Core Viewpoint - Valens Semiconductor will host meetings with customers, analysts, and investors at CES 2026, showcasing its high-performance connectivity technology across various key markets [1][2]. Company Overview - Valens Semiconductor is a leader in high-performance connectivity, enabling digital experiences globally through its chipsets integrated into numerous devices [3]. - The company's technology supports advanced audio-video installations, next-generation videoconferencing, and the development of ADAS and autonomous driving [3]. - Valens sets industry standards with its technology, including HDBaseT® and MIPI A-PHY [3]. Event Details - Meetings will take place from January 6 to January 9, 2026, at Valens' Booth N231 in the North Hall of the LVCC during CES 2026 [1][2]. - Guy Nathanzon, the Chief Financial Officer, along with the sales team, will demonstrate the company's technology and its applications in various sectors such as Automotive, Professional Audio-Video, Industrial, Medical, Education, and Video Conferencing [2].

Core Insights - The announcement of the first production-ready MIPI A-PHY-based platform for machine vision connectivity, developed by Valens Semiconductor and Imavix, aims to enhance the design of machine vision cameras, making them smaller, more robust, and cost-effective [1][2][3] Group 1: Product Development - The new platform allows for the integration of high-performance A-PHY connectivity in machine vision applications, enabling camera vendors to create smaller and more efficient products [1][2] - The first A-PHY camera module, developed by CIS Corporation, measures 22mm x 22mm x 22mm, which is less than half the size of existing machine vision cameras while improving electromagnetic compatibility (EMC) [2][3] Group 2: Technical Specifications - The platform utilizes Valens' A-PHY chipsets and Imavix's intellectual property, supported by MVTec's HALCON software and designed on an Efinix FPGA, facilitating a 10Gbps GigE Vision output [3][4] - The VA7000 chipset, based on the MIPI A-PHY standard, provides superior EMC performance, high-speed data transmission, and advanced diagnostics for link monitoring [4][5] Group 3: Market Demand and Transition - There is a growing demand for MIPI A-PHY compliant chipsets, as they offer sufficient bandwidth for high-resolution cameras, long link distances, and enhanced noise immunity, addressing the needs of the machine vision industry [5] - The transition from legacy standards to MIPI A-PHY is being facilitated by the new platform, which integrates seamlessly with standard machine vision software [5][6] Group 4: Industry Applications - The A-PHY technology is expected to enhance various applications, including factory automation, logistics, robotics, and intelligent transportation systems, by providing high-resolution vision capabilities [5][6] - Valens will showcase the A-PHY platform and camera at the ITE 2025 show in Yokohama, Japan, highlighting the expanding MIPI A-PHY ecosystem [5][6]

Core Insights - Valens Semiconductor Ltd. (NYSE: VLN) reported Q3 2025 revenue of $17.3 million, exceeding guidance of $15.1-$15.6 million, marking the sixth consecutive quarter of growth [1][8] - The GAAP gross margin was 63.0% and non-GAAP gross margin was 66.7%, both above guidance, although slightly down from 63.5% in Q2 2025 [1][8] - Adjusted EBITDA loss was $(4.3) million, better than the expected range of $(7.4)-$(6.8) million [1][8] Financial Performance - Q3 2025 revenue of $17.3 million, up from $17.1 million in Q2 2025 and $16.0 million in Q3 2024 [1][8] - Management guided Q4 2025 revenue to be between $18.2 million and $18.9 million, with full-year growth expected to be near 20% year-over-year [1][8] - The company ended the quarter with $93.5 million in cash and no debt [1][8] Market Outlook - The company faces headwinds from tariff impacts, particularly in the automotive sector [1] - Despite mixed visibility into year-end, steady growth is expected through 2026 as ProAV normalizes and machine vision and medical programs ramp up, with automotive stabilizing alongside ongoing A-PHY ecosystem progress [1]

