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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $32.6M, roughly 1.8× RxSight, Inc.). RxSight, Inc. runs the higher net margin — -28.1% vs -53.8%, a 25.8% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -18.9%). RxSight, Inc. produced more free cash flow last quarter ($-2.3M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs 5.1%).
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.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
INDI vs RXST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $32.6M |
| Net Profit | $-31.2M | $-9.2M |
| Gross Margin | 37.3% | 77.5% |
| Operating Margin | -58.5% | -34.8% |
| Net Margin | -53.8% | -28.1% |
| Revenue YoY | -0.0% | -18.9% |
| Net Profit YoY | 9.1% | -54.1% |
| EPS (diluted) | $-0.16 | $-0.22 |
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 | $58.0M | $32.6M | ||
| Q3 25 | $53.7M | $30.3M | ||
| Q2 25 | $51.6M | $33.6M | ||
| Q1 25 | $54.1M | $37.9M | ||
| Q4 24 | $58.0M | $40.2M | ||
| Q3 24 | $54.0M | $35.3M | ||
| Q2 24 | $52.4M | $34.9M | ||
| Q1 24 | $52.4M | $29.5M |
| Q4 25 | $-31.2M | $-9.2M | ||
| Q3 25 | $-38.3M | $-9.8M | ||
| Q2 25 | $-39.0M | $-11.8M | ||
| Q1 25 | $-34.5M | $-8.2M | ||
| Q4 24 | $-34.4M | $-5.9M | ||
| Q3 24 | $-49.7M | $-6.3M | ||
| Q2 24 | $-19.2M | $-6.1M | ||
| Q1 24 | $-31.2M | $-9.1M |
| Q4 25 | 37.3% | 77.5% | ||
| Q3 25 | 40.1% | 79.9% | ||
| Q2 25 | 40.6% | 74.9% | ||
| Q1 25 | 41.7% | 74.8% | ||
| Q4 24 | 42.6% | 71.6% | ||
| Q3 24 | 39.3% | 71.4% | ||
| Q2 24 | 42.2% | 69.5% | ||
| Q1 24 | 42.5% | 70.1% |
| Q4 25 | -58.5% | -34.8% | ||
| Q3 25 | -71.4% | -40.1% | ||
| Q2 25 | -83.3% | -41.6% | ||
| Q1 25 | -72.0% | -28.2% | ||
| Q4 24 | -58.4% | -21.5% | ||
| Q3 24 | -92.5% | -26.1% | ||
| Q2 24 | -70.0% | -23.9% | ||
| Q1 24 | -94.8% | -36.2% |
| Q4 25 | -53.8% | -28.1% | ||
| Q3 25 | -71.3% | -32.4% | ||
| Q2 25 | -75.6% | -35.0% | ||
| Q1 25 | -63.9% | -21.6% | ||
| Q4 24 | -59.2% | -14.8% | ||
| Q3 24 | -92.1% | -17.9% | ||
| Q2 24 | -36.6% | -17.4% | ||
| Q1 24 | -59.6% | -30.8% |
| Q4 25 | $-0.16 | $-0.22 | ||
| Q3 25 | $-0.19 | $-0.24 | ||
| Q2 25 | $-0.20 | $-0.29 | ||
| Q1 25 | $-0.18 | $-0.20 | ||
| Q4 24 | $-0.18 | $-0.14 | ||
| Q3 24 | $-0.28 | $-0.16 | ||
| Q2 24 | $-0.11 | $-0.16 | ||
| Q1 24 | $-0.19 | $-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 | $145.5M | $228.1M |
| Total DebtLower is stronger | $353.4M | — |
| Stockholders' EquityBook value | $358.0M | $275.7M |
| Total Assets | $840.8M | $311.8M |
| Debt / EquityLower = less leverage | 0.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $228.1M | ||
| Q3 25 | $160.9M | $227.5M | ||
| Q2 25 | $192.6M | $227.5M | ||
| Q1 25 | $236.6M | $229.3M | ||
| Q4 24 | $274.2M | $237.2M | ||
| Q3 24 | $96.9M | $237.1M | ||
| Q2 24 | $112.3M | $233.3M | ||
| Q1 24 | $138.2M | $125.4M |
| 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 | $358.0M | $275.7M | ||
| Q3 25 | $369.2M | $276.0M | ||
| Q2 25 | $390.4M | $278.0M | ||
| Q1 25 | $405.6M | $279.3M | ||
| Q4 24 | $417.9M | $281.2M | ||
| Q3 24 | $458.6M | $277.3M | ||
| Q2 24 | $470.7M | $275.2M | ||
| Q1 24 | $432.9M | $163.9M |
| Q4 25 | $840.8M | $311.8M | ||
| Q3 25 | $855.1M | $308.5M | ||
| Q2 25 | $867.6M | $309.0M | ||
| Q1 25 | $909.0M | $313.0M | ||
| Q4 24 | $941.4M | $318.6M | ||
| Q3 24 | $797.5M | $310.5M | ||
| Q2 24 | $797.3M | $305.5M | ||
| Q1 24 | $803.6M | $183.2M |
| 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 | $-14.4M | $-1.1M |
| Free Cash FlowOCF − Capex | $-16.1M | $-2.3M |
| FCF MarginFCF / Revenue | -27.8% | -6.9% |
| Capex IntensityCapex / Revenue | 3.0% | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-71.4M | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $-1.1M | ||
| Q3 25 | $-6.2M | $-1.2M | ||
| Q2 25 | $-7.6M | $-4.4M | ||
| Q1 25 | $-29.0M | $-8.8M | ||
| Q4 24 | $-6.7M | $-4.3M | ||
| Q3 24 | $-22.8M | $650.0K | ||
| Q2 24 | $-19.7M | $-4.0M | ||
| Q1 24 | $-9.3M | $-9.3M |
| Q4 25 | $-16.1M | $-2.3M | ||
| Q3 25 | $-10.3M | $-1.8M | ||
| Q2 25 | $-13.6M | $-5.9M | ||
| Q1 25 | $-31.4M | $-9.4M | ||
| Q4 24 | $-8.6M | $-5.1M | ||
| Q3 24 | $-29.3M | $-453.0K | ||
| Q2 24 | $-23.4M | $-5.5M | ||
| Q1 24 | $-11.7M | $-11.3M |
| Q4 25 | -27.8% | -6.9% | ||
| Q3 25 | -19.2% | -5.8% | ||
| Q2 25 | -26.4% | -17.6% | ||
| Q1 25 | -58.0% | -24.8% | ||
| Q4 24 | -14.8% | -12.7% | ||
| Q3 24 | -54.3% | -1.3% | ||
| Q2 24 | -44.7% | -15.9% | ||
| Q1 24 | -22.3% | -38.2% |
| Q4 25 | 3.0% | 3.5% | ||
| Q3 25 | 7.8% | 1.9% | ||
| Q2 25 | 11.6% | 4.6% | ||
| Q1 25 | 4.4% | 1.5% | ||
| Q4 24 | 3.2% | 2.1% | ||
| Q3 24 | 12.1% | 3.1% | ||
| Q2 24 | 7.0% | 4.4% | ||
| Q1 24 | 4.4% | 6.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
