Valens Semiconductor .(US:VLN)2023-05-15 10:50Financial Performance & Outlook - Valens Semiconductor reported Q1 2023 revenue of $23.9 million, compared to $21.6 million in Q1 2022[29] - The company's gross margin for Q1 2023 was 66.1% (non-GAAP: 67.2%), while Q1 2022 was 71.4% (non-GAAP: 72.1%)[29] - Adjusted EBITDA for Q1 2023 was a loss of $(2.9) million, compared to a loss of $(4.1) million in Q1 2022[29] - Valens targets Adjusted EBITDA breakeven towards the end of 2023 and aims to be cash flow positive starting in 2024[8, 30] - The company expects full year 2023 revenue to be in the range of $97 million to $100 million, with a gross margin between 62% and 62.7%, and an Adjusted EBITDA loss between $(15.4) million and $(13.6) million[8, 30] Business Segments & Market Opportunities - Valens operates in the audio-video and automotive markets, leveraging its connectivity technology across both segments[8] - The company's VA6000 automotive chipsets for infotainment (2Gbps) have been in mass production since September 2020, showing substantial year-over-year growth[10] - The VA7000 automotive product family for ADAS and Autonomous Driving (8 Gbps) was selected as the baseline for the A-PHY standard for in-vehicle high-speed connectivity[10] - Valens estimates the high-speed video connectivity automotive TAM (2025-2026) to be over $8 billion, with approximately 100 million cars manufactured per year[23] Strategic Initiatives & ESG - Valens is focused on maximizing Environmental, Social, and Governance (ESG) opportunities and managing ESG risks, targeting carbon neutrality by 2039[25]