2024-03-13 06:40:25 ET
Summary
- 4Q23 revenues came in at the lower end of guidance due to a weak market environment.
- indie Semiconductor also missed its target to reach non-GAAP EBITDA breakeven in 4Q23 by a slight margin.
- 2024 outlook also appears weak due to the headwinds in the automotive industry, but indie Semiconductor expects a recovery through 2024.
- indie Semiconductor announced that the North American OEM ADAS program, which was pushed out through the year of 2023, has been cancelled.
- indie Semiconductor also entered a strategic partnership with Ficosa.
indie Semiconductor ( INDI ) reported weak 4Q23 results and guidance that fell short of expectations.
I have written extensively on indie Semiconductor on Seeking Alpha, with the most recent article arguing that the company is a star performer in the semiconductor industry....
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indie Semiconductor: A Solid Autotech Company In A Weak Environment