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Side-by-side financial comparison of Clarus Corp (CLAR) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
Clarus Corp is the larger business by last-quarter revenue ($65.4M vs $58.0M, roughly 1.1× indie Semiconductor, Inc.). Clarus Corp runs the higher net margin — -47.8% vs -53.8%, a 6.0% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
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.
CLAR vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $58.0M |
| Net Profit | $-31.3M | $-31.2M |
| Gross Margin | 27.7% | 37.3% |
| Operating Margin | -59.6% | -58.5% |
| Net Margin | -47.8% | -53.8% |
| Revenue YoY | -8.4% | -0.0% |
| Net Profit YoY | 52.3% | 9.1% |
| EPS (diluted) | $-0.81 | $-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 | $65.4M | $58.0M | ||
| Q3 25 | $69.3M | $53.7M | ||
| Q2 25 | $55.2M | $51.6M | ||
| Q1 25 | $60.4M | $54.1M | ||
| Q4 24 | $71.4M | $58.0M | ||
| Q3 24 | $67.1M | $54.0M | ||
| Q2 24 | $56.5M | $52.4M | ||
| Q1 24 | $69.3M | $52.4M |
| Q4 25 | $-31.3M | $-31.2M | ||
| Q3 25 | $-1.6M | $-38.3M | ||
| Q2 25 | $-8.4M | $-39.0M | ||
| Q1 25 | $-5.2M | $-34.5M | ||
| Q4 24 | $-65.5M | $-34.4M | ||
| Q3 24 | $-3.2M | $-49.7M | ||
| Q2 24 | $-5.5M | $-19.2M | ||
| Q1 24 | $21.9M | $-31.2M |
| Q4 25 | 27.7% | 37.3% | ||
| Q3 25 | 35.1% | 40.1% | ||
| Q2 25 | 35.6% | 40.6% | ||
| Q1 25 | 34.4% | 41.7% | ||
| Q4 24 | 33.4% | 42.6% | ||
| Q3 24 | 35.0% | 39.3% | ||
| Q2 24 | 36.1% | 42.2% | ||
| Q1 24 | 35.9% | 42.5% |
| Q4 25 | -59.6% | -58.5% | ||
| Q3 25 | -4.4% | -71.4% | ||
| Q2 25 | -19.7% | -83.3% | ||
| Q1 25 | -11.2% | -72.0% | ||
| Q4 24 | -70.2% | -58.4% | ||
| Q3 24 | -8.0% | -92.5% | ||
| Q2 24 | -14.4% | -70.0% | ||
| Q1 24 | -9.8% | -94.8% |
| Q4 25 | -47.8% | -53.8% | ||
| Q3 25 | -2.3% | -71.3% | ||
| Q2 25 | -15.3% | -75.6% | ||
| Q1 25 | -8.7% | -63.9% | ||
| Q4 24 | -91.8% | -59.2% | ||
| Q3 24 | -4.7% | -92.1% | ||
| Q2 24 | -9.7% | -36.6% | ||
| Q1 24 | 31.6% | -59.6% |
| Q4 25 | $-0.81 | $-0.16 | ||
| Q3 25 | $-0.04 | $-0.19 | ||
| Q2 25 | $-0.22 | $-0.20 | ||
| Q1 25 | $-0.14 | $-0.18 | ||
| Q4 24 | $-1.72 | $-0.18 | ||
| Q3 24 | $-0.08 | $-0.28 | ||
| Q2 24 | $-0.14 | $-0.11 | ||
| Q1 24 | $0.57 | $-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 | $36.7M | $145.5M |
| Total DebtLower is stronger | $0 | $353.4M |
| Stockholders' EquityBook value | $196.4M | $358.0M |
| Total Assets | $249.0M | $840.8M |
