Valens Posts Third-Quarter Revenue of $21.9 Million, Up 26.5% Year Over Year
Key Facts
Valens Semiconductor said on November 11 that revenue for the third quarter ended September 30 was $21.9 million, up 26.5% year over year from $17.3 million in the same period of 2025. Revenue exceeded the average analyst estimate of $20.8 million and topped the company’s previous range of $21.3 million to $21.7 million. CEO Yoram Salinger said the company "exceeded its guidance and delivered revenue of $21.9 million" during the quarter. The company’s shares rose 8% in premarket trading after the announcement. The results put revenue growth and an improvement in adjusted operating losses, alongside reaffirmed annual guidance, at the center of the assessment of the company’s performance for the rest of the year.
Quarterly revenue was split between the automotive segment and the multiple markets business, with a clear difference in their size and contribution to the total. Automotive revenue was $7.9 million, or 35% of revenue, compared with $4.1 million in the third quarter of 2025. The multiple markets business generated $14 million, or 65% of the total, versus $13.2 million a year earlier. Automotive revenue was therefore above its year-earlier level, while the multiple markets business also recorded an increase from the comparable period. This breakdown shows the sources of quarterly revenue alongside overall sales growth that exceeded analyst estimates and company guidance.
On profitability, Valens reported an adjusted loss per share of $0.02, matching analyst estimates. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) loss was $2.7 million, below the company’s quarterly loss range of $2.8 million to $3.4 million. It also improved from a loss of $4.3 million in the third quarter of 2025. The figures indicate that the company delivered revenue above its forecast and an adjusted EBITDA loss below the low end of the loss range it had guided for the quarter. Adjusted profitability remained negative, however, as reflected in the adjusted loss per share of $0.02.
The company reaffirmed its fiscal 2026 revenue outlook range of $78 million to $81 million and said it was targeting the high end of the range. It also expects an adjusted EBITDA loss for the year of $12.9 million to $14.9 million. The reaffirmation follows third-quarter revenue exceeding the quarterly guidance range, while the annual adjusted loss remains part of the outlook presented by the company. No change to the two limits of the annual revenue range was announced: Valens kept them unchanged and said it was targeting the high end. The company is scheduled to hold its earnings call on November 11 at 8:30 a.m. Eastern Time, after announcing results before the market opened.
Cash and cash equivalents and short-term deposits totaled $74.7 million on September 30, 2026, compared with $92.6 million on December 31, 2025. That left the quarter-end liquidity balance below its level at the end of last year, with $74.7 million remaining among the balances reported by the company. In the background, second-quarter 2026 revenue was $18.1 million, compared with $16.9 million in the first quarter and $17.1 million in the second quarter of 2025. In its second-quarter results, the company had said four automotive design-win programs were progressing toward production, with revenue from them expected to begin ramping up in 2027. It also announced that Barco had selected its HDBaseT chips to power the ClickShare USB-C Extension over CAT kit.