indie Semiconductor (INDI) 10-K 28 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 24, 2025	Jun. 28, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40481
Entity Registrant Name	INDIE SEMICONDUCTOR, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-1735159
Entity Address, Address Line One	32 Journey
Entity Address, City or Town	Aliso Viejo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92656
City Area Code	949
Local Phone Number	608-0854
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	INDI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 955.6
Documents Incorporated by Reference	Portions of the definitive Proxy Statement (the “2025 Proxy Statement”) for the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III, Items 10, 11, 12, 13 and 14 of this Form 10-K. This Proxy Statement will be filed within 120 days after the end of the fiscal year covered by this report.
Entity Central Index Key	0001841925
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		190,823,230
Class V
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		17,671,247

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	Irvine, CA

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 274,248	$ 151,678
Restricted cash	10,300	0
Accounts receivable, net of allowance for doubtful accounts of $1,970 as of December 31, 2024 and $192 as of December 31, 2023	52,005	63,602
Inventory, net	49,887	33,141
Prepaid expenses and other current assets	22,308	23,399
Total current assets	408,748	271,820
Property and equipment, net	34,281	26,966
Intangible assets, net	208,944	208,134
Goodwill	266,368	295,096
Operating lease right-of-use assets	16,107	13,790
Other assets and deposits	6,938	3,070
Total assets	941,386	818,876
Liabilities and stockholders' equity
Accounts payable	28,326	18,405
Accrued payroll liabilities	5,573	6,621
Contingent considerations	3,589	83,903
Accrued expenses and other current liabilities	29,297	21,411
Intangible asset contract liability	5,875	4,429
Current debt obligations	12,220	4,106
Total current liabilities	84,880	138,875
Long-term debt, net of current portion	369,097	156,735
Intangible asset contract liability, net of current portion	11,965	0
Deferred tax liabilities, non-current	11,660	13,696
Operating lease liability, non-current	14,278	10,850
Other long-term liabilities	4,111	21,695
Total liabilities	495,991	341,851
Commitments and contingencies (Note 20)
Stockholders’ equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued or outstanding	0	0
Additional paid-in capital	936,564	813,742
Accumulated deficit	(494,044)	(361,441)
Accumulated other comprehensive loss	(24,655)	(6,170)
indie’s stockholders’ equity	417,886	446,149
Noncontrolling interest	27,509	30,876
Total stockholders' equity	445,395	477,025
Total liabilities and stockholders' equity	941,386	818,876
Class A
Stockholders’ equity
Common Stock	19	16
Class V
Stockholders’ equity
Common Stock	$ 2	$ 2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 1,970	$ 192
Preferred stock, par value (in dollars per share)	$ 0.1000	$ 0.1000
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A
Common stock, par value (in dollars per share)	$ 0.1000	$ 0.1000
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	190,888,408	164,979,958
Common stock, shares outstanding (in shares)	189,163,408	163,193,278
Class V
Common stock, par value (in dollars per share)	$ 0.1000	$ 0.1000
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	17,671,251	18,694,332
Common stock, shares outstanding (in shares)	17,671,251	18,694,332

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total revenue	$ 216,682	$ 223,169	$ 110,797
Operating expenses:
Cost of goods sold	126,373	133,606	60,491
Research and development	175,112	154,507	121,197
Selling, general, and administrative	80,945	70,479	48,237
Restructuring costs	4,332	0	0
Total operating expenses	386,762	358,592	229,925
Loss from operations	(170,080)	(135,423)	(119,128)
Other income (expense), net:
Interest income	4,588	7,801	2,567
Interest expense	(9,258)	(8,650)	(1,692)
Gain from change in fair value of warrants	0	7,066	55,069
Gain (loss) from change in fair value of contingent considerations and acquisition related holdbacks	29,041	(2,985)	9,468
Other expense	(400)	(1,175)	(107)
Total other income, net	23,971	2,057	65,305
Net loss before income taxes	(146,109)	(133,366)	(53,823)
Income tax benefit	1,922	4,534	1,035
Net loss	(144,187)	(128,832)	(52,788)
Less: Net loss attributable to noncontrolling interest	(11,584)	(11,207)	(9,388)
Net loss attributable to indie Semiconductor, Inc.	(132,603)	(117,625)	(43,400)
Net loss attributable to common shares —basic	(132,603)	(117,625)	(43,400)
Net loss attributable to common shares —diluted	$ (132,603)	$ (117,625)	$ (43,400)
Net loss per share attributable to common shares - basic (in dollars per share)	$ (0.76)	$ (0.81)	$ (0.37)
Net loss per share attributable to common shares - diluted (in dollars per share)	$ (0.76)	$ (0.81)	$ (0.37)
Weighted average common shares outstanding - basic (in shares)	175,029,650	145,188,867	118,660,785
Weighted average common shares outstanding - diluted (in shares)	175,029,650	145,188,867	118,660,785
Product revenue
Revenue:
Total revenue	$ 202,698	$ 195,624	$ 89,457
Contract revenue
Revenue:
Total revenue	$ 13,984	$ 27,545	$ 21,340

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Comprehensive Income (Loss)
Net loss	$ (144,187)	$ (128,832)	$ (52,788)
Other comprehensive loss:
Foreign currency translation adjustments	(18,814)	5,781	(10,624)
Comprehensive loss	(163,001)	(123,051)	(63,412)
Less: Comprehensive loss attributable to noncontrolling interest	(11,913)	(11,545)	(10,130)
Comprehensive loss attributable to indie Semiconductor, Inc.	$ (151,088)	$ (111,506)	$ (53,282)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) AND NONCONTROLLING INTEREST - USD ($) $ in Thousands	Total	GEO	Exalos	Silicon Radar	Common Stock Class A	Common Stock Class V	Total Stockholders' Equity (Deficit) Attributable to indie Semiconductor, Inc.	Total Stockholders' Equity (Deficit) Attributable to indie Semiconductor, Inc. GEO	Total Stockholders' Equity (Deficit) Attributable to indie Semiconductor, Inc. Exalos	Total Stockholders' Equity (Deficit) Attributable to indie Semiconductor, Inc. Silicon Radar	Common Stock Common Stock Class A	Common Stock Common Stock Class A GEO	Common Stock Common Stock Class A Exalos	Common Stock Common Stock Class A Silicon Radar	Common Stock Common Stock Class V	Additional Paid-In Capital	Additional Paid-In Capital GEO	Additional Paid-In Capital Exalos	Additional Paid-In Capital Silicon Radar	Accumulated Deficit	Accumulated Other Comprehensive Income	Noncontrolling Interest	Noncontrolling Interest GEO	Noncontrolling Interest Exalos	Noncontrolling Interest Silicon Radar
Beginning balance (in shares) at Dec. 31, 2021											108,181,781				30,448,081
Beginning balance at Dec. 31, 2021	$ 291,857						$ 313,046				$ 11				$ 3	$ 514,891				$ (200,416)	$ (1,443)	$ (21,189)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of equity awards (in shares)											652,878
Share-based compensation	35,285						35,285									35,285
Issuance per Exchange of Class V to Class A(in shares)											10,962,484				(10,962,484)
Issuance per Exchange of Class V to Class A	0						(10,897)				$ 1				$ (1)	(10,897)						10,897
Issuance per Exchange of ADK LLC units to Class A (in shares)											103,923
Issuance on earn out awards - first milestone (in shares)											3,074,779				1,895,879
Issuance on earn out awards — first milestone	0						873				$ 1					872						(873)
Issuance per net settlement of equity awards and cash exercise of stock options (in shares)											2,829,385
Issuance per net settlement of equity awards and cash exercise of stock options	103						(864)									(864)						967
Share Repurchase in connection with 2027 Notes (in shares)					(1,112,524)						(1,112,524)
Share Repurchase in connection with 2027 Notes	(7,404)				$ (7,404)		(7,404)									(7,404)
Wuxi Capital Raise	41,821						19,973									19,857					116	21,848
Issuance in connection with At-The-Market equity offering (in shares)											2,131,759
Issuance in connection with At-The-Market equity offering	16,824						16,824									16,824
Stock issued due to acquisitions	0
Net loss	(52,788)						(43,400)													(43,400)		(9,388)
Foreign currency translation adjustment	(11,366)						(10,624)														(10,624)	(742)
Ending balance (in shares) at Dec. 31, 2022											126,824,465				21,381,476
Ending balance at Dec. 31, 2022	314,332						312,812				$ 13				$ 2	568,564				(243,816)	(11,951)	1,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of equity awards (in shares)											712,653
Share-based compensation	43,279						43,279									43,279
Issuance per Exchange of Class V to Class A(in shares)											2,687,144				(2,687,144)
Issuance per Exchange of Class V to Class A	0						(3,280)									(3,280)						3,280
Issuance per Exchange of ADK LLC units to Class A (in shares)											175,622
Issuance per Exchange of ADK LLC units to Class A	0						(17)									(17)						17
Issuance per net settlement of equity awards and cash exercise of stock options (in shares)											3,898,090
Issuance per net settlement of equity awards and cash exercise of stock options	31						(681)									(681)						712
Share Repurchase in connection with 2027 Notes (in shares)					0
Captial contributions	12,346						4,244									4,244						8,102
Issuance per net settlement of bonus (in shares)											752,242
Issuance per net settlement of bonus	6,757						6,757									6,757
Issuance in connection with At-The-Market equity offering (in shares)											5,219,500
Issuance in connection with At-The-Market equity offering	51,998						45,475									45,475						6,523
Issuance per exchange for warrants (in shares)											7,730,692
Issuance per exchange for warrants	38,331						34,087				$ 1					34,086						4,244
Issuance per settlement of contingent considerations and acquisition-related holdbacks (in shares)											727,871
Issuance per settlement of contingent considerations and acquisition-related holdbacks	5,159						4,531									4,531						628
Stock issued due to acquisitions (in shares)												6,868,768	6,613,786	982,445
Stock issued due to acquisitions	23,479	$ 75,556	$ 42,791	$ 9,834				$ 65,107	$ 37,456	$ 8,223		$ 1	$ 1				$ 65,106	$ 37,455	$ 8,223				$ 10,449	$ 5,335	$ 1,611
Net loss	(128,832)						(117,625)													(117,625)		(11,207)
Foreign currency translation adjustment	5,443						5,781														5,781	(338)
Ending balance (in shares) at Dec. 31, 2023					163,193,278	18,694,332					163,193,278				18,694,332
Ending balance at Dec. 31, 2023	477,025						446,149				$ 16				$ 2	813,742				(361,441)	(6,170)	30,876
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of equity awards (in shares)											61,683
Share-based compensation	63,973						63,973									63,973
Issuance per Exchange of Class V to Class A(in shares)											1,023,081				(1,023,081)
Issuance per Exchange of ADK LLC units to Class A (in shares)											151,992
Issuance per net settlement of equity awards and cash exercise of stock options (in shares)											8,149,638
Issuance per net settlement of equity awards and cash exercise of stock options	$ 54						54				$ 1					53						0
Share Repurchase in connection with 2027 Notes (in shares)					0
Issuance per net settlement of bonus (in shares)	536,519
Issuance per net settlement of bonus	$ 3,771						2,814									2,814						957
Issuance in connection with At-The-Market equity offering (in shares)											3,787,725
Issuance in connection with At-The-Market equity offering	19,419						17,427									17,427						1,992
Shares issued for Investment in Expedera (in shares)											525,000
Shares issued for Investment in Expedera	3,385						2,964				$ 1					2,963						421
Issuance per settlement of contingent considerations and acquisition-related holdbacks (in shares)											11,734,492
Issuance per settlement of contingent considerations and acquisition-related holdbacks	64,149						56,932				$ 1					56,931						7,217
Stock issued due to acquisitions	0
2024 Convertible Note Capped Call Transactions	(23,380)						(21,339)									(21,339)						(2,041)
Net loss	(144,187)						(132,603)													(132,603)		(11,584)
Foreign currency translation adjustment	(18,814)						(18,485)														(18,485)	(329)
Ending balance (in shares) at Dec. 31, 2024					189,163,408	17,671,251					189,163,408				17,671,251
Ending balance at Dec. 31, 2024	$ 445,395						$ 417,886				$ 19				$ 2	$ 936,564				$ (494,044)	$ (24,655)	$ 27,509

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (144,187)	$ (128,832)	$ (52,788)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	39,777	31,848	14,812
Amortization of inventory step-up	901	9,826	0
Allowance for credit losses and inventory reserves	3,888	892	1,586
Share-based compensation	67,240	43,710	41,885
Amortization of discount and cost of issuance of debt	1,172	997	417
Asset impairment in relation to restructuring	998	0	0
Gain from change in fair value of warrants	0	(7,066)	(55,069)
(Gain) loss from change in fair value of contingent considerations and acquisition-related holdbacks	(29,041)	2,985	(9,468)
(Gain) loss from change in fair value of currency forward contract	1,650	850	(208)
Deferred tax liabilities	(5,366)	(4,198)	(2,002)
Amortization of right-of-use assets	3,284	2,737	1,949
Other	0	14	230
Changes in operating assets and liabilities:
Accounts receivable	9,592	(32,199)	(12,161)
Inventory	(16,967)	(5,785)	(4,299)
Accounts payable	10,991	(1,697)	7,419
Accrued expenses and other current liabilities	3,539	(3,211)	1,364
Accrued payroll liabilities	(289)	(562)	528
Prepaid, other current and noncurrent assets	963	(10,298)	(8,175)
Operating lease liabilities	(2,934)	(2,500)	(1,488)
Other long-term liabilities	(3,812)	(1,896)	(1,278)
Net cash used in operating activities	(58,601)	(104,385)	(76,746)
Cash flows from investing activities:
Purchases of property and equipment	(14,337)	(12,752)	(7,568)
Payments for acquired software license	(1,722)	0	0
Business combinations, net of cash acquired	(3,200)	(94,990)	(8,705)
Net cash used in investing activities	(19,259)	(107,742)	(16,273)
Cash flows from financing activities:
Proceeds from issuance of common stock/At-the-market offering	19,847	53,136	17,203
Offering costs for the issuance of common stock/At-the-market offering	(428)	(1,138)	(379)
Proceeds from Wuxi Capital Raise	0	0	41,861
Issuance costs related to Wuxi Capital Raise	0	0	(39)
Wuxi EIP capital paid in	0	12,346	0
2029 convertible note capped call transactions	(23,380)	0	0
Proceeds from issuance of debt obligations	230,361	1,148	161,507
Issuance and debt discount costs related to debt obligations	(667)	0	(5,374)
Repurchase of common stock	0	0	(7,404)
Payments on debt obligations	(7,965)	(12,831)	(2,158)
Payments on financed software	(5,451)	(9,125)	(4,161)
Deferred payments on business combination	(3,036)	0	(8,500)
Proceeds from exercise of stock options	53	31	103
Net cash provided by financing activities	209,334	43,567	192,659
Effect of exchange rate changes on cash, and cash equivalents	1,396	(1,641)	2,774
Net increase (decrease) in cash and cash equivalents	132,870	(170,201)	102,415
Cash, cash equivalents, and restricted cash at beginning of period	151,678	321,879	219,464
Cash, cash equivalents, and restricted cash at end of period	284,548	151,678	321,879
Supplemental disclosure of cash flow information:
Cash paid for interest	7,435	7,421	376
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment, accrued but not paid	352	(300)	1,464
Fair value of common stock issued for investment in Expedera	3,428	0	0
Fair value of common stock issued for business combination	0	128,181	0
Fair value of common stock issued to satisfy contingent considerations and acquisition-related holdbacks	64,148	5,159	0
Fair value of common stock issuable for business combination	0	23,479	0
Contingent consideration for business combination	4,599	81,745	7,836
Accrual for purchase consideration for business combination	$ 800	$ 800	$ 9,674

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	Nature of the Business and Basis of Presentation indie Semiconductor, Inc. (“indie”) and its predecessor for accounting purposes, Ay Dee Kay, LLC, a California limited liability company (“ADK LLC”) and its subsidiaries are collectively referred to herein as the “Company.” The Company offers highly innovative automotive semiconductors and software solutions for Advanced Driver Assistance Systems (“ADAS”), autonomous vehicle, connected car, user experience and electrification applications. The Company focuses on edge sensors across multiple modalities spanning LiDAR, radar, ultrasound and computer vision. These functions represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces are transforming the in-cabin experience to mirror and seamlessly connect to the mobile platforms people rely on every day. indie is an approved vendor to Tier 1 automotive suppliers and its platforms can be found in marquee automotive manufacturers around the world. Headquartered in Aliso Viejo, California, indie has design centers and sales offices in Austin, Texas; Detroit, Michigan; San Jose, California; Cordoba, Argentina; Budapest, Hungary; Dresden, Frankfurt an der Oder, Munich and Nuremberg, Germany; Edinburgh, Scotland; Schlieren, Switzerland; Rabat, Morocco; Haifa, Israel; Quebec City and Toronto, Canada; Seoul, South Korea; Tokyo, Japan and several locations throughout China. The Company engages subcontractors to manufacture its products. The majority of these subcontractors are located in Asia . Execution of At-The-Market Agreement Warrant Exchange On September 22, 2023, indie announced the commencement of an exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its outstanding (i) warrants exercisable for one share of the Company’s Class A common stock (the “Class A common stock”) for $11.50 per share, which are listed for trading on The Nasdaq Stock Market LLC (the “Public Warrants”) and (ii) private placement warrants exercisable for one share of the Company’s Class A common stock for $11.50 per share (the “Private Warrants”, and together with the Public Warrants, the “Warrants”). The Offer and the Consent Solicitation expired at 11:59 p.m., Eastern Time on October 20, 2023. Upon expiration of the Offer and the Consent Solicitation, 24,658,461 Warrants, or approximately 90.0% of the outstanding Warrants, were tendered. Subsequently, the Company issued 7,027,517 shares of Class A common stock, or an exchange ratio of 0.285, for the Warrants tendered in the Offer on October 25, 2023. Additionally, the Company received the approval of approximately 89.8% of the outstanding Warrants to amend the warrant agreement governing the Warrants (the “Amendment No. 2”), which exceeded the majority of the outstanding warrants required to effect the Amendment No. 2. Amendment No. 2 permitted the Company to require that each Warrant that remained outstanding upon settlement of the Exchange Offer to be converted into 0.2565 shares of Class A common stock, which was a ratio 10.0% less than the exchange ratio applicable to the Exchange Offer. The Company completed its exchange of the remaining 2,741,426 untendered Warrants on November 9, 2023 through the issuance of 703,175 shares of Class A common stock. As a result of the completion of the Exchange Offer and the exchange for the remaining untendered Warrants, the Public Warrants were suspended from trading on the Nasdaq Capital Market as of the close of business on November 8, 2023, and delisted. Recent Acquisition On January 25, 2024 (the “Deal Closing Date”), indie and ADK LLC completed its acquisition of Kinetic Technologies, LLC (“Kinetic”). The acquisition was consummated pursuant to an Asset Purchase Agreement (the “APA”) to acquire certain research and development personnel, intellectual property and business properties from Kinetic, in support of a custom product development for a North American electric vehicle original equipment manufacturer (“OEM”). The closing consideration consisted of (i) $3,200 in cash as the initial cash consideration, net of an adjustment holdback amount of $500 and an indemnity holdback amount of $800, (ii) $2,348 of total contingent considerations, payable in cash or Class A common stock, subject to achievement of certain production based milestones 24 months after the Deal Closing Date (“the Production Earnout”), and (iii) $2,251 of contingent considerations, payable in cash or Class A common stock, subject to achievement of certain revenue based milestone 12 months after the Deal Closing Date (“the Revenue Earnout”). The purchase price was subject to working capital and other adjustments as provided in the APA. The indemnity holdback amount is payable within five See Note 3 — Business Combinations for additional description of this acquisition. Amendments to Articles of Incorporation The Company held its 2023 annual meeting of stockholders (the “2023 Annual Meeting”) on June 21, 2023. At the 2023 Annual Meeting, the Company’s stockholders approved the amendment of the Company’s existing Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A common stock, from 250,000,000 to 400,000,000 (the “Charter Amendment”). The Board of Directors previously approved the Charter Amendment, subject to and conditioned upon stockholder approval at the 2023 Annual Meeting. Following stockholder approval of the Charter Amendment, the Company prepared an Amended and Restated Certificate of Incorporation to reflect the Charter Amendment. The Amended and Restated Certificate of Incorporation became effective upon its filing with the Secretary of State of the State of Delaware on June 22, 2023. Risks and Uncertainties Current and continued inflationary conditions have led, and may continue to lead to rising prices or rising interest rates, which has had a dampening effect on overall economic activity and consumer demand for automotive products. There continues to be uncertainty regarding overall macroeconomic conditions, including increased geopolitical tensions, risk of recessions, and the effects of potential trade policies including tariffs. For example, on February 1, 2025, the U.S. government announced a 10% tariff on imports from China and a 25% tariff on imports from Mexico and Canada, with immediate effect and a 10% tariff on steel and aluminum imports effective March 2025. Although the tariffs on Mexico and Canada have been temporarily delayed pending further negotiations between these countries, there is no assurance that the governments will be able to reach long-term agreements. The U.S. government has also threatened tariffs against Taiwan that could specifically target imports of semiconductor products, which, if imposed, could seriously and negatively affect our business and the U.S. economy overall The tariff actions could lead to further potential retaliatory tariffs on U.S. goods and escalate trade disputes in China and in other countries in which we do business. For example, China has responded with tariffs on certain U.S. goods. While we are still evaluating the potential impacts of these proposed tariffs, as well as our ability to mitigate their related impacts, these tariffs may adversely impact our revenue and cost of goods sold in the United States. The institution of trade tariffs both globally and between the United States and China specifically carries the risk of negatively affecting China’s overall economic condition, which could have a negative impact on us as we have significant operations in China. Furthermore, the imposition of tariffs could cause a decrease in the sales of products to customers located in China, other customers selling to Chinese end users, or other global customers which could materially and adversely affect our business, financial condition and results of operations. The ultimate impact of any tariffs will depend on various factors, including if any tariffs are ultimately implemented, the timing of implementation, and the amount, scope and nature of the tariffs. Additionally, the conflict in the Middle East and the implication of this event has created global political and economic uncertainty. The Company is closely monitoring developments, including potential impact to the Company’s business, customers, suppliers, its employees and operations in Israel, the Middle East and elsewhere. At this time, the impact to indie is subject to change given the volatile nature of the situation. Basis of Presentation The consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC’). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and the Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements include the consolidated accounts of the Company’s majority-owned subsidiary, ADK LLC, of which approximately 91% was owned by indie as of December 31, 2024. ADK LLC’s consolidated financial statements include its wholly-owned subsidiaries indie Services Corporation, indie LLC and indie City LLC, all California entities, Ay Dee Kay Limited (“Ay Dee Kay Ltd”), a private limited company incorporated under the laws of Scotland, indie GmbH, Symeo GmbH (“Symeo”) and Silicon Radar GmbH (“Silicon Radar”), all of which are private limited liability companies incorporated under the laws of Germany, Exalos AG (“Exalos”), a company limited by shares organized under the laws of Switzerland, indie Kft, a limited liability company incorporated under the laws of Hungary, TeraXion Inc. (“TeraXion”) and Geo Semiconductor Canada Inc., both incorporated under the laws of Canada, indie Semiconductor Israel Ltd., a private limited company incorporated under the laws of Israel, Ay Dee Kay S.A., a limited liability company incorporated under the laws of Argentina, indie Semiconductor Morocco, a limited liability company under the laws of Morocco, indie Semiconductor Japan KK, a limited liability company under the laws of Japan, Wuxi indie Microelectronics (“Wuxi”), a Chinese entity with approximately 59% voting controlled and approximately 34% owned by the Company as of December 31, 2024 and Wuxi’s wholly-owned subsidiaries, indie Semiconductor Suzhou, indie Semiconductor HK, Ltd and Shanghai Ziying Microelectronics Co., Ltd. All significant intercompany accounts and transactions of the subsidiaries have been eliminated in consolidation. The noncontrolling interest attributable to the Company’s less-than-wholly-owned subsidiary is presented as a separate component from stockholders’ equity (deficit) in the consolidated balance sheets, and a noncontrolling interest in the consolidated statements of operations and consolidated statements of stockholders’ equity (deficit) and noncontrolling interest (see Note 2 — Summary of Significant Accounting Policies — Consolidation ).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, management evaluates its estimates assumptions, including those related to (i) the collectability of accounts receivable; (ii) write-down for excess and obsolete inventories; (iii) warranty obligations; (iv) the value assigned to and estimated useful lives of long-lived assets; (v) the realization of tax assets and estimates of tax liabilities and tax reserves; (vi) amounts recorded in connection with acquisitions; (vii) recoverability of intangible assets and goodwill; (viii) the recognition and disclosure of fair value of debt instruments and contingent liabilities; (ix) the computation of share-based compensation; (x) accrued expenses; and (xi) the recognition of revenue based on a cost-to-cost measure of progress for certain engineering services contracts. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. The Company engages third-party valuation specialists to assist with estimates related to the valuation of certain financial instruments and assets acquired in connection with acquisitions. Such estimates often require the selection of appropriate valuation methodologies and models, and significant judgment in evaluating ranges of assumptions and financial inputs. Actual results may differ from those estimates under different assumptions or circumstances. Foreign Currency Certain of the Company’s self-sustaining foreign subsidiaries use the local currency as their functional currency. Assets and liabilities for these subsidiaries have been translated into U.S. dollars at the exchange rates prevailing at the end of the period and results of operations at the average exchange rates for the period. Unrealized exchange gains and losses arising from the translation of the financial statements of our non-U.S. functional currency operations are accumulated in the cumulative translation adjustments account in accumulated other comprehensive loss. For those foreign subsidiaries where the U.S. dollar is the functional currency, all foreign currency-denominated accounts are remeasured into U.S. dollars. Unrealized exchange gains and losses arising from remeasurements of foreign currency-denominated assets and liabilities are included within Other income (expense), net in the consolidated statements of operations and comprehensive loss. Gains and losses arising from international intercompany transactions that are of a long-term investment nature are reported in the same manner as translation gains and losses. Realized exchange gains and losses are included in net income for the periods presented. Forward Exchange Contracts The Company’s forward exchange contracts, which are used to hedge anticipated U.S. dollar denominated sales and purchases as well as other foreign currency denominated sales and purchases such as Canadian Dollar, Euro and Great British Pound do not qualify for hedge accounting and are recognized at fair value. Any change in the fair value of these contracts is reflected as part of Other income (expense), net in the consolidated statement of operations. Consolidation The consolidated financial statements comprise the financial statements of the Company, its wholly owned subsidiaries, and subsidiaries that it controls due to ownership of a majority voting interest. Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. All significant intercompany accounts and transactions are eliminated in consolidation. The Company recognizes noncontrolling interest related to its less-than-wholly-owned subsidiary as equity in the consolidated financial statements separate from the parent entity’s equity. The net loss attributable to noncontrolling interest is included in net loss in the consolidated statements of operations and comprehensive loss. Cash and Cash Equivalents Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of 90 days or less at the date of purchase. As of December 31, 2024 and 2023, cash and cash equivalents consisted of money market funds and cash deposits that were held by reputable financial institutions in local jurisdictions of the Company’s subsidiaries including primarily the United States, Canada, China, Germany, Great Britain and Switzerland denominated in U.S. dollars and local currency. Restricted Cash The Company’s restricted cash consists of cash that the Company is contractually obligated to maintain in accordance with the terms of its Wells Fargo Bank revolving line of credit agreement. Accounts Receivable Accounts receivable consist of amounts due primarily from customers for product sales and engineering services agreements. Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company accounts for potential losses in accounts receivable utilizing the allowance method. The Company closely monitors outstanding accounts receivable and considers its knowledge of customers, historical losses, and current and expected economic conditions in establishing the allowance for doubtful accounts. The Company did not have any write-offs in any period presented. Concentration of Credit Risk The Company deposits its cash with large financial institutions. At times, the Company’s cash balances with individual banking institutions will exceed the limits insured by the FDIC, however, the Company has not experienced any losses on such deposits. The Company extends credit to its customers based upon an evaluation of the customers’ financial condition and credit history and generally does not require collateral. Credit losses, if any estimated, are provided for in the consolidated financial statements and consistently have been within management’s expectations. See Note 15 — Revenue — Concentrations . Inventory, net The Company values inventories at the lower of cost or net realizable value on a first-in, first-out basis. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Inventories are reduced for write-downs based on periodic reviews for evidence of slow-moving or obsolete parts. The write-down is based on the comparison between inventory on hand and forecasted customer demand for each specific product. Once written down, inventory write-downs are not reversed until the inventory is sold or scrapped. Inventory write-downs are also established when conditions indicate the net realizable value is less than cost due to physical deterioration, technological obsolescence, changes in price level or other causes. All inventory provisions are recorded to cost of goods sold in the consolidated statement of operations. Property and Equipment, net The Company’s property and equipment primarily consist of lab equipment, production tooling and masks, equipment, furniture and fixtures, leasehold improvements, and computer hardware and software. Property and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method based on the estimated useful lives of between three Production masks with discernible future benefits, namely that they will be used to manufacture products to service customer demand, are capitalized and amortized over the estimated useful life of four years. Production masks being used for research and development or testing do not meet the criteria for capitalization and are expensed as research and development costs. Business Combinations The Company accounts for its business acquisitions under the ASC Topic 805, Business Combinations guidance for business combinations. The total cost of acquisitions is allocated to the underlying identifiable net assets based on their respective estimated fair values. Determining the fair value of assets acquired and liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. Intangible Assets, net two Goodwill Goodwill represents the excess of the fair value of purchase consideration of an acquired business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at a reporting unit level on an annual basis on October 1, or more frequently if circumstances change or an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Significant judgment may be required when goodwill is assessed for impairment. Qualitative factors may be assessed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a quantitative goodwill impairment test is not necessary. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company will perform a quantitative goodwill impairment test. The quantitative impairment test for goodwill consists of a comparison of the fair value of a reporting unit with its carrying value, including the goodwill allocated to that reporting unit. If the carrying value of a reporting unit exceeds its fair value, the Company will recognize an impairment loss equal to the amount of the excess, limited to the amount of goodwill allocated to that reporting unit. Application of the impairment test requires judgement, including the identification of reporting units, assignment of assets and liabilities to reporting units and the determination of fair value of each reporting unit. The Company did not record any impairment to goodwill for the years ended December 31, 2024, 2023 and 2022. Impairment of Long-Lived Assets The Company reviews its long-lived assets, consisting of property and equipment, right-of-use assets and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company regularly reviews its operating performance for indicators of impairment. Factors considered important that could trigger an impairment review include a significant underperformance relative to expected historical or projected future operating results, or a significant change in the manner of the use of the assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset (or asset group) to estimated undiscounted future cash flows expected to be generated by the asset (or asset group). If the carrying amount of an asset (or asset group) exceeds its estimated undiscounted future cash flows, an impairment charge is recognized to the extent the fair value is less than the carrying value. The Company recorded $998 of impairment charges related to certain property and equipment and right-of-use assets for the year ended December 31, 2024 as part of its Restructuring Plan (as defined below) initiative that commenced in August 2024 (see Note 4 — Restructuring Costs ). As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the consolidated statement of operations. The Company did not record any impairment to long-lived assets for the years ended December 31, 2023 and 2022. Fair Value Measurements Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between willing, able and knowledgeable market participants at the measurement date. Fair value measurements are not adjusted for transaction costs. In addition, a three-tiered hierarchy for inputs is used in management’s determination of fair value of financial instruments that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that the observable inputs be used when available. Observable inputs are market participant assumptions based on market data obtained from sources independent of the Company. Unobservable inputs are the reporting entity’s own assumptions about market participants based on the best information available under the circumstances. In assessing the appropriateness of using observable inputs in making its fair value determinations, the Company considers whether the market for a particular security is “active” or not based on all the relevant facts and circumstances. Valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested under the terms of service agreements. The inputs used by the valuation service providers include, but are not limited to, market prices from recently completed transactions and transactions of comparable securities, interest rate yield curves, credit spreads, currency rates and other market observable information, as applicable. The valuation models consider, among other things, market observable information as of the measurement date as well as the specific attributes of the security being valued including its term, interest rate, credit rating, industry sector and, when applicable, collateral quality and other issue or issuer specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determining fair value is greatly increased. As a basis for considering such assumptions, a three-tier value hierarchy is used in management’s determination of fair value based on the reliability and observability of inputs as follows: Level 1 — Valuations are based on unadjusted quoted prices in active markets that the Company has the ability to access for identical, unrestricted assets and do not involve any meaningful degree of judgment. An active market is defined as a market where transactions for the financial instrument occur with sufficient frequency and volume to provide pricing information on an ongoing basis; Level 2 — Valuations are based on direct and indirect observable inputs other than quoted market prices included in Level 1. Level 2 inputs include quoted prices for similar assets in active markets and inputs other than quoted prices that are observable for the asset, such as the terms of the security and market-based inputs; Level 3 — Valuations are based on techniques that use significant inputs that are unobservable. The valuation of Level 3 assets and liabilities requires the greatest degree of judgment. These measurements may be made under circumstances in which there is little, if any, market activity for the asset or liability. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment. In making the assessment, the Company considers factors specific to the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s fair value measurements in each reporting period include cash equivalents, debt instruments, share-based awards, contingent considerations and earn-out liabilities. The Company’s financial instruments of accounts receivable, accounts payable and accrued expenses are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. The Company continues to remeasure its contingent considerations and earn-out liabilities associated with business combinations using Level 3 fair value measurements. Warrant Liability The Company accounted for the Public Warrants and the Private Warrants, which were issued on June 10, 2021 in connection with the Transaction (as defined below), in accordance with ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity (“ASC 815”), under which the Warrants do not meet the criteria for equity classification and must be recorded as liabilities. As the Warrants did not meet the definition of a derivative as contemplated in ASC 815, the warrants were measured at fair value at inception and at each reporting date in accordance with ASC 820, Fair Value Measurement , with changes in fair value recognized as a component of Other income (expense), net on the consolidated statement of operations. During the year ended December 31, 2023, indie completed the exchange of the Warrants, which eliminated the need for future remeasurement of the warrant liabilities. See Note 1 - Nature of the Business and Basis of Presentation - Warrant Exchange for further information. Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company has multiple business activities and are managed and held accountable for operations, operating results and plans for levels or components below the consolidated unit level by individual segment managers. However, discrete financial information is not reviewed by CODM as the operating results of the Company are reviewed by the CODM only on a consolidated basis. Accordingly, the Company has one operating segment, and therefore, one reportable segment. Revenue Revenue is primarily derived from the design and sale of semiconductor solutions. Revenue is recognized within the scope of ASC 606, Revenue from Contracts with Customers . The Company recognizes product revenue in the consolidated statement of operations when it satisfies performance obligations under the terms of its contracts and upon transfer of control at a point in time when title transfers either upon shipment to or receipt by the customer as determined by the contractual shipping terms of the contract, net of accruals for estimated sales returns and allowances. To date, total returns and allowances issued by the Company has been de minimis. Sales and other taxes the Company collects, if any, are excluded from revenue. Product revenue arrangements do not contain significant financing components. The Company generally offers a limited warranty to customers covering a period of twelve months which obligates the Company to repair or replace manufacturing defective products. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, such warranties are accounted for under ASC 460, Guarantees , and the estimated costs of warranty claims are accrued as cost of goods sold in the period the related revenue is recorded. Infrequently, the Company offers an extended limited warranty to customers for certain products. The Company accrues for known warranty and indemnification issues if a loss is probable and can be reasonably estimated. As of December 31, 2024, total warranty liability is not material. Engineering services contracts with customers typically contain only one distinct performance obligation, which is primarily design services for integrated circuits (“ICs”) based on agreed upon specifications. Engineering services contracts typically also include the purchase, at the customer’s option, of the designed products at agreed upon prices subsequent to completion of the design services. The Company has determined that the option to purchase these products is not a material right and has not allocated transaction price to this provision. For these engineering services arrangements, revenue is recognized over time as services are provided based on the terms of the contract on an input basis, using costs incurred as the measure of progress and is recorded as contract revenue in the consolidated statement of operations. The costs incurred represent the most reliable measure of transfer of control to the customer. Revenue is deferred for amounts billed or received prior to delivery of the services. Practical Expedients and Elections ASC 606 requires disclosure of the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of the reporting periods presented. The guidance provides certain practical expedients that limit this requirement and, therefore, disclosure of the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed is not provided. The Company has elected not to disclose the aggregate amount of transaction prices associated with unsatisfied or partially unsatisfied performance obligations for contracts where these criteria are met. The Company’s policy is to capitalize any incremental costs incurred to obtain a customer contract, only to the extent that the benefit associated with the costs is expected to be longer than one year. Capitalizable contract costs were not significant as of both December 31, 2024 and 2023 and accordingly, no costs have been capitalized. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. When shipping and handling costs are incurred after a customer obtains control of the products, the Company has elected to account for these as costs to fulfill the promise and not as a separate performance obligation. Shipping and handling costs associated with the distribution of products to customers are insignificant, but if incurred, are recorded in cost of goods sold generally when the related product is shipped to the customer. Upon adoption of ASC 842, Leases , the Company elected the package of practical expedients permitted under the transition guidance, which does not require reassessment of prior conclusions related to contracts containing a lease, lease classification and initial direct lease costs. Further, the Company elected to exclude short-term leases (term of 12 months or less) from the balance sheet presentation and accounted for non-lease and lease components in a contract as a single lease for certain asset classes. Cost of Goods Sold Cost of goods sold includes cost of materials and contract manufacturing services, including semiconductor wafers processed by third-party foundries, costs associated with packaging, assembly, testing and shipping products. In addition, cost of goods sold includes the costs of personnel, certain royalties for embedded intellectual property, production tooling used in the manufacturing process, logistics, warranty, and amortization of production mask costs. Cost of goods sold also include amortization of certain intangible assets acquired through business combinations. Research and Development Expenses Research and development expenses consist of costs incurred in performing product design and development activities including employee compensation and benefits, third-party fees paid to consultants, occupancy costs, pre-production engineering mask costs, engineering samples and prototypes, packaging, test development and product qualification costs. In certain situations, the Company enters into engineering services agreements with certain customers to develop ICs. The costs incurred in satisfying these contracts are recorded as research and development expenses. Research and development expenses also include amortization of certain intangible assets acquired through business combinations. All research and development costs are expensed as incurred. Selling, General, and Administrative Expenses Selling, general, and administrative expenses include employee compensation and benefits for sales, executive management, finance, accounting, legal, human resources and other administrative personnel. In addition, it includes marketing and advertising, outside legal, tax and accounting services, insurance, and occupancy costs and related overhead costs allocated based on headcount. Selling, general, and administrative costs also include amortization of certain intangible assets acquired through business combinations. Selling, general, and administrative costs are expensed as incurred. Restructuring Costs In August 2024, the Company initiated a plan intended to improve its operating performance (the “Plan”). The Plan consisted of actions including but not limited to, workforce and facilities reductions. Due to the size, nature and frequency of this Plan, it is fundamentally different from the Company’s ongoing productivity actions. As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the consolidated statement of operations. Share-Based Compensation The Company recognizes compensation expense for all share-based payment awards made to employees and directors. The fair value of share-based payment awards is amortized over the requisite service period, which is defined as the period during which an employee is required to provide service in exchange for an award. The Company generally uses a straight-line attribution method for all grants that include only a service condition. Awards with both performance and service conditions are expensed over the service period for each separately vesting tranche. Share-based compensation expense recognized during the period includes actual expense on vested awards and expense associated with unvested awards. Forfeitures are recorded as incurred. Income Taxes On June 10, 2021, we completed a series of transactions (the “Transaction”) with Thunder Bridge Acquisition II, Ltd (“TB2”) pursuant to the Master Transactions Agreement dated December 14, 2020, as amended on May 3, 2021 (the “MTA”). In connection with the Transaction, Thunder Bridge II Surviving Pubco, Inc, a Delaware corporation (“Surviving Pubco”), was formed to be the successor public company to TB2, TB2 was domesticated into a Delaware corporation and merged with and into a merger subsidiary of Surviving Pubco, and Surviving Pubco changed its name to indie Semiconductor, Inc. As a result of the Transaction, indie Semiconductor, Inc. became the holding company for ADK LLC. ADK LLC is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, ADK LLC is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by ADK LLC is passed through to and included in the taxable income or loss of its members, including indie, based on its economic interest held in the partnership. indie is taxed as a corporation and is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of ADK LLC, as well as any stand-alone income or loss generated by indie. Income taxes are recognized based upon our underlying annual blended federal, state and foreign income tax rates for the year. As the sole managing member of ADK LLC, indie Semiconductor, Inc. consolidates the financial results of ADK LLC and its subsidiaries. Further, indie Semiconductor Inc. is taxed as a corporation and is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of ADK LLC, as well as any stand-alone income or loss generated by indie. Income tax benefits for the year ended December 31, 2024 are primarily related to our foreign operations. Income tax benefits for the year ended December 31, 2023 are primarily related to the tax effects of our acquisition structure of GEO Semiconductor, Inc. (“GEO”) and release of valuation allowance in China. The Company accounts for income taxes under the asset and liability method pursuant to ASC 740 for its corporate subsidiaries. Under this method, the Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized based on all available positive and negative evidence. As of December 31, 2024, the Company continues to maintain a full valuation allowance against its deferred tax assets in the United States, but has released the valuation allowance for entities in China. The Company recognizes liabilities for uncertain tax positions based on a two-step process regarding recognition and measurement. The Company recognizes a tax benefit only if it is more likely than not the tax position will be sustained on examination by the local taxing authorities based on the technical merits of the position. The Company then measures the tax benefits recognized in the financial statements from such positions based on the largest benefit greater than 50% likelihood of being realized upon ultimate settlement with the related tax authority. The changes in recognition or measurement are reflected in the period in which the change in judgment occurs based on new information not previously available. As of December 31, 2024, the Company has not identified any uncertain tax positions. The Company records interest and penalties related to unrecognized tax benefits in its tax provision. As of December 31, 2024, no accrued interest or penalties are recorded on the consolidated balance sheet, and the Company has not recorded any related expenses. Comprehensive Loss Other comprehensive loss consists of two components, net loss and other comprehensive income (loss) (“OCI”). OCI refers to revenue, expenses and gains and losses that under U.S. GAAP are recorded as an element of stockholders’ equity and excluded from net income (loss). indie’s OCI consists of foreign currency translation adjustments from its subsidiaries not using the U.S. dollar as their functional currency. Foreign currency translation gain (loss) adjustments of $(18,814), $5,781 and $(10,624) represent the difference between net loss and comprehensive loss for the years ended December 31, 2024, 2023 and 2022, respectively. Net Loss Per Share Attributable to Common Stockholders The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. The computation of net loss attributable to common stockholders is computed by deducting net earnings or loss attributable to non-controlling interests from the consolidated net earnings or loss. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The dilutive effect of these potential comm

