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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($55.5M vs $47.7M, roughly 1.2× IRONWOOD PHARMACEUTICALS INC). On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (2.6% vs -47.3%). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (2.9% CAGR vs -20.2%).
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.
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
INDI vs IRWD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $47.7M |
| Net Profit | — | $-2.3M |
| Gross Margin | 38.0% | — |
| Operating Margin | -70.1% | 14.3% |
| Net Margin | — | -4.8% |
| Revenue YoY | 2.6% | -47.3% |
| Net Profit YoY | — | -200.9% |
| EPS (diluted) | — | $0.01 |
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.
| Q1 26 | $55.5M | — | ||
| Q4 25 | $58.0M | $47.7M | ||
| Q3 25 | $53.7M | $122.1M | ||
| Q2 25 | $51.6M | $85.2M | ||
| Q1 25 | $54.1M | $41.1M | ||
| Q4 24 | $58.0M | $90.5M | ||
| Q3 24 | $54.0M | $91.6M | ||
| Q2 24 | $52.4M | $94.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-31.2M | $-2.3M | ||
| Q3 25 | $-38.3M | $40.1M | ||
| Q2 25 | $-39.0M | $23.6M | ||
| Q1 25 | $-34.5M | $-37.4M | ||
| Q4 24 | $-34.4M | $2.3M | ||
| Q3 24 | $-49.7M | $3.6M | ||
| Q2 24 | $-19.2M | $-860.0K |
| Q1 26 | 38.0% | — | ||
| 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 26 | -70.1% | — | ||
| Q4 25 | -58.5% | 14.3% | ||
| Q3 25 | -71.4% | 61.8% | ||
| Q2 25 | -83.3% | 53.2% | ||
| Q1 25 | -72.0% | -70.7% | ||
| Q4 24 | -58.4% | 34.8% | ||
| Q3 24 | -92.5% | 28.0% | ||
| Q2 24 | -70.0% | 26.5% |
| Q1 26 | — | — | ||
| Q4 25 | -53.8% | -4.8% | ||
| Q3 25 | -71.3% | 32.8% | ||
| Q2 25 | -75.6% | 27.7% | ||
| Q1 25 | -63.9% | -90.9% | ||
| Q4 24 | -59.2% | 2.5% | ||
| Q3 24 | -92.1% | 4.0% | ||
| Q2 24 | -36.6% | -0.9% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.16 | $0.01 | ||
| Q3 25 | $-0.19 | $0.23 | ||
| Q2 25 | $-0.20 | $0.14 | ||
| Q1 25 | $-0.18 | $-0.23 | ||
| Q4 24 | $-0.18 | $0.03 | ||
| Q3 24 | $-0.28 | $0.02 | ||
| Q2 24 | $-0.11 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.4M | $215.5M |
| Total DebtLower is stronger | $402.8M | — |
| Stockholders' EquityBook value | $348.9M | $-261.8M |
| Total Assets | $869.6M | $396.9M |
| Debt / EquityLower = less leverage | 1.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.4M | — | ||
| Q4 25 | $145.5M | $215.5M | ||
| Q3 25 | $160.9M | $140.4M | ||
| Q2 25 | $192.6M | $92.9M | ||
| Q1 25 | $236.6M | $108.5M | ||
| Q4 24 | $274.2M | $88.6M | ||
| Q3 24 | $96.9M | $88.2M | ||
| Q2 24 | $112.3M | $105.5M |
| Q1 26 | $402.8M | — | ||
| Q4 25 | $353.4M | — | ||
| Q3 25 | $353.5M | $199.5M | ||
| Q2 25 | $352.5M | $199.3M | ||
| Q1 25 | $379.0M | $199.2M | ||
| Q4 24 | $381.3M | $199.0M | ||
| Q3 24 | — | $198.8M | ||
| Q2 24 | — | $198.6M |
| Q1 26 | $348.9M | — | ||
| Q4 25 | $358.0M | $-261.8M | ||
| Q3 25 | $369.2M | $-264.2M | ||
| Q2 25 | $390.4M | $-308.2M | ||
| Q1 25 | $405.6M | $-334.1M | ||
| Q4 24 | $417.9M | $-301.3M | ||
| Q3 24 | $458.6M | $-311.3M | ||
| Q2 24 | $470.7M | $-321.7M |
| Q1 26 | $869.6M | — | ||
| Q4 25 | $840.8M | $396.9M | ||
| Q3 25 | $855.1M | $396.1M | ||
| Q2 25 | $867.6M | $342.9M | ||
| Q1 25 | $909.0M | $327.2M | ||
| Q4 24 | $941.4M | $350.9M | ||
| Q3 24 | $797.5M | $389.5M | ||
| Q2 24 | $797.3M | $395.6M |
| Q1 26 | 1.15× | — | ||
| Q4 25 | 0.99× | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $74.6M |
| Free Cash FlowOCF − Capex | — | $74.6M |
| FCF MarginFCF / Revenue | — | 156.3% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $127.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-14.4M | $74.6M | ||
| Q3 25 | $-6.2M | $47.6M | ||
| Q2 25 | $-7.6M | $-15.1M | ||
| Q1 25 | $-29.0M | $20.0M | ||
| Q4 24 | $-6.7M | $15.2M | ||
| Q3 24 | $-22.8M | $9.9M | ||
| Q2 24 | $-19.7M | $33.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-16.1M | $74.6M | ||
| Q3 25 | $-10.3M | $47.6M | ||
| Q2 25 | $-13.6M | $-15.1M | ||
| Q1 25 | $-31.4M | $19.9M | ||
| Q4 24 | $-8.6M | — | ||
| Q3 24 | $-29.3M | $9.9M | ||
| Q2 24 | $-23.4M | $33.4M |
| Q1 26 | — | — | ||
| Q4 25 | -27.8% | 156.3% | ||
| Q3 25 | -19.2% | 39.0% | ||
| Q2 25 | -26.4% | -17.7% | ||
| Q1 25 | -58.0% | 48.4% | ||
| Q4 24 | -14.8% | — | ||
| Q3 24 | -54.3% | 10.8% | ||
| Q2 24 | -44.7% | 35.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 0.0% | ||
| Q3 25 | 7.8% | 0.0% | ||
| Q2 25 | 11.6% | 0.0% | ||
| Q1 25 | 4.4% | 0.1% | ||
| Q4 24 | 3.2% | 0.0% | ||
| Q3 24 | 12.1% | 0.0% | ||
| Q2 24 | 7.0% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | -0.64× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.74× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
IRWD
Segment breakdown not available.
