Shares declined 4.2% following the earnings release, reflecting investor disappointment with a cautious demand outlook and ongoing margin pressures despite modest revenue growth.

• Revenue totaled $55.5 million, slightly above guidance midpoint and up 3% year-over-year.
• Market demand remains cautious with global vehicle production range-bound; channel inventories normalizing but macro headwinds persist.
• Margins appeared pressured due to elevated logistics costs and supply chain constraints impacting peers and Indie alike.
• Encouraging progress in product ramps: Gen 8 radar $25 million production order confirmed; Vision processor iND880 entered production with NIO and other OEMs.
• Growth opportunities in quantum technology and robotics highlighted, but near-term outlook remains conservative reflecting geopolitical and supply challenges.