indie Semiconductor, Inc. reported a total revenue of $64.0 million for the second quarter of 2026, marking a 24% increase from $51.6 million in the same period last year. This growth was primarily driven by a 22% rise in product revenue, which reached $60.5 million, and an 83% increase in contract revenue, totaling $3.5 million. For the first half of 2026, the company generated $119.5 million in revenue, up 13% from $105.7 million in the first half of 2025. Despite the revenue growth, indie recorded a net loss of $38.9 million for the quarter, slightly less than the $41.6 million loss reported in the prior year.
Operating expenses for the second quarter of 2026 totaled $99.1 million, a 5% increase from $94.6 million in the same quarter of 2025. The cost of goods sold rose by 33% to $40.9 million, driven by increased product volume. Research and development expenses decreased by 2% to $37.8 million, while selling, general, and administrative expenses increased by 11% to $20.4 million. The company did not incur restructuring costs in the latest quarter, contrasting with $7.1 million in the same period last year.
In terms of strategic developments, indie Semiconductor is in the process of divesting its 34.38% equity interest in Wuxi indie Microelectronics to United Faith Auto-Engineering Co., Ltd. for approximately $135 million. This divestiture is expected to allow indie to focus on its core Advanced Driver Assistance Systems (ADAS) technologies. Additionally, the company has entered into an agreement to acquire the CMOS imaging sensor business from ams-OSRAM AG, with the transaction expected to close in the third quarter of 2026.
As of June 30, 2026, indie's total assets stood at $841.5 million, with cash and cash equivalents of $139.0 million. The company reported a total debt of $416.1 million, which includes long-term debt of $403.7 million. The employee headcount has increased to 1,200, reflecting the company's growth and expansion efforts. Looking ahead, indie Semiconductor anticipates continued revenue growth driven by increased product adoption in the automotive sector, although it remains cautious about macroeconomic conditions, including inflation and geopolitical tensions, which could impact its operations and financial performance.
About indie Semiconductor, Inc.
Indie Semiconductor designs automotive semiconductors and software for safety systems, ADAS, user experience, and electrification. Its products include sensors, processors, and integrated circuits used in electric and autonomous vehicles. Serving global Tier 1 suppliers and automakers, indie leverages advanced design, packaging, and system integration to deliver high-reliability, innovative solutions that enhance vehicle safety, connectivity, and in-cabin experiences.
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