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations The Company acquired Silicon Radar in February 2023, GEO in March 2023, Exalos in September 2023 and Kinetic in January 2024. These acquisitions were recorded by allocating the purchase consideration to the net assets acquired based on their estimated fair values at the acquisition date. The excess of the purchase consideration for the acquisition over the fair value of the net assets acquired is recorded as goodwill. The following presents the final allocation of the purchase consideration to the assets acquired and liabilities assumed for the aforementioned businesses as of December 31, 2024: Kinetic Exalos Silicon Radar GEO Purchase price — cash consideration paid $ 3,200 $ — $ 8,653 $ 91,076 Purchase price — cash consideration accrued 1,300 — 800 3,464 Less: cash acquired — (3,439) (208) (1,092) Net cash consideration $ 4,500 $ (3,439) $ 9,245 $ 93,448 Purchase price — equity consideration issued (common stock) $ — $ 42,791 $ 9,834 $ 75,556 Purchase price — equity consideration issuable (common stock) — 2,500 — 20,979 Total equity consideration $ — $ 45,291 $ 9,834 $ 96,535 Contingent consideration 4,599 9,755 9,240 59,280 Net consideration $ 9,099 $ 51,607 $ 28,319 $ 249,263 Estimated fair value of net assets and liabilities assumed: Current assets other than cash $ 5,306 $ 4,531 $ 2,979 $ 24,043 Property and equipment 950 1,253 781 178 Developed technology 250 23,100 4,950 69,330 In-process research & development 1,250 7,600 8,870 27,040 Customer relationships 160 6,870 4,340 14,220 Backlog 170 1,220 150 390 Trade name 15 4,300 2,130 10,320 Other non-current assets 729 — 17 10 Current liabilities (753) (3,541) (1,585) (6,084) Deferred revenue — — (512) — Deferred tax liabilities, non-current — (8,660) (2,772) (1,982) Other non-current liabilities (217) — — (711) Total fair value of net assets acquired $ 7,860 $ 36,673 $ 19,348 $ 136,754 Goodwill $ 1,239 $ 14,934 $ 8,971 $ 112,509 For all acquisitions, trade receivables and payables, as well as other current and non-current assets and liabilities and deferred revenue, were valued at the existing carrying value as they represented the fair value of those items at the acquisition date, based on management’s judgments and estimates. The aggregated amount of revenue from the acquired businesses in 2023 included in the Company’s consolidated statement of operations from their acquisition dates through December 31, 2023 is $59,687. It is impracticable for the Company to disclose the aggregated net earnings of these business combinations included in the Company’s consolidated statement of operations from their acquisition dates through December 31, 2023 as the Company merged GEO into ADK LLC shortly after the acquisition such that the operating activities are comingled within ADK LLC. Acquisition of Kinetic On January 25, 2024 (“Deal Closing Date”), indie and ADK LLC completed its acquisition of Kinetic. The acquisition was consummated pursuant to an executed APA to acquire certain research and development personnel, intellectual property and business properties from Kinetic, in support of a custom product development for a North American electric vehicle OEM. The closing consideration consisted of (i) $3,200 in cash as the Initial Cash Consideration, net of an adjustment holdback amount of $500 and an indemnity holdback amount of $800, (ii) the Production Earnout with fair value of $2,348, payable in cash or Class A common stock, subject to achievement of certain production based milestones 24 months after the Deal Closing Date, and (iii) the Revenue Earnout with fair value of $2,251, payable in cash or Class A common stock, subject to achievement of certain revenue based milestones 12 months after the Deal Closing Date. The purchase price is subject to working capital and other adjustments as provided in the APA. The indemnity holdback amount is payable within five The Company paid a premium (i.e., goodwill) over the fair value of the net tangible and identified intangible assets acquired as this acquisition brings the Company a new family of smart connectivity solutions that enable high-speed networking of displays and controllers throughout the vehicle, which already generated interest from OEMs. The goodwill is expected to be deductible for tax purposes. indie incurred various acquisition-related costs, which were primarily legal expense, and recorded these as part of the Selling, General and Administrative expenses. Total costs incurred are $352 for the twelve months ended December 31, 2024. The Company maintains an adjustment holdback and an indemnity holdback for the purpose of providing security against any adjustment to the amounts at closing. The adjustment holdback of $500 was released in July 2024 through a cash settlement while the indemnity holdback of $800 is reflected in Accrued expenses and other current liabilities as its holdback period extends for 18 months from the Deal Closing Date. The indemnity holdback will be paid in cash. Total purchase consideration transferred at the Deal Closing Date also included contingent consideration that had a total fair value of $4,599 as of the acquisition date. The acquisition date fair value of the contingent considerations was determined based on the Company’s assessment of the probability of achieving the performance targets that ultimately obligate the Company to transfer additional consideration to the seller. The contingent consideration is comprised of two tranches and both are payable in cash or Class A common stock, at indie’s election. The Production Earnout pays up to a maximum of $3,000, upon fulfillment of certain production volume of a predetermined product within 24-month period ending on January 24, 2026. The Revenue Earnout pays up to a maximum of $2,500 upon the achievement of a minimum revenue threshold of $12,000 for the 12-month period ending on January 24, 2025. The fair value of any outstanding contingent consideration liabilities will be remeasured as of the end of each reporting period with any resulting remeasurement gains or losses recognized in the consolidated statement of operations. The Revenue Earnout is reflected in Contingent considerations and the Production Earnout is reflected in Other long-term liabilities in the consolidated balance sheet as of December 31, 2024. Pro forma financial information for Kinetic is not disclosed as the results are not material to the Company’s consolidated financial statements. As of December 31, 2024, the Company finalized the opening net assets acquired and goodwill as follows: Preliminary Valuation Adjustment Final Inventory 4,444 (734) 3,710 Property and equipment 962 (12) 950 Developed technology 455 (205) 250 In-progress research & development 750 500 1,250 Customer relationships 250 (90) 160 Backlog 19 151 170 Trade name 97 (82) 15 Goodwill 767 472 1,239 Changes in fair value of inventory, property and equipment were a result of gathering additional information during the measurement period. The Company also revised the initial values of intangible assets as a result of switching from utilizing publicly available benchmarking information to determine the fair value of the intangible assets to primarily utilizing an income method based on forecasts of expected future cash flows. Developed technology relates to the high-speed data connectivity technology, which can be applied to various automotive usage and immediately expands indie’s automotive user experience product and technology. Developed technologies was valued using relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar technologies and was further adjusted to reflect the maintenance R&D expenses associated with sustaining the technology. The economic useful life was determined to be two years based on the remaining technology cycle related to each developed technology, as well as the cash flows over the forecast period. Customer relationships represent the fair value of future projected revenue that will be derived from sales of products to existing customers of Kinetic. The fair value was determined by applying the excess earnings method of the income approach. The economic useful life was determined to be ten years. Backlog relates to various purchase orders in place with Kinetic’ customers at the time of the acquisition. The fair value was determined by applying the excess earnings method of the income approach. The economic useful life was determined to be two years. Trade name relates to the “Kinetic” trade name. The fair value was determined by applying the relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar brand names. The economic useful life was determined to be three years. The fair value of IPR&D was determined using the relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar technologies and was further adjusted to reflect the maintenance R&D expenses associated with sustaining the technology. Under both the relief from royalty and multi-period excess earnings methods, the fair value models incorporated estimates of future cash flows, estimates of allocations of certain assets and cash flows, estimates of future growth rates and management’s judgment regarding the applicable discount rates to use to discount such estimates of cash flows. Because the estimates and assumptions made by management at the time of the acquisitions are unobservable and significant to the overall fair value measurement of these acquired identifiable intangible assets, the corresponding fair values are classified as Level 3 fair value hierarchy measurements. Acquisition of Exalos AG On September 18, 2023, Ay Dee Kay Ltd. completed its acquisition of Exalos, pursuant to that Share Sale and Purchase Agreement by and among Ay Dee Kay Ltd., the Company and all of the stockholders of Exalos, whereby Ay Dee Kay Ltd. acquired all of the outstanding common shares of Exalos. The closing consideration consisted of (i) approximately 6,613,786 shares of Class A common stock of the Company, with a fair value of $42,791; (ii) a contingent consideration with fair value of $9,755 at closing, payable in cash or Class A common stock, subject to Exalos’ achievement of certain revenue-based milestones through September 30, 2025; and (iii) a holdback of $2,500 subject to final release 12 months from the acquisition date payable in shares of Class A common stock. The purchase price is subject to working capital and other adjustments as provided in the Share Sale and Purchase Agreement. The Company paid a premium (i.e., goodwill) over the fair value of the net tangible and identified intangible assets acquired as this acquisition immediately expands the Company’s ADAS and User Experience product and technology offering to its global tier one and automotive OEM customer base. Specifically, indie can now leverage Exalos’ technology portfolio to extend its FMCW LiDAR portfolio. The goodwill is not expected to be deductible for tax purposes. The Company incurred various acquisition-related costs, which were primarily legal expenses and recorded as part of the S elling, General and Administrative expenses. Total costs incurred were $384 and $621 for the years ended December 31, 2024 and 2023, respectively. The Company maintained an adjustment holdback for the purpose of providing security against any adjustment to the amounts at closing. The holdback period extended for 12 months from the closing date and was paid in shares of Class A common stock. On September 27, 2024, the adjustment holdback was settled and 610,975 shares of Class A common stock were issued with a final fair value of $2,548. Accordingly, the fair value of the adjustment holdback liability was reduced to zero as of December 31, 2024 and a loss of $48 was recorded in Other income (expense), net for the year ended December 31, 2024 in the consolidated statement of operations. Total purchase consideration transferred at closing also included contingent consideration that had a fair value of $9,755 as of the acquisition date. The acquisition date fair value of the contingent consideration was determined based on the Company’s assessment of the probability of achieving the performance targets that ultimately obligate the Company to transfer additional consideration to the seller through the Monte Carlo simulation. The contingent consideration is comprised of two tranches, with maximum payout up to $13,500 and $6,500, respectively, both subject to Exalos achieving certain revenue targets. Both tranches are payable in cash or Class A common stock, at indie’s election, up to a maximum of $20,000, upon the achievement of a revenue threshold of $19,000 for the 12-month period ended on September 30, 2024 and the achievement of a revenue threshold of $21,000 for the 12-month period ending on September 30, 2025, respectively. The fair value of any outstanding contingent consideration liabilities are remeasured as of the end of each reporting period with any resulting remeasurement gains or losses recognized in the consolidated statement of operations. In November 2024, the Company settled the first tranche through the issuance of 2,845,243 shares of Class A common stock with a fair value of $9,930 at the time of issuance, and a cash payment of $2,536 . The second tranche of this earn-out liability is reflected in Contingent considerations in the consolidated balance sheet as of December 31, 2024. As of September 30, 2024, the Company finalized the opening net assets acquired and goodwill as follows: Preliminary Valuation Adjustment Final Purchase price — contingent considerations $ 13,225 $ (3,470) $ 9,755 Inventory 1,934 123 2,057 Property and equipment 1,001 252 1,253 Developed technology 7,968 15,132 23,100 In-progress research & development 7,968 (368) 7,600 Customer relationships 5,312 1,558 6,870 Backlog 664 556 1,220 Trade name 3,984 316 4,300 Deferred tax liabilities, non-current (5,330) (3,330) (8,660) Operating lease right-of-use assets step-up 664 (664) — Goodwill 31,979 (17,045) 14,934 Change in the contingent considerations was driven by updating the valuation methodology from probability-weighted method to Monte Carlo Simulations analysis. The Company initially used the probability-weighted method to determine the fair value of the equity-based earn out as certain information was not available to conduct the Monte Carlo Simulations analysis. Changes in fair value of inventory, property and equipment, operating lease right-of-use assets step-up and deferred tax liabilities were a result of gathering additional information during the measurement period. The Company also revised the initial values of intangible assets as a result of switching from utilizing publicly available benchmarking information to determine the fair value of the intangible assets to primarily utilizing an income method based on forecasts of expected future cash flows. As a result, the Company recorded an adjustment to increase the amortization of intangible assets of $554 in the consolidated statement of operations during the year ended December 31, 2024 that would have been recorded during the year ended December 31, 2023 if the adjustment to the intangible assets had been recognized as of the date of the acquisition. Developed technology relates to near-infrared super-luminescent diodes (“SLEDs”), which can be used in Fiber-Optic Gyroscopes (“FOG”) for aerospace and defense navigation systems and sensors for fiber-optic sensing applications. Exalos existing SLEDs technology is complementary to TeraXion’s fiber-optic technology and immediately expands indie’s ADAS and user experience product and technology. Developed technologies was valued using relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar technologies and was further adjusted to reflect the maintenance R&D expenses associated with sustaining the technology. The economic useful life was determined to be ten years based on the technology cycle related to each developed technology, as well as the cash flows over the forecast period. Customer relationships represent the fair value of future projected revenue that will be derived from sales of products to existing customers of Exalos. The fair value was determined by applying the excess earnings method of the income approach. The economic useful life was determined to be seven years. Backlog relates to various purchase orders in place with Exalos’ customers at the time of the acquisition. The fair value was determined by applying the excess earnings method of the income approach. The economic useful life was determined to be two years. Trade name relates to the “Exalos” trade name. The fair value was determined by applying the relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar brand names. The economic useful life was determined to be seven years. The fair value of IPR&D was determined using the relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar technologies and was further adjusted to reflect the maintenance R&D expenses associated with sustaining the technology. Under both the relief from royalty and multi-period excess earnings methods, the fair value models incorporated estimates of future cash flows, estimates of allocations of certain assets and cash flows, estimates of future growth rates and management’s judgment regarding the applicable discount rates to use to discount such estimates of cash flows. Because the estimates and assumptions made by management at the time of the acquisitions are unobservable and significant to the overall fair value measurement of these acquired identifiable intangible assets, the corresponding fair values are classified as Level 3 fair value hierarchy measurements. Pro forma financial information for Exalos is not disclosed as the results are not material to the Company’s consolidated financial statements. Acquisition of GEO Semiconductor Inc. On February 9, 2023, indie entered into an Agreement and Plan of Merger, pursuant to which Gonzaga Merger Sub Inc., a Delaware corporation and indie’s wholly-owned subsidiary, will merge with and into GEO Semiconductor Inc., a Delaware corporation, with GEO surviving as a wholly-owned subsidiary of indie. The aggregate consideration for this transaction consisted of (i) $93,448 in cash (including accrued cash consideration at closing and net of cash acquired); (ii) the issuance by indie of 6,868,768 shares of Class A common stock at closing, with a fair value of $75,556; (iii) 1,907,180 shares of Class A common stock at closing, with a fair value of $20,979 payable after closing for the purpose of adjustment and indemnity holdbacks as described below; and (iv) contingent consideration with fair value of $59,280 at closing payable in cash or in Class A common stock as described below. The purchase price is subject to working capital and other adjustments as provided in the Agreement and Plan of Merger. The transaction was completed on March 3, 2023. The Company incurred various acquisition-related costs, which were primarily legal expense and recorded as part of the S elling, General and Administrative expenses. Total costs incurred are $2,473 for the year ended December 31, 2023. GEO has programs with major image sensor suppliers and is engaged in multiple EV and autonomous vehicle programs. Its products comprise three generations of application specific camera video processors, including those focused on viewing, where video is projected on a display and viewed by the driver, and sensing, where video is processed using advanced computer vision and machine learning algorithms to assist the driver. The unique ability to support both of these key categories is expected to allow indie to deliver solutions in applications ranging from simple backup cameras to full Autonomous Driving platforms. Accordingly, indie paid a premium (i.e., goodwill) over the fair value of the net tangible and identifiable intangible assets acquired as this acquisition is expected to continue to strengthen indie’s expansion into the ADAS and autonomous vehicles market. The goodwill is not expected to be deductible for tax purposes. The Agreement and Plan of Merger allowed the Company to maintain an indemnity and adjustment holdback for the purpose of providing security against any adjustment to the amounts at closing. The indemnity holdback period extends for 24 months from the anniversary of the closing date. The indemnity holdback will be settled by transferring up to 1,566,472 shares of the Company’s Class A common stock. The fair value of the indemnity holdback was $17,231 as of the acquisition date. The adjustment holdback represents up to 340,708 shares of the Company’s stock and its period extended for 60 days from the closing date. The fair value of the adjustment holdback was $3,748 as of the acquisition date. The fair value of any outstanding liabilities will be remeasured as of the end of each reporting period with any resulting remeasurement gains or losses recognized in the consolidated statement of operations. On July 7, 2023, the adjustment holdback was settled and 291,366 shares of Class A common stock were issued with a final fair value of $2,651. Accordingly, the fair value of the adjustment holdback was reduced to zero as of December 31, 2023 and a gain of $1,096 was recorded in Other income (expense), net for the year ended December 31, 2023 in the consolidated statement of operations. The indemnity holdback is reflected in Accrued expenses and other current liabilities in the consolidated balance sheet as of December 31, 2024. Total purchase consideration transferred at closing included contingent consideration that had a fair value of $59,280 as of the acquisition date, which was determined by conducting a Monte Carlo Simulation analysis. The contingent consideration is comprised of two tranches, both subject to GEO achieving certain GEO-related revenue targets. The first tranche was payable, up to a maximum of $55,000, upon the achievement of revenue threshold of $20,000 for the twelve-month period ended on March 31, 2024. The second tranche was payable, up to a maximum of $35,000, upon the achievement of revenue threshold of $10,000 for the six-month period ended on September 30, 2024. Both tranches were payable in cash or Class A common stock, at indie’s election. The number of shares issuable through a payment in common stock equaled to the earnout value divided by a 20 days VWAP ending on each earnout period and is collared between $8.50 and $11.50 per share (“Earnout Parent Trading Price”). If the Company elect to pay the earn-out consideration in cash, the amount will be determined by multiplying the number of shares payable by the Earnout Parent Trading Price. The fair value of any outstanding contingent consideration liabilities was remeasured as of the end of each reporting period with any resulting remeasurement gains or losses recognized in the consolidated statement of operations. In May 2024, the Company settled the first tranche through the issuance of 6,096,951 shares of Class A common stock with a fair value of $40,667 at the time of issuance. In December 2024, the Company settled the second tranche through the issuance of 1,015,621 shares of Class A common stock with a fair value of $4,459 at the time of issuance. As of December 31, 2023, the Company finalized the opening net assets acquired and goodwill. The fair value of inventory was calculated using the cost of goods sold to estimate the selling price. The selling price was adjusted for selling costs and a reasonable profit margin. Developed technology relates to a primary product GEO held at the time of acquisition and was valued using Multi-Period Excess Earnings Method (“MPEEM”) approach, which estimates value based upon the present value of future economic benefits. This method determines the value of the specific intangible asset as the present value of ‘excess’ cash flows or income attributable to a specific intangible asset after an appropriate return for all other assets used in the operation of the corresponding business have been accounted for. The economic useful life was determined to be eight years based on the technology cycle, as well as the cash flows over the forecast period. The fair value of IPR&D, was determined using the replacement cost approach, which represents a systematic framework for estimating the value of intangible assets based upon the economic principle of substitution. If the development is abandoned in the future, these assets will be expensed in the period of abandonment. If and when the development activities are completed, IPR&D assets will be reclassified to developed technology, management will make a determination of the useful lives and methods of amortization of these assets. Customer relationships represents the fair value of future projected revenue that will be derived from sales of products to existing customers of GEO. The fair value was determined by applying the distributor method, which is a variation of the MPEEM. The economic useful life was determined to be twelve years. Backlog relates to various purchase orders in place with GEO’s customers at the time of the acquisition. The fair value was determined by applying the distributor method. The economic useful life was determined to be two years. Trade name relates to the trade names held by GEO. The fair value was determined by applying the relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar brand names. The economic useful life was determined to be eight years. Under both the relief from royalty method and MPEEM, the fair value models incorporated estimates of future cash flows, estimates of allocations of certain assets and cash flows, estimates of future growth rates and management’s judgment regarding the applicable discount rates to use to discount such estimates of cash flows. Because the estimates and assumptions made by management at the time of the acquisitions are unobservable and significant to the overall fair value measurement of these acquired identifiable intangible assets, the corresponding fair values are classified as Level 3 fair value hierarchy measurements. The amount of revenue of GEO included in the Company’s consolidated statement of operations from the acquisition date of March 3, 2023 through December 31, 2023 is $48,417. It is impracticable for the Company to disclose the net earnings of GEO included in the Company’s consolidated statement of operations from the acquisition date of March 3, 2023 through December 31, 2023 as the Company merged GEO into ADK LLC shortly after the acquisition such that the operating activities are comingled within ADK LLC. The unaudited pro forma financial information shown below summarizes the combined results of operations for the Company and GEO as if the closing of the acquisition had occurred on January 1, 2023: Year ended Year ended December 31, 2022 Combined revenue $ 226,839 $ 160,748 Combined net loss before income taxes $ (143,046) $ (87,020) The unaudited pro forma financial information includes adjustments that are directly attributable to the business combination and are factually supportable. Pro forma information reflects adjustments that are expected to have a continuing impact on the Company’s results of operations and are directly attributable to the acquisition. The unaudited pro forma results include adjustments to reflect, among other things, direct transaction costs relating to the acquisition, the incremental intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset, and to eliminate a portion of the interest expense related to legacy GEO’s former loans, which were settled upon completion of the acquisition. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been realized if the acquisition had taken place on January 1, 2023. Acquisition of Silicon Radar GmbH On February 21, 2023, Symeo, a wholly-owned subsidiary of the Company, completed its acquisition of all of the outstanding capital stock of Silicon Radar. The acquisition was consummated pursuant to a Share Purchase Agreement by and among Symeo, the Company and the holders of the outstanding capital stock of Silicon Radar. The closing consideration consisted of (i) $9,245 in cash (including accrued cash consideration at closing and net of cash acquired), (ii) approximately 982,445 shares of Class A common stock of the Company, with a fair value of $9,834, and (iii) a contingent consideration payable in cash or in Class A common stock subject to Silicon Radar’s achievement of certain revenue-based milestones through February 21, 2025. The fair value of this contingent consideration was $9,240 on February 21, 2023. The purchase price is subject to working capital and other adjustments as provided in the Share Purchase Agreement. The Company paid a premium (i.e., goodwill) over the fair value of the net tangible and identified intangible assets acquired as this acquisition brings the Company an engineering development team with broad experience in radar system, which is expected to expand indie’s entry into the radar market and enable the Company to capture strategic opportunities among Tier 1 customers. The goodwill is not expected to be deductible for tax purposes. indie incurred various acquisition-related costs, which were primarily legal expense and recorded as part of the S elling, General and Administrative expenses. Total costs incurred are $717 for the year ended December 31, 2023. The Company maintained an adjustment holdback for the purpose of providing security against any adjustment to the amounts at closing. The holdback period extended for 12 months from the closing date and was settled by cash in February 2024. Total purchase consideration transferred at closing also included contingent consideration that had a fair value of $9,240 as of the acquisition date, which was determined by conducting a Monte Carlo Simulation Analysis. The contingent consideration is comprised of two tranches, both subject to Silicon Radar achieving certain revenue targets. Both tranches are payable, up to a maximum of $9,000, upon the achievement of revenue threshold of $5,000 for the twelve-month period ended on February 21, 2024 and the achievement of revenue threshold of $7,000 for the twelve-month period ending on February 21, 2025, respectively. Both tranches are payable in cash or Class A common stock, at indie’s election. Should indie elect to pay in common stock, the number of shares issuable through a payment in Class A common stock equals to earnout divided by a volume-weighted-average-price (“VWAP”) for 20 days ending prior to the due date for payment. The fair value of any outstanding contingent consideration liabilities is remeasured as of the end of each reporting period with any resulting remeasurement gains or losses recognized in the consolidated statement of operations. In May 2024, the Company settled the first tranche through the issuance of 1,103,140 shares of Class A common stock with a fair value of $6,045 at the time of issuance. The second tranche of this earn-out liability is reflected in Contingent considerations in the consolidated balance sheet as of December 31, 2024. As of December 31, 2023, the Company finalized the opening net assets acquired and goodwill. The fair value of inventory was calculated using the cost of goods sold to estimate the selling price. The selling price was adjusted for selling costs and a reasonable profit margin. Four separate developed technologies relating to radar sensors with different frequencies were identified at the time of the acquisition. Developed technologies were each valued using relief from royalty of the income approach. The selected royalty rate was determined based on an analysis of licensing agreements related to similar technologies and was further adjusted to reflect the maintenance R&D expenses as

Restructuring Costs

Restructuring Costs	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs In August 2024, the Company initiated the Restructuring Plan, which consisted of actions including but not limited to, workforce and facilities reductions. These actions commenced during the third quarter of 2024 and were substantially completed at December 31, 2024. Due to the size, nature and frequency of this Plan, it is fundamentally different from the Company’s ongoing productivity actions. As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the Company’s consolidated statement of operations for the year ended December 31, 2024. Liabilities associated with the Restructuring Plan are separately reflected in Accrued payroll liabilities and Accrued expenses and other current liabilities in the Company’s consolidated balance sheet for personnel and non-personnel related charges, respectively. For the year ended December 31, 2024, the Company incurred total charges of $4,332 and remaining liabilities as of December 31, 2024 totaled $884.

