million, while foreign-currency exposure worsened, including a $(0.7) million quarterly translation impact and $13.2 million of cumulative translation losses.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Rebounded Strongly
- Q2 2026 revenue was $64.009 million, up from $55 million in Q1 2026 (+16.4%) and $52 million in Q2 2025 (+23.1%). Revenue exceeded the $62.384 million consensus estimate by approximately 2.6%.
- EPS Improved and Beat Estimates
- Reported EPS was $(0.05), improving from $(0.21) in Q1 2026 and $(0.20) in Q2 2025. EPS also exceeded the $(0.07) consensus estimate.
- Liquidity Remains Meaningful
- Cash, cash equivalents and restricted cash totaled approximately $149.0 million as of June 30, 2026, supporting near-term liquidity and investment capacity.
- Controls Remained Effective
- Management stated that disclosure controls and procedures were effective as of June 30, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Foreign Exchange Volatility
- Foreign currency translation produced a $(0.7) million loss in the three months ended June 30, 2026, versus a $1.5 million gain in the year-ago period. Management said international growth will increase exposure and plans to enter into additional currency forward contracts.
- Growing Translation Losses
- Cumulative foreign currency translation losses related to foreign subsidiaries reached $13.2 million at June 30, 2026, up from $5.9 million at June 30, 2025. The filing attributes the increase primarily to translation losses on permanently invested intercompany loans.
- Liquidity Must Fund Operations
- The company’s investment portfolio, consisting principally of cash equivalents and restricted cash, totaled approximately $149.0 million at June 30, 2026. Although management does not view interest-rate exposure as material, preservation of this liquidity is important given the company’s continuing operating-loss profile.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.05
What they said about what is next.
The filing does not provide new quantitative revenue or EPS guidance. Q2 2026 revenue of $64.009 million was within the previously disclosed $59 million-$65 million range; any further outlook appears deferred to the earnings release or call.
The filing reads better than the one before it.
What came before.
- 10-Q · May 8, 2026
- Indie Semiconductor reported Q1 2026 revenue of $55.5 million, slightly above estimates, with a reduction in operating losses compared to the previous quarter. However, both gross and operating margins remain low, and…
- 10-K · February 27, 2026
- Indie Semiconductor describes a strategy focused on highly integrated automotive SoCs, photonics and embedded software (including the acquired emotion3D) targeting ADAS, in‑cabin monitoring and adjacent markets. Revenue…
- 10-Q · November 7, 2025
- Indie Semiconductor reported Q3 revenue of $53.676M, essentially flat year‑over‑year (Q3 2024: $53.965M) with gross margin roughly stable at ~40.1%. Operating loss narrowed to $38.342M (Q3 2024: $49.903M) driven by…
- 10-Q · August 8, 2025
- Indie Semiconductor reported Q2 revenue of $51.634M, down modestly from $52.355M a year earlier, while gross margin compressed to 40.6% and operating loss widened to -$42.993M. Management initiated a 2025 restructuring…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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