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Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.
BU SINESS Company Overview Headquartered in Aliso Viejo, CA, indie is empowering the automotive revolution with next generation semiconductors, photonics and software platforms.
We focus on developing innovative, high-performance and energy-efficient mixed-signal system-on-chips ("SoCs") and system solutions for advanced driver assistance systems ("ADAS") in addition to adjacent industrial applications.
Our sensors span all major modalities, including Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded system control, power management, and interfacing solutions are accelerating the proliferation of automated vehicle safety features.
Our technological expertise, including cutting-edge design capabilities and packaging expertise, together with our deep application knowledge and strong customer relationships, has enabled us to ship over 550 million semiconductor devices since our inception.
As a global innovator, we are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs worldwide.
Potential Divestiture of Wuxi In May 2025, indie entered into a non-binding agreement with United Faith Auto-Engineering Co., Ltd., a publicly-listed company in the People s Republic of China ( United Faith ), to sell up to all of our 34.38% equity interest in Wuxi.
On October 27, 2025, we entered into an Asset Purchase Agreement (the "Wuxi Agreement") through Ay Dee Kay, LLC ("ADK"), pursuant to which we have agreed to sell ADK's entire equity interest in Wuxi to United Faith.
Pursuant to the Wuxi Agreement, subject to the satisfaction of closing conditions and receipt of all required regulatory approvals, United Faith will purchase all of ADK s outstanding equity interest in Wuxi (the "Wuxi Divestiture") for a total gross transaction consideration of RMB 960,834,355, or approximately $135 million (based on the exchange rate in effect on October 24, 2025), payable in cash to ADK, net of applicable local taxes.
The Wuxi Agreement contains certain customary representations, warranties and covenants.
REMOVED
government affecting the countries where we operate; armed conflict and political or economic instability in the Company s target markets and additional factors disclosed under Risk Factors in Part I, Item 1A herein, as such risk factors may be amended, supplemented or superseded from time to time in the Company s other public reports filed with the SEC.
Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.
BUSINESS Company Overview indie offers highly innovative automotive semiconductors and software solutions for Advanced Driver Assistance Systems ( ADAS ), driver automation, in-cabin, user experience and electrification applications.
The Company focuses on edge sensors across multiple modalities spanning light detection and ranging ( LiDAR ), radar, ultrasound and computer vision.
These functions represent the core underpinnings of both electric and automated vehicles, while the advanced user interfaces are transforming the in-cabin experience to mirror and seamlessly connect to the mobile platforms people rely on every day.
indie is an approved vendor to Tier 1 automotive suppliers and its platforms can be found in marquee automotive manufacturers around the world.
Our technological expertise, including cutting-edge design capabilities and packaging skillsets, together with our deep applications knowledge and strong customer relationships, have enabled us to cumulatively ship over 400 million semiconductor devices since our inception.
With a global footprint, we support leading customers from our design and application centers located in North and South America, Middle East, Asia and Europe, where our local teams work closely on their unique design requirements.
Recent Acquisitions and Transactions Kinetic Technologies On January 25, 2024 (the Deal Closing Date ), indie and ADK LLC completed its acquisition of Kinetic Technologies, LLC ( Kinetic ).
The acquisition was consummated pursuant to an Asset Purchase Agreement (the APA ) to acquire certain research and development personnel, intellectual property and business properties from Kinetic, in support of a custom product development for a North American electric vehicle original equipment manufacturer ( OEM ).