Inventory, net

Inventory, net	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventory, net	Inventory, net Inventory, net consists of the following: December 31, 2024 2023 Raw materials $ 14,496 $ 7,360 Work-in-process 21,229 12,423 Finished goods 18,737 15,896 Inventory, gross 54,462 35,679 Less: Inventory reserves 4,575 2,538 Inventory, net $ 49,887 $ 33,141 During the years ended December 31, 2024, 2023 and 2022, the Company recognized write-downs in the value of inventory of $1,918, $746, and $1,563, respectively.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consists of the following: December 31, Useful life 2024 2023 (in years) Production tooling 4 $ 21,256 $ 16,428 Lab equipment 4 14,484 12,887 Office equipment 3 - 7 10,162 6,539 Leasehold improvements * 1,921 1,898 Construction in progress 7,597 3,867 Property and equipment, gross 55,420 41,619 Less: Accumulated depreciation 21,139 14,653 Property and equipment, net $ 34,281 $ 26,966 * Leasehold improvements are amortized over the shorter of the remaining lease term or estimated useful life of the leasehold improvement. The Company recognized depreciation expense of $6,533, $5,367, and $3,168 for the years ended December 31, 2024, 2023 and 2022, respectively. The Company recorded $116 of impairment charges related to certain property and equipment for the year ended December 31, 2024 as part of its restructuring initiative that commenced in August 2024. Fixed assets not yet in service, or construction in progress, consist primarily of capitalized internal-use software and certain tooling and other equipment that are not yet ready to be placed into service.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Intangible Assets, Net Intangible assets, net consist of the following: December 31, 2024 December 31, 2023 Weighted Gross Accumulated Net Weighted Gross Accumulated Net Developed technology 5.8 $ 121,893 $ (33,609) $ 88,284 6.3 $ 106,512 $ (17,876) $ 88,636 Software licenses 2.8 23,706 (6,243) 17,463 1.0 23,745 (18,828) 4,917 Customer relationships 7.6 43,159 (9,118) 34,041 9.4 41,441 (5,156) 36,285 Intellectual property licenses 0.8 1,947 (1,736) 211 0.3 1,911 (1,736) 175 Trade names 4.9 26,301 (7,496) 18,805 6.0 25,970 (4,311) 21,659 Backlog 0.6 2,296 (1,683) 613 1.2 1,570 (700) 870 Effect of exchange rate on gross carrying amount (6,662) — (6,662) (917) — (917) Intangible assets with finite lives 212,640 (59,885) 152,755 200,232 (48,607) 151,625 IPR&D 57,390 — 57,390 56,508 — 56,508 Effect of exchange rate on gross carrying amount (1,201) — (1,201) 1 — 1 Total intangible assets with indefinite lives 56,189 — 56,189 56,509 — 56,509 Total intangible assets $ 268,829 $ (59,885) $ 208,944 $ 256,741 $ (48,607) $ 208,134 The Company obtained software licenses, which it uses for its research and development efforts related to its products. In both fiscal 2024 and 2023, the Company acquired developed technology, customer relationships, trade names, backlog and IPR&D as a result of business combinations. See Note 3 — Business Combinations for additional information. Further, during the year ended December 31, 2024, the Company acquired $20,585 of software licenses with a contractual life of three years and retired fully amortized intangible assets of $20,345 of software licenses. Intangible assets with finite lives are amortized on a straight-line basis over the expected period to be benefited by future cash flows. The Company monitors and assesses these assets for impairment on a periodic basis. For the years ended December 31, 2024, 2023, and 2022, the Company determined that there were no impairment of intangible assets. Amortization of intangible assets for the years ended December 31, 2024, 2023 and 2022 was $33,244, $26,481, and $11,644, respectively, and is included within Cost of goods sold, Research and development expenses , and Selling, general and administrative expenses based on their respective nature, in the consolidated statements of operations. Based on the amount of definite-lived intangible assets subject to amortization as of December 31, 2024, amortization expense for each of the next five fiscal years is expected to be as follows: 2025 $ 31,194 2026 29,215 2027 23,087 2028 19,239 2029 6,340 Thereafter 43,680 Total $ 152,755

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table sets forth the carrying amount and activity of goodwill as of December 31, 2024: December 31, 2024 2023 Balance at the beginning of the period $ 295,096 $ 136,463 Acquisitions (Note 3) 1,239 153,447 Measurement period adjustment for business combinations from prior year (17,045) — Effect of exchange rate on goodwill (12,922) 5,186 Balance at the end of the period $ 266,368 $ 295,096 During the year ended December 31, 2024, the change in goodwill was primarily driven by a $1,239 increase due to the acquisition of Kinetic completed during the period, a $17,045 decrease related to the completion of the purchase price allocation for Exalos, as well as a $12,922 decrease in value due to effect of exchange rate on goodwill. See Note 3 — Business Combinations for a detailed discussion of goodwill acquired as well as adjustments due to finalization of the business combination valuations. The change in goodwill during the year ended December 31, 2023, was primarily driven by a $31,967 increase due to the acquisition of Exalos completed during the period, and $112,509 and $8,971 increases due to the acquisitions of GEO and Silicon Radar, respectively, that were completed and finalized during the period, as well as a $5,186 increase in value due to effect of exchange rate on goodwill. The Company performed an impairment test of its goodwill as of the first day of the fourth fiscal quarter in accordance with its regularly scheduled testing. The results of this test indicated that the Company’s goodwill was not impaired. There were no other indicators of impairment noted during the years ended December 31, 2024, 2023 and 2022.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt The following table sets forth the components of debt as of December 31, 2024 and 2023: December 31, 2024 2023 Principal Unamortized Carrying Principal Unamortized Carrying 2027 Notes $ 160,000 $ (3,262) $ 156,738 $ 160,000 $ (4,288) $ 155,712 2029 Notes 218,500 (8,857) 209,643 — — — CIBC loan, due 2026 2,368 (2) 2,366 3,971 (13) 3,958 Total term loans 380,868 (12,121) 368,747 163,971 (4,301) 159,670 Revolving line of credit 12,583 (13) 12,570 1,171 — 1,171 Total debt $ 393,451 $ (12,134) $ 381,317 $ 165,142 $ (4,301) $ 160,841 The outstanding debt as of December 31, 2024 and 2023 is classified in the consolidated balance sheets as follows: December 31, 2024 2023 Current liabilities – Current debt obligations $ 12,220 $ 4,106 Noncurrent liabilities – Long-term debt net of current maturities 369,097 156,735 Total debt $ 381,317 $ 160,841 2029 Notes On December 6, 2024, indie completed a private offering of 3.50% Convertible Senior Notes (the “2029 Initial Notes”). The Notes were sold under a purchase agreement (the “2029 Notes Purchase Agreement”), dated as of December 3, 2024, entered into by and between the Company and Deutsche Bank Securities Inc., as representative of the several initial purchasers named therein (collectively the “2029 Notes Initial Purchasers”) pursuant to which the Company agreed to sell $190,000 aggregate principal amount of the “2029 Initial Notes. The Company also agreed to grant an option, during a 13-day period beginning on, and including, the date on which the notes are first issued (the “2029 Notes Option”) to the 2029 Notes Initial Purchasers to purchase all or part of an additional $28,500 aggregate principal amount of 3.50% Convertible Senior Notes due 2029 (the “2029 Additional Notes” and, together with the 2029 Initial Notes, the “2029 Notes”). On December 5, 2024, the 2029 Notes Initial Purchasers exercised the 2029 Notes Option in full, bringing the total aggregate principal amount for the 2029 Notes to $218,500. On December 3, 2024, in connection with the pricing of the 2029 Notes, the Company entered into privately negotiated capped call transactions (the “2029 Notes Base Capped Call Transactions”) with each of Deutsche Bank AG, London Branch, through its agent Deutsche Bank Securities Inc., Mizuho Markets Americas LLC, with Mizuho Securities USA LLC acting as agent, Royal Bank of Canada, represented by RBC Capital Markets, LLC as its agent, The Bank of Nova Scotia, UBS AG, London Branch, represented by UBS Securities LLC as its agent, and Wells Fargo Bank, National Association (the “2029 Option Counterparties”). In addition, on December 5, 2024, in connection with the 2029 Notes Initial Purchasers’ exercise of the Option in full, the Company entered into additional capped call transactions (the “2029 Notes Additional Capped Call Transactions” and, together with the 2029 Notes Base Capped Call Transactions, the “2029 Notes Capped Call Transactions”) with each of the 2029 Notes Option Counterparties. The 2029 Notes Capped Call Transactions cover, subject to customary anti-dilution adjustments substantially similar to those applicable to the 2029 Notes, the aggregate number of shares of the Company’s Class A common stock that initially underlie the 2029 Notes, and are expected generally to reduce the potential dilution to the Company’s common stock upon any conversion of the 2029 Notes and/or offset any cash payments the Company may be required to make in excess of the principal amount of converted 2029 Notes, as the case may be, with such reduction and/or offset subject to a cap, based on the cap price of the 2029 Notes Capped Call Transactions. The cap price of the 2029 Notes Capped Call Transactions is initially $8.06 per share, which represents a premium of 100% over the last reported sale price of the Company’s Class A common stock on The Nasdaq Capital Market on December 3, 2024. The cost of the 2029 Notes Capped Call Transactions was $23,380. The Company recorded the 2029 Notes Capped Call Transactions as separate transactions from the issuance of the 2029 Notes. The cost of $23,380 incurred to purchase the 2029 Notes Capped Call Transactions was recorded as a reduction to additional paid-in capital on the consolidated balance sheet as of December 31, 2024. The 2029 Notes will be convertible into cash, shares of the Company’s Class A common stock, or a combination of cash and shares of Class A common stock, at the Company’s election, at an initial conversion rate of 194.6188 shares of Class A common stock per $1,000 principal amount of the 2029 Notes, which is equivalent to an initial conversion price of approximately $5.14 per share of Class A common stock. The initial conversion price of the 2029 Notes represents a premium of approximately 27.50% over the $4.03 per share last reported sale price of the Class A common stock on The Nasdaq Capital Market on December 3, 2024. The conversion rate will be subject to adjustment upon the occurrence of certain specified events, but will not be adjusted for any accrued and unpaid interest, except under the limited circumstances described in the Indenture. In addition, upon the occurrence of a “Make-Whole Fundamental Change” (as defined in Section 1.01 of the Indenture) prior to the maturity date, or if the Company delivers a notice of redemption, the Company will, in certain circumstances, increase the conversion rate by a number of additional shares of Class A common stock (not to exceed 248.1399 shares of Class A common stock per $1,000 principal amount of the 2029 Notes, subject to adjustment in the same manner as the conversion rate) for 2029 Notes that are converted in connection with such Make-Whole Fundamental Change or for notes called (or deemed called) for redemption that are converted in connection with such notice of redemption. The 2029 Notes are convertible at the option of the holders (in whole or in part) at any time prior to the close of business on the business day immediately preceding September 15, 2029 only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2025 (and only during such calendar quarter), if the last reported sale price of the common stock, as determined by the Company, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the “Trading Price” (as defined in Section 1.01 of the Indenture) per $1,000 principal amount of 2029 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of common stock and the conversion rate on each such trading day; (3) if the Company calls such 2029 Notes for redemption, at any time prior to the close of business on the second scheduled trading day prior to the redemption date, but only with respect to the 2029 Notes called (or deemed called) for redemption; or (4) upon the occurrence of certain corporate events as specified in the Indenture. On or after September 15, 2029, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or a portion of their 2029 Notes, in multiples of $1,000 principal amount, at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in amounts determined in the manner set forth in the Indenture. The 2029 Notes are not redeemable at the Company’s option prior to December 20, 2027. The Company may redeem for cash all or any portion of the 2029 Notes (subject to a partial redemption limitation), at the Company’s option, on or after December 20, 2027 if the last reported sale price of the common stock, as determined by the Company, has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company redeems fewer than all the outstanding 2029 Notes, at least $50,000 aggregate principal amount of 2029 Notes must be outstanding and not subject to redemption as of the relevant redemption notice date. No sinking fund is provided for the 2029 Notes. The 2029 Notes have been recorded as long-term debt in its entirety pursuant to ASU 2020-06. The carrying value of the 2029 Notes is presented net of $8,967 of discount and issuance costs, which are amortized to interest expense over the respective terms of these borrowings. As of December 31, 2024, the total carrying value of the 2029 Notes, net of unamortized discount, was $209,643. As of December 31, 2024, the total fair value of the 2029 Notes was $228,333 or 104.50% of the aggregate principal amount of the 2029 Notes. The estimated fair values are based on Level 2 inputs as the fair value is based on quoted prices for the Company’s debt and comparable instruments in inactive markets. The amortization of the debt discount and cost of issuance resulted in non-cash interest expense of $109 for the year ended December 31, 2024, and is included in Interest Expense in the Company’s consolidated statements of operations. 2027 Notes On November 16, 2022, the Company entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC, as representative of the initial purchasers (collectively the “Initial Purchasers”), pursuant to which the Company agreed to sell $140,000 aggregate principal amount of 4.50% Convertible Senior Notes due 2027 (the “Initial Notes”). The Company also agreed to grant an option, exercisable within the 30-day period immediately following the date of the Purchase Agreement (the “Option”) to the Initial Purchasers to purchase all or part of an additional $20,000 aggregate principal amount of 4.50% Convertible Senior Notes due 2027 (the “Additional Notes” and, together with the Initial Notes, the “2027 Notes”). On November 17, 2022, the Initial Purchasers exercised the Option in full, bringing the total aggregate principal amount for the 2027 Notes to $160,000. The sale of the 2027 Notes closed on November 21, 2022. The 2027 Notes were issued pursuant to an Indenture dated November 21, 2022 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). Interest on the 2027 Notes is payable semiannually in arrears on May 15 and November 15 of each year, beginning on May 15, 2023. The 2027 Notes will mature on November 15, 2027, unless earlier repurchased, redeemed or converted. The 2027 Notes will be convertible into cash, shares of the Company’s Class A common stock, or a combination of cash and shares of Class A common stock, at the Company’s election, at an initial conversion rate of 115.5869 shares of Class A common stock per $1,000 principal amount of the 2027 Notes, which is equivalent to an initial conversion price of approximately $8.65 per share of Class A common stock. The initial conversion price of the 2027 Notes represents a premium of approximately 30% over the $6.655 per share last reported sale price of the Class A common stock on The Nasdaq Capital Market on November 16, 2022. The conversion rate will be subject to adjustment upon the occurrence of certain specified events, but will not be adjusted for any accrued and unpaid interest, except under the limited circumstances described in the Indenture. In addition, upon the occurrence of a “Make-Whole Fundamental Change” (as defined in Section 1.01 of the Indenture) prior to the maturity date, or if the Company delivers a notice of redemption, the Company will, in certain circumstances, increase the conversion rate by a number of additional shares of Class A common stock (not to exceed 150.2629 shares of Class A common stock per $1,000 principal amount of the 2027 Notes, subject to adjustment in the same manner as the conversion rate) for 2027 Notes that are converted in connection with such Make-Whole Fundamental Change or for notes called (or deemed called) for redemption that are converted in connection with such notice of redemption. The 2027 Notes are convertible at the option of the holders (in whole or in part) at any time prior to the close of business on the business day immediately preceding August 15, 2027 only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2022 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the “Trading Price” (as defined in Section 1.01 of the Indenture) per $1,000 principal amount of 2027 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate on each such trading day; (3) if the Company calls such 2027 Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date, but only with respect to the 2027 Notes called (or deemed called) for redemption; or (4) upon the occurrence of certain corporate events as specified in the Indenture. On or after August 15, 2027 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or a portion of their 2027 Notes, in multiples of $1,000 principal amount, at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of Class A common stock or a combination of cash and shares of Class A common stock, at the Company’s election, in amounts determined in the manner set forth in the Indenture. The Company may not redeem the 2027 Notes prior to November 20, 2025. indie may redeem for cash all or any portion of the 2027 Notes, at indie’s option, on or after November 20, 2025 if the last reported price of indie’s Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which indie provides notice of redemption, at a redemption price equal to 100% of the principal amount of the 2027 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Upon the occurrence of a “Fundamental Change” (as defined in Section 1.01 of the Indenture), subject to certain conditions and certain limited exceptions, holders may require the Company to repurchase for cash all or any portion of their 2027 Notes in principal amounts of $1,000 or an integral multiple thereof at a fundamental change repurchase price in cash equal to 100% of the principal amount of the 2027 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The 2027 Notes are senior unsecured obligations of the Company and rank: (i) senior in right of payment to any indebtedness of the Company that is expressly subordinated in right of payment to the 2027 Notes; (ii) equal in right of payment to any unsecured indebtedness of the Company that is not so subordinated; (iii) effectively junior in right of payment to any senior, secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness; and (iv) structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries. The 2027 Notes have been recorded as long-term debt in its entirety pursuant to ASU 2020-06. The carrying value of the 2027 Notes is presented net of $5,374 of discount and issuance costs, which are amortized to interest expense over the respective terms of these borrowings. As of December 31, 2024 and 2023, the total carrying value of the 2027 Notes, net of unamortized discount, was $156,738 and $155,712, respectively. As of December 31, 2024, the total fair value of the 2027 Notes was $146,416 or 91.51% of the aggregate principal amount of the 2027 Notes. As of December 31, 2023, the total fair value of the 2027 Notes was $191,648 or 119.78% of the aggregate principal amount of the 2027 Notes. The estimated fair values are based on Level 2 inputs as the fair value is based on quoted prices for the Company’s debt and comparable instruments in inactive markets. The amortization of the debt discount and cost of issuance resulted in non-cash interest expense of $1,026, $970, and $116 for the years ended December 31, 2024, 2023, and 2022, respectively, and is included in Interest Expense in the Company’s consolidated statements of operations. During the year ended December 31, 2022, in connection with the offering of the 2027 Notes, the Company entered into privately negotiated transactions through one of the initial purchasers or its affiliate to repurchase 1,112,524 shares of Class A common stock, at an average cost of $6.65 per share, for approximately $7,404. indie Semiconductor Revolving Line of Credit On March 29, 2024, the Company entered into a revolving line of credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”) with a credit limit of $10,000, bearing interest at the Secured Overnight Financing Rate (“SOFR”) plus 1.75%. The outstanding principal balance is due and payable in full on March 28, 2025. Interest is payable monthly beginning on May 1, 2024 through the maturity date. This line of credit required the Company to collateralize a cash balance equal to the total outstanding balance in a cash security account with Wells Fargo, which resulted in a total restricted cash of $10,000 as of December 31, 2024. Fees of $50 incurred will be amortized over the life of the credit agreement. This revolving line of credit had an outstanding balance of $10,000 as of December 31, 2024. During the year ended December 31, 2024, the cash and non-cash interest were individually and in the aggregate de minimus. TeraXion Revolving Credit In connection with the acquisition of TeraXion on October 12, 2021, the Company assumed a revolving credit with the Canadian Imperial Bank of Commerce (“CIBC”) with a credit limit of CAD9,440 bearing interest at prime rate plus 0.25%, repayable in monthly installments of CAD155 plus interest, maturing in October 2026. The repayment of monthly installments reduces the credit limit over time. CIBC also reserves the right to request full repayment of a portion or all outstanding balances at any time. At December 31, 2024 and 2023, the outstanding principal balance of the loan was $2,368 and $3,971 (or CAD3,405 and CAD5,262), respectively. Wuxi Revolving Line of Credit On September 27, 2024, Wuxi entered into a short-term loan agreement with the Bank of Ningbo Co., Ltd. with an aggregate principal balance of CNY40,000 (or approximately $5,705) bearing interest of 3.50% per annum and maturing on December 27, 2024. This short-term loan was fully paid on December 27, 2024. During the year ended December 31, 2024, the cash and non-cash interest were individually and in the aggregate de minimus. The table below sets forth the components of interest expense for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Interest expense on the 2027 Notes Stated interest at 4.50% per annum $ 7,220 $ 7,200 $ 900 Amortization of discount and issuance cost 1,026 970 116 Total interest expense related to the 2027 Notes 8,246 8,170 1,016 Interest expense on the 2029 Notes Stated interest at 3.50% per annum 524 — — Amortization of discount and issuance cost 109 — — Total interest expense related to the 2029 Notes 633 — — Interest expense on other debt obligations: Contractual interest 342 455 375 Amortization of discount and issuance cost 37 25 301 Total interest expense related to other debt obligations 379 480 676 Total interest expense $ 9,258 $ 8,650 $ 1,692 The future maturities of the debt obligations are as follows: 2025 $ 12,583 2026 2,368 2027 160,000 2028 — 2029 218,500 Total $ 393,451

Warrant Liability

Warrant Liability	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Warrant Liability	Warrant Liability In connection with the June 10, 2021 Transaction, the Company issued 17,250,000 Public Warrants, 8,625,000 Private Placement Warrants and 1,500,000 Working Capital Warrants, which were fully exchanged to Class A common stock on November 9, 2023. On November 9, 2023, the Warrants were remeasured to their fair value of $38,331 and reclassified per ASC 815-40 to Additional Paid in Capital in the consolidated balance sheet. The total change in fair value of a $7,066 net gain since December 31, 2022 was recorded to Other income (expense), net in the consolidated statement of operations. There is no liability remaining on the Company’s consolidated balance sheet as of the years ended December 31, 2024 and 2023.

Contingent and Earn-Out Liabili

Contingent and Earn-Out Liabilities	12 Months Ended
	Dec. 31, 2024
Reverse Capitalization [Abstract]
Contingent and Earn-Out Liabilities	Contingent and Earn-Out Liabilities Earn-Out Milestones In connection with the Transaction, certain of indie’s stockholders are entitled to receive up to 10,000,000 earn-out shares of the Company’s Class A common stock if the earn-out milestones are met. The earn-out milestones represent two independent criteria, each of which entitles the eligible stockholders to 5,000,000 earn-out shares per milestone met. Each earn-out milestone is considered met if at any time following the Transaction and prior to December 31, 2027, the volume weighted average price of indie’s Class A common stock is greater than or equal to $12.50 or $15.00 for any twenty trading days within any thirty-trading day period, respectively. Further, the earn-out milestones are also considered to be met if indie undergoes a Sale. A Sale is defined as the occurrence of any of the following for indie: (i) engage in a “going private” transaction pursuant to Rule 13e-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise cease to be subject to reporting obligations under Sections 13 or 15(d) of the Exchange Act; (ii) Class A common stock ceases to be listed on a national securities exchange, other than for the failure to satisfy minimum listing requirements under applicable stock exchange rules; or (iii) change of ownership (including a merger or consolidation) or approval of a plan for complete liquidation or dissolution. These earn-out shares had been categorized into two components: (i) those associated with stockholders with vested equity at the closing of the Transaction that will be earned upon achievement of the earn-out milestones (the “Vested Shares”) and (ii) those associated with stockholders with unvested equity at the closing of the Transaction that will be earned over the remaining service period with the Company on their unvested equity shares and upon achievement of the Earn-Out Milestones (the “Unvested Shares”). The Vested Shares were classified as liabilities in the consolidated balance sheet and the Unvested Shares are equity-classified share-based compensation to be recognized over time. The earn-out liability was initially measured at fair value at the closing of the Transaction and subsequently remeasured at the end of each reporting period. The change in fair value of the earn-out liability was recorded as part of Other income (expense), net in the consolidated statement of operations. The estimated fair value of the earn-out liability was determined using a Monte Carlo Simulations analysis that simulated the future path of the Company’s stock price over the earn-out period. The assumptions utilized in the calculation are based on the achievement of certain stock price milestones including projected stock price, volatility, and risk-free rate. As of December 31, 2021, there was no liability remaining on the balance sheet. Contingent Considerations On May 13, 2020, in connection with the acquisition of City Semiconductor, Inc. (“City Semi”), the Company recorded contingent consideration as a long-term liability at an initial fair value of $1,180. The contingent consideration is comprised of two tranches. The first tranche is payable, up to a maximum of $500, upon the achievement of cash collection targets within 12 months of the acquisition, and $456 was achieved in May 2021. The second tranche is payable, up to a maximum of $1,500, upon the shipment of a product incorporating the acquired developed technology. In September 2021, the Company paid off the first tranche of the contingent consideration. In April 2023, the Company settled $500 of the $1,500 second tranche through the issuance of 73,311 shares of Class A common stock with a fair value of $608 at the time of issuance. In January 2024, the Company settled $500 of the $1,000 second tranche through the issuance of 62,562 shares of Class A common stock with a fair value of $500 at the time of issuance. The fair value of the remaining $500 second tranche contingent consideration liabilities was $500 as of December 31, 2024. On January 2, 2025, the second tranche of contingent consideration was settled through the issuance of 114,127 shares of Class A common stock with a fair value of $480 at the time of issuance and a cash payment of $34. On January 4, 2022, in connection with the acquisition of Symeo, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $4,390 and $3,446, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $5,000 by March 31, 2023. The second tranche was payable upon Symeo’s achievement of a revenue threshold of $6,000 by March 31, 2024. On October 26, 2023, the Company issued 363,194 of Class A common stock, with a fair value of $1,900 at the time of issuance to Analog Devices, Inc., as final settlement for the achievement of the first tranche of the contingent considerations. The second tranche of contingent consideration liability was fully released during the year ended December 31, 2024 as the earnout milestone was not met. The final change in fair value of $7 is recorded in Other income (expense), net in the consolidated statement of operations for the year ended December 31, 2024. On February 21, 2023, in connection with the acquisition of Silicon Radar, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $4,155 and $5,085, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $5,000 for the 12- month period ending on February 21, 2024. The second tranche is payable upon Silicon Radar’s achievement of a revenue threshold of $7,000 for the 12-month period ending on February 21, 2025. Both tranches are payable in cash or in Class A common stock at indie’s discretion. Should indie elect to pay in Class A common stock, the number of shares issuable equals the earnout amount divided by a VWAP for 20 days ending prior to the due date for payment. In May 2024, the Company settled the first tranche through the issuance of 1,103,140 shares of Class A common stock with a fair value of $6,045 at the time of issuance. The fair value of the second tranche contingent consideration liability as of December 31, 2024 was reduced to zero. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. On March 3, 2023, in connection with the acquisition of GEO, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $38,828 and $20,452, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $20,000 for the 12-month period ended on March 31, 2024. The second tranche was payable upon GEO’s achievement of a revenue threshold of $10,000 for the 6-month period ended on September 30, 2024. Both tranches were payable in cash or Class A common stock, at indie’s election and the number of shares issuable equals the earnout amount divided by the Earnout Parent Trading Price. Payment in cash was determined by the number of shares payable multiplied by the Earnout Parent Trading Price. In May 2024, the Company settled the first tranche through the issuance of 6,096,951 shares of Class A common stock with a fair value of $40,667 at the time of issuance. In December 2024, the Company settled the second tranche through the issuance of 1,015,621 shares of Class A common stock with a fair value of $4,459 at the time of issuance. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. On September 18, 2023, in connection with the acquisition of Exalos, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $7,328 and $2,427, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $19,000 for the 12-month period ended on September 30, 2024. The second tranche is payable upon Exalos’ achievement of a revenue threshold of $21,000 for the 12-month period ending on September 30, 2025. Both tranches are payable in cash or in shares at indie’s discretion. On November 7, 2024, the first tranche of contingent consideration was settled through the issuance of 2,845,243 shares of Class A common stock with a fair value of $9,930 at the time of issuance, and cash payment of $2,536. The fair value of the second tranche contingent consideration liability as of December 31, 2024 was $634. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. See Note 3 — Business Combinations for additional information. Share-Based Compensation 2021 Omnibus Equity Incentive Plan The Company’s Board of Directors adopted the indie Semiconductor, Inc. 2021 Omnibus Equity Incentive Plan (the “2021 Plan”) effective June 10, 2021, which provides for the granting of nonqualified stock options, incentive stock options, restricted stock awards, stock appreciation rights, performance stock awards, unrestricted stock awards, distribution equivalent rights or any combination of the foregoing to employees and directors for a total of 10,368,750 shares. On June 22, 2022, the Company’s Board of Directors and stockholders approved an increase of shares by 10,500,000 to a total of 20,868,750 shares. On both June 21, 2023 and June 13, 2024, the Company’s Board of Directors and stockholders approved an amendment to the 2021 Omnibus Equity Incentive Plan to each increase the number of shares of Class A common stock reserved for issuance thereunder by 7,000,000 shares, to a current approved total of 34,868,750 shares. The primary purpose of the 2021 Plan is to enhance the Company’s ability to attract, motivate and retain the services of qualified employees, officers and directors. The Company accounts for share-based compensation arrangements with employees and non-employees in accordance with ASC 718-10, Compensation — Stock Compensation, which requires the Company to account for the compensation expense related to all equity awards on a fair value based method. Further, the Company treats equity awards with multiple vesting tranches as a single award for expense attribution purposes and recognize compensation expense on a straight-line basis over the required service vesting period of the entire award. As of December 31, 2024, there were 4,851,844 award units available for future grant under the 2021 Plan. Employee Equity Purchase Program Effective July 1, 2023, certain of the Company’s Board of Directors elected to receive up to 100% of their director and chair cash retainers in the form of a quarterly fully-vested stock award of the Company’s Class A common stock. On August 17, 2023, the Company’s Board of Directors approved the launch of an Employee Equity Purchase Program (the “EEPP”), which allows (i) the Company’s Section 16 officers to make quarterly elections to receive up to 50% of their cash base salary in the form of a quarterly fully-vested stock award of Company’s Class A common stock; and (ii) its non-Section 16 officer employees to make semi-annual elections to receive up to 25% of their cash base salary in the form of a monthly fully-vested stock award of Company’s Class A common stock. As part of the program incentive, the non-Section 16 officer employees receive additional benefits such as a premium via an exchange ratio of 1.15 cash to stock and a conversion price equal to the lower of (x) the first trading day of the plan period or (y) the award vesting date. Any awards issued under the EEPP are granted through the 2021 Plan. Shares granted under EEPP for the Company’s Section 16 officers are liability-classified awards and the fair value of the awards is equal to the deferred salary amount. Shares granted under EEPP for non-Section 16 officers are equity-classified awards and the fair value of the awards is estimated through the Black-Scholes option pricing model. The EEPP commenced its first plan period on August 16, 2023 for the Section 16 officers and on September 1, 2023 for the employees. For the year ended December 31, 2024 and 2023, the Company incurred $19,789 and $4,099 in share-based compensation expense associated with this program, respectively, inclusive of the value of the stock issued in lieu of the cash based salary. 2023 Employment Inducement Incentive Plan On March 22, 2023, the Company’s Board of Directors approved the indie Semiconductor, Inc. 2023 Inducement Incentive Plan (the “2023 Inducement Plan”), which became effective on such date without stockholder approval pursuant to Rule 5635(c)(4) of The Nasdaq Stock Market LLC listing rules (“Rule 5635(c)(4)”). The 2023 Inducement Plan provides for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units and other stock- or performance-based awards. In accordance with Rule 5635(c)(4), awards under the 2023 Inducement Plan may only be made to a newly hired employee who has not previously been a member of indie’s Board of Directors, or an employee who is being rehired following a bona fide period of non-employment by indie as a material inducement to the employee’s entering into employment with the Company. A total of 2,000,000 shares of Class A common stock were reserved for issuance under the 2023 Inducement Plan. On June 21, 2023, the Company’s Board of Directors approved an additional 4,000,000 shares of Class A common stock to be reserved for issuance under the 2023 Inducement Plan, or a total of 6,000,000 shares. To the extent that an award lapses, expires, is cancelled, is terminated, unexercised or ceases to be exercisable for any reason, or the rights of its recipient terminate, any shares subject to such award shall again be available for the grant of a new award under the 2023 Inducement Plan. As of December 31, 2024, there were 3,486,188 Class A common stock shares available for future grant under the 2023 Inducement Plan. For the year ended December 31, 2024 and 2023, the Company incurred $5,787 and $3,730 in share-based compensation expense associated with this program, respectively. Since inception of the 2021 Plan and 2023 Inducement Plan, equity awards granted are primarily all in the form of restrictive stock units (“RSU”). These RSUs primarily have a four-year vesting schedule and vests annually in equal installments. The grant date fair value of RSUs issued per the 2021 Plan and 2023 Inducement Plan was valued based on the value of the Class A common stock on the date of grant. The RSUs are equity classified. Occasionally, the Company may grant equity awards in the forms of options or equity awards with either market condition (“MSU”) or performance conditions (“PSU”) through either plan. Options typically have a four-year vesting schedule in equal annual installments and a ten-year term from the original grant date. The grant date fair value of Options issued was valued based on a Black-Scholes model at the time of the grant. Vesting for both the MSUs and PSUs require the award recipients’ continuous service with the Company and achievement of predetermined milestones. The grant date fair value of PSUs was based on the value of the Class A common stock on the date of grant. The grant date fair value of MSUs was determined using the Monte Carlo Simulations analysis. Historical Profit Interests Historically, per the ADK LLC Operating Agreement, ADK LLC issued Class B units (“Profits Interests” or “Class B units”) to employees, directors and consultants. Class B units entitle the holders of such units to a share of ADK LLC’s profits and distributions of ADK’s assets to the extent their capital accounts are positive. Holders of Class B units do not have voting rights except to the extent required by law. The Board of Directors authorized 14,284,919 shares (or 513,846 units prior to the exchange) for grant under the ADK LLC Operating Agreement. The Class B units generally have a four-year vesting schedule, in which 25% of units vest after 12 months and the remaining 75% vest monthly over the following three-year period. Upon the consummation of the Transaction, the Class B units were converted into Class A common stock at the Exchange Ratio of 27.80. Any unvested shares will continue to vest over time following their original contractual terms. No additional profit interests were granted post the consummation of the Transaction. Phantom Units On January 29, 2021, indie issued Phantom Units that give employees rights to receive, upon vesting, either 1,751,360 shares of Class A common stock (or 62,998 Phantom Units prior to giving effect to the Exchange Ratio) or the equivalent in cash at the election of indie (the “Phantom Units”). These Phantom Units had a grant date fair value of $6.83 per share of Class A common stock. The Phantom Units generally have a four-year vesting schedule, in which 25% of units vest after 12 months and the remaining 75% vest monthly over the following three-year period. Certain awards vest based on specific performance conditions. Notwithstanding the foregoing, no Phantom Units vested until December 10, 2021. These Phantom Units are equity-classified awards that operate substantially the same as an RSU. The grant date fair value of the Phantom Units was determined by dividing the expected equity value of the Company upon the Transaction by the Company’s expected capitalization structure at the time of the grant. No compensation cost was recognized historically until the closing of the Transaction. Unvested Earn-out Shares A portion of the earn-out shares were issued to individuals with unvested equity awards. While the payout of these shares requires achievement of the earn-out milestones, the individuals are required to complete the remaining service period associated with these unvested equity awards to be eligible to receive the earn-out shares. As a result, these unvested earn-out shares are equity-classified awards that operate substantially the same as an RSU. The aggregated grant date fair value of these shares totaled $3,919 (or $9.20 per share). The grant date fair value of the earn-out shares was valued based on the fair value of the earn-out liability at inception divided by total shares subject to the earn-out liability. Stock compensation expense is recorded in cost of goods sold, research and development and general and administrative expenses based on the classification of the work performed by the grantees. The following table sets forth the share-based compensation for the periods presented: Year Ended December 31, 2024 2023 2022 Cost of goods sold $ 985 $ 363 $ 149 Research and development 43,449 25,750 28,325 Selling, general, and administrative 22,375 17,597 13,411 Restructuring costs 431 — — Total $ 67,240 $ 43,710 $ 41,885 Total stock compensation expense for the year ended December 31, 2022 above included an accrual of $6,600, that represents awards issuable upon distribution of the Company’s annual incentive plan. There was no accrual for distribution of the Company’s annual incentive plan for both years ended December 31, 2024 and 2023. The following table sets forth the changes in the Company’s outstanding 2021 Omnibus Equity Incentive Plan non-option awards for the years ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 9,250,357 $ 8.52 Granted 9,932,545 $ 6.12 Vested (4,630,999) $ 8.40 — Forfeited (898,957) $ 8.26 Nonvested shares as of December 31, 2023 13,652,946 13,652,946 $ 6.80 Granted 10,449,306 $ 6.08 Vested (7,565,367) $ 6.76 — Forfeited (1,710,039) $ 7.23 Nonvested shares as of December 31, 2024 14,826,846 $ 7.09 As of December 31, 2024 there was $61,635 of total unrecognized compensation costs related to all nonvested shares, which is expected to be recognized over a weighted-average remaining vesting period of 1.8 years. The following table sets forth the changes in the Company’s outstanding 2023 Inducement Plan non-option awards for the year ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 — $ — Granted 1,840,023 $ 9.04 Vested (97,510) $ 9.53 — Forfeited (128,050) $ 9.53 Nonvested shares as of December 31, 2023 1,614,463 $ 8.97 Granted 1,071,639 $ 6.16 Vested (548,986) $ 8.75 — Forfeited (269,800) $ 9.23 Nonvested shares as of December 31, 2024 1,867,316 $ 7.48 There were no awards outstanding for the year ended December 31, 2022. As of December 31, 2024 there was $10,024 of total unrecognized compensation costs related to all nonvested shares, which is expected to be recognized over a weighted-average remaining vesting period of 2.3 years. The following table sets forth the changes in the Company’s outstanding options in the 2021 Plan for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 368,875 $ 10.74 9.07 $ — Granted — $ — Exercised — $ — Forfeited or expired (50,667) $ 11.69 Outstanding at December 31, 2023 318,208 $ 10.58 8.08 $ — Granted — $ — Exercised — $ — Forfeited or expired (17,743) $ 6.60 Outstanding at December 31, 2024 300,465 $ 10.82 7.06 $ — Exercisable at December 31, 2024 150,225 $ 10.82 7.06 $ — Vested or expected to vest 150,225 $ 10.82 7.06 $ — There were no options granted for both years ended December 31, 2024 or 2023. There were no stock options exercised under the 2021 Plan during the years ended December 31, 2024 and 2023. As of December 31, 2024, the Company had $446 of unrecognized stock-based compensation expense related to stock options. This cost is expected to be recognized over a weighted-average period of 1.0 year. There were no options granted under the 2023 Inducement Plan for both years ended December 31, 2024 and 2023. TeraXion Option Plan On October 12, 2021, the Company assumed fully vested TeraXion options, which became exercisable to purchase 1,542,332 shares of indie Class A common stock with a fair value of $17,249 in connection with the acquisition. The options have a 10-year term from the original grant date. The consummation of the TeraXion acquisition is considered to be a qualifying liquidation event per the original option plan, all of the options became fully vested upon the acquisition date. As such, there is no further stock-based compensation expense to be recognized. The following table sets forth the changes in the Company’s outstanding options for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 1,214,044 $ 0.16 4.88 $ 6,889 Exercised (289,364) $ 0.11 Forfeited or expired — $ — Outstanding at December 31, 2023 924,680 $ 0.17 3.82 $ 7,343 Exercised (297,017) $ 0.18 Forfeited or expired — $ — Outstanding at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Exercisable at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Vested or expected to vest 627,663 $ 0.16 2.81 $ 2,470

