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Just hang loose here. I suspect the fireworks begin when the Teraxion closes. Shouldnt the acquiring company stock go down when its acquiring? And this is going up so... Lets think about it.....
indie Semiconductor Exceeds Q2 2021 Expectations and Reaffirms Strategic Outlook
Delivered 148% Year-over-Year Revenue Growth
Exited the Quarter with $354 million in Cash and Cash Equivalents
Guides to 30% Sequential Top Line Growth with Further Non-GAAP Gross Margin Expansion in Q3 2021
ALISO VIEJO, Calif.--(BUSINESS WIRE)-- indie Semiconductor, Inc. (Nasdaq: INDI), an Autotech solutions innovator, today announced results for the second quarter ended June 30, 2021. Second quarter revenue grew to a record $9.2 million, up 148 percent from the year ago period. Non-GAAP gross margin expanded 140 basis points from June 2020 levels to 42.1 percent. On a GAAP basis, second quarter 2021 operating loss was $18.5 million versus $4.6 million in the year ago period, including transaction costs and share-based compensation. Non-GAAP operating loss for the second quarter of 2021 was $9.6 million compared to a non-GAAP operating loss of $4.5 million for the second quarter of 2020, reflecting increasing customer-driven R&D investments and expenses associated with becoming a publicly traded company.
“indie’s solid second quarter 2021 revenue and margin performance demonstrate the growing, broad-based demand for our highly integrated automotive semiconductor and software solutions,” said Donald McClymont, indie’s co-founder and chief executive officer. “Automotive OEMs and Tier 1 customers are increasingly seeking partners who can deliver differentiated architectures that enhance vehicle safety, connectivity, electrification and the user experience. Given strong order visibility, our track record of innovation and ability to scale, indie is well positioned to substantially outpace the Autotech market and in turn, create strategic shareholder value.”
Q2 Business Highlights
Closed merger with Thunder Bridge Acquisition II and commenced trading on Nasdaq June 11
Won a new EV product design with one of the largest European automotive Tier 1s
Expanded shipments of highly integrated OnBrD™ telematics solution
Secured record orders for ultrasonic automatic park assist systems
Ramped advanced lighting controllers with multiple new OEMs
Extended engagement with a global innovator of sensor technology in support of access solutions
Third Quarter 2021 Outlook
We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures.
“Despite global supply chain tightness, we anticipate our top line growth to outperform the market with sustained gross margin expansion in the third quarter of 2021,” said Thomas Schiller, indie’s chief financial officer and executive vice president of strategy. “Specifically, we expect 30 percent sequential revenue growth and non-GAAP gross margin of roughly 43 percent. At this growth trajectory, the stage is set for indie to nearly double revenue in 2021.”
INDI indie Semiconductor, Inc. Class A Common Stock 10.49
AdTheorent Holding Company, LLC Announces Second Quarter 2021 Results Revenue Increased 89% Year-Over-Year; Revenue Less TAC* Increased 94% Year-Over-Year; Raises Full Year 2021 Outlook
NEW YORK and CHICAGO, Aug. 24, 2021 /PRNewswire/ -- AdTheorent Holding Company, LLC ("AdTheorent" or "the Company"), a programmatic digital advertising leader using advanced machine learning technology and solutions to deliver real-world value for advertisers and marketers, today announced financial highlights for the second quarter ended June 30, 2021.
Second Quarter 2021 Financial Highlights
Revenue increased $18.8 million or 89% to $39.9 million, from $21.1 million in the second quarter 2020
Revenue Less TAC* increased $12.9 million or 94% to $26.7 million, from $13.7 million in the second quarter 2020
Net income increased by $3.2 million to $1.4 million, from negative $1.9 million in the second quarter 2020
Adjusted EBITDA* grew by $10.5 million to $12.0 million, from $1.6 million in the second quarter 2020
Financial Outlook
As a result of the record first half 2021 revenue performance and positive business trends expected for the balance of the year, AdTheorent is raising its outlook for full-year 2021 revenue to at least $161.6 million, compared to its prior outlook for 2021 revenue of $157.7 million, and it is raising its outlook for full-year 2021 Revenue Less TAC* to at least $106.2 million, compared to its prior outlook for 2021 Revenue Less TAC* of $102.4 million.
Jim Lawson, Chief Executive Officer of AdTheorent stated, "Our accelerated growth in the second quarter of 2021 demonstrates the power of AdTheorent Predictive Advertising and the measurable value we provide to advertisers seeking top campaign performance using privacy-forward targeting methods. We have never been more optimistic about the business and our growing market opportunity, and we are confident we can drive long-term durable growth and redefine how digital ads are targeted. As a result, we are raising our 2021 outlook to 34.5% growth in Revenue Less TAC* versus 29.7% previously."
*Non-GAAP measure; complete definitions of AdTheorent's non-GAAP measures are provided herein under "Non-GAAP Financial Measures."
