Financial Results Announcement - Velan Inc. will release its financial results for the third quarter ended November 30, 2024, on January 14, 2025 [1] - An analyst call is scheduled for January 15, 2025, at 8:00 a.m. (EDT) to discuss the results [2] Conference Call Details - Participants can join the conference call by registering through a provided link or by dialing in directly [2] - The call will also be available via webcast, with a replay accessible within 2 hours after the call [3] Investor Relations - Materials referenced during the conference call will be available on the company's Investor Relations section shortly before the event [4]

Core Insights - Valens Semiconductor focuses on developing advanced products for high-performance wired connectivity across various markets, including automotive, professional audio-video, industrial, and medical sectors [1][6] - The company aims to enhance connected vehicle systems, improving safety, performance, and the overall driving experience [1] - Valens' professional audio-video chips facilitate meeting equity, enabling operations in diverse conditions and locations for corporations and educational institutions [1] ESG Commitment - The 2023 ESG Report highlights Valens Semiconductor's commitment to responsible corporate governance and sustainable business practices [2][4] - The company engages with shareholders, customers, and partners to communicate progress and advancements in connectivity [2] - Valens emphasizes the importance of social and environmental responsibility in its growth strategy [5] Company Overview - Valens Semiconductor is recognized as a leader in high-performance connectivity, transforming digital experiences globally [6] - The company's chipsets are widely integrated into devices, supporting advanced audio-video installations, next-generation videoconferencing, and the development of ADAS and autonomous driving technologies [6] - Valens' technology underpins industry standards such as HDBaseT® and MIPI A-PHY, setting benchmarks in connectivity [6]

Exhibit 99.1 VALENS SEMICONDUCTOR LTD. | | September 30, 2024 | December 31, 2023 | | --- | --- | --- | | Assets | | | | CURRENT ASSETS: | | | | Cash and cash equivalents | 35,443 | 17,261 | | Short-term deposits | 97,655 | 124,759 | | Trade accounts receivable | 7,217 | 14,642 | | Prepaid expenses and other current assets | 3,000 | 4,196 | | Inventories | 11,737 | 13,836 | | TOTAL CURRENT ASSETS | 155,052 | 174,694 | | LONG-TERM ASSETS: | | | | Property and equipment, net | 2,889 | 2,954 | | Operating leas ...

Financial Data and Key Metrics Changes - The company reported revenues of $16 million for Q3 2024, exceeding guidance of $14.7 million to $15.4 million, and up from $13.6 million in Q2 2024 and $14.2 million in Q3 2023 [10][33] - GAAP gross margin for Q3 2024 was 56.4%, compared to guidance of 52% to 53%, and down from 61.4% in Q2 2024 and 58.9% in Q3 2023 [11][35] - Adjusted EBITDA loss was $5.1 million, better than the guidance range of $6.3 million to $6.8 million, and improved from a loss of $5.2 million in Q2 2024 and $8.8 million in Q3 2023 [39][40] - The company ended Q3 2024 with $133.1 million in cash and cash equivalents, compared to $130.6 million at the end of Q2 2024 and $142 million at the end of 2023 [41] Business Line Data and Key Metrics Changes - The Audio-Video segment contributed $9.4 million, approximately 60% of total revenue, while the Automotive segment contributed $6.6 million, approximately 40% of total revenue [34] - In Q2 2024, Audio-Video revenue was $8.1 million and Automotive revenue was $5.5 million, while in Q3 2023, Audio-Video revenue was $9.7 million and Automotive revenue was $4.5 million [34] Market Data and Key Metrics Changes - The professional audio-video market is seeing high adoption of the VS6320 chipset, with over 50 customers developing products expected to launch in the next 9 to 12 months [12] - The machine vision market is projected to reach $7.8 billion by 2029, with the segment Valens competes in expected to reach $460 million by 2029 [14] Company Strategy and Development Direction - The company is advancing its long-term growth strategy with new automotive design wins and entry into the industrial machine vision market [7][9] - A strategic organizational change is underway, transitioning the Audio-Video Business to a Cross Industry Business unit to encompass various verticals [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about emerging from the bottom of the cycle and increasing interest in their solutions [9] - The company is focused on leveraging opportunities across verticals, particularly in industrial machine vision [19] Other Important Information - The company announced a leadership transition in the Audio-Video Business unit, with Gabi Shriki stepping down and a new head to be appointed [21][22] - The company is hosting its first Investor Day on November 12, 2024, to discuss its strategic plan and long-term financial objectives [45] Q&A Session Summary Question: Visibility on inventory and demand - Management indicated that visibility is improving, with a shorter sales cycle and a recovery in the market expected [48] Question: Acroname acquisition integration and traction - The integration of Acroname is proceeding well, with sales being ad hoc and transparent [50][51] Question: OEM wins and vehicle types - The design wins are not limited to EVs; ADAS features are applicable across all vehicle types [52][53] Question: Gross margin expectations for 2025 - Management did not provide specific guidance but noted that gross margins are influenced by the revenue mix between audio-video and automotive segments [54] Question: 10% plus customers during the quarter - There were no customers contributing more than 10% of revenue during the quarter [57] Question: Timing and opportunity size with Stoneridge - The pilot with Stoneridge was successful, and the truck industry is expected to reward the company despite the long timeline [62]