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s debt instruments are recorded at their carrying values in its consolidated balance sheets, which may differ from their respective fair values. The estimated fair value of the Company’s 2027 Notes and 2029 Notes are both based on Level 2 inputs as the fair value is based on quoted prices for the Company’s debt (see Note 9 — Debt for additional information). The fair values of the Company’s short- term loans generally approximated their carrying values. At December 31, 2024 and 2023, the Company held currency forward contracts with an aggregated notional amount of $28,160 and $12,325, respectively, to sell United States dollars and to buy various foreign currencies such as Canadian dollars and Euro, among others, at a forward rate. Any changes in the fair value of these contracts are recorded in Other income (expense), net in the consolidated statement of operations. During the year ended December 31, 2024 and 2023, the Company recorded a net loss of $1,649 and $848, respectively. For the year ended December 31, 2022 the net loss was de minimus. The following table presents the Company’s fair value hierarchy for financial assets and liabilities: Fair Value Measurements as of December 31, 2024 Level 1 Level 2 Level 3 Total Liabilities: Kinetic Contingent Consideration — First Tranche $ — $ — $ 2,455 $ 2,455 Kinetic Contingent Consideration — Second Tranche $ — $ — $ 1,908 $ 1,908 Exalos Contingent Consideration — Second Tranche $ — $ — $ 634 $ 634 GEO Indemnity Holdback $ 6,344 $ — $ — $ 6,344 City Semi Contingent Consideration — Second Tranche $ — $ — $ 500 $ 500 Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Exalos Contingent consideration — First Tranche $ — $ — $ 9,593 $ 9,593 Exalos contingent Consideration — Second Tranche $ — $ — $ 4,012 $ 4,012 GEO Contingent Consideration — First Tranche $ — $ — $ 44,709 $ 44,709 GEO Contingent Consideration — Second Tranche $ — $ — $ 25,921 $ 25,921 GEO Indemnity Holdback $ 12,704 $ — $ — $ 12,704 Silicon Radar Contingent Consideration — First Tranche $ — $ — $ 2,740 $ 2,740 Silicon Radar Contingent Consideration — Second Tranche $ — $ — $ 3,310 $ 3,310 City Semi Contingent Consideration — Second Tranche $ — $ — $ 940 $ 940 Symeo Contingent Consideration — Second Tranche $ — $ — $ 7 $ 7 As of December 31, 2024 and 2023, the Company’s cash and cash equivalents (including restricted cash) were all held in cash or Level 1 instruments where the fair values approximate the carrying values. Level 3 Disclosures Contingent Considerations Contingent considerations were valued based on the consideration expected to be transferred. The Company estimated the fair value based on a Monte Carlo Simulations analysis to simulate the probability of achievement of various milestones identified within each contingent consideration arrangement, using certain assumptions that require significant judgement and discount rates. The discount rates were based on the estimated cost of debt plus a premium, which included consideration of expected term of the earn-out payment, yield on treasury instruments and an estimated credit rating for the Company. The following table presents the significant unobservable inputs assumed for each of the fair value measurements: As of December 31, 2024 As of December 31, 2023 Input Input Liabilities: Kinetic Contingent Consideration - First Tranche Market yield rate 7.34 % N/A Scenario probability 100.00 % N/A Kinetic Contingent Consideration - Second Tranche Market yield rate 7.68 % N/A Scenario probability 70.00 % N/A Exalos Contingent Consideration — First Tranche Discount rate N/A 7.46 % Volatility N/A 75.00 % Exalos Contingent Consideration — Second Tranche Discount rate 10.20 % 7.46 % Volatility 60.00 % 70.00 % GEO Contingent Consideration — First Tranche Discount rate N/A 12.60 % Volatility N/A 60.00 % GEO Contingent Consideration — Second Tranche Discount rate N/A 12.60 % Volatility N/A 60.00 % Silicon Radar Contingent Consideration — First Tranche Discount rate N/A 10.79 % Volatility N/A 60.00 % Silicon Radar Contingent Consideration — Second Tranche Discount rate 10.39 % 10.79 % Volatility 60.00 % 60.00 % City Semi Contingent Consideration — Second Tranche Discount rate 12.65 % 12.65 % Symeo Contingent Consideration — Second Tranche Discount Rate N/A 4.73 %

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Wuxi Capital Raise On November 29, 2022, the Company entered into and closed an agreement with multiple investors in China, including two of the top four Chinese automotive OEMs, that secured a strategic investment (“Wuxi Capital Raise”) through Wuxi indie Microelectronics Ltd. (“Wuxi”), indie’s majority controlled subsidiary. The Wuxi Capital Raise provided Wuxi additional funding of CNY300,000 (approximately $42,000) by issuing 371,160 shares from Wuxi, which represents 16% of Wuxi’s equity at the time of issuance. The funds raised are intended to promote Wuxi’s business development and strengthen its capabilities. Pursuant to the terms of the agreement, these investors subscribed for the 371,160 shares at CNY808.28 per share. As a result, indie’s ownership in Wuxi has reduced from 45% to 38% ownership control, with indie having 59% voting control. As indie continues to control Wuxi’s Board of Directors and has the majority of the voting interests, Wuxi’s financial results will continue to be consolidated with those of ADK LLC and its other wholly-owned subsidiaries. Minority interests held in Wuxi are accounted for as non-controlling interests in the Company’s consolidated financial statements. Among other provisions, this agreement includes certain liquidation preferences for the investors (“Deemed Liquidation Event”) as well as an ability to exchange their Wuxi shares for shares of indie’s Class A common stock in the event Wuxi does not successfully complete a local initial public offering (“IPO”) by December 31, 2027 (the “Conversion”). A Deemed Liquidation Event includes but not limited to (a) a change of control of the Company or its surviving entity in a single, or series of related transactions, or merger, division, reorganization, acquisition, or business integration between the Company and any third parties, excluding any corporate restricting as duly approved pursuant to the AOA; or (b) a sale, transfer or otherwise disposal of the all or substantially all assets of the Company, in a single, or series of related transactions. Upon a Deemed Liquidation Event prior to IPO, the distribution will be made in cash in order of the liquidation preferences pursuant to the investment agreement for an amount that is the higher of (i) an amount equal to 100% of the applicable original issue price with an annual simple premium of 8% (calculated from the transaction closing date of November 29, 2022 to the date of the Liquidation Event), or (ii) an amount equal to the total liquidation proceeds received by the Company or the stockholders (as the case may be) directly in a Liquidation Event, multiplied by the stockholder’s proportionate ownership percentage, plus all accrued or declared but unpaid dividends of such share. Wuxi Equity Incentive Plan Paid-In Capital In December 2023, employees in Wuxi exercised stock options granted to them through the Wuxi Equity Incentive Plan (the “Wuxi EIP”) and paid CNY87,959 (or approximately $12,346) in capital contributions to Wuxi. The Wuxi EIP was approved by Wuxi’s Board of Directors and is a long-term incentive plan under which equity awards may be granted to employees of Wuxi in the form of options to purchase Wuxi common shares at a fixed strike price in the future after certain vesting conditions are met and which are then subject to certain holding conditions (“Options”). Options granted under the Wuxi EIP are equity-classified awards and subject to vest either six years from the grant date or when Wuxi achieves a successful IPO on a local stock exchange, whichever that is later. No compensation cost will be recognized until a qualifying event (i.e., IPO) is deemed probable to occur as these Options are considered to have no value until an IPO becomes probable. Upon occurrence of the qualifying event, the compensation cost will be recognized in full for vested Options. As of December 31, 2024 and 2023, there was $11,802 of total unrecognized compensation cost related to these Options. These unrecognized compensation costs will be recognized in full when a qualifying event satisfying the in-substance performance condition becomes probable. Further, per the Wuxi EIP, recipients of the Options should complete all capital contributions and payment of the incentive share price (the “Paid in Capital Contribution”) after Wuxi and the intermediary agencies (including securities companies, law firms, and accounting firms) that apply for IPO have reached an IPO application schedule and before the last financial benchmark date of Wuxi’s IPO application. The Paid in Capital Contribution is akin to an early exercise. Given that Wuxi has no obligation to return the paid-in capital contribution to the recipient of the award in any event (i.e., an unsuccessful IPO, termination of employment), the Company concludes that the Paid in Capital Contribution made by the recipient is classified into Additional paid-in capital on the consolidated balance sheet as of December 31, 2024 and 2023. The funds are being used for Wuxi’s general corporate purposes. Stock Repurchase Program On November 16, 2022, indie’s Board of Directors authorized the repurchase, from time to time, of up to $50,000 of indie’s Class A common stock and/or warrants to purchase Class A common stock. This was inclusive of the concurrent repurchase of shares of Class A common stock described in Note 9 — Debt , under the 2027 Notes, which allowed for a portion of net proceeds to be used to repurchase up to $25,000 of Class A common stock. For the year ended December 31, 2022, in connection with the concurrent repurchase, the Company has repurchased 1,112,524 shares of Class A common stock, at an average cost of $6.65 per share, for approximately $7,404. There were no repurchases of common stock for the year ended December 31, 2024 or 2023, respectively. As of December 31, 2024, there is $42,596 available for future repurchase under the program.

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest In connection with the closing of the Transaction on June 10, 2021, certain members of ADK LLC (the “ADK Minority Holders”) retained approximately 26% membership interest in ADK LLC. The ADK Minority Holders may from time to time, after December 10, 2021, exchange with indie, such holders’ units in ADK LLC for an equal number of shares of indie’s Class A common stock. As a result, indie’s ownership interest in ADK LLC will increase. The ADK Minority Holders’ ownership interests are accounted for as noncontrolling interests in the Company’s consolidated financial statements. The Company’s ownership of ADK LLC was approximately 91% and 90% as of December 31, 2024 and 2023, respectively. In connection with the Transaction, the Company issued to ADK LLC Minority Holders an aggregate of 33,827,371 shares of Class V common stock of indie (the “Class V Holders”), which can be exchanged to Class A common stock at an exchange ratio of one to one . The shares of Class V common stock provides no economic rights in indie to the holder thereof; however, each Class V Holder is entitled to vote with the holders of Class A common stock of indie, with each share of Class V common stock entitling the holder to one (1) vote per share of Class V common stock at the time of such vote (subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications). As of December 31, 2024 and 2023, the Company had an aggregate of 17,671,251 and 18,694,332 shares of Class V common stock issued and outstanding, respectively.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by geographic region, as the Company’s management believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The following tables present revenue disaggregated by geography of the shipping location for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 United States $ 38,197 $ 53,558 $ 39,915 Greater China 98,307 101,323 43,969 Europe 37,337 36,042 16,713 South Korea 15,211 18,768 3,728 Rest of North America 4,438 8,475 4,788 Rest of Asia Pacific 21,245 2,949 204 South America 1,947 2,054 1,480 Total $ 216,682 $ 223,169 $ 110,797 Contract Balances Certain assets or liabilities are recorded depending on the timing of revenue recognition, billings and cash collections on a contract-by-contract basis. Contract liabilities primarily relate to deferred revenue, including advance consideration received from customers for contracts prior to the transfer of control to the customer, and therefore revenue is recognized upon delivery of products and services or as the services are performed. The following table presents the assets and liabilities associated with the engineering services contracts recorded on the consolidated balance sheet as of December 31, 2024 and 2023: December 31, Balance Sheet Classification 2024 2023 Unbilled revenue Prepaid expenses and other current assets $ 9,154 $ 8,506 Contract liabilities Accrued expenses and other current liabilities $ 2,735 $ 2,473 During the year ended December 31, 2024, 2023 and 2022, the Company recognized $1,708, $1,734, and $1,253, respectively, of revenue related to amounts that were previously included in deferred revenue at the beginning of the period. Deferred revenue fluctuates over time due to changes in the timing of payments received from customers and revenue recognized for services provided. Revenue related to remaining performance obligations represents the amount of contracted development arrangements that has not been recognized, which includes deferred revenue on the consolidated balance sheet and unbilled amounts that will be recognized as revenue in future periods. As of December 31, 2024, the amount of performance obligations that have not been recognized as revenue was $4,189, of which approximately 99% is expected to be recognized as revenue over the next 12 months and the remainder thereafter. This amount excludes the value of remaining performance obligations for contracts with an original expected length of one year or less. Variable consideration that has been constrained is excluded from the amount of performance obligations that have not been recognized. Concentrations As identified below, one of our customers accounted for more than 10% of the Company’s total revenue for the years ended December 31, 2023 and 2022. No individual customer accounted for more than 10% of the Company’s total revenue for the year ended December 31, 2024: December 31, 2024 2023 2022 Customer A 9.3 % 14.8 % 36.9 % The loss of this customer would have a material impact on the Company’s consolidated financial results. One large customer each represented 11% and 19% of accounts receivable as of December 31, 2024 and 2023, respectively. No other individual customer represented more than 10% of accounts receivable at December 31, 2024 or 2023, respectively.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Contingent and Earn-Out Liabilities Earn-Out Milestones In connection with the Transaction, certain of indie’s stockholders are entitled to receive up to 10,000,000 earn-out shares of the Company’s Class A common stock if the earn-out milestones are met. The earn-out milestones represent two independent criteria, each of which entitles the eligible stockholders to 5,000,000 earn-out shares per milestone met. Each earn-out milestone is considered met if at any time following the Transaction and prior to December 31, 2027, the volume weighted average price of indie’s Class A common stock is greater than or equal to $12.50 or $15.00 for any twenty trading days within any thirty-trading day period, respectively. Further, the earn-out milestones are also considered to be met if indie undergoes a Sale. A Sale is defined as the occurrence of any of the following for indie: (i) engage in a “going private” transaction pursuant to Rule 13e-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise cease to be subject to reporting obligations under Sections 13 or 15(d) of the Exchange Act; (ii) Class A common stock ceases to be listed on a national securities exchange, other than for the failure to satisfy minimum listing requirements under applicable stock exchange rules; or (iii) change of ownership (including a merger or consolidation) or approval of a plan for complete liquidation or dissolution. These earn-out shares had been categorized into two components: (i) those associated with stockholders with vested equity at the closing of the Transaction that will be earned upon achievement of the earn-out milestones (the “Vested Shares”) and (ii) those associated with stockholders with unvested equity at the closing of the Transaction that will be earned over the remaining service period with the Company on their unvested equity shares and upon achievement of the Earn-Out Milestones (the “Unvested Shares”). The Vested Shares were classified as liabilities in the consolidated balance sheet and the Unvested Shares are equity-classified share-based compensation to be recognized over time. The earn-out liability was initially measured at fair value at the closing of the Transaction and subsequently remeasured at the end of each reporting period. The change in fair value of the earn-out liability was recorded as part of Other income (expense), net in the consolidated statement of operations. The estimated fair value of the earn-out liability was determined using a Monte Carlo Simulations analysis that simulated the future path of the Company’s stock price over the earn-out period. The assumptions utilized in the calculation are based on the achievement of certain stock price milestones including projected stock price, volatility, and risk-free rate. As of December 31, 2021, there was no liability remaining on the balance sheet. Contingent Considerations On May 13, 2020, in connection with the acquisition of City Semiconductor, Inc. (“City Semi”), the Company recorded contingent consideration as a long-term liability at an initial fair value of $1,180. The contingent consideration is comprised of two tranches. The first tranche is payable, up to a maximum of $500, upon the achievement of cash collection targets within 12 months of the acquisition, and $456 was achieved in May 2021. The second tranche is payable, up to a maximum of $1,500, upon the shipment of a product incorporating the acquired developed technology. In September 2021, the Company paid off the first tranche of the contingent consideration. In April 2023, the Company settled $500 of the $1,500 second tranche through the issuance of 73,311 shares of Class A common stock with a fair value of $608 at the time of issuance. In January 2024, the Company settled $500 of the $1,000 second tranche through the issuance of 62,562 shares of Class A common stock with a fair value of $500 at the time of issuance. The fair value of the remaining $500 second tranche contingent consideration liabilities was $500 as of December 31, 2024. On January 2, 2025, the second tranche of contingent consideration was settled through the issuance of 114,127 shares of Class A common stock with a fair value of $480 at the time of issuance and a cash payment of $34. On January 4, 2022, in connection with the acquisition of Symeo, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $4,390 and $3,446, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $5,000 by March 31, 2023. The second tranche was payable upon Symeo’s achievement of a revenue threshold of $6,000 by March 31, 2024. On October 26, 2023, the Company issued 363,194 of Class A common stock, with a fair value of $1,900 at the time of issuance to Analog Devices, Inc., as final settlement for the achievement of the first tranche of the contingent considerations. The second tranche of contingent consideration liability was fully released during the year ended December 31, 2024 as the earnout milestone was not met. The final change in fair value of $7 is recorded in Other income (expense), net in the consolidated statement of operations for the year ended December 31, 2024. On February 21, 2023, in connection with the acquisition of Silicon Radar, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $4,155 and $5,085, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $5,000 for the 12- month period ending on February 21, 2024. The second tranche is payable upon Silicon Radar’s achievement of a revenue threshold of $7,000 for the 12-month period ending on February 21, 2025. Both tranches are payable in cash or in Class A common stock at indie’s discretion. Should indie elect to pay in Class A common stock, the number of shares issuable equals the earnout amount divided by a VWAP for 20 days ending prior to the due date for payment. In May 2024, the Company settled the first tranche through the issuance of 1,103,140 shares of Class A common stock with a fair value of $6,045 at the time of issuance. The fair value of the second tranche contingent consideration liability as of December 31, 2024 was reduced to zero. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. On March 3, 2023, in connection with the acquisition of GEO, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $38,828 and $20,452, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $20,000 for the 12-month period ended on March 31, 2024. The second tranche was payable upon GEO’s achievement of a revenue threshold of $10,000 for the 6-month period ended on September 30, 2024. Both tranches were payable in cash or Class A common stock, at indie’s election and the number of shares issuable equals the earnout amount divided by the Earnout Parent Trading Price. Payment in cash was determined by the number of shares payable multiplied by the Earnout Parent Trading Price. In May 2024, the Company settled the first tranche through the issuance of 6,096,951 shares of Class A common stock with a fair value of $40,667 at the time of issuance. In December 2024, the Company settled the second tranche through the issuance of 1,015,621 shares of Class A common stock with a fair value of $4,459 at the time of issuance. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. On September 18, 2023, in connection with the acquisition of Exalos, the Company recorded contingent considerations as a current and a long-term liability at an initial fair value of $7,328 and $2,427, respectively. The contingent consideration is comprised of two tranches. The first tranche was payable upon the achievement of a revenue threshold of $19,000 for the 12-month period ended on September 30, 2024. The second tranche is payable upon Exalos’ achievement of a revenue threshold of $21,000 for the 12-month period ending on September 30, 2025. Both tranches are payable in cash or in shares at indie’s discretion. On November 7, 2024, the first tranche of contingent consideration was settled through the issuance of 2,845,243 shares of Class A common stock with a fair value of $9,930 at the time of issuance, and cash payment of $2,536. The fair value of the second tranche contingent consideration liability as of December 31, 2024 was $634. The change in fair value since the acquisition date is recorded in Other income (expense), net in the consolidated statement of operations. See Note 3 — Business Combinations for additional information. Share-Based Compensation 2021 Omnibus Equity Incentive Plan The Company’s Board of Directors adopted the indie Semiconductor, Inc. 2021 Omnibus Equity Incentive Plan (the “2021 Plan”) effective June 10, 2021, which provides for the granting of nonqualified stock options, incentive stock options, restricted stock awards, stock appreciation rights, performance stock awards, unrestricted stock awards, distribution equivalent rights or any combination of the foregoing to employees and directors for a total of 10,368,750 shares. On June 22, 2022, the Company’s Board of Directors and stockholders approved an increase of shares by 10,500,000 to a total of 20,868,750 shares. On both June 21, 2023 and June 13, 2024, the Company’s Board of Directors and stockholders approved an amendment to the 2021 Omnibus Equity Incentive Plan to each increase the number of shares of Class A common stock reserved for issuance thereunder by 7,000,000 shares, to a current approved total of 34,868,750 shares. The primary purpose of the 2021 Plan is to enhance the Company’s ability to attract, motivate and retain the services of qualified employees, officers and directors. The Company accounts for share-based compensation arrangements with employees and non-employees in accordance with ASC 718-10, Compensation — Stock Compensation, which requires the Company to account for the compensation expense related to all equity awards on a fair value based method. Further, the Company treats equity awards with multiple vesting tranches as a single award for expense attribution purposes and recognize compensation expense on a straight-line basis over the required service vesting period of the entire award. As of December 31, 2024, there were 4,851,844 award units available for future grant under the 2021 Plan. Employee Equity Purchase Program Effective July 1, 2023, certain of the Company’s Board of Directors elected to receive up to 100% of their director and chair cash retainers in the form of a quarterly fully-vested stock award of the Company’s Class A common stock. On August 17, 2023, the Company’s Board of Directors approved the launch of an Employee Equity Purchase Program (the “EEPP”), which allows (i) the Company’s Section 16 officers to make quarterly elections to receive up to 50% of their cash base salary in the form of a quarterly fully-vested stock award of Company’s Class A common stock; and (ii) its non-Section 16 officer employees to make semi-annual elections to receive up to 25% of their cash base salary in the form of a monthly fully-vested stock award of Company’s Class A common stock. As part of the program incentive, the non-Section 16 officer employees receive additional benefits such as a premium via an exchange ratio of 1.15 cash to stock and a conversion price equal to the lower of (x) the first trading day of the plan period or (y) the award vesting date. Any awards issued under the EEPP are granted through the 2021 Plan. Shares granted under EEPP for the Company’s Section 16 officers are liability-classified awards and the fair value of the awards is equal to the deferred salary amount. Shares granted under EEPP for non-Section 16 officers are equity-classified awards and the fair value of the awards is estimated through the Black-Scholes option pricing model. The EEPP commenced its first plan period on August 16, 2023 for the Section 16 officers and on September 1, 2023 for the employees. For the year ended December 31, 2024 and 2023, the Company incurred $19,789 and $4,099 in share-based compensation expense associated with this program, respectively, inclusive of the value of the stock issued in lieu of the cash based salary. 2023 Employment Inducement Incentive Plan On March 22, 2023, the Company’s Board of Directors approved the indie Semiconductor, Inc. 2023 Inducement Incentive Plan (the “2023 Inducement Plan”), which became effective on such date without stockholder approval pursuant to Rule 5635(c)(4) of The Nasdaq Stock Market LLC listing rules (“Rule 5635(c)(4)”). The 2023 Inducement Plan provides for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units and other stock- or performance-based awards. In accordance with Rule 5635(c)(4), awards under the 2023 Inducement Plan may only be made to a newly hired employee who has not previously been a member of indie’s Board of Directors, or an employee who is being rehired following a bona fide period of non-employment by indie as a material inducement to the employee’s entering into employment with the Company. A total of 2,000,000 shares of Class A common stock were reserved for issuance under the 2023 Inducement Plan. On June 21, 2023, the Company’s Board of Directors approved an additional 4,000,000 shares of Class A common stock to be reserved for issuance under the 2023 Inducement Plan, or a total of 6,000,000 shares. To the extent that an award lapses, expires, is cancelled, is terminated, unexercised or ceases to be exercisable for any reason, or the rights of its recipient terminate, any shares subject to such award shall again be available for the grant of a new award under the 2023 Inducement Plan. As of December 31, 2024, there were 3,486,188 Class A common stock shares available for future grant under the 2023 Inducement Plan. For the year ended December 31, 2024 and 2023, the Company incurred $5,787 and $3,730 in share-based compensation expense associated with this program, respectively. Since inception of the 2021 Plan and 2023 Inducement Plan, equity awards granted are primarily all in the form of restrictive stock units (“RSU”). These RSUs primarily have a four-year vesting schedule and vests annually in equal installments. The grant date fair value of RSUs issued per the 2021 Plan and 2023 Inducement Plan was valued based on the value of the Class A common stock on the date of grant. The RSUs are equity classified. Occasionally, the Company may grant equity awards in the forms of options or equity awards with either market condition (“MSU”) or performance conditions (“PSU”) through either plan. Options typically have a four-year vesting schedule in equal annual installments and a ten-year term from the original grant date. The grant date fair value of Options issued was valued based on a Black-Scholes model at the time of the grant. Vesting for both the MSUs and PSUs require the award recipients’ continuous service with the Company and achievement of predetermined milestones. The grant date fair value of PSUs was based on the value of the Class A common stock on the date of grant. The grant date fair value of MSUs was determined using the Monte Carlo Simulations analysis. Historical Profit Interests Historically, per the ADK LLC Operating Agreement, ADK LLC issued Class B units (“Profits Interests” or “Class B units”) to employees, directors and consultants. Class B units entitle the holders of such units to a share of ADK LLC’s profits and distributions of ADK’s assets to the extent their capital accounts are positive. Holders of Class B units do not have voting rights except to the extent required by law. The Board of Directors authorized 14,284,919 shares (or 513,846 units prior to the exchange) for grant under the ADK LLC Operating Agreement. The Class B units generally have a four-year vesting schedule, in which 25% of units vest after 12 months and the remaining 75% vest monthly over the following three-year period. Upon the consummation of the Transaction, the Class B units were converted into Class A common stock at the Exchange Ratio of 27.80. Any unvested shares will continue to vest over time following their original contractual terms. No additional profit interests were granted post the consummation of the Transaction. Phantom Units On January 29, 2021, indie issued Phantom Units that give employees rights to receive, upon vesting, either 1,751,360 shares of Class A common stock (or 62,998 Phantom Units prior to giving effect to the Exchange Ratio) or the equivalent in cash at the election of indie (the “Phantom Units”). These Phantom Units had a grant date fair value of $6.83 per share of Class A common stock. The Phantom Units generally have a four-year vesting schedule, in which 25% of units vest after 12 months and the remaining 75% vest monthly over the following three-year period. Certain awards vest based on specific performance conditions. Notwithstanding the foregoing, no Phantom Units vested until December 10, 2021. These Phantom Units are equity-classified awards that operate substantially the same as an RSU. The grant date fair value of the Phantom Units was determined by dividing the expected equity value of the Company upon the Transaction by the Company’s expected capitalization structure at the time of the grant. No compensation cost was recognized historically until the closing of the Transaction. Unvested Earn-out Shares A portion of the earn-out shares were issued to individuals with unvested equity awards. While the payout of these shares requires achievement of the earn-out milestones, the individuals are required to complete the remaining service period associated with these unvested equity awards to be eligible to receive the earn-out shares. As a result, these unvested earn-out shares are equity-classified awards that operate substantially the same as an RSU. The aggregated grant date fair value of these shares totaled $3,919 (or $9.20 per share). The grant date fair value of the earn-out shares was valued based on the fair value of the earn-out liability at inception divided by total shares subject to the earn-out liability. Stock compensation expense is recorded in cost of goods sold, research and development and general and administrative expenses based on the classification of the work performed by the grantees. The following table sets forth the share-based compensation for the periods presented: Year Ended December 31, 2024 2023 2022 Cost of goods sold $ 985 $ 363 $ 149 Research and development 43,449 25,750 28,325 Selling, general, and administrative 22,375 17,597 13,411 Restructuring costs 431 — — Total $ 67,240 $ 43,710 $ 41,885 Total stock compensation expense for the year ended December 31, 2022 above included an accrual of $6,600, that represents awards issuable upon distribution of the Company’s annual incentive plan. There was no accrual for distribution of the Company’s annual incentive plan for both years ended December 31, 2024 and 2023. The following table sets forth the changes in the Company’s outstanding 2021 Omnibus Equity Incentive Plan non-option awards for the years ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 9,250,357 $ 8.52 Granted 9,932,545 $ 6.12 Vested (4,630,999) $ 8.40 — Forfeited (898,957) $ 8.26 Nonvested shares as of December 31, 2023 13,652,946 13,652,946 $ 6.80 Granted 10,449,306 $ 6.08 Vested (7,565,367) $ 6.76 — Forfeited (1,710,039) $ 7.23 Nonvested shares as of December 31, 2024 14,826,846 $ 7.09 As of December 31, 2024 there was $61,635 of total unrecognized compensation costs related to all nonvested shares, which is expected to be recognized over a weighted-average remaining vesting period of 1.8 years. The following table sets forth the changes in the Company’s outstanding 2023 Inducement Plan non-option awards for the year ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 — $ — Granted 1,840,023 $ 9.04 Vested (97,510) $ 9.53 — Forfeited (128,050) $ 9.53 Nonvested shares as of December 31, 2023 1,614,463 $ 8.97 Granted 1,071,639 $ 6.16 Vested (548,986) $ 8.75 — Forfeited (269,800) $ 9.23 Nonvested shares as of December 31, 2024 1,867,316 $ 7.48 There were no awards outstanding for the year ended December 31, 2022. As of December 31, 2024 there was $10,024 of total unrecognized compensation costs related to all nonvested shares, which is expected to be recognized over a weighted-average remaining vesting period of 2.3 years. The following table sets forth the changes in the Company’s outstanding options in the 2021 Plan for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 368,875 $ 10.74 9.07 $ — Granted — $ — Exercised — $ — Forfeited or expired (50,667) $ 11.69 Outstanding at December 31, 2023 318,208 $ 10.58 8.08 $ — Granted — $ — Exercised — $ — Forfeited or expired (17,743) $ 6.60 Outstanding at December 31, 2024 300,465 $ 10.82 7.06 $ — Exercisable at December 31, 2024 150,225 $ 10.82 7.06 $ — Vested or expected to vest 150,225 $ 10.82 7.06 $ — There were no options granted for both years ended December 31, 2024 or 2023. There were no stock options exercised under the 2021 Plan during the years ended December 31, 2024 and 2023. As of December 31, 2024, the Company had $446 of unrecognized stock-based compensation expense related to stock options. This cost is expected to be recognized over a weighted-average period of 1.0 year. There were no options granted under the 2023 Inducement Plan for both years ended December 31, 2024 and 2023. TeraXion Option Plan On October 12, 2021, the Company assumed fully vested TeraXion options, which became exercisable to purchase 1,542,332 shares of indie Class A common stock with a fair value of $17,249 in connection with the acquisition. The options have a 10-year term from the original grant date. The consummation of the TeraXion acquisition is considered to be a qualifying liquidation event per the original option plan, all of the options became fully vested upon the acquisition date. As such, there is no further stock-based compensation expense to be recognized. The following table sets forth the changes in the Company’s outstanding options for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 1,214,044 $ 0.16 4.88 $ 6,889 Exercised (289,364) $ 0.11 Forfeited or expired — $ — Outstanding at December 31, 2023 924,680 $ 0.17 3.82 $ 7,343 Exercised (297,017) $ 0.18 Forfeited or expired — $ — Outstanding at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Exercisable at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Vested or expected to vest 627,663 $ 0.16 2.81 $ 2,470

Net Loss per Common Share

Net Loss per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Loss per Common Share	Net Loss per Common Share Basic and diluted net loss per common share was calculated as follows: Year Ended December 31, 2024 2023 2022 Numerator: Net loss $ (144,187) $ (128,832) $ (52,788) Less: Net loss attributable to noncontrolling interest (11,584) (11,207) (9,388) Net loss attributable to common stockholders — basic $ (132,603) $ (117,625) $ (43,400) Net loss attributable to common shares — dilutive $ (132,603) $ (117,625) $ (43,400) Denominator: Weighted average shares outstanding—basic 175,029,650 145,188,867 118,660,785 Weighted average common shares outstanding—diluted 175,029,650 145,188,867 118,660,785 Net loss per share attributable to common shares— basic $ (0.76) $ (0.81) $ (0.37) Net loss per share attributable to common shares— diluted $ (0.76) $ (0.81) $ (0.37) The Company’s potentially dilutive securities, which include unvested Class B units, unvested phantom units, unvested restricted stock units, convertible Class V common shares, Public Warrants, Private Warrants, unexercised options, earn-out shares, escrow shares, and convertible debt have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. The 2029 Notes Capped Call Transactions were excluded from the calculation of dilutive potential common shares as their effect is anti-dilutive. For the years ended December 31, 2024, 2023 and 2022, the weighted average number of shares outstanding used to calculate both basic and diluted net loss per share attributable to common shares is the same because the Company reported a net loss for each of these periods and the effect of inclusion would be antidilutive. The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to stockholders for the periods indicated as their inclusion would have had an antidilutive effect: Year Ended December 31, 2024 2023 2022 Unvested Class B units — 61,683 746,294 Unvested Phantom units — 290,138 647,028 Unvested Restricted stock units 16,694,162 14,915,588 7,857,035 Convertible Class V common shares 17,671,251 18,694,332 21,381,476 Public warrants for the purchase of Class A common stock — — 17,250,000 Private warrants for the purchase of Class A common stock — — 10,150,000 Unexercised options 150,240 223,753 349,006 Earn-out Shares 5,000,000 5,000,000 5,000,000 Escrow Shares 1,725,000 1,725,000 1,725,000 2027 convertible notes into Class A common stock 18,497,110 18,497,110 18,497,110 2029 convertible notes into Class A common stock 42,524,208 — — 102,261,971 59,407,604 83,602,949

