Shares of indie Semiconductor Inc. (NASDAQ: INDI) tumbled 7.30% in after-hours trading on Thursday following the release of its third-quarter 2025 financial results, which fell short of analyst expectations and included a disappointing outlook for the fourth quarter.

The automotive semiconductor company reported Q3 revenue of $53.7 million, slightly below the IBES estimate of $54 million. While this represents only a minor miss, the company's outlook for Q4 appears to have spooked investors. indie Semiconductor expects fourth-quarter 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 negatively impacted its fourth quarter revenue outlook by approximately $5 million.

Despite some positive developments, including an expanded strategic backlog of $7.4 billion and new design wins in ADAS and industrial markets, the market appears to be focusing on the near-term challenges facing the company. The appointment of Naixi Wu as the new Chief Financial Officer was also announced, but this news seems to have been overshadowed by the financial results and outlook. As the semiconductor industry faces ongoing supply chain challenges and economic uncertainties, investors may be recalibrating their expectations for indie Semiconductor's growth trajectory in the coming quarters.