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indie SEMICONDUCTOR NEWS RELEASE indie Semiconductor Exceeds Q3 2021 Expectations 11/10/2021 • Delivered 32 % Sequential and 60 % Year - over - Year Revenue Growth • Guides to 50 % Sequential and More Than 170 % Year - over - Year Revenue Growth with Sustained Non - GAAP Gross Margin Expansion in the Fourth Quarter 2021 Updates Strategic Backlog to $ 2.6 Billion , Up from $ 2.0 Billion Last Year ● ALISO VIEJO , Calif .-- ( BUSINESS WIRE ) -- indie Semiconductor , Inc. ( Nasdaq : INDI ) , an Autotech solutions innovator , today announced third quarter 2021 results for the period ended September 30 , 2021. Third quarter revenue grew to a record $ 12.2 million , up 60 percent from the year ago period and ahead of analyst consensus expectations . Non - GAAP gross margin expanded 90 basis points sequentially to 43.0 percent . On a GAAP basis , third quarter 2021 operating loss was $ 21.3 million versus $ 3.2 million in the year ago period , including transaction costs and stock based charges . Non - GAAP operating loss for the third quarter of 2021 was $ 11.5 million compared to a non - GAAP operating loss of $ 3.0 million during the same quarter last year , reflecting increasing customer - driven R & D investments as well as public company infrastructure costs . " Despite continued global supply chain constraints , indie exceeded third quarter top and bottom line expectations driven by ramps of our highly innovative automotive solutions , " said Donald McClymont , indie's co - founder and chief executive officer . " Our advanced technologies are directly answering the market's demand for higher integration as well as a step function increase in electronic performance to improve safety , accelerate electrification and enhance the user experience . Further to this end , we are substantially increasing our R & D investments to position indie as the semiconductor and software level solutions provider across all key sensor modalities , towards realizing our vision of creating an Autotech powerhouse . " 1