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of loss before income taxes for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 United States $ (144,808) $ (140,371) $ (49,948) Foreign (1,301) 7,005 (3,875) Total $ (146,109) $ (133,366) $ (53,823) The components of the provision for income taxes for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Current expense: Federal $ 41 $ 96 $ — State 69 23 224 Foreign 1,886 766 818 Total current expense: $ 1,996 $ 885 $ 1,042 Deferred expense: Federal $ (4) $ (2,000) $ — State (5) (5) — Foreign (3,909) (3,414) (2,077) Total deferred benefit: $ (3,918) $ (5,419) $ (2,077) Total income tax benefit $ (1,922) $ (4,534) $ (1,035) The components of deferred tax assets (liabilities) as of December 31, 2024 and 2023 are as follows: December 31, 2024 2023 Investment in Ay Dee Kay, LLC 58,005 44,922 Net operating loss (“NOL”) carryforwards 68,102 57,289 Tax credits 6,789 5,374 Other deferred tax assets $ 9,696 $ 6,015 Total deferred tax assets before valuation allowance 142,592 113,600 Valuation allowance (137,444) (109,701) Deferred tax assets – net of valuation allowance 5,148 3,899 Other deferred tax liabilities $ (1,149) $ (1,214) Intangibles (15,659) (16,381) Total deferred tax liabilities (16,808) (17,595) Net deferred tax liabilities $ (11,660) $ (13,696) Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024 and 2023, are as follows: 2024 2023 Valuation Allowance as on January 1 st $ 109,701 $ 70,040 Increases recorded to tax provision 27,743 15,244 Increases recorded to goodwill — 26,040 Decreases recorded as a benefit to income tax provision — (1,623) Valuation Allowance as on December 31 st $ 137,444 $ 109,701 As of December 31, 2024, the Company has $67,268 of deferred tax assets in domestic NOLs, which was primarily related to U.S. Federal NOLs of $299,504. The U.S. Federal NOLs are comprised of NOLs with an indefinite carry-forward pursuant to the Tax Cuts and Jobs Act of 2017, and NOLs that will begin to expire if not utilized by 2029. The Company also recorded $9,080 of California NOLs, which have a carry-forward period of 20 years, and will begin to expire if not utilized by 2041. The Company also has $1,186 of NOLs in China which have a 5-year carry-forward period and $6,234 of NOLs in Germany which have an indefinite carryforward period and are subject to annual change-of-control utilization limitations, $1,363 federal NOLs in Canada which have a 20-year carry-forward period, and $3,001 NOLs in Canadian provinces which also have a 20-year carry-forward period. In evaluating its ability to realize its net deferred tax assets, the Company considered all available positive and negative evidence, such as past operating results, forecasted earnings, prudent and feasible tax planning strategies, and the future realization of the tax benefits of existing temporary differences in accordance with the relevant accounting guidance under ASC 740. Based on forecasted earnings, the Company does not reasonably anticipate future taxable income in the U.S. jurisdiction. Further, when considering its history of generating net operating losses, management concluded that it is more likely than not that the Company’s domestic deferred assets will not be realized and continues to maintain a full valuation allowance for U.S. domestic deferred tax assets as of December 31, 2024. The Company evaluated its historical valuation allowance on China operations conducted through Wuxi and its subsidiaries as of December 31, 2024. Due to the financial results achieved by China operations in 2023 and the forecasted future taxable income, the Company has released the valuation allowance on Wuxi and its subsidiaries. This resulted in a $1,623 deferred tax benefit for the year ended December 31, 2023. In other jurisdictions, the Company has a net deferred tax liability position and anticipates using the existing deferred tax liability as a source of income to realize existing deferred tax assets. A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Balance at January 1st $ 696 $ — $ — Additions for purchase accounting — 696 — Balance at December 31st $ 696 $ 696 $ — The Company does not provide for foreign income and withholding, U.S. Federal, or state income taxes expense or tax benefits for the difference between the financial reporting basis over the tax basis of its investments in foreign subsidiaries to the extent such amounts are indefinitely reinvested to support operations and continued growth plans outside the U.S. The Company reviews its indefinite reinvestment assertion on a quarterly basis and evaluates its plans for reinvestment. This includes a review of the Company’s ability to control repatriation, its ability to mobilize funds without triggering basis differences, and the profitability of U.S. operations, their cash requirements and the need, if any, to repatriate funds. If the Company’s intent and ability with respect to reinvestment of earnings of non-U.S. subsidiaries changes, deferred U.S. income taxes, foreign income taxes, and foreign withholding taxes may have to be accrued. For the year ended December 31, 2024, the Company intends to indefinitely reinvest earnings and profits, and has not recorded a deferred tax liability. The Company files a federal income tax return and various state income tax returns in the United States. However, ADK LLC will continue to file a partnership return as it has historically and ADK LLC tax returns for years 2012-2023 remain open to examination by the IRS, and tax years 2019-2023 remain open to California State Tax examination. A reconciliation of the federal statutory income tax rate to the effective tax rate for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Income tax provision at U.S. statutory federal rate $ (30,683) $ (27,721) $ (11,286) State income tax provision, net of federal income tax effect 389 (1,216) (5) Foreign rate differential (1,571) (2,445) (250) Noncontrolling interest 2,965 4,858 1,844 Change in valuation allowance 24,358 19,511 6,728 Section 162(m) addback on executive compensation — 565 542 GILTI inclusion, net 4,102 2,881 1,301 Other (1,482) (967) 91 Provision for income taxes $ (1,922) $ (4,534) $ (1,035) The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations for the jurisdictions in which it operates or does business in. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. The Company records tax positions as liabilities and adjusts these liabilities when its judgement changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the recognized tax benefit liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. As of December 31, 2024, the Company has not recorded any uncertain tax positions in its financial statements. The Company records interest and penalties related to unrecognized tax benefits in provision of income taxes. As of December 31, 2024, no accrued interest or penalties are recorded in the consolidated balance sheets, and the Company has not recorded any related expenses. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates and is subject to examinations by the various jurisdictions where applicable. There are currently no pending material tax examinations. The Company’s tax years are still open under statute from 2020 to 2023 for Federal purposes and from 2019 to 2023 for California. Foreign tax statutes are generally three to five years. The company’s significant foreign taxing jurisdiction are Canada, Germany, and China. The Company is also party to a Tax Receivable Agreement (“TRA”). Following the Transaction, ADK LLC unitholders’ exchange of ADK LLC units for indie Class A Common stock are expected to result in increases in the Company’s tax basis in its interest in ADK LLC. These increases in tax basis are expected to increase (for tax purposes) depreciation and amortization deductions allocable to the Company, and therefore reduce the amount of tax that the Company would otherwise be required to pay in the future. As a result, the Company has entered into a TRA with certain members of ADK LLC prior to the Transaction. Under the TRA, the Company will be obligated to pay such parties or their permitted assignees 85% of the amount of cash tax savings, if any, in U.S. federal, state, and local taxes that the Company realizes, or is deemed to realize as a result of future tax benefits from increases in tax basis. The TRA liability is accounted for as a contingent liability within accounts payable, accrued expenses and other liabilities on the consolidated balance sheets with amounts accrued when deemed probable and estimable.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company’s lease arrangements consist primarily of corporate and manufacturing facility agreements. The leases expire at various dates through 2033, some of which include options to extend the lease term. The options with the longest potential total lease term consist of options for extension of up to five years following expiration of the original lease term. All of the leases are operating leases. The Company is headquartered in Aliso Viejo, California and has various research and design centers, sales support offices, and manufacturing facilities throughout the world. The key lease terms for the principal locations are summarized below: The Company holds a six-year operating lease for its 18,000 square foot headquarters in Aliso Viejo, California, which is payable monthly with periodic rent adjustments over the lease term. The lease requires a security deposit of $30, which is recorded in other assets on the Company’s consolidated balance sheets. In November 2022 This lease was extended through the end of October 2028. Rent expense is approximately $42 per month. In October 2021, the Company entered into a five-year operating lease for its design center in Austin, Texas. Rent for the associated office is payable monthly with periodic rent adjustments over the lease term, which expires in June 2027. Rent expense is approximately $14 per month. In May 2021, the Company entered into a seven-year operating lease for a location in Detroit, Michigan, which is payable monthly with periodic rent adjustments over the lease term. The lease will expire in 2028 with an initial monthly rent of approximately $24 per month. In April 2023, the Company entered into a one-year operating lease for an office in San Jose, California in connection with the acquisition of GEO. Rent for the associated office is payable monthly over the lease term, which expires in June 2024. This lease was extended through September 1, 2024 and subsequently terminated. Rent expense was approximately $69 per month. In March 2024, the Company entered into a six-year operating lease for an office in San Jose, California. Rent for the associated office is payable monthly over the lease term, which expires in April 2030. The lease requires a security deposit of $210. Rent expense is approximately $91 per month. The Company holds a five-year operating lease for its Scotland Design Center in Edinburgh, Scotland, which is payable monthly with periodic rent adjustments over the lease term. In April 2024 this lease was extended through the end of June 2029. Rent expense is approximately $17 per month. The Company holds an operating lease for its location in Haifa, Israel. In February 2024 this lease was renewed for three-years through the end of January 2027. Rent expense is approximately $14 per month. In August 2023, the Company entered into a ten-year operating lease for an office in Ontario, Canada in connection with the acquisition of GEO. Rent for the associated office is payable monthly with periodic rent adjustments over the lease term, which expires in February 2033. Rent expense is approximately $11 per month. In October 2021, the Company acquired TeraXion and assumed its existing operating lease for an office building and a warehouse in Quebec City, Canada. Rent for the associated office is payable at approximately $53 per month. The lease will expire on May 31, 2032. In September 2023, the Company entered into a five-year operating lease for an office in Schlieren, Switzerland in connection with the acquisition of Exalos AG. Rent for the associated office is payable monthly with periodic rent adjustments over the lease term, which expires in February 2028. Rent expense is approximately $14 per month. In November 2022, the Company entered into an operating lease in Shanghai, China. Rent expense is approximately $14 per month. This lease will expire on January 15, 2026. In November 2022, the Company entered into a three-year operating lease in Suzhou, China. Rent expense is approximately $6 per month. The total monthly rent for the remaining locations of the Company around the world is not material. The Company recorded $882 of impairment charges related to certain right-of-use assets for the year ended December 31, 2024 as part of its restructuring initiative that commenced in August 2024 (see Note 4 - Restructuring costs ). The table below represents lease-related assets and liabilities recorded on the consolidated balance sheet as of December 31, 2024 and 2023 are as follows: Balance Sheet Classification December 31, 2024 December 31, 2023 Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 16,107 $ 13,790 Liabilities Operating lease liabilities (current) Accrued expenses and other current liabilities $ 2,984 $ 2,653 Operating lease liabilities (noncurrent) Operating lease liabilities 14,278 10,850 Total lease liabilities $ 17,262 $ 13,503 Lease Costs The following lease costs were included in the consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022: Year ended December 31, 2024 2023 2022 Operating lease cost $ 4,237 $ 3,406 $ 2,496 Short-term lease cost — 17 124 Variable lease cost 473 179 174 Total lease cost $ 4,710 $ 3,602 $ 2,794 Supplemental Information The table below presents supplemental information related to operating leases as of December 31, 2024 and 2023 : Year ended December 31, 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,888 $ 3,175 Right-of-use assets obtained in exchange for new operating lease liabilities $ 5,172 $ 3,240 Weighted average remaining lease term — operating leases 5.37 years 6.06 years Weighted average discount rate — operating leases 6.47 % 5.99 % Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as December 31, 2024: 2025 $ 3,994 2026 3,889 2027 3,806 2028 3,464 2027 2,459 Thereafter 2,821 Total minimum lease payments 20,433 Less imputed interest (3,171) Present value of future minimum lease payments 17,262 Less current obligations under leases (2,984) Long-term lease obligations $ 14,278

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company may be a party to routine claims or litigation matters that arise in the ordinary course of its business. These may include disputes and lawsuits related to intellectual property, mergers and acquisitions, licensing, contract law, tax, regulatory, distribution arrangements, employee relations and other matters. Periodically, the Company reviews the status of these matters and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and a range of possible losses can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based only on the best information available at the time. As additional information becomes available, the Company continues to reassess the potential liability related to pending claims and litigation and may revise estimates. Royalty Agreement The Company has entered into license agreements to use certain technology in its design and manufacture of its products. The agreements require royalty fees for each semiconductor sold using the licensed technology. Total royalty expense incurred in connection with these contracts during the years ended December 31, 2024, 2023 and 2022 was $2,325, $3,808, and $1,305, respectively. These expenses are included in cost of goods sold in the consolidated statements of operations. Accrued royalties of $658 and $789 are included in Accrued expenses and other current liabilities in the Company’s consolidated balance sheets as of December 31, 2024 and 2023, respectively. Tax Distributions To the extent the Company has funds legally available, the Board of Directors will approve distributions to each member of ADK LLC, prior to March 15 of each year, in an amount per unit that, when added to all other distributions made to such member with respect to the previous calendar year, equals the estimated federal and state income tax liabilities applicable to such member as the result of its, his or her ownership of the units and the associated net taxable income allocated with respect to such units for the previous calendar year. There were no distributions approved by the Board of Directors or paid by the Company during the years ended December 31, 2024 and 2023.

Supplemental Financial Informat

Supplemental Financial Information	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Supplemental Financial Information	Supplemental Financial Information Accrued expenses and other current liabilities consist of the following: December 31, 2024 2023 Holdbacks and deferred payments for business combination 7,050 4,339 Accrued taxes 3,113 1,672 Operating lease liabilities, current 2,984 2,653 Deferred revenue 2,735 2,473 Issuance costs 2029 Convertible Debt 1,789 — Accrued interest 1,679 1,120 Accrued royalties 658 789 Other (1) 9,289 8,365 Accrued expenses and other current liabilities $ 29,297 $ 21,411 (1) Amount represents accruals for various operating expenses such as professional fees, open purchase orders and other estimates that are expected to be paid within the next 12 months.

Geographical Information

Geographical Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Geographical Information	Geographical Information Long-lived assets include property and equipment, net, which were based on the physical location of the assets as of the end of period presented: December 31, 2024 2023 United States $ 13,640 $ 9,765 Canada 3,657 4,752 Germany 6,585 4,790 China 6,882 4,437 Israel 1,095 1,457 Switzerland 1,826 1,041 Rest of world 597 724 Total $ 34,282 $ 26,966 Segment Reporting The Company designs, develops, manufactures and markets a broad range of integrated circuits (“ICs”). It operates and tracks its results in one reportable segment. indie’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM utilizes financial information presented on a consolidated basis to assess performance and to make key operating decisions such as the determination of resource allocations. The CODM also utilizes the Company’s consolidated long-range plan, which includes product development roadmaps and long-range consolidated financial models, as a key input to resource allocation. The CODM also makes decisions on resource allocation, assesses performance of the business, and monitors budget versus actual results using consolidated operating income (loss) from operations. The CODM does not review any measures of financial results beyond what is presented in the accompanying statement of operations. Significant expenses within income (loss) from operations include cost of revenue, research and development, and selling, general and administrative expenses, which are each separately presented on the Company’s consolidated statement of operations. The Company’s long-lived assets consist primarily of property, plant and equipment, net and right-of-use assets.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Geographical Information Long-lived assets include property and equipment, net, which were based on the physical location of the assets as of the end of period presented: December 31, 2024 2023 United States $ 13,640 $ 9,765 Canada 3,657 4,752 Germany 6,585 4,790 China 6,882 4,437 Israel 1,095 1,457 Switzerland 1,826 1,041 Rest of world 597 724 Total $ 34,282 $ 26,966 Segment Reporting The Company designs, develops, manufactures and markets a broad range of integrated circuits (“ICs”). It operates and tracks its results in one reportable segment. indie’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM utilizes financial information presented on a consolidated basis to assess performance and to make key operating decisions such as the determination of resource allocations. The CODM also utilizes the Company’s consolidated long-range plan, which includes product development roadmaps and long-range consolidated financial models, as a key input to resource allocation. The CODM also makes decisions on resource allocation, assesses performance of the business, and monitors budget versus actual results using consolidated operating income (loss) from operations. The CODM does not review any measures of financial results beyond what is presented in the accompanying statement of operations. Significant expenses within income (loss) from operations include cost of revenue, research and development, and selling, general and administrative expenses, which are each separately presented on the Company’s consolidated statement of operations. The Company’s long-lived assets consist primarily of property, plant and equipment, net and right-of-use assets.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events For its consolidated financial statements as of December 31, 2024 and the year then ended, management reviewed and evaluated material subsequent events from the consolidated balance sheet date of December 31, 2024 through February 28, 2025, the date the consolidated financial statements were issued.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (132,603)	$ (117,625)	$ (43,400)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Kanwardev Raja Singh Bal [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 14, 2024, Kanwardev Raja Singh Bal, Chief Financial Officer, Executive Vice President and Chief Accounting Officer of the Company, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 246,315 shares of Class A common stock until October 31, 2026. The number of shares that may be sold under this trading arrangement will be reduced by the number of shares (not yet determinable) sold to satisfy tax obligations upon the vesting and settlement of certain outstanding equity awards.
Name	Kanwardev Raja Singh Bal
Title	Chief Financial Officer, Executive Vice President and Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 14, 2024
Expiration Date	October 31, 2026
Arrangement Duration	716 days
Aggregate Available	246,315	246,315

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have developed policies and processes for assessing, identifying, and managing material risk from cybersecurity threats informed by industry-recognized standards. We have integrated these processes into our overall risk management systems and programs. Our cybersecurity program includes, among other things: procedures to assess material risk from cybersecurity threats, protocols to monitor any potential unauthorized access to, or conducted through, our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein, mechanisms to safeguard network infrastructure, mandatory employee training on information security, and assessing the sufficiency of existing policies, procedures, systems, controls and other safeguards in place to manage such risks. As part of our risk management process, we have engaged and expect to continue to engage third party experts to help identify and assess risks from cybersecurity threats. Our risk management process is also designed to address cybersecurity risks associated with our use of third-party service providers, and includes procedures such as reviewing security audits and controls of these providers during the onboarding process. In connection with these risk assessments, we design, implement and maintain reasonable safeguards to minimize the identified risks and address identified gaps in existing safeguards, update existing safeguards as necessary and monitor the effectiveness of our safeguards. As of December 31, 2024, we have not identified any risks from cybersecurity threats (including as a result of any previous cybersecurity incidents) that have materially affected our business strategy, our results of operations or our financial condition, but there can be no guarantee that we will not experience a cybersecurity incident in the future. We can give no assurance that we have detected or protected against all cybersecurity threats or cybersecurity incidents. For further discussion of cybersecurity risks, please see our Risk Factors discussion under the heading, “ Risks Related to Our Intellectual Property, Technology and Cybersecurity.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed policies and processes for assessing, identifying, and managing material risk from cybersecurity threats informed by industry-recognized standards. We have integrated these processes into our overall risk management systems and programs. Our cybersecurity program includes, among other things: procedures to assess material risk from cybersecurity threats, protocols to monitor any potential unauthorized access to, or conducted through, our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein, mechanisms to safeguard network infrastructure, mandatory employee training on information security, and assessing the sufficiency of existing policies, procedures, systems, controls and other safeguards in place to manage such risks. As part of our risk management process, we have engaged and expect to continue to engage third party experts to help identify and assess risks from cybersecurity threats. Our risk management process is also designed to address cybersecurity risks associated with our use of third-party service providers, and includes procedures such as reviewing security audits and controls of these providers during the onboarding process.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors (the “Board”) has oversight responsibility over the Company’s strategy and risk management, including material risks related to cybersecurity threats. The Audit Committee of the Board (the “Audit Committee”) oversees the management of systemic risks, including cybersecurity, in accordance with its charter. The Audit Committee receives periodic reports from management concerning our significant cybersecurity threats and risks and the processes we have implemented to address them, and engages in discussions with management regarding the Company’s significant risk exposures and the measures implemented to monitor and control these risks. These discussions include a review of our cybersecurity-related risk assessment and risk management policies.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board of Directors (the “Board”) has oversight responsibility over the Company’s strategy and risk management, including material risks related to cybersecurity threats. The Audit Committee of the Board (the “Audit Committee”) oversees the management of systemic risks, including cybersecurity, in accordance with its charter.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our cybersecurity incident response and vulnerability management processes are designed to escalate cybersecurity incidents to members of management depending on the circumstances. Our information technology department works with management, including the Chief Operating Officer and Chief Financial Officer, to help mitigate and remediate cybersecurity incidents of which they are notified. Our information technology department, led by our director of information technology, includes individuals with over 20 years of prior work experience in various roles involving security, compliance, systems and risk management implementation. In addition, our incident response processes include procedures for reporting material cybersecurity incidents to the Audit Committee for material cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]	Management, in coordination with our information technology department, is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. Management, along with our information technology department, is responsible for approving budgets, approving cybersecurity processes, and reviewing cybersecurity assessments and other cybersecurity-related matters.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Management, in coordination with our information technology department, is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. Management, along with our information technology department, is responsible for approving budgets, approving cybersecurity processes, and reviewing cybersecurity assessments and other cybersecurity-related matters.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our information technology department, led by our director of information technology, includes individuals with over 20 years of prior work experience in various roles involving security, compliance, systems and risk management implementation.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee receives periodic reports from management concerning our significant cybersecurity threats and risks and the processes we have implemented to address them, and engages in discussions with management regarding the Company’s significant risk exposures and the measures implemented to monitor and control these risks. These discussions include a review of our cybersecurity-related risk assessment and risk management policies. Management, in coordination with our information technology department, is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. Management, along with our information technology department, is responsible for approving budgets, approving cybersecurity processes, and reviewing cybersecurity assessments and other cybersecurity-related matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Consolidation	The consolidated financial statements include the consolidated accounts of the Company’s majority-owned subsidiary, ADK LLC, of which approximately 91% was owned by indie as of December 31, 2024. ADK LLC’s consolidated financial statements include its wholly-owned subsidiaries indie Services Corporation, indie LLC and indie City LLC, all California entities, Ay Dee Kay Limited (“Ay Dee Kay Ltd”), a private limited company incorporated under the laws of Scotland, indie GmbH, Symeo GmbH (“Symeo”) and Silicon Radar GmbH (“Silicon Radar”), all of which are private limited liability companies incorporated under the laws of Germany, Exalos AG (“Exalos”), a company limited by shares organized under the laws of Switzerland, indie Kft, a limited liability company incorporated under the laws of Hungary, TeraXion Inc. (“TeraXion”) and Geo Semiconductor Canada Inc., both incorporated under the laws of Canada, indie Semiconductor Israel Ltd., a private limited company incorporated under the laws of Israel, Ay Dee Kay S.A., a limited liability company incorporated under the laws of Argentina, indie Semiconductor Morocco, a limited liability company under the laws of Morocco, indie Semiconductor Japan KK, a limited liability company under the laws of Japan, Wuxi indie Microelectronics (“Wuxi”), a Chinese entity with approximately 59% voting controlled and approximately 34% owned by the Company as of December 31, 2024 and Wuxi’s wholly-owned subsidiaries, indie Semiconductor Suzhou, indie Semiconductor HK, Ltd and Shanghai Ziying Microelectronics Co., Ltd.All significant intercompany accounts and transactions of the subsidiaries have been eliminated in consolidation. The noncontrolling interest attributable to the Company’s less-than-wholly-owned subsidiary is presented as a separate component from stockholders’ equity (deficit) in the consolidated balance sheets, and a noncontrolling interest in the consolidated statements of operations and consolidated statements of stockholders’ equity (deficit) and noncontrolling interest Consolidation The consolidated financial statements comprise the financial statements of the Company, its wholly owned subsidiaries, and subsidiaries that it controls due to ownership of a majority voting interest. Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. All significant intercompany accounts and transactions are eliminated in consolidation. The Company recognizes noncontrolling interest related to its less-than-wholly-owned subsidiary as equity in the consolidated financial statements separate from the parent entity’s equity. The net loss attributable to noncontrolling interest is included in net loss in the consolidated statements of operations and comprehensive loss.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, management evaluates its estimates assumptions, including those related to (i) the collectability of accounts receivable; (ii) write-down for excess and obsolete inventories; (iii) warranty obligations; (iv) the value assigned to and estimated useful lives of long-lived assets; (v) the realization of tax assets and estimates of tax liabilities and tax reserves; (vi) amounts recorded in connection with acquisitions; (vii) recoverability of intangible assets and goodwill; (viii) the recognition and disclosure of fair value of debt instruments and contingent liabilities; (ix) the computation of share-based compensation; (x) accrued expenses; and (xi) the recognition of revenue based on a cost-to-cost measure of progress for certain engineering services contracts. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. The Company engages third-party valuation specialists to assist with estimates related to the valuation of certain financial instruments and assets acquired in connection with acquisitions. Such estimates often require the selection of appropriate valuation methodologies and models, and significant judgment in evaluating ranges of assumptions and financial inputs. Actual results may differ from those estimates under different assumptions or circumstances.
Foreign Currency	Foreign Currency Certain of the Company’s self-sustaining foreign subsidiaries use the local currency as their functional currency. Assets and liabilities for these subsidiaries have been translated into U.S. dollars at the exchange rates prevailing at the end of the period and results of operations at the average exchange rates for the period. Unrealized exchange gains and losses arising from the translation of the financial statements of our non-U.S. functional currency operations are accumulated in the cumulative translation adjustments account in accumulated other comprehensive loss. For those foreign subsidiaries where the U.S. dollar is the functional currency, all foreign currency-denominated accounts are remeasured into U.S. dollars. Unrealized exchange gains and losses arising from remeasurements of foreign currency-denominated assets and liabilities are included within Other income (expense), net in the consolidated statements of operations and comprehensive loss. Gains and losses arising from international intercompany transactions that are of a long-term investment nature are reported in the same manner as translation gains and losses. Realized exchange gains and losses are included in net income for the periods presented.
Foreign Exchange Contracts	Forward Exchange Contracts The Company’s forward exchange contracts, which are used to hedge anticipated U.S. dollar denominated sales and purchases as well as other foreign currency denominated sales and purchases such as Canadian Dollar, Euro and Great British Pound do not qualify for hedge accounting and are recognized at fair value. Any change in the fair value of these contracts is reflected as part of Other income (expense), net in the consolidated statement of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of 90 days or less at the date of purchase. As of December 31, 2024 and 2023, cash and cash equivalents consisted of money market funds and cash deposits that were held by reputable financial institutions in local jurisdictions of the Company’s subsidiaries including primarily the United States, Canada, China, Germany, Great Britain and Switzerland denominated in U.S. dollars and local currency.
Restricted Cash	Restricted Cash The Company’s restricted cash consists of cash that the Company is contractually obligated to maintain in accordance with the terms of its Wells Fargo Bank revolving line of credit agreement.
Accounts Receivable	Accounts Receivable Accounts receivable consist of amounts due primarily from customers for product sales and engineering services agreements. Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company accounts for potential losses in accounts receivable utilizing the allowance method. The Company closely monitors outstanding accounts receivable and considers its knowledge of customers, historical losses, and current and expected economic conditions in establishing the allowance for doubtful accounts. The Company did not have any write-offs in any period presented.
Concentration of Credit Risk	Concentration of Credit Risk The Company deposits its cash with large financial institutions. At times, the Company’s cash balances with individual banking institutions will exceed the limits insured by the FDIC, however, the Company has not experienced any losses on such deposits. The Company extends credit to its customers based upon an evaluation of the customers’ financial condition and credit history and generally does not require collateral. Credit losses, if any estimated, are provided for in the consolidated financial statements and consistently have been within management’s expectations. See Note 15 — Revenue — Concentrations .
Inventory, net	Inventory, net The Company values inventories at the lower of cost or net realizable value on a first-in, first-out basis. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Inventories are reduced for write-downs based on periodic reviews for evidence of slow-moving or obsolete parts. The write-down is based on the comparison between inventory on hand and forecasted customer demand for each specific product. Once written down, inventory write-downs are not reversed until the inventory is sold or scrapped. Inventory write-downs are also established when conditions indicate the net realizable value is less than cost due to physical deterioration, technological obsolescence, changes in price level or other causes. All inventory provisions are recorded to cost of goods sold in the consolidated statement of operations.
Property and Equipment, net	Property and Equipment, net The Company’s property and equipment primarily consist of lab equipment, production tooling and masks, equipment, furniture and fixtures, leasehold improvements, and computer hardware and software. Property and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method based on the estimated useful lives of between three Production masks with discernible future benefits, namely that they will be used to manufacture products to service customer demand, are capitalized and amortized over the estimated useful life of four years. Production masks being used for research and development or testing do not meet the criteria for capitalization and are expensed as research and development costs.
Business Combinations	Business Combinations The Company accounts for its business acquisitions under the ASC Topic 805, Business Combinations guidance for business combinations. The total cost of acquisitions is allocated to the underlying identifiable net assets based on their respective estimated fair values. Determining the fair value of assets acquired and liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items.
Intangible Assets, net	Intangible Assets, net two
Goodwill	Goodwill Goodwill represents the excess of the fair value of purchase consideration of an acquired business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at a reporting unit level on an annual basis on October 1, or more frequently if circumstances change or an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Significant judgment may be required when goodwill is assessed for impairment. Qualitative factors may be assessed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a quantitative goodwill impairment test is not necessary. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company will perform a quantitative goodwill impairment test. The quantitative impairment test for goodwill consists of a comparison of the fair value of a reporting unit with its carrying value, including the goodwill allocated to that reporting unit. If the carrying value of a reporting unit exceeds its fair value, the Company will recognize an impairment loss equal to the amount of the excess, limited to the amount of goodwill allocated to that reporting unit. Application of the impairment test requires judgement, including the identification of reporting units, assignment of assets and liabilities to reporting units and the determination of fair value of each reporting unit. The Company did not record any impairment to goodwill for the years ended December 31, 2024, 2023 and 2022.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews its long-lived assets, consisting of property and equipment, right-of-use assets and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company regularly reviews its operating performance for indicators of impairment. Factors considered important that could trigger an impairment review include a significant underperformance relative to expected historical or projected future operating results, or a significant change in the manner of the use of the assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset (or asset group) to estimated undiscounted future cash flows expected to be generated by the asset (or asset group). If the carrying amount of an asset (or asset group) exceeds its estimated undiscounted future cash flows, an impairment charge is recognized to the extent the fair value is less than the carrying value. The Company recorded $998 of impairment charges related to certain property and equipment and right-of-use assets for the year ended December 31, 2024 as part of its Restructuring Plan (as defined below) initiative that commenced in August 2024 (see Note 4 — Restructuring Costs ). As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the consolidated statement of operations. The Company did not record any impairment to long-lived assets for the years ended December 31, 2023 and 2022.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between willing, able and knowledgeable market participants at the measurement date. Fair value measurements are not adjusted for transaction costs. In addition, a three-tiered hierarchy for inputs is used in management’s determination of fair value of financial instruments that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that the observable inputs be used when available. Observable inputs are market participant assumptions based on market data obtained from sources independent of the Company. Unobservable inputs are the reporting entity’s own assumptions about market participants based on the best information available under the circumstances. In assessing the appropriateness of using observable inputs in making its fair value determinations, the Company considers whether the market for a particular security is “active” or not based on all the relevant facts and circumstances. Valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested under the terms of service agreements. The inputs used by the valuation service providers include, but are not limited to, market prices from recently completed transactions and transactions of comparable securities, interest rate yield curves, credit spreads, currency rates and other market observable information, as applicable. The valuation models consider, among other things, market observable information as of the measurement date as well as the specific attributes of the security being valued including its term, interest rate, credit rating, industry sector and, when applicable, collateral quality and other issue or issuer specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determining fair value is greatly increased. As a basis for considering such assumptions, a three-tier value hierarchy is used in management’s determination of fair value based on the reliability and observability of inputs as follows: Level 1 — Valuations are based on unadjusted quoted prices in active markets that the Company has the ability to access for identical, unrestricted assets and do not involve any meaningful degree of judgment. An active market is defined as a market where transactions for the financial instrument occur with sufficient frequency and volume to provide pricing information on an ongoing basis; Level 2 — Valuations are based on direct and indirect observable inputs other than quoted market prices included in Level 1. Level 2 inputs include quoted prices for similar assets in active markets and inputs other than quoted prices that are observable for the asset, such as the terms of the security and market-based inputs; Level 3 — Valuations are based on techniques that use significant inputs that are unobservable. The valuation of Level 3 assets and liabilities requires the greatest degree of judgment. These measurements may be made under circumstances in which there is little, if any, market activity for the asset or liability. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment. In making the assessment, the Company considers factors specific to the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s fair value measurements in each reporting period include cash equivalents, debt instruments, share-based awards, contingent considerations and earn-out liabilities. The Company’s financial instruments of accounts receivable, accounts payable and accrued expenses are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. The Company continues to remeasure its contingent considerations and earn-out liabilities associated with business combinations using Level 3 fair value measurements.
Warrant Liability	Warrant Liability The Company accounted for the Public Warrants and the Private Warrants, which were issued on June 10, 2021 in connection with the Transaction (as defined below), in accordance with ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity (“ASC 815”), under which the Warrants do not meet the criteria for equity classification and must be recorded as liabilities. As the Warrants did not meet the definition of a derivative as contemplated in ASC 815, the warrants were measured at fair value at inception and at each reporting date in accordance with ASC 820, Fair Value Measurement , with changes in fair value recognized as a component of Other income (expense), net
Segment Information	Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company has multiple business activities and are managed and held accountable for operations, operating results and plans for levels or components below the consolidated unit level by individual segment managers. However, discrete financial information is not reviewed by CODM as the operating results of the Company are reviewed by the CODM only on a consolidated basis. Accordingly, the Company has one operating segment, and therefore, one reportable segment.
Revenue	Revenue Revenue is primarily derived from the design and sale of semiconductor solutions. Revenue is recognized within the scope of ASC 606, Revenue from Contracts with Customers . The Company recognizes product revenue in the consolidated statement of operations when it satisfies performance obligations under the terms of its contracts and upon transfer of control at a point in time when title transfers either upon shipment to or receipt by the customer as determined by the contractual shipping terms of the contract, net of accruals for estimated sales returns and allowances. To date, total returns and allowances issued by the Company has been de minimis. Sales and other taxes the Company collects, if any, are excluded from revenue. Product revenue arrangements do not contain significant financing components. The Company generally offers a limited warranty to customers covering a period of twelve months which obligates the Company to repair or replace manufacturing defective products. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, such warranties are accounted for under ASC 460, Guarantees , and the estimated costs of warranty claims are accrued as cost of goods sold in the period the related revenue is recorded. Infrequently, the Company offers an extended limited warranty to customers for certain products. The Company accrues for known warranty and indemnification issues if a loss is probable and can be reasonably estimated. As of December 31, 2024, total warranty liability is not material. Engineering services contracts with customers typically contain only one distinct performance obligation, which is primarily design services for integrated circuits (“ICs”) based on agreed upon specifications. Engineering services contracts typically also include the purchase, at the customer’s option, of the designed products at agreed upon prices subsequent to completion of the design services. The Company has determined that the option to purchase these products is not a material right and has not allocated transaction price to this provision. For these engineering services arrangements, revenue is recognized over time as services are provided based on the terms of the contract on an input basis, using costs incurred as the measure of progress and is recorded as contract revenue in the consolidated statement of operations. The costs incurred represent the most reliable measure of transfer of control to the customer. Revenue is deferred for amounts billed or received prior to delivery of the services. Practical Expedients and Elections ASC 606 requires disclosure of the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of the reporting periods presented. The guidance provides certain practical expedients that limit this requirement and, therefore, disclosure of the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed is not provided. The Company has elected not to disclose the aggregate amount of transaction prices associated with unsatisfied or partially unsatisfied performance obligations for contracts where these criteria are met. The Company’s policy is to capitalize any incremental costs incurred to obtain a customer contract, only to the extent that the benefit associated with the costs is expected to be longer than one year. Capitalizable contract costs were not significant as of both December 31, 2024 and 2023 and accordingly, no costs have been capitalized. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. When shipping and handling costs are incurred after a customer obtains control of the products, the Company has elected to account for these as costs to fulfill the promise and not as a separate performance obligation. Shipping and handling costs associated with the distribution of products to customers are insignificant, but if incurred, are recorded in cost of goods sold generally when the related product is shipped to the customer. Upon adoption of ASC 842, Leases , the Company elected the package of practical expedients permitted under the transition guidance, which does not require reassessment of prior conclusions related to contracts containing a lease, lease classification and initial direct lease costs. Further, the Company elected to exclude short-term leases (term of 12 months or less) from the balance sheet presentation and accounted for non-lease and lease components in a contract as a single lease for certain asset classes.
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold includes cost of materials and contract manufacturing services, including semiconductor wafers processed by third-party foundries, costs associated with packaging, assembly, testing and shipping products. In addition, cost of goods sold includes the costs of personnel, certain royalties for embedded intellectual property, production tooling used in the manufacturing process, logistics, warranty, and amortization of production mask costs. Cost of goods sold also include amortization of certain intangible assets acquired through business combinations.
Research and Development Expense	Research and Development Expenses Research and development expenses consist of costs incurred in performing product design and development activities including employee compensation and benefits, third-party fees paid to consultants, occupancy costs, pre-production engineering mask costs, engineering samples and prototypes, packaging, test development and product qualification costs. In certain situations, the Company enters into engineering services agreements with certain customers to develop ICs. The costs incurred in satisfying these contracts are recorded as research and development expenses. Research and development expenses also include amortization of certain intangible assets acquired through business combinations. All research and development costs are expensed as incurred.
Selling, General and Administrative Expenses	Selling, General, and Administrative Expenses Selling, general, and administrative expenses include employee compensation and benefits for sales, executive management, finance, accounting, legal, human resources and other administrative personnel. In addition, it includes marketing and advertising, outside legal, tax and accounting services, insurance, and occupancy costs and related overhead costs allocated based on headcount. Selling, general, and administrative costs also include amortization of certain intangible assets acquired through business combinations. Selling, general, and administrative costs are expensed as incurred.
Restructuring Costs	Restructuring Costs In August 2024, the Company initiated a plan intended to improve its operating performance (the “Plan”). The Plan consisted of actions including but not limited to, workforce and facilities reductions. Due to the size, nature and frequency of this Plan, it is fundamentally different from the Company’s ongoing productivity actions. As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the consolidated statement of operations.
Share-Based Compensation	Share-Based Compensation The Company recognizes compensation expense for all share-based payment awards made to employees and directors. The fair value of share-based payment awards is amortized over the requisite service period, which is defined as the period during which an employee is required to provide service in exchange for an award. The Company generally uses a straight-line attribution method for all grants that include only a service condition. Awards with both performance and service conditions are expensed over the service period for each separately vesting tranche. Share-based compensation expense recognized during the period includes actual expense on vested awards and expense associated with unvested awards. Forfeitures are recorded as incurred.
Income Taxes	Income Taxes On June 10, 2021, we completed a series of transactions (the “Transaction”) with Thunder Bridge Acquisition II, Ltd (“TB2”) pursuant to the Master Transactions Agreement dated December 14, 2020, as amended on May 3, 2021 (the “MTA”). In connection with the Transaction, Thunder Bridge II Surviving Pubco, Inc, a Delaware corporation (“Surviving Pubco”), was formed to be the successor public company to TB2, TB2 was domesticated into a Delaware corporation and merged with and into a merger subsidiary of Surviving Pubco, and Surviving Pubco changed its name to indie Semiconductor, Inc. As a result of the Transaction, indie Semiconductor, Inc. became the holding company for ADK LLC. ADK LLC is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, ADK LLC is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by ADK LLC is passed through to and included in the taxable income or loss of its members, including indie, based on its economic interest held in the partnership. indie is taxed as a corporation and is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of ADK LLC, as well as any stand-alone income or loss generated by indie. Income taxes are recognized based upon our underlying annual blended federal, state and foreign income tax rates for the year. As the sole managing member of ADK LLC, indie Semiconductor, Inc. consolidates the financial results of ADK LLC and its subsidiaries. Further, indie Semiconductor Inc. is taxed as a corporation and is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of ADK LLC, as well as any stand-alone income or loss generated by indie. Income tax benefits for the year ended December 31, 2024 are primarily related to our foreign operations. Income tax benefits for the year ended December 31, 2023 are primarily related to the tax effects of our acquisition structure of GEO Semiconductor, Inc. (“GEO”) and release of valuation allowance in China. The Company accounts for income taxes under the asset and liability method pursuant to ASC 740 for its corporate subsidiaries. Under this method, the Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized based on all available positive and negative evidence. As of December 31, 2024, the Company continues to maintain a full valuation allowance against its deferred tax assets in the United States, but has released the valuation allowance for entities in China. The Company recognizes liabilities for uncertain tax positions based on a two-step process regarding recognition and measurement. The Company recognizes a tax benefit only if it is more likely than not the tax position will be sustained on examination by the local taxing authorities based on the technical merits of the position. The Company then measures the tax benefits recognized in the financial statements from such positions based on the largest benefit greater than 50% likelihood of being realized upon ultimate settlement with the related tax authority. The changes in recognition or measurement are reflected in the period in which the change in judgment occurs based on new information not previously available. As of December 31, 2024, the Company has not identified any uncertain tax positions. The Company records interest and penalties related to unrecognized tax benefits in its tax provision. As of December 31, 2024, no accrued interest or penalties are recorded on the consolidated balance sheet, and the Company has not recorded any related expenses.
Comprehensive Loss	Comprehensive Loss
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. The computation of net loss attributable to common stockholders is computed by deducting net earnings or loss attributable to non-controlling interests from the consolidated net earnings or loss. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The dilutive effect of these potential common shares is reflected in diluted earnings per share by application of (i) the treasury stock method for assumed exercise of stock options, vesting of outstanding equity awards; and (ii) if-converted method for assumed issuance of shares related to the convertible debt.
Stock Repurchase	Stock Repurchase The Company accounts for stock repurchases in the consolidated balance sheet by reducing common stock for the par value of the shares, reducing paid-in capital for the amount in excess of par to zero during the period in which the shares are repurchased, and recording the residual amount, if any, to retained earnings.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Not Yet Adopted Accounting Pronouncements In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expenses Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses , which provides guidance to enhance disclosures related to the disaggregation of income statement expenses. The standard requires, in the notes to the financial statements, disclosure of specified information about certain costs and expenses which includes purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. The standard also requires amounts that are already required to be disclosed under U.S. GAAP in the same disclosure as the other disaggregation requirements, disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and disclosure of the total amount of selling expenses and, in annual reporting periods, an entity's definition of selling expenses. The amendments in this standard are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply the guidance either on a retrospective or prospective basis, and early adoption is permitted. The standard will become effective for indie for its fiscal year 2027 annual financial statements and interim financial statements thereafter and may be applied prospectively to periods after the adoption date or retrospectively for all prior periods presented in the financial statements, with early adoption permitted. The Company plans to adopt the standard when it becomes effective beginning in its fiscal year 2027 annual financial statements and is currently evaluating the impact this guidance will have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) — Improvements to Income Tax Disclosures , to require enhanced income tax disclosures to provide information to assess how an entity’s operations and related tax risks, tax planning, and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this update provide that a business entity disclose (1) a tabular income tax rate reconciliation, using both percentages and amounts, (2) separate disclosure of any individual reconciling items that are equal to or greater than 5% of the amount computed by multiplying the income (loss) from continuing operations before income taxes by the applicable statutory income tax rate, and disaggregation of certain items that are significant and (3) amount of income taxes paid (net of refunds received) disaggregated by federal, state and foreign jurisdictions, including separate disclosure of any individual jurisdictions greater than 5% of total income taxes paid. These amendments are effective for the Company for annual periods in 2025, applied prospectively, with early adoption and retrospective application permitted. The Company intends to adopt the amendments in this update prospectively in 2025. The impact of the adoption of the amendments in this update is not expected to be material to the Company’s consolidated financial position and results of operations, since the amendments require only enhancement of existing income tax disclosures in the notes to the Company’s consolidated financial statements. Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures , to require enhanced disclosures that include reportable segment expenses. The amendments in this update provide that a business entity disclose significant segment expenses, segment profit or loss (after significant segment expenses), and allows reporting of additional measures of a segments profit or loss if used in assessing segment performance. Such disclosures apply to entities with a single reportable segment and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company adopted the guidance as of December 31, 2024 on a retrospective basis. The adoption of ASC 2023-07 did not have a material impact on the Company’s segment-related disclosures (see Note 23 - Segment Reporting for further information). In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customer s, to provide specific guidance to eliminate diversity in practice on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts from customers in a business combination consistent with revenue contracts with customers not acquired in an acquisition. The amendments in this update provide that the acquirer should consider the terms of the acquired contracts, such as timing of payment, identify each performance obligation in the contracts, and allocate the total transaction price to each identified performance obligation on a relative standalone selling price basis as of contract inception (that is, the date the acquiree entered into the contracts) or contract modification to determine what should be recorded at the acquisition date. These amendments were effective for the Company in 2023. The impact of the adoption of the amendments in this update was not material to the Company’s consolidated financial position and results of operations. In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. This ASU requires entities to measure the impairment of certain financial instruments, including accounts receivable, based on expected losses rather than incurred losses. This ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted, and will be effective for the Company beginning in 2023. The Company adopted the guidance as of January 1, 2023 and the impact to its consolidated financial statements was not material.