| Debt / EquityLower = less leverage | 0.00× | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $145.5M | ||
| Q3 25 | $29.5M | $160.9M | ||
| Q2 25 | $28.5M | $192.6M | ||
| Q1 25 | $41.3M | $236.6M | ||
| Q4 24 | $45.4M | $274.2M | ||
| Q3 24 | $36.4M | $96.9M | ||
| Q2 24 | $46.2M | $112.3M | ||
| Q1 24 | $47.5M | $138.2M |
| Q4 25 | $0 | $353.4M | ||
| Q3 25 | $2.0M | $353.5M | ||
| Q2 25 | $1.9M | $352.5M | ||
| Q1 25 | $1.9M | $379.0M | ||
| Q4 24 | $1.9M | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $37.0K | — |
| Q4 25 | $196.4M | $358.0M | ||
| Q3 25 | $225.8M | $369.2M | ||
| Q2 25 | $225.1M | $390.4M | ||
| Q1 25 | $229.3M | $405.6M | ||
| Q4 24 | $233.1M | $417.9M | ||
| Q3 24 | $308.5M | $458.6M | ||
| Q2 24 | $307.3M | $470.7M | ||
| Q1 24 | $310.4M | $432.9M |
| Q4 25 | $249.0M | $840.8M | ||
| Q3 25 | $283.1M | $855.1M | ||
| Q2 25 | $286.5M | $867.6M | ||
| Q1 25 | $292.8M | $909.0M | ||
| Q4 24 | $294.1M | $941.4M | ||
| Q3 24 | $375.3M | $797.5M | ||
| Q2 24 | $369.4M | $797.3M | ||
| Q1 24 | $377.0M | $803.6M |
| Q4 25 | 0.00× | 0.99× | ||
| Q3 25 | 0.01× | 0.96× | ||
| Q2 25 | 0.01× | 0.90× | ||
| Q1 25 | 0.01× | 0.93× | ||
| Q4 24 | 0.01× | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
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 | $12.5M | $-14.4M |
| Free Cash FlowOCF − Capex | $11.6M | $-16.1M |
| FCF MarginFCF / Revenue | 17.7% | -27.8% |
| Capex IntensityCapex / Revenue | 1.4% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $-14.4M | ||
| Q3 25 | $-5.7M | $-6.2M | ||
| Q2 25 | $-9.4M | $-7.6M | ||
| Q1 25 | $-2.1M | $-29.0M | ||
| Q4 24 | $16.6M | $-6.7M | ||
| Q3 24 | $-8.3M | $-22.8M | ||
| Q2 24 | $834.0K | $-19.7M | ||
| Q1 24 | $-16.4M | $-9.3M |
| Q4 25 | $11.6M | $-16.1M | ||
| Q3 25 | $-7.0M | $-10.3M | ||
| Q2 25 | $-11.3M | $-13.6M | ||
| Q1 25 | $-3.3M | $-31.4M | ||
| Q4 24 | $14.4M | $-8.6M | ||
| Q3 24 | $-9.4M | $-29.3M | ||
| Q2 24 | $-744.0K | $-23.4M | ||
| Q1 24 | $-18.3M | $-11.7M |
| Q4 25 | 17.7% | -27.8% | ||
| Q3 25 | -10.0% | -19.2% | ||
| Q2 25 | -20.4% | -26.4% | ||
| Q1 25 | -5.4% | -58.0% | ||
| Q4 24 | 20.1% | -14.8% | ||
| Q3 24 | -14.0% | -54.3% | ||
| Q2 24 | -1.3% | -44.7% | ||
| Q1 24 | -26.3% | -22.3% |
| Q4 25 | 1.4% | 3.0% | ||
| Q3 25 | 1.8% | 7.8% | ||
| Q2 25 | 3.4% | 11.6% | ||
| Q1 25 | 2.0% | 4.4% | ||
| Q4 24 | 3.1% | 3.2% | ||
| Q3 24 | 1.6% | 12.1% | ||
| Q2 24 | 2.8% | 7.0% | ||
| Q1 24 | 2.7% | 4.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
