v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 174,433 $ 145,456
Restricted cash 10,281 10,285
Accounts receivable, net of allowance for doubtful accounts of $173 as of March 31, 2026 and $163 as of December 31, 2025 60,499 57,485
Inventory 57,038 48,618
Prepaid expenses and other current assets 24,909 23,924
Total current assets 327,160 285,768
Property and equipment, net 43,646 43,349
Intangible assets, net 186,307 195,908
Goodwill 289,679 292,644
Operating lease right-of-use assets 14,156 14,363
Other assets and deposits 8,615 8,754
Total assets 869,563 840,786
Liabilities and stockholders' equity    
Accounts payable 24,398 21,832
Accrued payroll liabilities 9,904 9,889
Contingent considerations 1,382 611
Accrued expenses and other current liabilities 25,792 24,772
Intangible asset contract liability 5,875 5,875
Current debt obligations 12,290 13,567
Total current liabilities 79,641 76,546
Long-term debt, net of current portion 402,816 339,834
Intangible asset contract liability, net of current portion 3,947 5,705
Deferred tax liabilities, non-current 14,129 14,198
Operating lease liability, non-current 12,440 13,046
Other long-term liabilities 7,640 7,444
Total liabilities 520,613 456,773
Commitments and contingencies (Note 17)
Stockholders' equity    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued or outstanding 0 0
Additional paid-in capital 1,013,763 998,730
Accumulated deficit (680,302) (637,110)
Accumulated other comprehensive loss (8,887) (3,611)
indie's stockholders' equity 324,597 358,031
Noncontrolling interest 24,353 25,982
Total stockholders' equity 348,950 384,013
Total liabilities and stockholders' equity 869,563 840,786
Class A    
Stockholders' equity    
Common stock 21 20
Class V    
Stockholders' equity    
Common stock $ 2 $ 2