VLN - Valens Semiconductor Non-GAAP EPS of -$0.03 beats by $0.04 revenue of $23.9M beats by $0.18M

2023-05-10 06:05:44 ET

• Valens Semiconductor press release ( NYSE: VLN ): Q1 Non-GAAP EPS of -$0.03 beats by $0.04 .
• Revenue of $23.9M (+10.6% Y/Y) beats by $0.18M .
• GAAP gross margin was 66.1% for the first quarter 2023 (non-GAAP gross margin was 67.2%)- Q1 2023 GAAP Net Loss was $(5.4) million, compared to $(5.1) million in Q1 2022, and Adjusted EBITDA Loss in Q1 2023 was $(2.9) million, compared to $(4.1) million in Q1 2022
• Strong balance sheet as of March 31, 2023, with working capital of $161.4 million, including $139.7 million in cash, cash equivalents and short-term deposits, and no debt
• Outlook:
• For the second quarter of 2023, revenues are expected to range between $23.9 million and $24.1 million. vs $23.79M Consensus

• Adjusted EBITDA loss is expected to be in the range of $(4.3) million to $(3.7) million.

• For the full year 2023, the company's guidance remains unchanged. Revenues are expected to range between $97 million and $100 million. vs $98.97M Consensus

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