Financial Data and Key Metrics Changes - The company reported revenues of $17.3 million for Q3 2025, exceeding the guidance range of $15.1-$15.6 million, marking the sixth consecutive quarter of growth [6][17] - GAAP gross margin for Q3 2025 was 63%, better than the guidance of 58%-60% [18] - Adjusted EBITDA loss for Q3 2025 was $4.3 million, which was better than the guidance range of a loss between $7.4 million and $6.8 million [20] - The company expects Q4 2025 revenues to be in the range of $18.2-$18.9 million, indicating a seventh consecutive quarter of growth [22] Business Line Data and Key Metrics Changes - The cross-industry business unit (CIB) accounted for $13.2 million, approximately 75% of total revenues, while automotive contributed $4.1 million, approximately 25% [17] - CIB revenues increased from $12.8 million in Q2 2025, while automotive revenues decreased slightly from $4.3 million in Q2 2025 [17] - Gross margin for CIB was 69.1%, while automotive gross margin was 43.2% in Q3 2025 [18] Market Data and Key Metrics Changes - The company noted a growing adoption of Matrix solutions in the POEV market, which are being used in command and control centers, museums, and live events [7] - The medical segment is seeing significant interest with three OEMs launching VA7000-based endoscopies, including the first disposable colonoscopy with 4K video resolution [10][12] Company Strategy and Development Direction - The company is focused on high-end products in the POEV market, with the VS3000 chipset being a key driver for growth [6][7] - Valens Semiconductor aims to secure additional design wins in the medical segment and ramp into mass production starting in 2027-2028 [12] - The automotive strategy is centered around the VA7000 chipset, which complies with the MIPI A-PHY standard for high-speed sensor connectivity [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, supported by cutting-edge technology and a robust balance sheet [24] - The influence of tariffs has become milder, leading to increased customer orders [29] - Management highlighted the importance of MIPI A-PHY in addressing the growing demand for higher bandwidth and resolution in various industries [34] Other Important Information - The company ended Q3 2025 with cash and cash equivalents totaling $93.5 million and no debt [21] - The company allocated $3.6 million for a share repurchase program during Q3 2025 [21] Q&A Session Summary Question: About the gross margin drop in automotive - Management indicated that the drop was a one-time event related to product mix and manufacturing line transitions, expecting improvement in the next quarter [26][27] Question: Strength in cross-industry business and tariff impact - Management noted that the tariff influence has become milder, allowing companies to place new orders more confidently [28][29] Question: Pro AV upside and sustainability - Management explained that Pro AV growth is driven by matrices, conference rooms, and projectors, with a notable increase in conference room cameras [32][33] Question: Factors pacing MIPI A-PHY adoption - Management emphasized that MIPI A-PHY offers significant advantages in environments with strong electromagnetic interference, which is crucial for various applications [34]

分组1 - Valens Semiconductor, Ltd. reported a quarterly loss of $0.04 per share, better than the Zacks Consensus Estimate of a loss of $0.07, representing an earnings surprise of +42.86% [1] - PTK Acquisition posted revenues of $17.34 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 12.57%, compared to year-ago revenues of $16.04 million [2] - The current consensus EPS estimate for PTK Acquisition is -$0.04 on $19.1 million in revenues for the coming quarter and -$0.18 on $68.3 million in revenues for the current fiscal year [7] 分组2 - The Zacks Industry Rank for Electronics - Semiconductors is currently in the top 33% of over 250 Zacks industries, indicating strong performance potential [8] - Broadcom Inc. is expected to report quarterly earnings of $1.87 per share, reflecting a year-over-year change of +31.7%, with revenues anticipated to be $17.5 billion, up 24.5% from the year-ago quarter [9][10]

Financial Performance & Guidance - Valens Semiconductor reported Q3 2025 revenue of $17335 million[70], with a GAAP gross margin of 630%[70] - The company's Q3 2025 Adjusted EBITDA loss was $4298 million[70] - Revenue guidance for Q4 2025 is $182-$189 million[71] - The company anticipates full year 2025 revenue between $694 million and $701 million[71], representing approximately 20% year-over-year growth[77] - The gross margin guidance for 2025 is 580%-600%[71] - Adjusted EBITDA loss for 2025 is projected to be between $42 million and $46 million[71] Market Opportunities & Strategy - Valens Semiconductor targets revenue of $220 million to $300 million by 2029[74] - The company is focused on growth in the Pro AV, Industrial Machine Vision, and Automotive markets[74] - The automotive total addressable market (TAM) is projected to reach $45 billion by 2029[34], with 14 billion chips per year[34] - The video conferencing total addressable market (TAM) is projected to reach $350 million by 2028/2029[25]

