Shares of Indie Semiconductor Inc. (INDI) tumbled 9.85% in pre-market trading on Tuesday following the company's disappointing first-quarter earnings report and weak guidance for the upcoming quarter. The semiconductor company, which specializes in automotive technology, faced headwinds as it failed to meet analysts' expectations.

Indie Semiconductor reported a Q1 loss of $0.18 per share, which was wider than the $0.16 loss per share anticipated by analysts polled by FactSet. Although the loss narrowed from $0.19 per share in the same quarter last year, it fell short of market expectations. Revenue for the quarter ended March 31 came in at $54.1 million, up from $52.4 million a year earlier but slightly below the $54.7 million forecast by analysts.

Adding to investors' concerns, Indie Semiconductor provided a softer-than-expected outlook for the second quarter. The company projects Q2 revenue to be between $50 million and $53 million, significantly below analysts' expectations of $56 million. This weak guidance, coupled with the earnings miss, likely fueled the sharp pre-market decline as investors reassessed the company's near-term growth prospects in the competitive semiconductor industry.