Core Insights - 22nd Century Group, Inc. is expanding its VLN® product distribution, targeting over 270,000 retail outlets and enhancing international activities [1][2][3] - The company has sufficient low nicotine tobacco stock to potentially generate up to $85 million in revenue from VLN® products [4] Group 1: Distribution and Market Expansion - The company plans to expand VLN® sales and marketing operations to all available retail outlets in the US and internationally [2][3] - Currently, VLN® is distributed in approximately 5,100 stores across 26 states, with a total market potential of over 270,000 retail outlets nationwide [2] Group 2: Sales Strategy and Consumer Engagement - The CEO emphasized that smokers are increasingly purchasing VLN® cigarettes, indicating a positive market response [3] - A comprehensive revitalization plan has been developed to enhance consumer engagement and expand distribution [3] Group 3: Financial Position and Inventory - The company holds enough low nicotine tobacco stock to manufacture up to 1.4 million cartons of VLN® and flanker brand cigarettes [4] - This existing inventory is prioritized for market release, with the potential to realize significant revenue before future crops are harvested [4] Group 4: Product Innovation and Regulatory Status - VLN® is the first combustible cigarette to receive a Modified Risk Tobacco Product designation from the FDA, promoting it as a product that helps smokers reduce consumption [6] - The proprietary technology used in VLN® allows for a 95% reduction in nicotine content while maintaining flavor and yield [8]

Valens Semiconductor, Ltd. (VLN) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 42.86%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced a loss of $0.06, delivering a surprise of -100%. Over the last four quarters, the com ...

Exhibit 99.1 VALENS SEMICONDUCTOR LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited) JUNE 30, 2024 VALENS SEMICONDUCTOR LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited) AS OF JUNE 30, 2024 CONTENTS Page CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited)- IN U.S. DOLLARS ($): | Balance sheets | F-2-F-3 | | --- | --- | | Statements of operations | F-4 | | Statements of changes in shareholder's equity | F-5 | | Statements of cash flows | F-6 | | Notes to conso ...

Appointment follows $50 million acquisitions in the market of Valens shares by Value Base Fund and its affiliates HOD HASHARON, Israel, July 23, 2024 /PRNewswire/ -- Valens Semiconductor Ltd. (NYSE: VLN), a leader in high-performance connectivity, today announced the appointment of Tal Yaacobi to its Board of Directors as an independent director and to the Nominating, Governance and Sustainability Committee, effective as of August 8, 2024. The appointment follows acquisitions in the market of Valens shares ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was reported at $11.6 million, exceeding the high end of guidance, compared to $23.9 million in Q1 2023 [9][29] - GAAP gross margin for Q1 2024 was 59%, down from 66.1% in Q1 2023, while non-GAAP gross margin was 62%, down from 67.2% [29][30] - Q1 2024 GAAP net loss was $10.0 million, compared to a net loss of $5.4 million in Q1 2023, with adjusted EBITDA loss of $7.1 million compared to a loss of $2.9 million in Q1 2023 [32][32] Business Line Data and Key Metrics Changes - The automotive segment experienced a revenue reduction due to inventory digestion, while the audio-video market showed potential for growth with new product introductions [7][18] - The VS6320 and VA7000 chipsets are expected to capture significant market opportunities in the audio-video sector, with a total addressable market estimated at approximately $1 billion per annum [11][12] - The automotive business remains stable, with ongoing collaborations and product developments, including a significant milestone with Sony Semiconductor [19][20] Market Data and Key Metrics Changes - The global video conferencing device market is undergoing fundamental shifts, with a projected growth driven by hybrid work and modernization of meeting rooms [12][13] - The automotive market is evolving with increased demand for high-performance connectivity solutions, particularly in the context of advanced driver-assistance systems (ADAS) [22][26] Company Strategy and Development Direction - The company aims to expand collaborations across diverse verticals and capitalize on long-term trends in the audio-video market [8][10] - A modified strategic multiyear plan is expected to be communicated to the market in the coming months, focusing on capturing opportunities in the audio-video sector [11] - The company is committed to investing in innovations and pursuing long-term growth opportunities despite macroeconomic challenges [9][38] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic headwinds, including high interest rates and slow inventory digestion, but expressed confidence in the company's ability to navigate these challenges [7][8] - The outlook for Q2 2024 includes expected revenue in the range of $12.5 million to $13 million, with gross margins projected between 52.0% to 52.5% [35][36] - Management remains optimistic about the medium and long-term growth potential, particularly in untapped markets and verticals [36] Other Important Information - The company ended Q1 2024 with a strong balance sheet, holding $139.8 million in cash and cash equivalents, with no debt [33] - Inventory was reduced to $12.5 million, down from $13.8 million at the end of Q4 2023, indicating effective inventory management [34] Q&A Session Summary Question: Early signs of traction in the AV market for conferencing - Management highlighted the potential for significant market opportunities with the introduction of new chipsets, emphasizing the need for high-performance solutions in hybrid work environments [41][44] Question: Differences in market dynamics between China and global markets - Management discussed the importance of high-quality data for ADAS and the need for stable connectivity solutions, particularly in the context of the Chinese market and partnerships with companies like Black Sesame [46][49] Question: Feedback from educational groups in Florida - Management confirmed active engagement in the education market, noting the importance of hybrid education and the potential for growth in this sector [52][53] Question: Feedback from the trucking industry regarding backup vision technology - Management reported positive feedback from drivers regarding current technology and emphasized future developments in surround view solutions to address blind spots [56][57]

Valens Semiconductor (NYSE:VLN) May 2024 We Push the Boundaries of Connectivity. Everywhere. | --- | --- | --- | --- | |--------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------| | | | | | | A leader in high-performance connectivity, wo ...