Financial Performance - Revenues for the nine months ended September 30, 2025, increased to $51,222,000, up 24.8% from $41,194,000 in the same period of 2024[9] - Gross profit for the three months ended September 30, 2025, was $10,922,000, representing a 21% increase compared to $9,045,000 in Q3 2024[9] - The net loss for the nine months ended September 30, 2025, was $22,813,000, compared to a net loss of $29,266,000 for the same period in 2024, reflecting a 22% improvement[9] - Operating loss for the three months ended September 30, 2025, was $8,037,000, a reduction from $12,233,000 in Q3 2024, indicating a 34.5% improvement[9] - For the nine months ended September 30, 2025, the net loss was $22,813 thousand, a decrease of 22.5% compared to a net loss of $29,266 thousand for the same period in 2024[15] - The basic net loss per ordinary share for the nine months ended September 30, 2025, was $(0.22), an improvement from $(0.28) in the prior year[83] - Segment operating loss for the nine months ended September 30, 2025, was $(24,882) thousand, an improvement from $(32,932) thousand in the same period of 2024, indicating a reduction in losses by 24.4%[90][92] Assets and Liabilities - Total current assets decreased to $119,994,000 as of September 30, 2025, down 22% from $153,903,000 at the end of December 2024[4] - Total assets decreased to $136,691,000 as of September 30, 2025, down 20.6% from $172,152,000 at December 31, 2024[4] - Total liabilities decreased to $27,859,000 as of September 30, 2025, down from $29,464,000 at December 31, 2024[6] - Shareholders' equity decreased to $108,832,000 as of September 30, 2025, down from $142,688,000 at December 31, 2024[6] Cash Flow and Investments - Cash flows from operating activities resulted in a net cash used of $12,423 thousand for the nine months ended September 30, 2025, compared to a net cash provided of $1,349 thousand in the same period of 2024[15] - The company reported a net cash provided by investing activities of $32,462 thousand for the nine months ended September 30, 2025, compared to $16,969 thousand in the same period of 2024[15] - The total cash, cash equivalents, and restricted deposits at the end of the period were $32,708 thousand, down from $35,443 thousand at the end of the previous year[18] Acquisition and Related Financials - The company acquired Acroname Inc. for a total cash consideration of $9.1 million, with potential earnout payments of up to $7.2 million based on performance targets[31] - Revenues related to Acroname included in the consolidated financial statements were $4,158 thousand for the nine months ended September 30, 2025[33] - The net loss attributed to Acroname for the same period was $1,619 thousand, including amortization of tangible and intangible assets of $882 thousand[33] - The total purchase price allocation for the acquisition amounted to $12,184 thousand, with net assets acquired valued at $11,196 thousand after assuming liabilities of $988 thousand[35] - The company has an earnout liability related to the Acroname acquisition of up to $7.2 million, with $1.5 million due upon completion of a product development by September 2026[55] - The fair value of the earnout liability as of September 30, 2025, was recorded at $(2,494) thousand, reflecting a change in fair value of $(81) thousand for the nine months ended[59] Stock and Compensation - Stock-based compensation for the nine months ended September 30, 2025, was $11,670 thousand, slightly increasing from $11,259 thousand in the same period of 2024[15] - Total stock-based compensation for the nine months ended September 30, 2025, was $1,019 thousand, down from $2,219 thousand in the same period of 2024[76] - The unrecognized compensation costs related to unvested stock options as of September 30, 2025, were $1,324 thousand, expected to be recognized over a weighted-average period of 1.86 years[70] - The total intrinsic value of options exercised during the nine months ended September 30, 2025, was $978 thousand, compared to $1,939 thousand in the same period of 2024[75] - The company repurchased a total of 6,151,225 shares for $15 million under the second share repurchase program initiated on February 11, 2025[72] - As of September 30, 2025, the outstanding Restricted Stock Units (RSUs) totaled 9,475,900, with unrecognized compensation costs of approximately $20,346 thousand expected to be expensed over 2.38 years[79] Research and Development - Research and development expenses for the nine months ended September 30, 2025, totaled $31,591 thousand, compared to $30,415 thousand in 2024, showing a slight increase of 3.9%[90][92] Geopolitical and Market Considerations - The company continues to monitor geopolitical developments and their potential impact on operations, although no material effects have been observed to date[21] Revenue Sources - Revenues from China for the nine months ended September 30, 2025, were $7,170 thousand, up 27.4% from $5,630 thousand in 2024[97] - Customer A accounted for 14% of total revenues for the nine months ended September 30, 2025, compared to 13% in the same period of 2024[100]