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following presents the final allocation of the purchase consideration to the assets acquired and liabilities assumed for the aforementioned businesses as of December 31, 2024: Kinetic Exalos Silicon Radar GEO Purchase price — cash consideration paid $ 3,200 $ — $ 8,653 $ 91,076 Purchase price — cash consideration accrued 1,300 — 800 3,464 Less: cash acquired — (3,439) (208) (1,092) Net cash consideration $ 4,500 $ (3,439) $ 9,245 $ 93,448 Purchase price — equity consideration issued (common stock) $ — $ 42,791 $ 9,834 $ 75,556 Purchase price — equity consideration issuable (common stock) — 2,500 — 20,979 Total equity consideration $ — $ 45,291 $ 9,834 $ 96,535 Contingent consideration 4,599 9,755 9,240 59,280 Net consideration $ 9,099 $ 51,607 $ 28,319 $ 249,263 Estimated fair value of net assets and liabilities assumed: Current assets other than cash $ 5,306 $ 4,531 $ 2,979 $ 24,043 Property and equipment 950 1,253 781 178 Developed technology 250 23,100 4,950 69,330 In-process research & development 1,250 7,600 8,870 27,040 Customer relationships 160 6,870 4,340 14,220 Backlog 170 1,220 150 390 Trade name 15 4,300 2,130 10,320 Other non-current assets 729 — 17 10 Current liabilities (753) (3,541) (1,585) (6,084) Deferred revenue — — (512) — Deferred tax liabilities, non-current — (8,660) (2,772) (1,982) Other non-current liabilities (217) — — (711) Total fair value of net assets acquired $ 7,860 $ 36,673 $ 19,348 $ 136,754 Goodwill $ 1,239 $ 14,934 $ 8,971 $ 112,509 As of September 30, 2024, the Company finalized the opening net assets acquired and goodwill as follows: Preliminary Valuation Adjustment Final Purchase price — contingent considerations $ 13,225 $ (3,470) $ 9,755 Inventory 1,934 123 2,057 Property and equipment 1,001 252 1,253 Developed technology 7,968 15,132 23,100 In-progress research & development 7,968 (368) 7,600 Customer relationships 5,312 1,558 6,870 Backlog 664 556 1,220 Trade name 3,984 316 4,300 Deferred tax liabilities, non-current (5,330) (3,330) (8,660) Operating lease right-of-use assets step-up 664 (664) — Goodwill 31,979 (17,045) 14,934
Schedule of Asset Acquisition	As of December 31, 2024, the Company finalized the opening net assets acquired and goodwill as follows: Preliminary Valuation Adjustment Final Inventory 4,444 (734) 3,710 Property and equipment 962 (12) 950 Developed technology 455 (205) 250 In-progress research & development 750 500 1,250 Customer relationships 250 (90) 160 Backlog 19 151 170 Trade name 97 (82) 15 Goodwill 767 472 1,239
Schedule of Pro Forma Financial Information	The unaudited pro forma financial information shown below summarizes the combined results of operations for the Company and GEO as if the closing of the acquisition had occurred on January 1, 2023: Year ended Year ended December 31, 2022 Combined revenue $ 226,839 $ 160,748 Combined net loss before income taxes $ (143,046) $ (87,020)

Inventory, net (Tables)

Inventory, net (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Net Inventories	Inventory, net consists of the following: December 31, 2024 2023 Raw materials $ 14,496 $ 7,360 Work-in-process 21,229 12,423 Finished goods 18,737 15,896 Inventory, gross 54,462 35,679 Less: Inventory reserves 4,575 2,538 Inventory, net $ 49,887 $ 33,141

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property and equipment, net consists of the following: December 31, Useful life 2024 2023 (in years) Production tooling 4 $ 21,256 $ 16,428 Lab equipment 4 14,484 12,887 Office equipment 3 - 7 10,162 6,539 Leasehold improvements * 1,921 1,898 Construction in progress 7,597 3,867 Property and equipment, gross 55,420 41,619 Less: Accumulated depreciation 21,139 14,653 Property and equipment, net $ 34,281 $ 26,966 * Leasehold improvements are amortized over the shorter of the remaining lease term or estimated useful life of the leasehold improvement.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets, Net	Intangible assets, net consist of the following: December 31, 2024 December 31, 2023 Weighted Gross Accumulated Net Weighted Gross Accumulated Net Developed technology 5.8 $ 121,893 $ (33,609) $ 88,284 6.3 $ 106,512 $ (17,876) $ 88,636 Software licenses 2.8 23,706 (6,243) 17,463 1.0 23,745 (18,828) 4,917 Customer relationships 7.6 43,159 (9,118) 34,041 9.4 41,441 (5,156) 36,285 Intellectual property licenses 0.8 1,947 (1,736) 211 0.3 1,911 (1,736) 175 Trade names 4.9 26,301 (7,496) 18,805 6.0 25,970 (4,311) 21,659 Backlog 0.6 2,296 (1,683) 613 1.2 1,570 (700) 870 Effect of exchange rate on gross carrying amount (6,662) — (6,662) (917) — (917) Intangible assets with finite lives 212,640 (59,885) 152,755 200,232 (48,607) 151,625 IPR&D 57,390 — 57,390 56,508 — 56,508 Effect of exchange rate on gross carrying amount (1,201) — (1,201) 1 — 1 Total intangible assets with indefinite lives 56,189 — 56,189 56,509 — 56,509 Total intangible assets $ 268,829 $ (59,885) $ 208,944 $ 256,741 $ (48,607) $ 208,134
Schedule of Indefinite-Lived Intangible Assets, Net	Intangible assets, net consist of the following: December 31, 2024 December 31, 2023 Weighted Gross Accumulated Net Weighted Gross Accumulated Net Developed technology 5.8 $ 121,893 $ (33,609) $ 88,284 6.3 $ 106,512 $ (17,876) $ 88,636 Software licenses 2.8 23,706 (6,243) 17,463 1.0 23,745 (18,828) 4,917 Customer relationships 7.6 43,159 (9,118) 34,041 9.4 41,441 (5,156) 36,285 Intellectual property licenses 0.8 1,947 (1,736) 211 0.3 1,911 (1,736) 175 Trade names 4.9 26,301 (7,496) 18,805 6.0 25,970 (4,311) 21,659 Backlog 0.6 2,296 (1,683) 613 1.2 1,570 (700) 870 Effect of exchange rate on gross carrying amount (6,662) — (6,662) (917) — (917) Intangible assets with finite lives 212,640 (59,885) 152,755 200,232 (48,607) 151,625 IPR&D 57,390 — 57,390 56,508 — 56,508 Effect of exchange rate on gross carrying amount (1,201) — (1,201) 1 — 1 Total intangible assets with indefinite lives 56,189 — 56,189 56,509 — 56,509 Total intangible assets $ 268,829 $ (59,885) $ 208,944 $ 256,741 $ (48,607) $ 208,134
Schedule of Future Amortization Expense	Based on the amount of definite-lived intangible assets subject to amortization as of December 31, 2024, amortization expense for each of the next five fiscal years is expected to be as follows: 2025 $ 31,194 2026 29,215 2027 23,087 2028 19,239 2029 6,340 Thereafter 43,680 Total $ 152,755

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the carrying amount and activity of goodwill as of December 31, 2024: December 31, 2024 2023 Balance at the beginning of the period $ 295,096 $ 136,463 Acquisitions (Note 3) 1,239 153,447 Measurement period adjustment for business combinations from prior year (17,045) — Effect of exchange rate on goodwill (12,922) 5,186 Balance at the end of the period $ 266,368 $ 295,096

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Components of Debt	The following table sets forth the components of debt as of December 31, 2024 and 2023: December 31, 2024 2023 Principal Unamortized Carrying Principal Unamortized Carrying 2027 Notes $ 160,000 $ (3,262) $ 156,738 $ 160,000 $ (4,288) $ 155,712 2029 Notes 218,500 (8,857) 209,643 — — — CIBC loan, due 2026 2,368 (2) 2,366 3,971 (13) 3,958 Total term loans 380,868 (12,121) 368,747 163,971 (4,301) 159,670 Revolving line of credit 12,583 (13) 12,570 1,171 — 1,171 Total debt $ 393,451 $ (12,134) $ 381,317 $ 165,142 $ (4,301) $ 160,841 The outstanding debt as of December 31, 2024 and 2023 is classified in the consolidated balance sheets as follows: December 31, 2024 2023 Current liabilities – Current debt obligations $ 12,220 $ 4,106 Noncurrent liabilities – Long-term debt net of current maturities 369,097 156,735 Total debt $ 381,317 $ 160,841
Schedule of Components of Interest Expense	The table below sets forth the components of interest expense for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Interest expense on the 2027 Notes Stated interest at 4.50% per annum $ 7,220 $ 7,200 $ 900 Amortization of discount and issuance cost 1,026 970 116 Total interest expense related to the 2027 Notes 8,246 8,170 1,016 Interest expense on the 2029 Notes Stated interest at 3.50% per annum 524 — — Amortization of discount and issuance cost 109 — — Total interest expense related to the 2029 Notes 633 — — Interest expense on other debt obligations: Contractual interest 342 455 375 Amortization of discount and issuance cost 37 25 301 Total interest expense related to other debt obligations 379 480 676 Total interest expense $ 9,258 $ 8,650 $ 1,692
Schedule of Maturities of Long-term Debt	The future maturities of the debt obligations are as follows: 2025 $ 12,583 2026 2,368 2027 160,000 2028 — 2029 218,500 Total $ 393,451

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities	The following table presents the Company’s fair value hierarchy for financial assets and liabilities: Fair Value Measurements as of December 31, 2024 Level 1 Level 2 Level 3 Total Liabilities: Kinetic Contingent Consideration — First Tranche $ — $ — $ 2,455 $ 2,455 Kinetic Contingent Consideration — Second Tranche $ — $ — $ 1,908 $ 1,908 Exalos Contingent Consideration — Second Tranche $ — $ — $ 634 $ 634 GEO Indemnity Holdback $ 6,344 $ — $ — $ 6,344 City Semi Contingent Consideration — Second Tranche $ — $ — $ 500 $ 500 Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Exalos Contingent consideration — First Tranche $ — $ — $ 9,593 $ 9,593 Exalos contingent Consideration — Second Tranche $ — $ — $ 4,012 $ 4,012 GEO Contingent Consideration — First Tranche $ — $ — $ 44,709 $ 44,709 GEO Contingent Consideration — Second Tranche $ — $ — $ 25,921 $ 25,921 GEO Indemnity Holdback $ 12,704 $ — $ — $ 12,704 Silicon Radar Contingent Consideration — First Tranche $ — $ — $ 2,740 $ 2,740 Silicon Radar Contingent Consideration — Second Tranche $ — $ — $ 3,310 $ 3,310 City Semi Contingent Consideration — Second Tranche $ — $ — $ 940 $ 940 Symeo Contingent Consideration — Second Tranche $ — $ — $ 7 $ 7
Schedule of Unobservable Input Reconciliation	The following table presents the significant unobservable inputs assumed for each of the fair value measurements: As of December 31, 2024 As of December 31, 2023 Input Input Liabilities: Kinetic Contingent Consideration - First Tranche Market yield rate 7.34 % N/A Scenario probability 100.00 % N/A Kinetic Contingent Consideration - Second Tranche Market yield rate 7.68 % N/A Scenario probability 70.00 % N/A Exalos Contingent Consideration — First Tranche Discount rate N/A 7.46 % Volatility N/A 75.00 % Exalos Contingent Consideration — Second Tranche Discount rate 10.20 % 7.46 % Volatility 60.00 % 70.00 % GEO Contingent Consideration — First Tranche Discount rate N/A 12.60 % Volatility N/A 60.00 % GEO Contingent Consideration — Second Tranche Discount rate N/A 12.60 % Volatility N/A 60.00 % Silicon Radar Contingent Consideration — First Tranche Discount rate N/A 10.79 % Volatility N/A 60.00 % Silicon Radar Contingent Consideration — Second Tranche Discount rate 10.39 % 10.79 % Volatility 60.00 % 60.00 % City Semi Contingent Consideration — Second Tranche Discount rate 12.65 % 12.65 % Symeo Contingent Consideration — Second Tranche Discount Rate N/A 4.73 %

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present revenue disaggregated by geography of the shipping location for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 United States $ 38,197 $ 53,558 $ 39,915 Greater China 98,307 101,323 43,969 Europe 37,337 36,042 16,713 South Korea 15,211 18,768 3,728 Rest of North America 4,438 8,475 4,788 Rest of Asia Pacific 21,245 2,949 204 South America 1,947 2,054 1,480 Total $ 216,682 $ 223,169 $ 110,797
Schedule of Contract Liabilities	The following table presents the assets and liabilities associated with the engineering services contracts recorded on the consolidated balance sheet as of December 31, 2024 and 2023: December 31, Balance Sheet Classification 2024 2023 Unbilled revenue Prepaid expenses and other current assets $ 9,154 $ 8,506 Contract liabilities Accrued expenses and other current liabilities $ 2,735 $ 2,473
Schedules of Customers Accounting for More Than 10% of Total Revenue	As identified below, one of our customers accounted for more than 10% of the Company’s total revenue for the years ended December 31, 2023 and 2022. No individual customer accounted for more than 10% of the Company’s total revenue for the year ended December 31, 2024: December 31, 2024 2023 2022 Customer A 9.3 % 14.8 % 36.9 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of the Components of Share-Based Compensation Expense	The following table sets forth the share-based compensation for the periods presented: Year Ended December 31, 2024 2023 2022 Cost of goods sold $ 985 $ 363 $ 149 Research and development 43,449 25,750 28,325 Selling, general, and administrative 22,375 17,597 13,411 Restructuring costs 431 — — Total $ 67,240 $ 43,710 $ 41,885
Schedule of Profit Interest Activity	The following table sets forth the changes in the Company’s outstanding 2021 Omnibus Equity Incentive Plan non-option awards for the years ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 9,250,357 $ 8.52 Granted 9,932,545 $ 6.12 Vested (4,630,999) $ 8.40 — Forfeited (898,957) $ 8.26 Nonvested shares as of December 31, 2023 13,652,946 13,652,946 $ 6.80 Granted 10,449,306 $ 6.08 Vested (7,565,367) $ 6.76 — Forfeited (1,710,039) $ 7.23 Nonvested shares as of December 31, 2024 14,826,846 $ 7.09 The following table sets forth the changes in the Company’s outstanding 2023 Inducement Plan non-option awards for the year ended December 31, 2024 and 2023: Number of Shares Weighted Shares Retained to Cover Statutory Minimum Withholding Taxes Nonvested shares as of December 31, 2022 — $ — Granted 1,840,023 $ 9.04 Vested (97,510) $ 9.53 — Forfeited (128,050) $ 9.53 Nonvested shares as of December 31, 2023 1,614,463 $ 8.97 Granted 1,071,639 $ 6.16 Vested (548,986) $ 8.75 — Forfeited (269,800) $ 9.23 Nonvested shares as of December 31, 2024 1,867,316 $ 7.48
Schedule of Changes in Outstanding Options	The following table sets forth the changes in the Company’s outstanding options in the 2021 Plan for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 368,875 $ 10.74 9.07 $ — Granted — $ — Exercised — $ — Forfeited or expired (50,667) $ 11.69 Outstanding at December 31, 2023 318,208 $ 10.58 8.08 $ — Granted — $ — Exercised — $ — Forfeited or expired (17,743) $ 6.60 Outstanding at December 31, 2024 300,465 $ 10.82 7.06 $ — Exercisable at December 31, 2024 150,225 $ 10.82 7.06 $ — Vested or expected to vest 150,225 $ 10.82 7.06 $ — The following table sets forth the changes in the Company’s outstanding options for the years ended December 31, 2024 and 2023: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding at December 31, 2022 1,214,044 $ 0.16 4.88 $ 6,889 Exercised (289,364) $ 0.11 Forfeited or expired — $ — Outstanding at December 31, 2023 924,680 $ 0.17 3.82 $ 7,343 Exercised (297,017) $ 0.18 Forfeited or expired — $ — Outstanding at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Exercisable at December 31, 2024 627,663 $ 0.16 2.81 $ 2,470 Vested or expected to vest 627,663 $ 0.16 2.81 $ 2,470

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Common Unit	Basic and diluted net loss per common share was calculated as follows: Year Ended December 31, 2024 2023 2022 Numerator: Net loss $ (144,187) $ (128,832) $ (52,788) Less: Net loss attributable to noncontrolling interest (11,584) (11,207) (9,388) Net loss attributable to common stockholders — basic $ (132,603) $ (117,625) $ (43,400) Net loss attributable to common shares — dilutive $ (132,603) $ (117,625) $ (43,400) Denominator: Weighted average shares outstanding—basic 175,029,650 145,188,867 118,660,785 Weighted average common shares outstanding—diluted 175,029,650 145,188,867 118,660,785 Net loss per share attributable to common shares— basic $ (0.76) $ (0.81) $ (0.37) Net loss per share attributable to common shares— diluted $ (0.76) $ (0.81) $ (0.37)
Schedule of Antidilutive Units Excluded from Computation of Net Loss Per Unit	Year Ended December 31, 2024 2023 2022 Unvested Class B units — 61,683 746,294 Unvested Phantom units — 290,138 647,028 Unvested Restricted stock units 16,694,162 14,915,588 7,857,035 Convertible Class V common shares 17,671,251 18,694,332 21,381,476 Public warrants for the purchase of Class A common stock — — 17,250,000 Private warrants for the purchase of Class A common stock — — 10,150,000 Unexercised options 150,240 223,753 349,006 Earn-out Shares 5,000,000 5,000,000 5,000,000 Escrow Shares 1,725,000 1,725,000 1,725,000 2027 convertible notes into Class A common stock 18,497,110 18,497,110 18,497,110 2029 convertible notes into Class A common stock 42,524,208 — — 102,261,971 59,407,604 83,602,949

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The components of loss before income taxes for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 United States $ (144,808) $ (140,371) $ (49,948) Foreign (1,301) 7,005 (3,875) Total $ (146,109) $ (133,366) $ (53,823)
Schedule of Components of Income Tax Expense (Benefit)	The components of the provision for income taxes for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Current expense: Federal $ 41 $ 96 $ — State 69 23 224 Foreign 1,886 766 818 Total current expense: $ 1,996 $ 885 $ 1,042 Deferred expense: Federal $ (4) $ (2,000) $ — State (5) (5) — Foreign (3,909) (3,414) (2,077) Total deferred benefit: $ (3,918) $ (5,419) $ (2,077) Total income tax benefit $ (1,922) $ (4,534) $ (1,035)
Schedule of Deferred Tax Assets and Liabilities	The components of deferred tax assets (liabilities) as of December 31, 2024 and 2023 are as follows: December 31, 2024 2023 Investment in Ay Dee Kay, LLC 58,005 44,922 Net operating loss (“NOL”) carryforwards 68,102 57,289 Tax credits 6,789 5,374 Other deferred tax assets $ 9,696 $ 6,015 Total deferred tax assets before valuation allowance 142,592 113,600 Valuation allowance (137,444) (109,701) Deferred tax assets – net of valuation allowance 5,148 3,899 Other deferred tax liabilities $ (1,149) $ (1,214) Intangibles (15,659) (16,381) Total deferred tax liabilities (16,808) (17,595) Net deferred tax liabilities $ (11,660) $ (13,696)
Schedule of Valuation Allowance	Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024 and 2023, are as follows: 2024 2023 Valuation Allowance as on January 1 st $ 109,701 $ 70,040 Increases recorded to tax provision 27,743 15,244 Increases recorded to goodwill — 26,040 Decreases recorded as a benefit to income tax provision — (1,623) Valuation Allowance as on December 31 st $ 137,444 $ 109,701
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the federal statutory income tax rate to the effective tax rate for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Income tax provision at U.S. statutory federal rate $ (30,683) $ (27,721) $ (11,286) State income tax provision, net of federal income tax effect 389 (1,216) (5) Foreign rate differential (1,571) (2,445) (250) Noncontrolling interest 2,965 4,858 1,844 Change in valuation allowance 24,358 19,511 6,728 Section 162(m) addback on executive compensation — 565 542 GILTI inclusion, net 4,102 2,881 1,301 Other (1,482) (967) 91 Provision for income taxes $ (1,922) $ (4,534) $ (1,035)
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022 are as follows: Year Ended December 31, 2024 2023 2022 Balance at January 1st $ 696 $ — $ — Additions for purchase accounting — 696 — Balance at December 31st $ 696 $ 696 $ —

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Balance Sheet Classification	The table below represents lease-related assets and liabilities recorded on the consolidated balance sheet as of December 31, 2024 and 2023 are as follows: Balance Sheet Classification December 31, 2024 December 31, 2023 Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 16,107 $ 13,790 Liabilities Operating lease liabilities (current) Accrued expenses and other current liabilities $ 2,984 $ 2,653 Operating lease liabilities (noncurrent) Operating lease liabilities 14,278 10,850 Total lease liabilities $ 17,262 $ 13,503
Schedule of Lease Cost Components	The following lease costs were included in the consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022: Year ended December 31, 2024 2023 2022 Operating lease cost $ 4,237 $ 3,406 $ 2,496 Short-term lease cost — 17 124 Variable lease cost 473 179 174 Total lease cost $ 4,710 $ 3,602 $ 2,794 Supplemental Information The table below presents supplemental information related to operating leases as of December 31, 2024 and 2023 : Year ended December 31, 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,888 $ 3,175 Right-of-use assets obtained in exchange for new operating lease liabilities $ 5,172 $ 3,240 Weighted average remaining lease term — operating leases 5.37 years 6.06 years Weighted average discount rate — operating leases 6.47 % 5.99 %
Schedule of Future Lease Obligations	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as December 31, 2024: 2025 $ 3,994 2026 3,889 2027 3,806 2028 3,464 2027 2,459 Thereafter 2,821 Total minimum lease payments 20,433 Less imputed interest (3,171) Present value of future minimum lease payments 17,262 Less current obligations under leases (2,984) Long-term lease obligations $ 14,278

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses and other current liabilities consist of the following: December 31, 2024 2023 Holdbacks and deferred payments for business combination 7,050 4,339 Accrued taxes 3,113 1,672 Operating lease liabilities, current 2,984 2,653 Deferred revenue 2,735 2,473 Issuance costs 2029 Convertible Debt 1,789 — Accrued interest 1,679 1,120 Accrued royalties 658 789 Other (1) 9,289 8,365 Accrued expenses and other current liabilities $ 29,297 $ 21,411 (1) Amount represents accruals for various operating expenses such as professional fees, open purchase orders and other estimates that are expected to be paid within the next 12 months.

