Investors are cautioned not to place undue reliance on the forward-looking statements in this press release, which information set forth herein speaks only as of the date hereof. We do not undertake, and we expressly disclaim, any intention or obligation to update any forward-looking statements made in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law.
INDIE SEMICONDUCTOR, INC. |
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PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
(Amounts in thousands, except share and per share amounts) |
|||||||
(Unaudited) |
|||||||
|
Three Months Ended
|
||||||
|
|
2022 |
|
|
|
2021 |
|
|
|
|
|
||||
Revenue: |
|
|
|
||||
Product revenue |
$ |
18,086 |
|
|
$ |
7,483 |
|
Contract revenue |
|
3,913 |
|
|
|
631 |
|
Total revenue |
|
21,999 |
|
|
|
8,114 |
|
Operating expenses: |
|
|
|
||||
Cost of goods sold |
|
14,192 |
|
|
|
4,848 |
|
Research and development |
|
29,499 |
|
|
|
8,677 |
|
Selling, general, and administrative |
|
12,642 |
|
|
|
2,695 |
|
Total operating expenses |
|
56,333 |
|
|
|
16,220 |
|
Loss from operations |
|
(34,334 |
) |
|
|
(8,106 |
) |
| Other income (expense), net: |
|
|
|
||||
| Interest income |
|
33 |
|
|
|
7 |
|
| Interest expense |
|
(58 |
) |
|
|
(620 |
) |
| Gain (loss) from change in fair value of SAFEs |
|
— |
|
|
|
19,100 |
|
| Gain (loss) from change in fair value of warrants |
|
47,353 |
|
|
|
— |
|
| Gain (loss) from change in fair value of earn-out liabilities |
|
83 |
|
|
|
— |
|
| Other expense |
|
(30 |
) |
|
|
(7 |
) |
| Total other income, net |
|
47,381 |
|
|
|
18,480 |
|
| Net income before income taxes |
|
13,047 |
|
|
|
10,374 |
|
| Income tax benefit (provision) |
|
659 |
|
|
|
(13 |
) |
| Net income |
|
13,706 |
|
|
|
10,361 |
|
| Less: Net income (loss) attributable to noncontrolling interest |
|
2,873 |
|
|
|
(454 |
) |
| Net income attributable to indie Semiconductor, Inc. |
$ |
10,833 |
|
|
$ |
10,815 |
|
|
|
|
|
|
||||
| Net income attributable to common shares — basic |
$ |
10,833 |
|
|
$ |
5,443 |
|
| Net income (loss) attributable to common shares — diluted |
$ |
10,833 |
|
|
$ |
(13,657 |
) |
|
|
|
|
|
||||
| Net income per share attributable to common shares — basic |
$ |
0.10 |
|
|
$ |
0.17 |
|
| Net income (loss) per share attributable to common shares — diluted |
$ |
0.07 |
|
|
$ |
(0.35 |
) |
|
|
|
|
|
||||
| Weighted average common shares outstanding — basic (1) |
|
111,189,340 |
|
|
|
32,284,863 |
|
| Weighted average common shares outstanding — diluted (1) |
|
147,396,772 |
|
|
|
39,218,016 |
|