Core Insights - Valens Semiconductor Ltd. reported strong financial results for Q3 2025, achieving revenues of $17.3 million, marking the sixth consecutive quarter of growth [2][3][6] - The company has launched significant products in various sectors, including the first end-to-end camera-to-processor MIPI A-PHY platform and new medical imaging products [3][14] - A new CEO, Yoram Salinger, has been appointed, effective November 13, 2025, to further accelerate growth [3][14] Financial Highlights - Q3 2025 revenues reached $17.3 million, exceeding guidance of $15.1-$15.6 million, compared to $17.1 million in Q2 2025 and $16.0 million in Q3 2024 [5][6] - Gross margin for Q3 2025 was 63.0% (GAAP) and 66.7% (non-GAAP), surpassing the guidance of 58%-60% [5][6] - The company reported a net loss of $(7.3) million for Q3 2025, an improvement from $(10.4) million in Q3 2024 [6][18] Revenue Breakdown - Cross-Industry Business (CIB) revenues accounted for approximately 75% of total revenues at $13.2 million, up from $12.8 million in Q2 2025 and $9.4 million in Q3 2024 [6][18] - Automotive revenues represented about 25% of total revenues at $4.1 million, down from $4.3 million in Q2 2025 and $6.6 million in Q3 2024 [6][18] Cash Position - As of September 30, 2025, cash, cash equivalents, and short-term deposits totaled $93.5 million, with no debt [5][6] - The company allocated $3.6 million for a share repurchase program during Q3 2025 [7] Future Outlook - For Q4 2025, Valens expects revenues between $18.2 million to $18.9 million and a gross margin of 58% to 60% [9] - The full year 2025 revenue guidance is projected to be between $69.4 million to $70.1 million, reflecting a 20% increase compared to 2024 [9]

Core Insights - Valens Semiconductor is set to launch three new endoscopes powered by its VA7000 chipset, marking a significant entry into the medical imaging market [1][3] - The VA7000 chipset features built-in electrosurgical noise cancellation and multi-gig connectivity, enhancing the performance of endoscopic procedures [2][3] Product Launch - The new products include an innovative laparoscope, a 3D imaging solution for robotic surgeries, and the first single-use colonoscope with 4K video resolution [1] - Valens will showcase these endoscopes at the Medica trade show in Dusseldorf, Germany, from November 17 to 20, 2025 [4] Market Reception - The market is rapidly embracing Valens' medical imaging offerings, with leading companies recognizing the technology as a key enabler for next-generation endoscopes [3] - The VA7000 chipset complies with the MIPI A-PHY standard and is designed to perform well in challenging electromagnetic environments, making it suitable for various industries beyond medical [3]

Company Overview - Valens Semiconductor (NYSE: VLN) is a leader in high-performance connectivity, enabling customers to enhance digital experiences globally [2] - The company's chipsets are integrated into various devices, supporting advanced audio-video installations, next-generation videoconferencing, and the development of ADAS and autonomous driving technologies [2] - Valens' technology underpins leading industry standards such as HDBaseT® and MIPI A-PHY [2] Upcoming Events - Guy Nathanzon, Chief Financial Officer of Valens, will participate in the 14th Annual ROTH Technology Conference on November 19, 2025, in New York City [1] - Investors interested in one-on-one meetings with Valens during the conference are encouraged to contact their sales representative or Miri Segal [1] Financial Announcements - Valens Semiconductor will announce its third quarter 2025 financial results on November 12, 2025 [6]