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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($55.5M vs $55.4M, roughly 1.0× Lifeway Foods, Inc.). On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 2.6%). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs 2.9%).
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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
INDI vs LWAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $55.4M |
| Net Profit | — | $2.5M |
| Gross Margin | 38.0% | 27.8% |
| Operating Margin | -70.1% | 6.8% |
| Net Margin | — | 4.6% |
| Revenue YoY | 2.6% | 18.0% |
| Net Profit YoY | — | 1688.1% |
| EPS (diluted) | — | $0.15 |
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 | $55.4M | ||
| Q3 25 | $53.7M | $57.1M | ||
| Q2 25 | $51.6M | $53.9M | ||
| Q1 25 | $54.1M | $46.1M | ||
| Q4 24 | $58.0M | $46.9M | ||
| Q3 24 | $54.0M | $46.1M | ||
| Q2 24 | $52.4M | $49.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-31.2M | $2.5M | ||
| Q3 25 | $-38.3M | $3.5M | ||
| Q2 25 | $-39.0M | $4.2M | ||
| Q1 25 | $-34.5M | $3.5M | ||
| Q4 24 | $-34.4M | $-160.0K | ||
| Q3 24 | $-49.7M | $3.0M | ||
| Q2 24 | $-19.2M | $3.8M |
| Q1 26 | 38.0% | — | ||
| Q4 25 | 37.3% | 27.8% | ||
| Q3 25 | 40.1% | 28.7% | ||
| Q2 25 | 40.6% | 28.6% | ||
| Q1 25 | 41.7% | 23.9% | ||
| Q4 24 | 42.6% | 25.3% | ||
| Q3 24 | 39.3% | 25.7% | ||
| Q2 24 | 42.2% | 27.0% |
| Q1 26 | -70.1% | — | ||
| Q4 25 | -58.5% | 6.8% | ||
| Q3 25 | -71.4% | 8.8% | ||
| Q2 25 | -83.3% | 10.8% | ||
| Q1 25 | -72.0% | 3.4% | ||
| Q4 24 | -58.4% | 1.5% | ||
| Q3 24 | -92.5% | 9.1% | ||
| Q2 24 | -70.0% | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | -53.8% | 4.6% | ||
| Q3 25 | -71.3% | 6.2% | ||
| Q2 25 | -75.6% | 7.9% | ||
| Q1 25 | -63.9% | 7.7% | ||
| Q4 24 | -59.2% | -0.3% | ||
| Q3 24 | -92.1% | 6.5% | ||
| Q2 24 | -36.6% | 7.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.16 | $0.15 | ||
| Q3 25 | $-0.19 | $0.23 | ||
| Q2 25 | $-0.20 | $0.28 | ||
| Q1 25 | $-0.18 | $0.23 | ||
| Q4 24 | $-0.18 | $0.00 | ||
| Q3 24 | $-0.28 | $0.19 | ||
| Q2 24 | $-0.11 | $0.25 |
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 | $5.6M |
| Total DebtLower is stronger | $402.8M | — |
| Stockholders' EquityBook value | $348.9M | $85.8M |
| Total Assets | $869.6M | $105.6M |
| Debt / EquityLower = less leverage | 1.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.4M | — | ||
| Q4 25 | $145.5M | $5.6M | ||
| Q3 25 | $160.9M | $23.0M | ||
| Q2 25 | $192.6M | $21.2M | ||
| Q1 25 | $236.6M | $19.4M | ||
| Q4 24 | $274.2M | $16.7M | ||
| Q3 24 | $96.9M | $20.6M | ||
| Q2 24 | $112.3M | $14.6M |
| Q1 26 | $402.8M | — | ||
| 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 26 | $348.9M | — | ||
| Q4 25 | $358.0M | $85.8M | ||
| Q3 25 | $369.2M | $82.8M | ||
| Q2 25 | $390.4M | $78.7M | ||
| Q1 25 | $405.6M | $74.2M | ||
| Q4 24 | $417.9M | $71.9M | ||
| Q3 24 | $458.6M | $71.5M | ||
| Q2 24 | $470.7M | $68.0M |
| Q1 26 | $869.6M | — | ||
| Q4 25 | $840.8M | $105.6M | ||
| Q3 25 | $855.1M | $109.5M | ||
| Q2 25 | $867.6M | $98.3M | ||
| Q1 25 | $909.0M | $93.7M | ||
| Q4 24 | $941.4M | $90.5M | ||
| Q3 24 | $797.5M | $91.3M | ||
| Q2 24 | $797.3M | $84.9M |
| 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 | — | $267.0K |
| Free Cash FlowOCF − Capex | — | $-17.4M |
| FCF MarginFCF / Revenue | — | -31.5% |
| Capex IntensityCapex / Revenue | — | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-14.4M | $267.0K | ||
| Q3 25 | $-6.2M | $6.9M | ||
| Q2 25 | $-7.6M | $3.9M | ||
| Q1 25 | $-29.0M | $-150.0K | ||
| Q4 24 | $-6.7M | $-2.6M | ||
| Q3 24 | $-22.8M | $7.5M | ||
| Q2 24 | $-19.7M | $6.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-16.1M | $-17.4M | ||
| Q3 25 | $-10.3M | $1.8M | ||
| Q2 25 | $-13.6M | $1.6M | ||
| Q1 25 | $-31.4M | $-2.4M | ||
| Q4 24 | $-8.6M | $-3.8M | ||
| Q3 24 | $-29.3M | $5.9M | ||
| Q2 24 | $-23.4M | $5.1M |
| Q1 26 | — | — | ||
| Q4 25 | -27.8% | -31.5% | ||
| Q3 25 | -19.2% | 3.1% | ||
| Q2 25 | -26.4% | 3.0% | ||
| Q1 25 | -58.0% | -5.1% | ||
| Q4 24 | -14.8% | -8.2% | ||
| Q3 24 | -54.3% | 12.8% | ||
| Q2 24 | -44.7% | 10.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 31.9% | ||
| Q3 25 | 7.8% | 9.0% | ||
| Q2 25 | 11.6% | 4.3% | ||
| Q1 25 | 4.4% | 4.8% | ||
| Q4 24 | 3.2% | 2.7% | ||
| Q3 24 | 12.1% | 3.3% | ||
| Q2 24 | 7.0% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 1.96× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | 1.73× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
