Shares of Indie Semiconductor Inc. (NASDAQ: INDI) tumbled 5.79% in pre-market trading on Friday, following the release of its third-quarter 2025 financial results after the market close on Thursday. The automotive semiconductor company's earnings report fell short of analyst expectations and included a disappointing outlook for the fourth quarter, triggering a sell-off.

Indie Semiconductor reported Q3 revenue of $53.7 million, slightly below the analyst estimate of $54 million. While this represents only a minor miss, investors were more concerned about the company's forward guidance. For the fourth quarter, Indie Semiconductor expects revenue between $54 million and $60 million, with adjusted gross margins in the range of 46% to 47%. The company also noted that shortages in the supply of package substrates are expected to negatively impact fourth-quarter revenue by approximately $5 million, highlighting ongoing supply chain challenges.

Despite some positive developments, including an expanded strategic backlog of $7.4 billion and new design wins in ADAS and industrial markets, these were overshadowed by the near-term challenges. The widened operating loss of $38.3 million for Q3, compared to a loss of $49.9 million in the same quarter last year, may also be contributing to investor concerns about the company's path to profitability. As Indie Semiconductor continues to navigate supply chain issues and work towards improving its financial performance, investors will likely be closely monitoring the company's progress in the coming quarters.