indie Semiconductor, Inc. (NASDAQ:INDI) Q4 2023 Earnings Conference Call February 22, 2024 5:00 PM ET

Company Participants

Ashish Gupta - Investor Relations

Don McClymont - Co-Founder and Chief Executive Officer

Tom Schiller - Chief Financial Officer and Executive Vice President, Strategy

Conference Call Participants

Suji Desilva - ROTH MKM

Ethan Widell - B. Riley Securities

Anthony Stoss - Craig-Hallum Capital Group

Cody Acree - The Benchmark Company

Justin Ages - CJS Securities

Operator

Good afternoon and welcome to indie Semiconductor’s Fourth Quarter and Year End 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I will now turn the call over to Ashish Gupta, Investor Relations. Mr. Gupta, please go ahead.

Ashish Gupta

Thank you, operator. Good afternoon and welcome to indie Semiconductor’s fourth quarter and year end 2023 earnings call.

Joining me today are Don McClymont, indie’s Co-Founder and CEO; and Tom Schiller, indie’s CFO and EVP of Strategy. Don will provide opening remarks and discuss business highlights, followed by Tom’s review of Q4 and indie’s outlook.

Please note that we’ll be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect our views only as of today and should not be relied upon as representative of our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For material risks and other important factors that could affect our financial results, please review our Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as well as other public reports with the SEC.

Finally, the results and guidance discussed today are based on non-GAAP financial measures such as non-GAAP gross margin, non-GAAP operating income loss, non-GAAP net income loss and non-GAAP EBITDA. These metrics may exclude corresponding GAAP measures certain of the following items, depreciation and amortization, share-based compensation, acquisition-related expenses, inventory cost realignments, gain or loss from change in fair values, non-cash interest expense, and income tax, benefits or expenses. For a complete reconciliation to GAAP and the definition for the above items, please see our Q4 earnings press release, which was issued in advance of this call and can be found on our website at www.indiesemi.com.

I’ll now turn the call over to Donald.

Don McClymont

Thank you, Ashish, and welcome, everybody. The indie team delivered another quarter of solid revenue and gross margin performance, capping off a third consecutive year in which we’ve more than doubled our top-line. Once again, massively outpacing our peer group and earning the unique distinction of being the fastest-growing semiconductor company in the world based on our last 2 years of revenue performance, per Morgan Stanley.