Business Combination
On August 23, 2021, MCAP Acquisition Corporation (NASDAQ: MACQ) ("MCAP"), a publicly-traded special purpose acquisition company, sponsored by an affiliate of Chicago-based asset manager Monroe Capital LLC, filed its preliminary proxy statement / prospectus with the Securities and Exchange Commission (the "SEC") in connection with its proposed business combination with AdTheorent, which includes AdTheorent's complete second quarter 2021 financial results. Upon closing of the transaction, the combined company will be named AdTheorent and it is expected to remain listed on the NASDAQ Capital Market under the new ticker symbol "ADTH."
About AdTheorent
AdTheorent uses advanced machine learning technology and solutions to deliver impactful advertising campaigns for marketers. AdTheorent's industry-leading machine learning platform powers its predictive targeting, geo-intelligence, audience extension solutions and in-house creative capability, Studio A\T. Leveraging only non-sensitive data and focused on the predictive value of machine learning models, AdTheorent's product suite and flexible transaction models allow advertisers to identify the most qualified potential consumers coupled with the optimal creative experience to deliver superior results, measured by each advertiser's real-world business goals.
AdTheorent is consistently recognized with numerous technology, product, growth and workplace awards. AdTheorent was awarded "Best AI-Based Advertising Solution" (AI Breakthrough Awards) and "Most Innovative Product" (B.I.G. Innovation Awards) for four consecutive years. Additionally, AdTheorent is the only five-time recipient of Frost & Sullivan's "Digital Advertising Leadership Award." AdTheorent is headquartered in New York, with fourteen offices across the United States and Canada. For more information, visit adtheorent.com.
About MCAP Acquisition Corporation
MCAP Acquisition Corporation raised $316 million in March 2021 and its securities are listed on the NASDAQ Capital Market under the ticker symbols "MACQU," "MACQ" and "MACQW." MCAP is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, or other similar business combination with one or more businesses or entities. MCAP is sponsored by an affiliate of Monroe Capital LLC ("Monroe Capital"), a boutique asset management firm specializing in investing across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Monroe Capital is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, Naples, New York, and San Francisco.
MCAP is the third SPAC in which Monroe has participated as a sponsor. In 2018, Monroe co-sponsored Thunder Bridge Acquisition, Ltd. and supported its successful business combination with Repay Holdings Corporation (NASDAQ: RPAY). In 2019, Monroe co-sponsored Thunder Bridge Acquisition II, Ltd. and supported its successful business combination with indie Semiconductor (NASDAQ: INDI).
MCAP is led by Chairman and Chief Executive Officer Theodore Koenig, who is President, CEO & Founder of Monroe Capital and has been the CEO and Chairman of Monroe Capital Corporation (NASDAQ: MRCC) since 2011. He is joined by Co-President Zia Uddin, who is a Partner at Monroe Capital; Co-President Mark Solovy, who serves as a Managing Director and Co-Head of the Technology Finance Group at Monroe Capital; and CFO Scott Marienau, who is the CFO of Monroe Capital's management company.
As of July 1, 2021, Monroe Capital had approximately $10.3 billion in assets under management. Monroe Capital's assets under management are comprised of a diverse portfolio of over 475 current investments. From Monroe Capital's formation in 2004 through March 31, 2021, Monroe Capital's investment professionals have invested in over 1,450 loans and related investments in an aggregate amount of $21.5 billion, including over $6.1 billion in 330 software, technology-enabled and business services companies.
To learn more please, visit www.mcapacquisitioncorp.com. The information that may be contained on or accessed through this website is not incorporated into this release.
A lot of blood spilled over these minerals under different narratives than what the public can handle. Easy to attack terrorists, not so easy to say we need their minerals and theyre the only ones that have it.
A universal semi is.. I dont know but I know it is very good.
Ticker change from THBR to INDI on June 11. Shorts had to cover.
"The combined company will retain the indie Semiconductor name with its common stock and warrants to commence trading on Nasdaq under the new ticker symbols "INDI" and "INDIW", respectively, on June 11, 2021."
Thunder Bridge Acquisition II, Ltd. (NASDAQ:THBR) announced in an 8-K filing that its shareholders approved its combination with indie Semiconductor at a special meeting held earlier today.
Thunder Bridge Acquisition II, Ltd. Reminds Shareholders to Vote in Connection with the Business Combination with indie Semiconductor
Thunder Bridge II’s special meeting (the “Special Meeting”) to vote on the proposals described in Thunder Bridge II’s definitive proxy statement/prospectus dated May 14, 2021 (the “Registration Statement”) will be held virtually on June 9, 2021, at 11:00 a.m. Eastern Time. To view the meeting documents, please visit:
But if you are trading this as a low float play that's crazy. If you are trading it on growth and value, then you should be considering the entire OS as in the float.
In the long term, as growth kicks in, many of these soon to be former stocks will do quite well. On the short term, market fluctuations, trader enthusiasm and OIPE investor’s games move these SPACs. I’m sure indie will do well long term.
Skyworks would have just bought Indie if that was the plan. They have no need of the SPAC cash or the public shareholders. Maybe 305 years down the road...
Apparently, the SEC is reviewing how warrants associated w SPACs should be treated for accounting and is holding up their merger approvals until a decision on warrants has been made. Their decision is expected any day.
Indie is not part of THBR so "the stock" is trading the a red headed stepchild - like many SPACs. When we see merged financials, then we see whether or not Indie trades well.
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