Geographical Information (Table

Geographical Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Long-lived Assets by Geographic Areas	Long-lived assets include property and equipment, net, which were based on the physical location of the assets as of the end of period presented: December 31, 2024 2023 United States $ 13,640 $ 9,765 Canada 3,657 4,752 Germany 6,585 4,790 China 6,882 4,437 Israel 1,095 1,457 Switzerland 1,826 1,041 Rest of world 597 724 Total $ 34,282 $ 26,966

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - At-The-Market Agreement and Warrant Exchange (Details) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended			28 Months Ended
	Nov. 09, 2023	Oct. 20, 2023	Aug. 26, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024	Sep. 22, 2023	Jun. 10, 2021
Schedule of Equity Method Investments [Line Items]
Offering costs for the issuance of common stock/At-the-market offering				$ (428)	$ (1,138)	$ (379)
Warrant
Schedule of Equity Method Investments [Line Items]
Warrants issued (in shares)		24,658,461
Percentage of outstanding warrants		90%
Tendered Warrants
Schedule of Equity Method Investments [Line Items]
Exercise price (in dollars per share)		$ 0.285
Percentage of outstanding warrants		89.80%
Untendered Warrants
Schedule of Equity Method Investments [Line Items]
Warrants issued (in shares)	2,741,426
Public Warrants
Schedule of Equity Method Investments [Line Items]
Warrants issued (in shares)								1	17,250,000
Exercise price (in dollars per share)								$ 11.50
Private Warrants
Schedule of Equity Method Investments [Line Items]
Warrants issued (in shares)								1
Exercise price (in dollars per share)								$ 11.50
Class A
Schedule of Equity Method Investments [Line Items]
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.1000	$ 0.1000		$ 0.1000
Issuance in connection with At-The-Market equity offering (in shares)	703,175
Converted ratio		0.2565
Difference between conversion ratio and exchange ratio		10%
Class A | Common Stock
Schedule of Equity Method Investments [Line Items]
Issuance in connection with At-The-Market equity offering (in shares)		7,027,517		3,787,725	5,219,500	2,131,759
Class A | At-The-Market Offering
Schedule of Equity Method Investments [Line Items]
Sale of stock, aggregate sales price			$ 150,000
Total proceeds				$ 19,847	$ 53,136		$ 90,187
Number of shares issued in transaction (in shares)				3,787,725	5,219,500		11,138,984
Price per share of stock sold (in dollars per share)				$ 5.24	$ 10.18		$ 8.10
Sale of stock, shares reserved for future issuance							$ 59,813
Issuance cost				$ 428

Nature of the Business and Ba_3

Nature of the Business and Basis of Presentation - Recent Acquisitions (Details) - Kinetic - USD ($) $ in Thousands		1 Months Ended
	Jan. 25, 2024	Jul. 31, 2024	Jan. 31, 2024
Schedule of Equity Method Investments [Line Items]
Net cash consideration	$ 3,200		$ 4,500
Asset acquisition, contingent consideration	4,599
Subject to Achievement of Certain Production Based Milestones
Schedule of Equity Method Investments [Line Items]
Asset acquisition, contingent consideration	$ 2,348
Contingent consideration period	24 months
Subject to Achievement of Certain Revenue Based Milestones
Schedule of Equity Method Investments [Line Items]
Asset acquisition, contingent consideration	$ 2,251
Contingent consideration period	12 months
Subject to Working Capital of Certain Revenue Based Milestones
Schedule of Equity Method Investments [Line Items]
Contingent consideration period	18 months
Asset acquisition, contingent consideration business days	5 days
Adjustment Holdback
Schedule of Equity Method Investments [Line Items]
Asset acquisition, contingent consideration	$ 500
Payment for contingent consideration liability, asset acquisition		$ 500
Indemnity Holdback
Schedule of Equity Method Investments [Line Items]
Asset acquisition, contingent consideration	$ 800

Nature of the Business and Ba_4

Nature of the Business and Basis of Presentation - Narrative (Details) - shares	Dec. 31, 2024	Dec. 31, 2023	Jun. 21, 2023	Jun. 20, 2023
Ay Dee Kay, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent	91%	90%
Ownership interest by noncontrolling owners	26%
Ay Dee Kay, LLC | Wuxi indie Microelectronics Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent	59%	59%
Ownership interest by noncontrolling owners	34%	34%
Class A
Schedule of Equity Method Investments [Line Items]
Common stock, shares authorized (in shares)	400,000,000	400,000,000	400,000,000	250,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Writeoff	$ 0
Impairment of goodwill	0	$ 0	$ 0
Impairment charges	$ 998,000
Impairment of long-lived assets		0	0
Number of operating segments (in segments) | segment	1
Number of reportable segments (in segments) | segment	1
Capitalizable contract costs	$ 0	0
Cost capitalized	0	0
Unrecognized tax benefits	696,000	696,000	0	$ 0
Accrued interest or penalties	0
Unrecognized tax benefits, related expenses	0
Foreign currency translation adjustments	$ (18,814,000)	$ 5,781,000	$ (10,624,000)
Production Masks
Property, Plant and Equipment [Line Items]
Useful life	4 years
Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Weighted average remaining useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	7 years
Weighted average remaining useful life	12 years

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Allocation (Details) - USD ($) $ in Thousands				1 Months Ended				11 Months Ended	12 Months Ended
	Jan. 25, 2024	Feb. 21, 2023	Feb. 09, 2023	Jan. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Feb. 28, 2023	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2024	Sep. 18, 2023
Business Combination, Consideration Transferred
Business combinations, net of cash acquired									$ 3,200	$ 94,990	$ 8,705
Estimated fair value of net assets and liabilities assumed:
Goodwill								$ 266,368	266,368	$ 295,096	$ 136,463
Exalos
Business Combination, Consideration Transferred
Less: cash acquired					$ (3,439)
Business combinations, net of cash acquired					(3,439)
Purchase price - equity consideration					45,291
Contingent consideration					9,755
Net consideration					51,607
Estimated fair value of net assets and liabilities assumed:
Current assets other than cash								4,531	4,531
Property and equipment								1,253	1,253			$ 1,253	$ 1,001
Other non-current assets								0	0
Current liabilities								(3,541)	(3,541)
Deferred revenue								0	0
Deferred tax liabilities, non-current								(8,660)	(8,660)
Other non-current liabilities								0	0
Total fair value of net assets acquired								36,673	36,673
Goodwill								14,934	14,934			14,934	31,979
Exalos | IPR&D
Estimated fair value of net assets and liabilities assumed:
In-process research & development								7,600	7,600
Exalos | Developed technology
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								23,100	23,100			23,100	7,968
Exalos | Customer relationships
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								6,870	6,870			6,870	5,312
Exalos | Backlog
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								1,220	1,220			1,220	664
Exalos | Trade name
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								4,300	4,300			4,300	3,984
Deferred tax liabilities, non-current												$ (8,660)	$ (5,330)
Exalos | Initial Cash Considation
Business Combination, Consideration Transferred
Purchase price — cash consideration paid					0
Exalos | Cash Consideration Accural
Business Combination, Consideration Transferred
Purchase price — cash consideration paid					0
Exalos | Equity Consideration Issued | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration					42,791
Exalos | Equity Consideration Issuable | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration					$ 2,500
Silicon Radar
Business Combination, Consideration Transferred
Less: cash acquired							$ (208)
Business combinations, net of cash acquired		$ 9,245					9,245
Purchase price - equity consideration							9,834
Contingent consideration							9,240
Net consideration							28,319
Estimated fair value of net assets and liabilities assumed:
Current assets other than cash								2,979	2,979
Property and equipment								781	781
Other non-current assets								17	17
Current liabilities								(1,585)	(1,585)
Deferred revenue								(512)	(512)
Deferred tax liabilities, non-current								(2,772)	(2,772)
Other non-current liabilities								0	0
Total fair value of net assets acquired								19,348	19,348
Goodwill								8,971	8,971
Silicon Radar | IPR&D
Estimated fair value of net assets and liabilities assumed:
In-process research & development								8,870	8,870
Silicon Radar | Developed technology
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								4,950	4,950
Silicon Radar | Customer relationships
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								4,340	4,340
Silicon Radar | Backlog
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								150	150
Silicon Radar | Trade name
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								2,130	2,130
Silicon Radar | Initial Cash Considation
Business Combination, Consideration Transferred
Purchase price — cash consideration paid							8,653
Silicon Radar | Cash Consideration Accural
Business Combination, Consideration Transferred
Purchase price — cash consideration paid							800
Silicon Radar | Equity Consideration Issued | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration							9,834
Silicon Radar | Equity Consideration Issuable | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration							$ 0
GEO
Business Combination, Consideration Transferred
Less: cash acquired						$ (1,092)
Business combinations, net of cash acquired			$ 93,448			93,448
Purchase price - equity consideration			$ 20,979			96,535
Contingent consideration						59,280
Net consideration						249,263
Estimated fair value of net assets and liabilities assumed:
Current assets other than cash								24,043	24,043
Property and equipment								178	178
Other non-current assets								10	10
Current liabilities								(6,084)	(6,084)
Deferred revenue								0	0
Deferred tax liabilities, non-current								(1,982)	(1,982)
Other non-current liabilities								(711)	(711)
Total fair value of net assets acquired								136,754	136,754
Goodwill								112,509	112,509
GEO | IPR&D
Estimated fair value of net assets and liabilities assumed:
In-process research & development								27,040	27,040
GEO | Developed technology
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								69,330	69,330
GEO | Customer relationships
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								14,220	14,220
GEO | Backlog
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								390	390
GEO | Trade name
Estimated fair value of net assets and liabilities assumed:
Intangible asset, preliminary and final valuation								10,320	$ 10,320
GEO | Initial Cash Considation
Business Combination, Consideration Transferred
Purchase price — cash consideration paid						91,076
GEO | Cash Consideration Accural
Business Combination, Consideration Transferred
Purchase price — cash consideration paid						3,464
GEO | Equity Consideration Issued | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration						75,556
GEO | Equity Consideration Issuable | Common Stock
Business Combination, Consideration Transferred
Purchase price - equity consideration						$ 20,979
Kinetic
Asset Acquisition, Consideration Transferred
Less: cash acquired				$ 0
Net cash consideration	$ 3,200			4,500
Purchase price - equity consideration				0
Contingent consideration				4,599
Net consideration				9,099
Estimated fair value of net assets and liabilities assumed:
Current assets other than cash				5,306
Property and equipment				950				950
Other non-current assets				729
Current liabilities				(753)
Deferred revenue				0
Deferred tax liabilities, non-current				0
Other non-current liabilities				(217)
Total fair value of net assets acquired				7,860
Kinetic | IPR&D
Estimated fair value of net assets and liabilities assumed:
In-process research & development				1,250
Kinetic | Developed technology
Estimated fair value of net assets and liabilities assumed:
Finite-lived intangible assets acquired				250				250
Kinetic | Customer relationships
Estimated fair value of net assets and liabilities assumed:
Finite-lived intangible assets acquired				160				160
Kinetic | Backlog
Estimated fair value of net assets and liabilities assumed:
Finite-lived intangible assets acquired				170				170
Kinetic | Trade name
Estimated fair value of net assets and liabilities assumed:
Finite-lived intangible assets acquired				15				$ 15
Kinetic | Initial Cash Considation
Asset Acquisition, Consideration Transferred
Purchase price — cash consideration paid				3,200
Kinetic | Cash Consideration Accural
Asset Acquisition, Consideration Transferred
Purchase price — cash consideration paid				1,300
Kinetic | Equity Consideration Issued | Common Stock
Asset Acquisition, Consideration Transferred
Purchase price - equity consideration				0
Kinetic | Equity Consideration Issuable | Common Stock
Asset Acquisition, Consideration Transferred
Purchase price - equity consideration				$ 0

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($)

1 Months Ended

10 Months Ended

11 Months Ended

12 Months Ended

Nov. 07, 2024

Sep. 27, 2024

Jan. 25, 2024

Sep. 18, 2023

Jul. 07, 2023

Mar. 03, 2023

Feb. 21, 2023

Feb. 09, 2023

Dec. 31, 2024

Jul. 31, 2024

May 31, 2024

Jan. 31, 2024

Sep. 30, 2023

Mar. 31, 2023

Feb. 28, 2023

Dec. 31, 2023

Dec. 31, 2024

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Sep. 30, 2024

Business Acquisition [Line Items]

Total revenue

$ 216,682,000

$ 223,169,000

$ 110,797,000

Fair value of common stock issuable for business combination

0

23,479,000

0

Amortization of intangible assets

33,244,000

26,481,000

11,644,000

Business combinations, net of cash acquired

$ 3,200,000

$ 94,990,000

$ 8,705,000

Customer relationships

Business Acquisition [Line Items]

Weighted average remaining useful life

7 years 7 months 6 days

9 years 4 months 24 days

7 years 7 months 6 days

7 years 7 months 6 days

9 years 4 months 24 days

Backlog

Business Acquisition [Line Items]

Weighted average remaining useful life

7 months 6 days

1 year 2 months 12 days

7 months 6 days

7 months 6 days

1 year 2 months 12 days

Trade name

Business Acquisition [Line Items]

Weighted average remaining useful life

4 years 10 months 24 days

6 years

4 years 10 months 24 days

4 years 10 months 24 days

6 years

Maximum

Business Acquisition [Line Items]

Weighted average remaining useful life

12 years

12 years

12 years

Minimum

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

2 years

2 years

Kinetic

Business Acquisition [Line Items]

Net cash consideration

$ 3,200,000

$ 4,500,000

Asset acquisition, contingent consideration

$ 4,599,000

Transaction cost

$ 352,000

Holdback period

18 months

Kinetic | Developed technology

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

Kinetic | Customer relationships

Business Acquisition [Line Items]

Weighted average remaining useful life

10 years

Kinetic | Backlog

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

Kinetic | Trade name

Business Acquisition [Line Items]

Weighted average remaining useful life

3 years

Kinetic | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Asset acquisition, contingent consideration

$ 2,455,000

$ 2,455,000

2,455,000

Kinetic | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Asset acquisition, contingent consideration

1,908,000

1,908,000

1,908,000

Kinetic | Subject to Achievement of Certain Production Based Milestones

Business Acquisition [Line Items]

Asset acquisition, contingent consideration

$ 2,348,000

Contingent consideration period

24 months

Kinetic | Subject to Achievement of Certain Revenue Based Milestones

Business Acquisition [Line Items]

Asset acquisition, contingent consideration

$ 2,251,000

Contingent consideration period

12 months

Kinetic | Subject to Working Capital of Certain Revenue Based Milestones

Business Acquisition [Line Items]

Contingent consideration period

18 months

Asset acquisition, contingent consideration business days

5 days

Kinetic | Production Earnout

Business Acquisition [Line Items]

Production earnout, period

24 months

Kinetic | Revenue Earnout

Business Acquisition [Line Items]

Revenue threshold

$ 12,000,000

Achievement period

12 months

Kinetic | Maximum | Production Earnout

Business Acquisition [Line Items]

Production earnout

$ 3,000,000

Kinetic | Maximum | Revenue Earnout

Business Acquisition [Line Items]

Revenue earnout

2,500,000

Kinetic | Adjustment Holdback

Business Acquisition [Line Items]

Payment for contingent consideration liability, asset acquisition

$ 500,000

Asset acquisition, contingent consideration

500,000

Kinetic | Indemnity Holdback

Business Acquisition [Line Items]

Asset acquisition, contingent consideration

$ 800,000

ADK LLC

Business Acquisition [Line Items]

Total revenue

$ 59,687,000

Exalos

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 45,291,000

Purchase price — contingent considerations

$ 13,225,000

$ 9,755,000

Holdback amount

$ 2,500,000

Acquisition related costs

384,000

621,000

Holdback period

12 months

Gain due to holdback adjustment

(48,000)

Amortization of intangible assets

554,000

Business combinations, net of cash acquired

$ (3,439,000)

Exalos | Developed technology

Business Acquisition [Line Items]

Weighted average remaining useful life

10 years

Exalos | Customer relationships

Business Acquisition [Line Items]

Weighted average remaining useful life

7 years

Exalos | Backlog

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

Exalos | Trade name

Business Acquisition [Line Items]

Weighted average remaining useful life

7 years

Exalos | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price — contingent considerations

$ 9,593,000

9,593,000

Contingent consideration

$ 13,500,000

Revenue threshold

$ 19,000,000

Achievement period

12 months

12 months

Exalos | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Purchase price — contingent considerations

634,000

4,012,000

634,000

634,000

4,012,000

Contingent consideration

$ 6,500,000

Revenue threshold

$ 21,000,000

Achievement period

12 months

12 months

Exalos | Class A

Business Acquisition [Line Items]

Equity interest issued or issuable (in shares)

6,613,786

Purchase price — contingent considerations

$ 9,755,000

Exalos | Common Stock | Class A | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 2,536,000

Stock issued due to acquisitions (in shares)

2,845,243

Fair value of common stock issuable for business combination

$ 9,930,000

Exalos | Maximum

Business Acquisition [Line Items]

Contingent consideration

$ 20,000,000

GEO

Business Acquisition [Line Items]

Total revenue

48,417,000

Equity interest issued or issuable (in shares)

1,907,180

Purchase price - equity consideration

$ 20,979,000

$ 96,535,000

Holdback amount

$ 0

0

$ 0

$ 0

0

Acquisition related costs

2,473,000

Gain due to holdback adjustment

1,096,000

Fair value of common stock issuable for business combination

75,556,000

Business combinations, net of cash acquired

$ 93,448,000

$ 93,448,000

Business acquisition, indemnity holdback period (in months)

24 months

Business acquisition, indemnity holdback, shares (in shares)

1,566,472

Indemnity holdback, fair value

$ 17,231,000

Business acquisition, adjustment holdback, shares (in shares)

291,366

340,708

Business acquisition, adjustment holdback, period

60 days

Business acquisition, adjustment holdback, fair value

$ 2,651,000

$ 3,748,000

Business combination, period for volume-weighted-average-price

20 days

GEO | Developed technology

Business Acquisition [Line Items]

Weighted average remaining useful life

8 years

8 years

8 years

GEO | Customer relationships

Business Acquisition [Line Items]

Weighted average remaining useful life

12 years

12 years

12 years

GEO | Backlog

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

2 years

2 years

GEO | Trade name

Business Acquisition [Line Items]

Weighted average remaining useful life

8 years

8 years

8 years

GEO | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price — contingent considerations

44,709,000

44,709,000

Contingent consideration

$ 20,000,000

Achievement period

12 months

12 months

GEO | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Purchase price — contingent considerations

25,921,000

25,921,000

Revenue threshold

$ 10,000,000

Achievement period

6 months

6 months

GEO | Class A

Business Acquisition [Line Items]

Equity interest issued or issuable (in shares)

610,975

Purchase price - equity consideration

$ 2,548,000

$ 75,556,000

Purchase price — contingent considerations

$ 59,280,000

GEO | Class A

Business Acquisition [Line Items]

Equity interest issued or issuable (in shares)

6,868,768

GEO | Common Stock | Class A | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 40,667,000

Stock issued due to acquisitions (in shares)

6,096,951

GEO | Common Stock | Class A | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 4,459,000

Stock issued due to acquisitions (in shares)

1,015,621

GEO | Maximum | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Contingent consideration

$ 55,000,000

GEO | Maximum | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Contingent consideration

$ 35,000,000

GEO | Maximum | Common Stock

Business Acquisition [Line Items]

Share price (in dollars per share)

$ 11.50

GEO | Minimum | Common Stock

Business Acquisition [Line Items]

Share price (in dollars per share)

$ 8.50

GEO | Indemnity Holdback

Business Acquisition [Line Items]

Purchase price — contingent considerations

$ 6,344,000

12,704,000

$ 6,344,000

$ 6,344,000

12,704,000

Silicon Radar

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 9,834,000

Acquisition related costs

717,000

Holdback period

12 months

Fair value of common stock issuable for business combination

9,834,000

Business combinations, net of cash acquired

$ 9,245,000

9,245,000

Business combination, period for volume-weighted-average-price

20 days

Silicon Radar | Customer relationships

Business Acquisition [Line Items]

Weighted average remaining useful life

10 years

10 years

10 years

Silicon Radar | Backlog

Business Acquisition [Line Items]

Weighted average remaining useful life

2 years

2 years

2 years

Silicon Radar | Trade name

Business Acquisition [Line Items]

Weighted average remaining useful life

7 years

7 years

7 years

Silicon Radar | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price — contingent considerations

2,740,000

2,740,000

Revenue threshold

$ 5,000,000

Achievement period

12 months

Silicon Radar | Contingent Consideration Tranche Two

Business Acquisition [Line Items]

Purchase price — contingent considerations

$ 3,310,000

$ 3,310,000

Contingent consideration

$ 7,000,000

Revenue threshold

$ 7,000,000

Achievement period

12 months

Silicon Radar | Class A

Business Acquisition [Line Items]

Equity interest issued or issuable (in shares)

982,445

Purchase price — contingent considerations

$ 9,240,000

Silicon Radar | Common Stock | Class A | Contingent Consideration Tranche One

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 6,045,000

Stock issued due to acquisitions (in shares)

1,103,140

Silicon Radar | Purchase price - equity consideration

Business Acquisition [Line Items]

Purchase price - equity consideration

$ 9,834,000

Silicon Radar | Maximum

Business Acquisition [Line Items]

Contingent consideration

$ 9,000,000

Silicon Radar | Maximum | Developed technology

Business Acquisition [Line Items]

Weighted average remaining useful life

10 years

10 years

10 years

Silicon Radar | Minimum | Developed technology

Business Acquisition [Line Items]

Weighted average remaining useful life

3 years

3 years

3 years

Business Combinations - Sched_2

Business Combinations - Schedule of Net Assets Acquired and Goodwill Related to Kinetic (Details) - USD ($) $ in Thousands		1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 25, 2024	Jan. 31, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Asset Acquisition [Line Items]
Goodwill				$ 1,239	$ 153,447
Kinetic
Asset Acquisition [Line Items]
Inventory			$ 3,710
Adjustment, Inventory			(734)
Property and equipment		$ 950	950
Adjustment, Property and equipment			(12)
Goodwill		1,239	1,239
Adjustment, Goodwill			472
Kinetic | Previously Reported
Asset Acquisition [Line Items]
Inventory	$ 4,444
Property and equipment	962
Goodwill	767
Kinetic | Developed technology
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired		250	250
Adjustment, Intangible asset			(205)
Kinetic | Developed technology | Previously Reported
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	455
Kinetic | IPR&D
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired			1,250
Adjustment, Intangible asset			500
Kinetic | IPR&D | Previously Reported
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	750
Kinetic | Customer relationships
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired		160	160
Adjustment, Intangible asset			(90)
Kinetic | Customer relationships | Previously Reported
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	250
Kinetic | Backlog
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired		170	170
Adjustment, Intangible asset			151
Kinetic | Backlog | Previously Reported
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	19
Kinetic | Trade name
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 15	15
Adjustment, Intangible asset			$ (82)
Kinetic | Trade name | Previously Reported
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 97

Business Combinations - Sched_3

Business Combinations - Schedule of Net Assets Acquired and Goodwill Related to Exalos AG (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 18, 2023
Business Acquisition [Line Items]
Goodwill	$ 1,239		$ 153,447
Exalos
Business Acquisition [Line Items]
Purchase price — contingent considerations		$ 9,755		$ 13,225
Inventory		2,057		1,934
Property and equipment	1,253	1,253		1,001
Deferred tax liabilities, non-current	(8,660)
Operating lease right-of-use assets step-up		0		664
Exalos | Developed technology
Business Acquisition [Line Items]
Intangible asset	23,100	23,100		7,968
Exalos | IPR&D
Business Acquisition [Line Items]
Intangible asset		7,600		7,968
Exalos | Customer relationships
Business Acquisition [Line Items]
Intangible asset	6,870	6,870		5,312
Exalos | Backlog
Business Acquisition [Line Items]
Intangible asset	1,220	1,220		664
Exalos | Trade name
Business Acquisition [Line Items]
Intangible asset	$ 4,300	4,300		3,984
Deferred tax liabilities, non-current		(8,660)		$ (5,330)
Exalos | Adjustment
Business Acquisition [Line Items]
Adjustment, Purchase price — contingent considerations		(3,470)
Adjustment, Inventory		123
Adjustment, Property and equipment		252
Adjustment, Operating lease right-of-use assets step-up		(664)
Adjustment, Goodwill		(17,045)
Exalos | Adjustment | Developed technology
Business Acquisition [Line Items]
Adjustment, Intangible asset		15,132
Exalos | Adjustment | IPR&D
Business Acquisition [Line Items]
Adjustment, Intangible asset		(368)
Exalos | Adjustment | Customer relationships
Business Acquisition [Line Items]
Adjustment, Intangible asset		1,558
Exalos | Adjustment | Backlog
Business Acquisition [Line Items]
Adjustment, Intangible asset		556
Exalos | Adjustment | Trade name
Business Acquisition [Line Items]
Adjustment, Intangible asset		316
Adjustment, Deferred tax liabilities, non-current		$ (3,330)

Business Combinations - Sched_4

Business Combinations - Schedule of Pro Forma Financial Information (Details) - GEO - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined revenue	$ 226,839	$ 160,748
Combined net loss before income taxes	$ (143,046)	$ (87,020)

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 4,332	$ 0	$ 0
Restructuring reserve	$ 884

Inventory, net - Schedule of Co

Inventory, net - Schedule of Components of Net Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 14,496	$ 7,360
Work-in-process	21,229	12,423
Finished goods	18,737	15,896
Inventory, gross	54,462	35,679
Less: Inventory reserves	4,575	2,538
Inventory, net	$ 49,887	$ 33,141

Inventory, net - Narrative (Det

Inventory, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Allowance for credit losses and inventory reserves	$ 1,918	$ 746	$ 1,563

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Aug. 31, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 55,420	$ 55,420	$ 41,619
Less: Accumulated depreciation		21,139	21,139	14,653
Property and equipment, net		34,281	34,281	26,966
Depreciation expense on reclassified assets			6,533	5,367	$ 3,168
Asset impairment in relation to restructuring	$ 116	$ 882	$ 998	0	$ 0
Minimum
Property, Plant and Equipment [Line Items]
Useful life		3 years	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life		7 years	7 years
Production tooling
Property, Plant and Equipment [Line Items]
Useful life		4 years	4 years
Property and equipment, gross		$ 21,256	$ 21,256	16,428
Lab equipment
Property, Plant and Equipment [Line Items]
Useful life		4 years	4 years
Property and equipment, gross		$ 14,484	$ 14,484	12,887
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 10,162	$ 10,162	6,539
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life		3 years	3 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life		7 years	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 1,921	$ 1,921	1,898
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 7,597	$ 7,597	$ 3,867

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Finite and Indefinite-Lived Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross, effect of exchange rate on carrying value, finite-lived	$ (6,662)	$ (917)
Accumulated amortization, effect of exchange rate on carrying value, finite-lived	0	0
Net effect of exchange rate on carrying value, finite-lived	(6,662)	(917)
Gross Carrying Amount	212,640	200,232
Accumulated Amortization	(59,885)	(48,607)
Net Carrying Amount	152,755	151,625
Effect of exchange rate on gross carrying amount	(1,201)	1
Total intangible assets with indefinite lives	56,189	56,509
Total intangible assets	268,829	256,741
Total intangible assets	208,944	208,134
IPR&D
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 57,390	$ 56,508
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	5 years 9 months 18 days	6 years 3 months 18 days
Gross Carrying Amount	$ 121,893	$ 106,512
Accumulated Amortization	(33,609)	(17,876)
Net Carrying Amount	$ 88,284	$ 88,636
Software licenses
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	2 years 9 months 18 days	1 year
Gross Carrying Amount	$ 23,706	$ 23,745
Accumulated Amortization	(6,243)	(18,828)
Net Carrying Amount	$ 17,463	$ 4,917
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	7 years 7 months 6 days	9 years 4 months 24 days
Gross Carrying Amount	$ 43,159	$ 41,441
Accumulated Amortization	(9,118)	(5,156)
Net Carrying Amount	$ 34,041	$ 36,285
Intellectual property licenses
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	9 months 18 days	3 months 18 days
Gross Carrying Amount	$ 1,947	$ 1,911
Accumulated Amortization	(1,736)	(1,736)
Net Carrying Amount	$ 211	$ 175
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	4 years 10 months 24 days	6 years
Gross Carrying Amount	$ 26,301	$ 25,970
Accumulated Amortization	(7,496)	(4,311)
Net Carrying Amount	$ 18,805	$ 21,659
Backlog
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	7 months 6 days	1 year 2 months 12 days
Gross Carrying Amount	$ 2,296	$ 1,570
Accumulated Amortization	(1,683)	(700)
Net Carrying Amount	$ 613	$ 870

Intangible Assets, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 0	$ 0	$ 0
Amortization of intangible assets	33,244,000	$ 26,481,000	$ 11,644,000
Software and Software Development Costs
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 20,585,000
Weighted average remaining useful life	3 years
Finite lived intangible assets, cost of fully amortized and retired assets	$ 20,345,000

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 31,194
2026	29,215
2027	23,087
2028	19,239
2029	6,340
Thereafter	43,680
Net Carrying Amount	$ 152,755	$ 151,625

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 295,096	$ 136,463
Acquisitions (Note 3)	1,239	153,447
Change in goodwill	(17,045)	0
Effect of exchange rate on goodwill	(12,922)	5,186
Balance at the end of the period	266,368	295,096
Exalos
Goodwill [Roll Forward]
Change in goodwill	$ (17,045)	$ 31,967

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Change in goodwill	$ (17,045,000)	$ 0
Increase (decrease) due to exchange rate on goodwill	(12,922,000)	5,186,000
Impairment of goodwill	0	0	$ 0
Exalos
Goodwill [Line Items]
Change in goodwill	(17,045,000)	31,967,000
GEO
Goodwill [Line Items]
Change in goodwill		112,509,000
Silicon Radar
Goodwill [Line Items]
Change in goodwill		$ 8,971,000
Kinetic
Goodwill [Line Items]
Change in goodwill	$ 1,239,000

Debt - Schedule of Components o

Debt - Schedule of Components of Debt (Details) $ in Thousands, $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CAD ($)	Dec. 06, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Nov. 21, 2022 USD ($)
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	$ 393,451			$ 165,142
Unamortized discount and issuance cost	(12,134)			(4,301)
Carrying amount	381,317			160,841
Senior Notes | 2027 Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	160,000			160,000
Unamortized discount and issuance cost	(3,262)			(4,288)		$ (5,374)
Carrying amount	156,738			155,712
Senior Notes | 2029 Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	218,500			0
Unamortized discount and issuance cost	(8,857)		$ (8,967)	0
Carrying amount	209,643			0
Line of Credit | Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	12,583			1,171
Unamortized discount and issuance cost	(13)			0
Carrying amount	12,570			1,171
Line of Credit | TeraXion Line of Credit
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	2,368	$ 3,405		3,971	$ 5,262
Unamortized discount and issuance cost	(2)			(13)
Carrying amount	2,366			3,958
Secured Debt
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Principal outstanding	380,868			163,971
Unamortized discount and issuance cost	(12,121)			(4,301)
Carrying amount	$ 368,747			$ 159,670

Debt - Schedule of Balance Shee

Debt - Schedule of Balance Sheet Components (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Current liabilities – Current debt obligations	$ 12,220	$ 4,106
Noncurrent liabilities – Long-term debt net of current maturities	369,097	156,735
Carrying amount	$ 381,317	$ 160,841

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, $ in Thousands							12 Months Ended
	Dec. 06, 2024 USD ($)	Dec. 03, 2024 USD ($) tradingDay $ / shares	Mar. 29, 2024 USD ($)	Nov. 21, 2022 USD ($) tradingDay $ / shares	Nov. 16, 2022 USD ($)	Oct. 12, 2021 CAD ($)	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2024 CAD ($)	Dec. 05, 2024 USD ($)	Sep. 27, 2024 USD ($)	Sep. 27, 2024 CNY (¥)	Dec. 31, 2023 CAD ($)	Nov. 17, 2022 USD ($)
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Convertible note capped call transactions							$ 23,380,000	$ 0	$ 0
Unamortized discount and issuance cost							12,134,000	4,301,000
Carrying amount							381,317,000	160,841,000
Amortization of discount and cost of issuance of debt							1,172,000	997,000	417,000
Value of share repurchased									$ 7,404,000
Outstanding amount							393,451,000	$ 165,142,000
Revolving Credit Facility | Wells Fargo
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Line of credit facility, maximum borrowing capacity			$ 10,000,000
Restricted cash							10,000,000
Outstanding amount							$ 10,000,000
Amortization of debt issuance costs			$ 50,000
Revolving Credit Facility | Wells Fargo | SOFR
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Basis spread on variable rate			1.75%
Class A
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Share price (in dollars per share) | $ / shares		$ 4.03
Share repurchase (in shares) | shares							0	0	1,112,524
Average cost per share (in dollars per share) | $ / shares									$ 6.65
Value of share repurchased									$ 7,404,000
Line of Credit | Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Unamortized discount and issuance cost							$ 13,000	$ 0
Carrying amount							12,570,000	1,171,000
Outstanding amount							$ 12,583,000	1,171,000
2029 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate							3.50%			3.50%
Principal amount											$ 218,500,000
Exchange ratio		0.1946188
Conversion price (in dollars per share) | $ / shares		$ 5.14
Premium on initial conversion price		27.50%
Unamortized discount and issuance cost	$ 8,967,000						$ 8,857,000	0
Carrying amount							209,643,000	0
Long-term debt, fair value							$ 228,333,000
Debt instrument, redemption price, percentage							104.50%
Amortization of discount and cost of issuance of debt							$ 109,000	0	0
Outstanding amount							218,500,000	0
2029 Notes | Senior Notes | Debt Instrument, Redemption, Period One
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold consecutive trading days | tradingDay		30
Debt conversion percentage of stock price trigger		130%
Business days | tradingDay		5
Measurement period | tradingDay		10
Redemption price percentage		98%
2029 Notes | Senior Notes | Debt Instrument, Redemption, Period Two
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold consecutive trading days | tradingDay		30
Debt conversion percentage of stock price trigger		130%
Redemption price percentage		100%
Debt Instrument, required outstanding amount not subject to redemption		$ 50,000,000
2029 Notes | Senior Notes | Maximum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Conversion price (in dollars per share) | $ / shares		$ 0.2481399
2029 Notes | Senior Notes | Minimum | Debt Instrument, Redemption, Period One
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold trading days | tradingDay		20
2029 Notes | Senior Notes | Minimum | Debt Instrument, Redemption, Period Two
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold trading days | tradingDay		20
2029 Notes Capped Call Transactions | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Capped call transactions, cap price per share (in dollars per share) | $ / shares		$ 8.06
Premium on initial conversion price		100%
2029 Notes Capped Call Transactions | Senior Notes | Call Option
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Convertible note capped call transactions							$ 23,380,000
2027 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate							4.50%			4.50%
Principal amount															$ 160,000,000
Exchange ratio				0.1155869
Conversion price (in dollars per share) | $ / shares				$ 8.65
Premium on initial conversion price				30%
Share price (in dollars per share) | $ / shares				$ 6.655
Redemption price percentage				100%
Unamortized discount and issuance cost				$ 5,374,000			$ 3,262,000	4,288,000
Carrying amount							156,738,000	155,712,000
Amortization of discount and cost of issuance of debt							1,026,000	970,000	116,000
Noncash interest expense							1,026,000	970,000	$ 116,000
Outstanding amount							$ 160,000,000	$ 160,000,000
2027 Notes | Senior Notes | Debt Instrument, Redemption, Period One
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold consecutive trading days | tradingDay				30
Debt conversion percentage of stock price trigger				130%
Business days | tradingDay				5
Measurement period | tradingDay				5
Redemption price percentage				98%
2027 Notes | Senior Notes | Debt Instrument, Redemption, Period Two
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold consecutive trading days | tradingDay				30
Redemption price percentage				100%
2027 Notes | Senior Notes | Maximum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Conversion price (in dollars per share) | $ / shares				$ 0.1502629
2027 Notes | Senior Notes | Minimum | Debt Instrument, Redemption, Period One
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold trading days | tradingDay				20
2027 Notes | Senior Notes | Minimum | Debt Instrument, Redemption, Period Two
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt conversion threshold trading days | tradingDay				20
Debt conversion percentage of stock price trigger				130%
Convertible Senior Notes Due 2027
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate							91.51%	119.78%		91.51%				119.78%
Principal amount							$ 146,416,000	$ 191,648,000
TeraXion Line of Credit | Revolving Credit Facility | Prime rate
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Basis spread on variable rate							0.25%
TeraXion Line of Credit | Line of Credit
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Unamortized discount and issuance cost							$ 2,000	13,000
Carrying amount							2,366,000	3,958,000
Line of credit facility, maximum borrowing capacity						$ 9,440
Outstanding amount							2,368,000	3,971,000		$ 3,405				$ 5,262
Monthly interest payment						$ 155
Line of credit facility, incremental borrowing capacity amount								$ 7,000,000
Percent of EBITDA								100%						100%
TeraXion Line of Credit | Line of Credit | Prime rate
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Basis spread on variable rate						0.25%
TeraXion Line Of Credit Used As Securitization | Line of Credit
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Line of credit facility, maximum borrowing capacity										6,000				$ 5,000
TeraXion Line Of Credit Used As Securitization | Line of Credit | Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Outstanding amount							$ 2,583,000	$ 1,171,000		$ 3,713				$ 1,551
Short Term Loan Agreement | Bank of Ningbo Co., Ltd | Loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate												3.50%	3.50%
Principal amount												$ 5,705,000	¥ 40,000,000
Initial Purchasers | 2029 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate	3.50%
Principal amount	$ 190,000,000
Exercisable period	13 days
Initial Purchasers | 2027 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate					4.50%
Principal amount					$ 140,000,000
Exercisable period					30 days
Additional Notes | 2029 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate	3.50%
Principal amount	$ 28,500,000
Additional Notes | 2027 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate					4.50%
Principal amount					$ 20,000,000

