Financial Outlook

"Looking ahead, we remain confident in our growth potential for the medium and long term," said Guy Nathanzon, CFO of Valens Semiconductor. "We are committed to pushing the boundaries of connectivity with our advanced chipsets that empower customers to bring disruptive products to both established and emerging markets."

"Our fourth quarter 2024 revenues are expected to range between $16.0 million and $16.3 million. Gross margin is expected to range between 58.0% and 62.0%, and adjusted EBITDA loss is expected to range between $(4.9) million and $(4.0) million. For the full year 2024, we expect revenues to be in the range of $57.2 million and $57.5 million. Gross margin is expected to range between 58.0% and 60.0%, and adjusted EBITDA loss is expected to range between $(22.3) million and $(21.4) million. We ended the third quarter with a strong cash position and look forward to investing in innovation and strategic acquisitions that support long-term growth," concluded Nathanzon.