indie Semiconductor Achieves High End of Revenue Guidance Range

indie Semiconductor Achieves High End of Revenue Guidance Range in Q1 2022

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- Retroactively restated to give effect to reverse recapitalization.

INDIE SEMICONDUCTOR, INC.
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)


	March 31, 2022			December 31, 2021
Assets
Current assets:
Cash and cash equivalents	$	192,979		$	219,081
Restricted cash		383			383
Accounts receivable, net		16,064			13,842
Inventory, net		10,835			9,080
Prepaid expenses and other current assets		6,821			5,648
Total current assets		227,082			248,034
Property and equipment, net		12,093			11,090
Intangible assets, net		104,785			96,285
Goodwill		131,147			115,206
Operating lease right-of-use assets		12,553			—
Other assets and deposits		297			270
Total assets	$	487,957		$	470,885

Liabilities and stockholders' equity
Accounts payable	$	6,770		$	5,441
Accrued payroll liabilities		4,700			4,021
Accrued expenses and other current liabilities		24,718			14,622
Intangible asset contract liability		5,705			5,516
Deferred revenue		2,845			1,840
Current debt obligations		12,262			2,275
Total current liabilities		57,000			33,715
Long-term debt, net of current portion		5,306			5,618
Warrant liability		53,114			100,467
Intangible asset contract liability, net of current portion		11,306			12,452
Deferred tax liabilities, non-current		24,907			21,164
Operating lease liability, non-current		10,527			—
Other long-term liabilities		8,537			5,612
Total liabilities	$	170,697		$	179,028
Commitments and contingencies
Stockholders' equity
Preferred stock	$	—		$	—
Class A common stock		11			11
Class V common stock		3			3
Additional paid-in capital		523,972			514,891
Accumulated deficit		(189,583	)		(200,416	)
Accumulated other comprehensive loss		(580	)		(1,443	)
indie's stockholders' equity		333,823			313,046
Noncontrolling interest		(16,563	)		(21,189	)
Total stockholders' equity		317,260			291,857
Total liabilities and stockholders' equity	$	487,957		$	470,885

INDIE SEMICONDUCTOR, INC.

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