Debt - Schedule of Components_2

Debt - Schedule of Components of Interest Expense on Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Amortization of discount and cost of issuance of debt	$ 1,172	$ 997	$ 417
Total interest expense	9,258	8,650	1,692
Other Debt
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Contractual interest	342	455	375
Amortization of discount and cost of issuance of debt	37	25	301
Total interest expense	$ 379	480	676
2027 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate	4.50%
Contractual interest	$ 7,220	7,200	900
Amortization of discount and cost of issuance of debt	1,026	970	116
Total interest expense	$ 8,246	8,170	1,016
2029 Notes | Senior Notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Interest rate	3.50%
Contractual interest	$ 524	0	0
Amortization of discount and cost of issuance of debt	109	0	0
Total interest expense	$ 633	$ 0	$ 0

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 12,583
2026	2,368
2027	160,000
2028	0
2029	218,500
Total Debt	$ 393,451

Warrant Liability (Details)

Warrant Liability (Details) - USD ($) $ in Thousands			10 Months Ended	12 Months Ended
	Nov. 09, 2023	Jun. 10, 2021	Nov. 09, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 22, 2023
Class of Warrant or Right [Line Items]
Gain from change in fair value of warrants			$ 7,066	$ 0	$ (7,066)	$ (55,069)
Earn-out liability				$ 0	$ 0
Accounting Standards Update, Adjustment
Class of Warrant or Right [Line Items]
Gain from change in fair value of warrants	$ 38,331
Class B
Class of Warrant or Right [Line Items]
Conversion of stock, shares converted (in shares)		8,625,000
Public Warrants
Class of Warrant or Right [Line Items]
Warrants issued (in shares)		17,250,000					1
Working Capital Warrants
Class of Warrant or Right [Line Items]
Warrants issued upon conversion (in shares)		1,500,000

Contingent and Earn-Out Liabi_2

Contingent and Earn-Out Liabilities (Details)

1 Months Ended

12 Months Ended

Jan. 02, 2025 USD ($) shares

Nov. 07, 2024 USD ($) shares

Sep. 27, 2024 USD ($) shares

Oct. 26, 2023 USD ($) shares

Sep. 18, 2023 USD ($) shares

Mar. 03, 2023 USD ($)

Feb. 21, 2023 USD ($) shares

Feb. 09, 2023 USD ($) shares

Jan. 04, 2022 USD ($)

Jun. 10, 2021 tradingDay $ / shares shares

May 13, 2020 USD ($)

Dec. 31, 2024 USD ($) shares

May 31, 2024 USD ($) shares

Jan. 31, 2024 USD ($) shares

Sep. 30, 2023 USD ($)

Apr. 30, 2023 USD ($) shares

Mar. 31, 2023 USD ($)

Feb. 28, 2023 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Sep. 30, 2024 USD ($)

Dec. 31, 2021 USD ($)

May 31, 2021 USD ($)

Reverse Capitalization [Line Items]

Earn-out liability

$ 0

$ 0

$ 0

Stock issued due to acquisitions

0

23,479,000

$ 0

Contingent considerations

3,589,000

3,589,000

83,903,000

City Semi

Reverse Capitalization [Line Items]

Contingent consideration

$ 1,180,000

Symeo

Reverse Capitalization [Line Items]

Contingent considerations

$ 4,390,000

Contingent considerations

3,446,000

Symeo | Class A

Reverse Capitalization [Line Items]

Equity interest issued or issuable (in shares) | shares

363,194

Symeo | Purchase price - equity consideration

Reverse Capitalization [Line Items]

Purchase price - equity consideration

$ 1,900,000

Silicon Radar

Reverse Capitalization [Line Items]

Contingent consideration

$ 9,240,000

Stock issued due to acquisitions

9,834,000

Purchase price - equity consideration

9,834,000

Contingent considerations

$ 4,155,000

Contingent considerations

$ 5,085,000

Business combination, period for volume-weighted-average-price

20 days

Silicon Radar | Class A

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 9,240,000

Equity interest issued or issuable (in shares) | shares

982,445

Silicon Radar | Purchase price - equity consideration

Reverse Capitalization [Line Items]

Purchase price - equity consideration

$ 9,834,000

GEO

Reverse Capitalization [Line Items]

Contingent consideration

$ 59,280,000

Stock issued due to acquisitions

75,556,000

Purchase price - equity consideration

$ 20,979,000

$ 96,535,000

Contingent considerations

$ 38,828,000

Contingent considerations

$ 20,452,000

Equity interest issued or issuable (in shares) | shares

1,907,180

Business combination, period for volume-weighted-average-price

20 days

GEO | Class A

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 59,280,000

Purchase price - equity consideration

$ 2,548,000

$ 75,556,000

Equity interest issued or issuable (in shares) | shares

610,975

GEO | Class A

Reverse Capitalization [Line Items]

Equity interest issued or issuable (in shares) | shares

6,868,768

Exalos

Reverse Capitalization [Line Items]

Contingent consideration

$ 9,755,000

Purchase price — contingent considerations

$ 13,225,000

$ 9,755,000

Purchase price - equity consideration

$ 45,291,000

Contingent considerations

7,328,000

Contingent considerations

2,427,000

Exalos | Class A

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 9,755,000

Equity interest issued or issuable (in shares) | shares

6,613,786

First Tranche | City Semi

Reverse Capitalization [Line Items]

Maximum contingent consideration

500,000

Purchase price — contingent considerations

$ 456,000

First Tranche | Silicon Radar

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

2,740,000

Revenue threshold

$ 5,000,000

Achievement period

12 months

First Tranche | Silicon Radar | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

2,740,000

First Tranche | Silicon Radar | Common Stock | Class A

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

1,103,140

Purchase price - equity consideration

$ 6,045,000

First Tranche | GEO

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

44,709,000

Achievement period

12 months

12 months

Contingent consideration

$ 20,000,000

First Tranche | GEO | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

44,709,000

First Tranche | GEO | Common Stock | Class A

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

6,096,951

Purchase price - equity consideration

$ 40,667,000

First Tranche | Exalos

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

9,593,000

Revenue threshold

$ 19,000,000

Achievement period

12 months

12 months

Contingent consideration

$ 13,500,000

First Tranche | Exalos | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

9,593,000

First Tranche | Exalos | Common Stock | Class A

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

2,845,243

Stock issued due to acquisitions

$ 9,930,000

Purchase price - equity consideration

$ 2,536,000

First Tranche | Symeo GmbH

Reverse Capitalization [Line Items]

Revenue threshold

5,000

Second Tranche | City Semi

Reverse Capitalization [Line Items]

Contingent consideration

500,000

$ 1,000,000

Maximum contingent consideration

$ 1,500,000

Purchase price — contingent considerations

500,000

500,000

940,000

Accrued contingebt consideration related to acquisition

$ 500,000

$ 500,000

Second Tranche | City Semi | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

500,000

500,000

940,000

Second Tranche | City Semi | Common Stock

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

62,562

73,311

Stock issued due to acquisitions

$ 500,000

$ 608,000

Second Tranche | City Semi | Common Stock | Subsequent Event

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

114,127

Stock issued due to acquisitions

$ 480,000

Purchase price - equity consideration

$ 34,000

Second Tranche | Symeo

Reverse Capitalization [Line Items]

Deferred City Semi compensation

7,000

Second Tranche | Silicon Radar

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

3,310,000

Revenue threshold

$ 7,000,000

Achievement period

12 months

Contingent consideration

$ 7,000,000

Second Tranche | Silicon Radar | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 0

0

3,310,000

Second Tranche | GEO

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

25,921,000

Revenue threshold

$ 10,000,000

Achievement period

6 months

6 months

Second Tranche | GEO | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

25,921,000

Second Tranche | GEO | Common Stock | Class A

Reverse Capitalization [Line Items]

Stock issued due to acquisitions (in shares) | shares

1,015,621

Purchase price - equity consideration

$ 4,459,000

Second Tranche | Exalos

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

634,000

634,000

4,012,000

Revenue threshold

$ 21,000,000

Achievement period

12 months

12 months

Contingent consideration

$ 6,500,000

Second Tranche | Exalos | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 634,000

$ 634,000

4,012,000

Second Tranche | Symeo GmbH

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

7,000

Revenue threshold

$ 6,000

Second Tranche | Symeo GmbH | Level 3

Reverse Capitalization [Line Items]

Purchase price — contingent considerations

$ 7,000

Maximum | Silicon Radar

Reverse Capitalization [Line Items]

Contingent consideration

$ 9,000,000

Maximum | Exalos

Reverse Capitalization [Line Items]

Contingent consideration

$ 20,000,000

Maximum | First Tranche | GEO

Reverse Capitalization [Line Items]

Contingent consideration

$ 55,000,000

Maximum | Second Tranche | GEO

Reverse Capitalization [Line Items]

Contingent consideration

$ 35,000,000

Earnout Shares

Reverse Capitalization [Line Items]

Earn-out liability (in shares) | shares

10,000,000

Earnout period, threshold trading days (in trading days) | tradingDay

20

Earnout period, threshold consecutive trading days (in trading days) | tradingDay

30

Earn-out liability

$ 0

Milestone One, Earn Out

Reverse Capitalization [Line Items]

Earn-out liability (in shares) | shares

5,000,000

Milestone One, Earn Out | Minimum

Reverse Capitalization [Line Items]

Earn-out liability, price trigger (in dollars per share) | $ / shares

$ 12.50

Milestone One, Earn Out | Maximum

Reverse Capitalization [Line Items]

Earn-out liability, price trigger (in dollars per share) | $ / shares

$ 15

Milestone Two, Earn Out

Reverse Capitalization [Line Items]

Earn-out liability (in shares) | shares

5,000,000

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other expense
Derivative loss	$ (1,649)	$ (848)
Currency Forward Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative	$ 28,160	$ 12,325

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Hierarchy for Financial Assets and Liabilities (Details) - USD ($)	Dec. 31, 2024	Sep. 30, 2024	Jan. 25, 2024	Dec. 31, 2023	Sep. 18, 2023	May 31, 2021
Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations		$ 9,755,000			$ 13,225,000
GEO | Indemnity Holdback
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	$ 6,344,000			$ 12,704,000
First Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				9,593,000
First Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				44,709,000
First Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				2,740,000
First Tranche | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations						$ 456,000
Second Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	634,000			4,012,000
Second Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				25,921,000
Second Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				3,310,000
Second Tranche | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	500,000			940,000
Second Tranche | Symeo GmbH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				7,000
Kinetic
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration			$ 4,599,000
Kinetic | Indemnity Holdback
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration			$ 800,000
Kinetic | First Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	2,455,000
Kinetic | Second Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	1,908,000
Level 1 | GEO | Indemnity Holdback
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	6,344,000			12,704,000
Level 1 | First Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | First Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | First Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | Second Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 1 | Second Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | Second Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | Second Tranche | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 1 | Second Tranche | Symeo GmbH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 1 | Kinetic | First Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	0
Level 1 | Kinetic | Second Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	0
Level 2 | GEO | Indemnity Holdback
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 2 | First Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | First Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | First Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | Second Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 2 | Second Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | Second Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | Second Tranche | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 2 | Second Tranche | Symeo GmbH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				0
Level 2 | Kinetic | First Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	0
Level 2 | Kinetic | Second Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	0
Level 3 | GEO | Indemnity Holdback
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			0
Level 3 | First Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				9,593,000
Level 3 | First Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				44,709,000
Level 3 | First Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				2,740,000
Level 3 | Second Tranche | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	634,000			4,012,000
Level 3 | Second Tranche | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				25,921,000
Level 3 | Second Tranche | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	0			3,310,000
Level 3 | Second Tranche | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations	500,000			940,000
Level 3 | Second Tranche | Symeo GmbH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price — contingent considerations				$ 7,000
Level 3 | Kinetic | First Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	2,455,000
Level 3 | Kinetic | Second Tranche
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset acquisition, contingent consideration	$ 1,908,000

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Unobservable Input Reconciliation (Details) - Discounted cash flow	Dec. 31, 2024	Dec. 31, 2023
Contingent Consideration Tranche One | Discount rate | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.0746
Contingent Consideration Tranche One | Discount rate | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.1260
Contingent Consideration Tranche One | Discount rate | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.1079
Contingent Consideration Tranche One | Volatility | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.7500
Contingent Consideration Tranche One | Volatility | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.6000
Contingent Consideration Tranche One | Volatility | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.6000
Contingent Consideration Tranche One | Kinetic | Market yield rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.0734
Contingent Consideration Tranche One | Kinetic | Scenario probability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	1
Contingent Consideration Tranche Two | Discount rate | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.1020	0.0746
Contingent Consideration Tranche Two | Discount rate | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.1260
Contingent Consideration Tranche Two | Discount rate | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.1039	0.1079
Contingent Consideration Tranche Two | Discount rate | City Semi
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.1265	0.1265
Contingent Consideration Tranche Two | Discount rate | Symeo
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.0473
Contingent Consideration Tranche Two | Volatility | Exalos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.6000	0.7000
Contingent Consideration Tranche Two | Volatility | GEO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input		0.6000
Contingent Consideration Tranche Two | Volatility | Silicon Radar
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.6000	0.6000
Contingent Consideration Tranche Two | Kinetic | Market yield rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.0768
Contingent Consideration Tranche Two | Kinetic | Scenario probability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.7000

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands			1 Months Ended		12 Months Ended
	Nov. 29, 2022 USD ($) shares	Nov. 29, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Nov. 28, 2022	Nov. 16, 2022 USD ($)
Capital Unit [Line Items]
Captial contributions			$ 12,346,000	¥ 87,959		$ 12,346,000
Value of share repurchased							$ 7,404,000
Class A
Capital Unit [Line Items]
Share repurchase (in shares) | shares					0	0	1,112,524
Average cost per share (in dollars per share) | $ / shares							$ 6.65
Value of share repurchased							$ 7,404,000
Stock repurchase program, remaining authorized repurchase amount					$ 42,596,000
Maximum | Class A
Capital Unit [Line Items]
Stock repurchase authorized amount									$ 50,000,000
Maximum | Class A | 2027 Notes | Senior Notes
Capital Unit [Line Items]
Stock repurchase authorized amount									$ 25,000,000
Wuxi Long-Term Incentive Plan
Capital Unit [Line Items]
Award vesting period			6 years	6 years
Total unrecognized compensation cost related to profit interests			$ 11,802,000		$ 11,802,000	$ 11,802,000
Ay Dee Kay, LLC
Capital Unit [Line Items]
Ownership interest by noncontrolling owners					26%
Ownership percentage by parent			90%		91%	90%
Ay Dee Kay, LLC | Wuxi indie Microelectronics Ltd.
Capital Unit [Line Items]
Ownership interest by noncontrolling owners		38%						45%
Wuxi indie Microelectronics Ltd. | Ay Dee Kay, LLC
Capital Unit [Line Items]
Ownership interest by noncontrolling owners			34%		34%	34%
Ownership percentage by parent			59%		59%	59%
Wuxi indie Microelectronics Ltd. | Private Placement
Capital Unit [Line Items]
Total proceeds	$ 42,000,000	¥ 300,000
Number of shares issued in transaction (in shares) | shares	371,160	371,160
Percentage of ownership	16%	16%
Price per share of stock sold (in dollars per share) | ¥ / shares		¥ 808.28
Percentage of liquidation preference	100%	100%
Percentage of annual premium	8%	8%
Exchange of shares | shares	6,000,000	6,000,000

Noncontrolling Interest (Detail

Noncontrolling Interest (Details)	Jun. 10, 2021 vote shares	Dec. 31, 2024 shares	Dec. 31, 2023 shares
Common Stock Class V
Noncontrolling Interest [Line Items]
Conversion of common units into common stock (in shares)	33,827,371
Common stock, exchange ratio	1
Common stock, votes per share (in votes) | vote	1
Common stock, shares issued (in shares)		17,671,251	18,694,332
Common stock, shares outstanding (in shares)		17,671,251	18,694,332
Ay Dee Kay, LLC
Noncontrolling Interest [Line Items]
Ownership interest by noncontrolling owners		26%
Ownership percentage by parent		91%	90%
Wuxi indie Microelectronics Ltd. | Ay Dee Kay, LLC
Noncontrolling Interest [Line Items]
Ownership interest by noncontrolling owners		34%	34%
Ownership percentage by parent		59%	59%

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 216,682	$ 223,169	$ 110,797
United States
Disaggregation of Revenue [Line Items]
Total revenue	38,197	53,558	39,915
China
Disaggregation of Revenue [Line Items]
Total revenue	98,307	101,323	43,969
Europe
Disaggregation of Revenue [Line Items]
Total revenue	37,337	36,042	16,713
South Korea
Disaggregation of Revenue [Line Items]
Total revenue	15,211	18,768	3,728
Rest of North America
Disaggregation of Revenue [Line Items]
Total revenue	4,438	8,475	4,788
Rest of Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	21,245	2,949	204
South America
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,947	$ 2,054	$ 1,480

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 4,189
Largest customer | Accounts receivable | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	11%	19%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation (as a percent)	99%
Remaining performance obligation period	12 months
Contract revenue
Disaggregation of Revenue [Line Items]
Revenue recognized from previously recorded contract liabilities	$ 1,708	$ 1,734	$ 1,253

Revenue - Schedule of Contract

Revenue - Schedule of Contract Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled revenue	$ 9,154	$ 8,506
Contract liabilities	$ 2,735	$ 2,473

Revenue - Schedule of Customers

Revenue - Schedule of Customers Accounting for More Than 10% of Total Revenue (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Customer A | Total Revenue | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	9.30%	14.80%	36.90%

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)

1 Months Ended

10 Months Ended

12 Months Ended

Jun. 13, 2024 shares

Jul. 01, 2023

Jun. 21, 2023 shares

Jun. 22, 2022 shares

Oct. 12, 2021 shares

Jun. 10, 2021 shares

Jan. 29, 2021 $ / shares shares

Oct. 31, 2021 USD ($)

Dec. 09, 2021 shares

Dec. 31, 2024 USD ($) $ / shares shares

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2022 USD ($) $ / shares shares

Mar. 22, 2023 shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock compensation expense | $

$ 67,240,000

$ 43,710,000

$ 41,885,000

Recapitalization exchange ratio

27.80

TeraXion

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options assumed (in shares)

1,542,332

TeraXion | Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase price - equity consideration | $

$ 17,249,000

Profit Interest

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock compensation expense | $

$ 0

Award vesting period

4 years

Award expiration period

10 years

Weighted-average grant date fair value (in dollars per share) | $ / shares

$ 6.08

$ 6.12

Vested (in shares)

7,565,367

4,630,999

Grant date fair value (in dollars per share) | $ / shares

$ 7.09

$ 6.80

$ 8.52

Total unrecognized compensation cost related to profit interests | $

$ 61,635,000

Weighted average remaining vesting period

1 year 9 months 18 days

Nonvested profit interest (in shares)

14,826,846

13,652,946

9,250,357

Profit Interest | One year milestone

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

12 months

Vesting percentage

25%

Profit Interest | Remaining three years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

3 years

Vesting percentage

75%

Unvested Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock compensation expense | $

$ 0

Award vesting period

4 years

Weighted-average grant date fair value (in dollars per share) | $ / shares

$ 6.83

Vested (in shares)

0

Unvested Restricted stock units | One year milestone

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

12 months

Vesting percentage

25%

Unvested Restricted stock units | Remaining three years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

3 years

Vesting percentage

75%

Unvested Earn-out Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value | $

$ 3,919,000

Grant date fair value (in dollars per share) | $ / shares

$ 9.20

2023 Employment Inducement Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average grant date fair value (in dollars per share) | $ / shares

$ 6.16

$ 9.04

Vested (in shares)

548,986

97,510

Grant date fair value (in dollars per share) | $ / shares

$ 7.48

$ 8.97

$ 0

Total unrecognized compensation cost related to profit interests | $

$ 10,024,000

Weighted average remaining vesting period

2 years 3 months 18 days

Granted (in shares)

0

0

Nonvested profit interest (in shares)

1,867,316

1,614,463

0

Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total unrecognized compensation cost related to profit interests | $

$ 446,000

Weighted average remaining vesting period

1 year

Option | TeraXion

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award expiration period

10 years

Class A | Profit Interest

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of units authorized (in shares)

14,284,919

Class A | Unvested Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of units authorized (in shares)

1,751,360

Common Units | Profit Interest

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of units authorized (in shares)

513,846

Common Units | Unvested Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of units authorized (in shares)

62,998

2021 Omnibus Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional units authorized (in shares)

10,500,000

10,368,750

Number of units authorized (in shares)

20,868,750

Number of units available for grant(in shares)

4,851,844

Maximum percentage of cash retainer quarterly fully vested stock award

100%

Stock compensation expense | $

$ 19,789,000

$ 4,099,000

Granted (in shares)

0

0

Granted (in dollars per share) | $ / shares

$ 0

$ 0

Sharebased compensation arrangement by sharebased payment award options exercises in period total intrinsic value | $

$ 0

$ 0

2021 Omnibus Equity Incentive Plan | Unvested Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

4 years

2021 Omnibus Equity Incentive Plan | Section 16 Officers

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Deferred compensation maximum percent of cash salary received in stock

50%

2021 Omnibus Equity Incentive Plan | Non-Section 16 Officers

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Deferred compensation maximum percent of cash salary received in stock

25%

Cash to stock exchange ratio

115%

2021 Omnibus Equity Incentive Plan | Class A

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional units authorized (in shares)

7,000,000

7,000,000

Number of units authorized (in shares)

34,868,750

34,868,750

2023 Employment Inducement Award Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional units authorized (in shares)

4,000,000

Sharebased compensation arrangement by sharebased payment award options exercises in period total intrinsic value | $

$ 0

0

2023 Employment Inducement Award Plan | Unvested Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

4 years

2023 Employment Inducement Award Plan | Class A

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of units authorized (in shares)

6,000,000

2,000,000

Number of units available for grant(in shares)

3,486,188

Stock compensation expense | $

$ 5,787,000

3,730,000

2022 Omnibus Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock compensation expense | $

$ 0

$ 0

$ 6,600,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of the Components of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 67,240	$ 43,710	$ 41,885
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	985	363	149
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	43,449	25,750	28,325
Selling, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	22,375	17,597	13,411
Restructuring costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 431	$ 0	$ 0

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Profit Interest Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Profit Interest
Profit interest activity
Beginning balance, Nonvested profit interest (in shares)	13,652,946	9,250,357
Granted (in shares)	10,449,306	9,932,545
Vested (in shares)	(7,565,367)	(4,630,999)
Forfeited (in shares)	(1,710,039)	(898,957)
Ending balance, Nonvested profit interest (in shares)	14,826,846	13,652,946
Weighted Average Grant Date Fair Value
Beginning balance, weighted-average grant date fair value (in dollars per share)	$ 6.80	$ 8.52
Granted (in dollars per share)	6.08	6.12
Vested (in dollars per share)	6.76	8.40
Forfeited (in dollars per share)	7.23	8.26
Ending balance, weighted-average grant date fair value (in dollars per share)	$ 7.09	$ 6.80
Shares Retained to Cover Statutory Minimum Withholding Taxes
Vested and retained (in shares)	0	0
2023 Employment Inducement Incentive Plan
Profit interest activity
Beginning balance, Nonvested profit interest (in shares)	1,614,463	0
Granted (in shares)	1,071,639	1,840,023
Vested (in shares)	(548,986)	(97,510)
Forfeited (in shares)	(269,800)	(128,050)
Ending balance, Nonvested profit interest (in shares)	1,867,316	1,614,463
Weighted Average Grant Date Fair Value
Beginning balance, weighted-average grant date fair value (in dollars per share)	$ 8.97	$ 0
Granted (in dollars per share)	6.16	9.04
Vested (in dollars per share)	8.75	9.53
Forfeited (in dollars per share)	9.23	9.53
Ending balance, weighted-average grant date fair value (in dollars per share)	$ 7.48	$ 8.97
Shares Retained to Cover Statutory Minimum Withholding Taxes
Vested and retained (in shares)	0	0

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Changes in Outstanding Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
2021 Omnibus Equity Incentive Plan
Options
Beginning balance (in shares)	318,208	368,875
Granted (in shares)	0	0
Exercised (in shares)	0	0
Forfeited or expired (in shares)	(17,743)	(50,667)
Ending balance (in shares)	300,465	318,208	368,875
Exercisable (in shares)	150,225
Vested or expected to vest (in shares)	150,225
Weighted-average exercise price
Beginning balance (in dollars per share)	$ 10.58	$ 10.74
Granted (in dollars per share)	0	0
Exercised (in dollars per share)	0	0
Forfeited or expired (in dollars per share)	6.60	11.69
Ending balance (in dollars per share)	10.82	$ 10.58	$ 10.74
Exercisable (in dollars per share)	10.82
Vested or expected to vest (in dollars per share)	$ 10.82
Additional disclosures
Outstanding, weighted average remaining contractual term (years)	7 years 21 days	8 years 29 days	9 years 25 days
Exercisable, weighted average remaining contractual term (years)	7 years 21 days
Vested and expected to vest, weighted average remaining contractual term (years)	7 years 21 days
Outstanding, aggregate intrinsic value	$ 0	$ 0	$ 0
Exercisable, aggregate intrinsic value	0
Vested or expected to vest, aggregate intrinsic value	$ 0
TeraXion Option Plan
Options
Beginning balance (in shares)	924,680	1,214,044
Exercised (in shares)	(297,017)	(289,364)
Forfeited or expired (in shares)	0	0
Ending balance (in shares)	627,663	924,680	1,214,044
Exercisable (in shares)	627,663
Vested or expected to vest (in shares)	627,663
Weighted-average exercise price
Beginning balance (in dollars per share)	$ 0.17	$ 0.16
Exercised (in dollars per share)	0.18	0.11
Forfeited or expired (in dollars per share)	0	0
Ending balance (in dollars per share)	0.16	$ 0.17	$ 0.16
Exercisable (in dollars per share)	0.16
Vested or expected to vest (in dollars per share)	$ 0.16
Additional disclosures
Outstanding, weighted average remaining contractual term (years)	2 years 9 months 21 days	3 years 9 months 25 days	4 years 10 months 17 days
Exercisable, weighted average remaining contractual term (years)	2 years 9 months 21 days
Vested and expected to vest, weighted average remaining contractual term (years)	2 years 9 months 21 days
Outstanding, aggregate intrinsic value	$ 2,470	$ 7,343	$ 6,889
Exercisable, aggregate intrinsic value	2,470
Vested or expected to vest, aggregate intrinsic value	$ 2,470

Net Loss per Common Share - Sch

Net Loss per Common Share - Schedule of Basic and Diluted Net Loss Per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (144,187)	$ (128,832)	$ (52,788)
Less: Net loss attributable to noncontrolling interest	(11,584)	(11,207)	(9,388)
Net loss attributable to common stockholders — basic	(132,603)	(117,625)	(43,400)
Net loss attributable to common shares — dilutive	$ (132,603)	$ (117,625)	$ (43,400)
Denominator:
Weighted average shares outstanding - basic (in shares)	175,029,650	145,188,867	118,660,785
Weighted average common shares outstanding - diluted (in shares)	175,029,650	145,188,867	118,660,785
Net loss per share attributable to common shares - basic (in dollars per share)	$ (0.76)	$ (0.81)	$ (0.37)
Net loss per share attributable to common shares - diluted (in dollars per share)	$ (0.76)	$ (0.81)	$ (0.37)

Net Loss per Common Share - S_2

Net Loss per Common Share - Schedule of Antidilutive Units Excluded from Computation of Net Loss Per Unit (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	102,261,971	59,407,604	83,602,949
Unvested Class B units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	0	61,683	746,294
Unvested Phantom units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	0	290,138	647,028
Unvested Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	16,694,162	14,915,588	7,857,035
Convertible Class V common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	17,671,251	18,694,332	21,381,476
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	0	0	17,250,000
Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	0	0	10,150,000
Unexercised options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	150,240	223,753	349,006
Earn-out Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	5,000,000	5,000,000	5,000,000
Escrow Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	1,725,000	1,725,000	1,725,000
2027 convertible notes into Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	18,497,110	18,497,110	18,497,110
2029 convertible notes into Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities excluded from the calculation of net loss per unit (in shares)	42,524,208	0	0

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ (144,808)	$ (140,371)	$ (49,948)
Foreign	(1,301)	7,005	(3,875)
Net loss before income taxes	$ (146,109)	$ (133,366)	$ (53,823)

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current expense:
Federal	$ 41	$ 96	$ 0
State	69	23	224
Foreign	1,886	766	818
Total current expense:	1,996	885	1,042
Deferred expense:
Federal	(4)	(2,000)	0
State	(5)	(5)	0
Foreign	(3,909)	(3,414)	(2,077)
Total deferred benefit:	(3,918)	(5,419)	(2,077)
Total income tax benefit	$ (1,922)	$ (4,534)	$ (1,035)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Investment in Ay Dee Kay, LLC	$ 58,005	$ 44,922
Net operating loss (“NOL”) carryforwards	68,102	57,289
Tax credits	6,789	5,374
Other deferred tax assets	9,696	6,015
Total deferred tax assets before valuation allowance	142,592	113,600
Valuation allowance	(137,444)	(109,701)	$ (70,040)
Deferred tax assets – net of valuation allowance	5,148	3,899
Other deferred tax liabilities	(1,149)	(1,214)
Intangibles	(15,659)	(16,381)
Total deferred tax liabilities	(16,808)	(17,595)
Net deferred tax liabilities	$ (11,660)	$ (13,696)

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Changes in the Valuation Allowance for Deferred Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Beginning balance	$ 109,701	$ 70,040
Increases recorded to tax provision	27,743	15,244
Increases recorded to goodwill	0	26,040
Decreases recorded as a benefit to income tax provision	0	(1,623)
Ending balance	$ 137,444	$ 109,701

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Net operating loss (“NOL”) carryforwards	$ 68,102,000	$ 57,289,000
Decreases recorded as a benefit to income tax provision	0	$ (1,623,000)
Uncertain tax position	0
Accrued interest or penalties	0
Unrecognized tax benefits, related expenses	$ 0
TRA, percent of cash tax savings	85%
Federal
Income Tax Contingency [Line Items]
Net operating loss (“NOL”) carryforwards	$ 67,268,000
Operating loss carryforwards	299,504,000
State
Income Tax Contingency [Line Items]
Operating loss carryforwards	9,080,000
Foreign | China
Income Tax Contingency [Line Items]
Operating loss carryforwards	1,186,000
Foreign | Germany
Income Tax Contingency [Line Items]
Operating loss carryforwards	6,234,000
Foreign | Canada
Income Tax Contingency [Line Items]
Operating loss carryforwards	1,363,000
Foreign | Canadian Provinces
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 3,001,000

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at January 1st	$ 696	$ 0	$ 0
Additions for purchase accounting	0	696	0
Balance at December 31st	$ 696	$ 696	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax provision at U.S. statutory federal rate	$ (30,683)	$ (27,721)	$ (11,286)
State income tax provision, net of federal income tax effect	389	(1,216)	(5)
Foreign rate differential	(1,571)	(2,445)	(250)
Noncontrolling interest	2,965	4,858	1,844
Change in valuation allowance	24,358	19,511	6,728
Section 162(m) addback on executive compensation	0	565	542
GILTI inclusion, net	4,102	2,881	1,301
Other	(1,482)	(967)	91
Total income tax benefit	$ (1,922)	$ (4,534)	$ (1,035)

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands

1 Months Ended

6 Months Ended

12 Months Ended

Aug. 31, 2024 USD ($)

Mar. 31, 2024 USD ($)

Sep. 30, 2023 USD ($)

Aug. 31, 2023 USD ($)

Apr. 30, 2023 USD ($)

Nov. 30, 2022 USD ($)

Oct. 31, 2021 USD ($)

May 31, 2021 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2024 USD ($) ft²

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Feb. 29, 2024

Other Commitments [Line Items]

Asset impairment in relation to restructuring

$ 116

$ 882

$ 998

$ 0

$ 0

Corporate and Manufacturing Facilities

Other Commitments [Line Items]

Term of option to extend

5 years

5 years

Aliso Viejo Headquarters

Other Commitments [Line Items]

Lease term

6 years

6 years

Security deposit

$ 30

$ 30

Additional square footage of leased space (in square feet) | ft²

18,000

Monthly rent

$ 42

Austin, Texas Design Center

Other Commitments [Line Items]

Lease term

5 years

10 years

5 years

Monthly rent

$ 14

$ 11

$ 14

Detroit, Michigan

Other Commitments [Line Items]

Lease term

7 years

Monthly rent

$ 24

San Jose, California

Other Commitments [Line Items]

Lease term

6 years

1 year

Security deposit

$ 210

Monthly rent

$ 91

$ 69

Scotland Design Center Facility

Other Commitments [Line Items]

Lease term

5 years

5 years

Monthly rent

$ 17

Haifa, Israel

Other Commitments [Line Items]

Lease term

3 years

Monthly rent

$ 14

TeraXion Office Building

Other Commitments [Line Items]

Monthly rent

$ 53

Shanghai, China

Other Commitments [Line Items]

Monthly rent

$ 14

Suzhou, China

Other Commitments [Line Items]

Lease term

3 years

Monthly rent

$ 6

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheet Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Operating lease right-of-use assets	$ 16,107	$ 13,790
Liabilities
Operating lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating lease liabilities (current)	$ 2,984	$ 2,653
Operating lease liability, non-current	14,278	10,850
Total lease liabilities	$ 17,262	$ 13,503

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 4,237	$ 3,406	$ 2,496
Short-term lease cost	0	17	124
Variable lease cost	473	179	174
Total lease cost	$ 4,710	$ 3,602	$ 2,794

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow and Balance Sheet Reconcilation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,888	$ 3,175
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 5,172	$ 3,240
Weighted average remaining lease term — operating leases	5 years 4 months 13 days	6 years 21 days
Weighted average discount rate — operating leases	6.47%	5.99%

Leases - Schedule of Future Lea

Leases - Schedule of Future Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 3,994
2026	3,889
2027	3,806
2028	3,464
2027	2,459
Thereafter	2,821
Total minimum lease payments	20,433
Less imputed interest	(3,171)
Total lease liabilities	17,262	$ 13,503
Operating lease liabilities (current)	(2,984)	(2,653)
Long-term lease obligations	$ 14,278	$ 10,850

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Royalty expense	$ 2,325,000	$ 3,808,000	$ 1,305,000
Accrued royalties	658,000	789,000
Distributed earnings	$ 0	$ 0

Supplemental Financial Inform_3

Supplemental Financial Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Holdbacks and deferred payments for business combination	$ 7,050	$ 4,339
Accrued taxes	3,113	1,672
Operating lease liabilities, current	2,984	2,653
Deferred revenue	2,735	2,473
Issuance costs 2029 Convertible Debt	1,789	0
Accrued interest	1,679	1,120
Accrued royalties	658	789
Other	9,289	8,365
Accrued expenses and other current liabilities	$ 29,297	$ 21,411

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	$ 34,282	$ 26,966
United States
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	13,640	9,765
Canada
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	3,657	4,752
Germany
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	6,585	4,790
China
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	6,882	4,437
Israel
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	1,095	1,457
Switzerland
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	1,826	1,041
Rest of world
Segment Reporting, Asset Reconciling Item [Line Items]
Property and equipment, net	$ 597	$ 724

Segment Reporting (Details)

Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	1