INDI · Indie Semiconductor, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $217.39M | $216.68M | $223.17M | $110.80M | $22.61M |
| Cost of Revenue | $130.76M | $126.37M | $133.61M | $60.49M | $13.04M |
| Gross Profit | $86.63M | $90.31M | $89.56M | $50.31M | $9.57M |
| R&D | $154.09M | $175.11M | $154.51M | $121.20M | $22.01M |
| SG&A | $77.69M | $80.94M | $70.48M | $48.24M | $6.80M |
| Total Operating Expenses | $371.61M | $386.76M | $358.59M | $229.93M | $41.85M |
| D&A | - | - | - | - | - |
| Operating Income | ($154.22M) | ($170.08M) | ($135.42M) | ($119.13M) | ($19.24M) |
| Interest Expense | $17.64M | $9.26M | $8.65M | $1.69M | $2.19M |
| Income Tax | ($3.01M) | ($1.92M) | ($4.53M) | ($1.03M) | $29.0K |
| Net Income | ($143.07M) | ($132.60M) | ($117.63M) | ($43.40M) | ($97.50M) |
| EPS - Basic | ($0.73) | ($0.76) | ($0.81) | ($0.37) | ($3.12) |
| EPS - Diluted | ($0.73) | ($0.76) | ($0.81) | ($0.37) | ($3.12) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $145.46M | $274.25M | $151.68M | $321.63M | $219.08M |
| Accounts Receivable | $57.48M | $52.01M | $63.60M | $26.44M | $13.84M |
| Inventory | $48.62M | $49.89M | $33.14M | $13.26M | $9.08M |
| Accounts Payable | $21.83M | $28.33M | $18.41M | $14.19M | $5.44M |
| Current Assets | $285.77M | $408.75M | $271.82M | $373.87M | $248.03M |
| Total Assets | $840.79M | $941.39M | $818.88M | $603.35M | $470.88M |
| Current Liabilities | $76.55M | $84.88M | $138.88M | $63.96M | $33.72M |
| Long-term Debt | $339.83M | $369.10M | $156.74M | $155.70M | $5.62M |
| Total Liabilities | $456.77M | $495.99M | $341.85M | $289.02M | $179.03M |
| Stockholders' Equity | $358.03M | $417.89M | $446.15M | $312.81M | $313.05M |
| Retained Earnings | ($637.11M) | ($494.04M) | ($361.44M) | ($243.82M) | ($200.42M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | ($57.13M) | ($58.60M) | ($104.39M) | ($76.75M) | ($21.22M) |
| Investing Cash Flow | ($31.97M) | ($19.26M) | ($107.74M) | ($16.27M) | ($771.0K) |
| Financing Cash Flow | ($38.94M) | $209.33M | $43.57M | $192.66M | $33.47M |
| CapEx | $14.29M | $14.34M | $12.75M | $7.57M | $637.0K |
| Free Cash Flow | ($71.42M) | ($72.94M) | ($117.14M) | ($84.31M) | ($21.86M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 39.9% | 41.7% | 40.1% | 45.4% | 42.3% |
| Operating margin | -70.9% | -78.5% | -60.7% | -107.5% | -85.1% |
| EBITDA margin | - | - | - | - | - |
| Net margin | -65.8% | -61.2% | -52.7% | -39.2% | -431.2% |
| Free cash flow margin | -32.9% | -33.7% | -52.5% | -76.1% | -96.7% |
| FCF / Net income | 0.50 | 0.55 | 1.00 | 1.94 | 0.22 |
| R&D / Revenue | 70.9% | 80.8% | 69.2% | 109.4% | 97.4% |
| SG&A / Revenue | 35.7% | 37.4% | 31.6% | 43.5% | 30.1% |
| Effective tax rate | - | - | - | - | - |
| Return on assets | -17.0% | -14.1% | -14.4% | -7.2% | -20.7% |
| Return on equity | -40.0% | -31.7% | -26.4% | -13.9% | -31.1% |
| Return on invested capital | -17.5% | -17.1% | -17.7% | -20.1% | -4.8% |
| Liquidity | |||||
| Current ratio | 3.73 | 4.82 | 1.96 | 5.85 | 7.36 |
| Quick ratio | 3.10 | 4.23 | 1.72 | 5.64 | 7.09 |
| Cash ratio | 1.90 | 3.23 | 1.09 | 5.03 | 6.50 |
| Leverage | |||||
| Debt / Equity | 0.95 | 0.88 | 0.35 | 0.50 | 0.02 |
| Debt / Assets | 0.40 | 0.39 | 0.19 | 0.26 | 0.01 |
| Debt / EBITDA | - | - | - | - | - |
| Interest coverage | -8.7x | -18.4x | -15.7x | -70.4x | -8.8x |
| Equity multiplier | 2.35 | 2.25 | 1.84 | 1.93 | 1.50 |
| Liabilities / Assets | 0.54 | 0.53 | 0.42 | 0.48 | 0.38 |
| Efficiency | |||||
| Asset turnover | 0.26 | 0.23 | 0.27 | 0.18 | 0.05 |
| Inventory turnover | 2.69 | 2.53 | 4.03 | 4.56 | 1.44 |
| Days sales outstanding | 97d | 88d | 104d | 87d | 223d |
| Days inventory outstanding | 136d | 144d | 91d | 80d | 254d |
| Days payable outstanding | 61d | 82d | 50d | 86d | 152d |
| Cash conversion cycle | 171d | 150d | 144d | 81d | 325d |
| Valuation | |||||
| P / E | - | - | - | - | - |
| P / B | 1.9x | 1.7x | 2.6x | 2.2x | 1.2x |
| P / S | 3.2x | 3.3x | 5.3x | 6.2x | 16.6x |
| EV / EBITDA | - | - | - | - | - |
| Growth | |||||
| Revenue growth (YoY) | 0.3% | -2.9% | 101.4% | 390.0% | - |
| Revenue CAGR (3y) | 25.2% | 112.4% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | -4.1% | 0.8% | 78.0% | 425.8% | - |
| Operating income growth (YoY) | 9.3% | -25.6% | -13.7% | -519.1% | - |
| Net income growth (YoY) | -7.9% | -12.7% | -171.0% | 55.5% | - |
| EPS growth (YoY) | 3.9% | 6.2% | -118.9% | 88.1% | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | 2.1% | 37.7% | -38.9% | -285.8% | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | -14.3% | -6.3% | 42.6% | -0.1% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$217.39M totalProduct$206.96M · 95.2%
Service$10.43M · 4.8%
Geographic
$217.39M totalCN$102.87M · 47.3%
Europe$42.85M · 19.7%
US$33.39M · 15.4%
Asia Pacific Excluding China$18.50M · 8.5%
South Korea1$15.05M · 6.9%
North America Excluding United States$3.23M · 1.5%
South America$1.50M · 0.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.45
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing indie Semiconductor against the 5 most active filers in the same SIC group.