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Side-by-side financial comparison of American Well Corp (AMWL) 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 $55.3M, roughly 1.0× American Well Corp). American Well Corp runs the higher net margin — -45.1% vs -53.8%, a 8.8% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -22.1%). indie Semiconductor, Inc. produced more free cash flow last quarter ($-16.1M vs $-17.4M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -3.6%).
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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.
AMWL vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.3M | $58.0M |
| Net Profit | $-24.9M | $-31.2M |
| Gross Margin | — | 37.3% |
| Operating Margin | -45.5% | -58.5% |
| Net Margin | -45.1% | -53.8% |
| Revenue YoY | -22.1% | -0.0% |
| Net Profit YoY | 41.6% | 9.1% |
| EPS (diluted) | $-1.53 | $-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 | $55.3M | $58.0M | ||
| Q3 25 | $56.3M | $53.7M | ||
| Q2 25 | $70.9M | $51.6M | ||
| Q1 25 | $66.8M | $54.1M | ||
| Q4 24 | $71.0M | $58.0M | ||
| Q3 24 | $61.0M | $54.0M | ||
| Q2 24 | $62.8M | $52.4M | ||
| Q1 24 | $59.5M | $52.4M |
| Q4 25 | $-24.9M | $-31.2M | ||
| Q3 25 | $-32.4M | $-38.3M | ||
| Q2 25 | $-19.7M | $-39.0M | ||
| Q1 25 | $-18.7M | $-34.5M | ||
| Q4 24 | $-42.7M | $-34.4M | ||
| Q3 24 | $-43.5M | $-49.7M | ||
| Q2 24 | $-49.9M | $-19.2M | ||
| Q1 24 | $-72.1M | $-31.2M |
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% | ||
| Q1 24 | — | 42.5% |
| Q4 25 | -45.5% | -58.5% | ||
| Q3 25 | -52.1% | -71.4% | ||
| Q2 25 | -28.7% | -83.3% | ||
| Q1 25 | -45.5% | -72.0% | ||
| Q4 24 | -60.2% | -58.4% | ||
| Q3 24 | -77.6% | -92.5% | ||
| Q2 24 | -83.4% | -70.0% | ||
| Q1 24 | -126.1% | -94.8% |
| Q4 25 | -45.1% | -53.8% | ||
| Q3 25 | -57.5% | -71.3% | ||
| Q2 25 | -27.8% | -75.6% | ||
| Q1 25 | -28.0% | -63.9% | ||
| Q4 24 | -60.1% | -59.2% | ||
| Q3 24 | -71.2% | -92.1% | ||
| Q2 24 | -79.5% | -36.6% | ||
| Q1 24 | -121.1% | -59.6% |
| Q4 25 | $-1.53 | $-0.16 | ||
| Q3 25 | $-2.00 | $-0.19 | ||
| Q2 25 | $-1.24 | $-0.20 | ||
| Q1 25 | $-1.19 | $-0.18 | ||
| Q4 24 | $-2.71 | $-0.18 | ||
| Q3 24 | $-2.87 | $-0.28 | ||
| Q2 24 | $-3.36 | $-0.11 | ||
| Q1 24 | $-4.94 | $-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 | $182.3M | $145.5M |
| Total DebtLower is stronger | — | $353.4M |
| Stockholders' EquityBook value | $235.6M | $358.0M |
| Total Assets | $323.8M | $840.8M |
| Debt / EquityLower = less leverage | — | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $182.3M | $145.5M | ||
| Q3 25 | $200.9M | $160.9M | ||
| Q2 25 | $219.1M | $192.6M | ||
| Q1 25 | $222.4M | $236.6M | ||
| Q4 24 | $228.3M | $274.2M | ||
| Q3 24 | $244.6M | $96.9M | ||
| Q2 24 | $276.9M | $112.3M | ||
| Q1 24 | $308.6M | $138.2M |
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $235.6M | $358.0M | ||
| Q3 25 | $254.9M | $369.2M | ||
| Q2 25 | $282.6M | $390.4M | ||
| Q1 25 | $294.0M | $405.6M | ||
| Q4 24 | $304.8M | $417.9M | ||
| Q3 24 | $336.7M | $458.6M | ||
| Q2 24 | $363.9M | $470.7M | ||
| Q1 24 | $408.7M | $432.9M |
| Q4 25 | $323.8M | $840.8M | ||
| Q3 25 | $359.4M | $855.1M | ||
| Q2 25 | $388.7M | $867.6M | ||
| Q1 25 | $419.5M | $909.0M | ||
| Q4 24 | $436.0M | $941.4M | ||
| Q3 24 | $483.0M | $797.5M | ||
| Q2 24 | $507.8M | $797.3M | ||
| Q1 24 | $548.4M | $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 | $-17.4M | $-14.4M |
| Free Cash FlowOCF − Capex | $-17.4M | $-16.1M |
| FCF MarginFCF / Revenue | -31.4% | -27.8% |
| Capex IntensityCapex / Revenue | 0.0% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-17.4M | $-14.4M | ||
| Q3 25 | $-18.8M | $-6.2M | ||
| Q2 25 | $-4.7M | $-7.6M | ||
| Q1 25 | $-25.1M | $-29.0M | ||
| Q4 24 | $-13.4M | $-6.7M | ||
| Q3 24 | $-32.4M | $-22.8M | ||
| Q2 24 | $-21.8M | $-19.7M | ||
| Q1 24 | $-59.8M | $-9.3M |
| Q4 25 | $-17.4M | $-16.1M | ||
| Q3 25 | — | $-10.3M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | $-25.1M | $-31.4M | ||
| Q4 24 | $-13.4M | $-8.6M | ||
| Q3 24 | $-32.4M | $-29.3M | ||
| Q2 24 | $-21.8M | $-23.4M | ||
| Q1 24 | $-59.8M | $-11.7M |
| Q4 25 | -31.4% | -27.8% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | -26.4% | ||
| Q1 25 | -37.6% | -58.0% | ||
| Q4 24 | -18.9% | -14.8% | ||
| Q3 24 | -53.0% | -54.3% | ||
| Q2 24 | -34.7% | -44.7% | ||
| Q1 24 | -100.5% | -22.3% |
| Q4 25 | 0.0% | 3.0% | ||
| Q3 25 | 0.0% | 7.8% | ||
| Q2 25 | 0.0% | 11.6% | ||
| Q1 25 | 0.0% | 4.4% | ||
| Q4 24 | 0.0% | 3.2% | ||
| Q3 24 | 0.0% | 12.1% | ||
| Q2 24 | 0.0% | 7.0% | ||
| Q1 24 | 0.1% | 4.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMWL
| Platform Subscription | $28.8M | 52% |
| Visits | $23.7M | 43% |
| Others | $2.8M | 5% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
