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Side-by-side financial comparison of AEMETIS, INC (AMTX) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $43.3M, roughly 1.3× AEMETIS, INC). On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -7.9%). AEMETIS, INC produced more free cash flow last quarter ($-10.8M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
AMTX vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $58.0M |
| Net Profit | — | $-31.2M |
| Gross Margin | 17.8% | 37.3% |
| Operating Margin | -5.7% | -58.5% |
| Net Margin | — | -53.8% |
| Revenue YoY | -7.9% | -0.0% |
| Net Profit YoY | — | 9.1% |
| EPS (diluted) | $-0.03 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.3M | $58.0M | ||
| Q3 25 | $59.2M | $53.7M | ||
| Q2 25 | $52.2M | $51.6M | ||
| Q1 25 | $42.9M | $54.1M | ||
| Q4 24 | $47.0M | $58.0M | ||
| Q3 24 | $81.4M | $54.0M | ||
| Q2 24 | $66.6M | $52.4M | ||
| Q1 24 | $72.6M | $52.4M |
| Q4 25 | — | $-31.2M | ||
| Q3 25 | $-23.7M | $-38.3M | ||
| Q2 25 | $-23.4M | $-39.0M | ||
| Q1 25 | $-24.5M | $-34.5M | ||
| Q4 24 | — | $-34.4M | ||
| Q3 24 | $-17.9M | $-49.7M | ||
| Q2 24 | $-29.2M | $-19.2M | ||
| Q1 24 | $-24.2M | $-31.2M |
| Q4 25 | 17.8% | 37.3% | ||
| Q3 25 | -0.1% | 40.1% | ||
| Q2 25 | -6.4% | 40.6% | ||
| Q1 25 | -11.8% | 41.7% | ||
| Q4 24 | -4.3% | 42.6% | ||
| Q3 24 | 4.8% | 39.3% | ||
| Q2 24 | -2.7% | 42.2% | ||
| Q1 24 | -0.8% | 42.5% |
| Q4 25 | -5.7% | -58.5% | ||
| Q3 25 | -14.4% | -71.4% | ||
| Q2 25 | -20.4% | -83.3% | ||
| Q1 25 | -36.3% | -72.0% | ||
| Q4 24 | -28.7% | -58.4% | ||
| Q3 24 | -4.8% | -92.5% | ||
| Q2 24 | -20.4% | -70.0% | ||
| Q1 24 | -13.0% | -94.8% |
| Q4 25 | — | -53.8% | ||
| Q3 25 | -40.1% | -71.3% | ||
| Q2 25 | -44.8% | -75.6% | ||
| Q1 25 | -57.2% | -63.9% | ||
| Q4 24 | — | -59.2% | ||
| Q3 24 | -22.0% | -92.1% | ||
| Q2 24 | -43.8% | -36.6% | ||
| Q1 24 | -33.4% | -59.6% |
| Q4 25 | $-0.03 | $-0.16 | ||
| Q3 25 | $-0.37 | $-0.19 | ||
| Q2 25 | $-0.41 | $-0.20 | ||
| Q1 25 | $-0.47 | $-0.18 | ||
| Q4 24 | $-0.29 | $-0.18 | ||
| Q3 24 | $-0.38 | $-0.28 | ||
| Q2 24 | $-0.66 | $-0.11 | ||
| Q1 24 | $-0.58 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $145.5M |
| Total DebtLower is stronger | — | $353.4M |
| Stockholders' EquityBook value | $-306.8M | $358.0M |
| Total Assets | $259.8M | $840.8M |
| Debt / EquityLower = less leverage | — | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $145.5M | ||
| Q3 25 | $5.6M | $160.9M | ||
| Q2 25 | $1.6M | $192.6M | ||
| Q1 25 | $499.0K | $236.6M | ||
| Q4 24 | $898.0K | $274.2M | ||
| Q3 24 | $296.0K | $96.9M | ||
| Q2 24 | $234.0K | $112.3M | ||
| Q1 24 | $1.6M | $138.2M |
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | $338.1M | $381.3M | ||
| Q3 24 | $322.2M | — | ||
| Q2 24 | $309.0M | — | ||
| Q1 24 | $307.2M | — |
| Q4 25 | $-306.8M | $358.0M | ||
| Q3 25 | $-304.9M | $369.2M | ||
| Q2 25 | $-289.3M | $390.4M | ||
| Q1 25 | $-280.7M | $405.6M | ||
| Q4 24 | $-263.9M | $417.9M | ||
| Q3 24 | $-258.9M | $458.6M | ||
| Q2 24 | $-249.0M | $470.7M | ||
| Q1 24 | $-232.1M | $432.9M |
| Q4 25 | $259.8M | $840.8M | ||
| Q3 25 | $241.1M | $855.1M | ||
| Q2 25 | $240.0M | $867.6M | ||
| Q1 25 | $242.5M | $909.0M | ||
| Q4 24 | $259.3M | $941.4M | ||
| Q3 24 | $259.3M | $797.5M | ||
| Q2 24 | $259.3M | $797.3M | ||
| Q1 24 | $259.3M | $803.6M |
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.8M | $-14.4M |
| Free Cash FlowOCF − Capex | $-10.8M | $-16.1M |
| FCF MarginFCF / Revenue | -24.9% | -27.8% |
| Capex IntensityCapex / Revenue | 38.2% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $-14.4M | ||
| Q3 25 | $3.1M | $-6.2M | ||
| Q2 25 | $-5.7M | $-7.6M | ||
| Q1 25 | $160.0K | $-29.0M | ||
| Q4 24 | $-12.6M | $-6.7M | ||
| Q3 24 | $-5.0M | $-22.8M | ||
| Q2 24 | $-5.1M | $-19.7M | ||
| Q1 24 | $-10.3M | $-9.3M |
| Q4 25 | $-10.8M | $-16.1M | ||
| Q3 25 | $-1.0M | $-10.3M | ||
| Q2 25 | $-9.3M | $-13.6M | ||
| Q1 25 | $-1.7M | $-31.4M | ||
| Q4 24 | $-19.4M | $-8.6M | ||
| Q3 24 | $-9.5M | $-29.3M | ||
| Q2 24 | $-10.5M | $-23.4M | ||
| Q1 24 | $-13.9M | $-11.7M |
| Q4 25 | -24.9% | -27.8% | ||
| Q3 25 | -1.7% | -19.2% | ||
| Q2 25 | -17.7% | -26.4% | ||
| Q1 25 | -3.9% | -58.0% | ||
| Q4 24 | -41.2% | -14.8% | ||
| Q3 24 | -11.6% | -54.3% | ||
| Q2 24 | -15.8% | -44.7% | ||
| Q1 24 | -19.1% | -22.3% |
| Q4 25 | 38.2% | 3.0% | ||
| Q3 25 | 6.9% | 7.8% | ||
| Q2 25 | 6.7% | 11.6% | ||
| Q1 25 | 4.3% | 4.4% | ||
| Q4 24 | 14.4% | 3.2% | ||
| Q3 24 | 5.5% | 12.1% | ||
| Q2 24 | 8.1% | 7.0% | ||
| Q1 24 | 4.9% | 4.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
