VLN - Valens Semiconductor Non-GAAP EPS of $0.00 beats by $0.05 revenue of $24.2M beats by $0.23M

2023-08-09 06:09:26 ET

• Valens Semiconductor press release ( NYSE: VLN ): Q2 Non-GAAP EPS of $0.00 beats by $0.05 .
• Revenue of $24.2M (+7.6% Y/Y) beats by $0.23M .
• For the third quarter 2023, the company is reaffirming its revenues guidance at the range between $14.0 million and $14.2 million.
• Gross margin guidance is expected to range between 57.6% and 58.0% and Adjusted EBITDA loss is expected to be in the range of $(12.2) million to $(11.9) million.
• For FY23, Revenues are expected to range between $83.8 million and $84.2 million, of which automotive revenues are expected to approximate 30%.
• Gross margin for the full year 2023 is now expected to range between 62.2% and 62.5%.
• Adjusted EBITDA loss in 2023 is now expected to be in the range of $(16.2) million to $(15.6) million.

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