NYSE : VLN
Valens Semiconductor Ltd. — Financial statements
Technology · Semiconductors · Israel
Last price 1.51 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 163.50M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Valens Semiconductor Ltd. (VLN) reported revenue of 71.70M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 71.70M | 70.62M | 57.86M | 84.16M | 90.72M | 70.68M |
| Cost of Revenue | 27.41M | 26.54M | 23.58M | 31.57M | 27.32M | 20.11M |
| Gross Profit | 44.29M | 44.09M | 34.28M | 52.59M | 63.39M | 50.58M |
| Selling, General & Admin | 35.94M | 35.65M | 34.77M | 31.34M | 33.55M | 25.27M |
| Research & Development | 42.24M | 42.66M | 40.48M | 48.17M | 58.21M | 46.88M |
| Operating Expenses | 78.18M | 78.31M | 75.24M | 79.51M | 91.76M | 72.15M |
| Operating Income | -33.88M | -34.22M | -40.97M | -26.92M | -28.37M | -21.57M |
| Interest Expense | -31.00K | |||||
| Interest & Investment Income | 3.43M | 4.20M | 6.12M | 6.67M | 2.30M | 311.00K |
| Earnings From Equity Investments | 9.00K | 9.00K | 23.00K | 18.00K | 16.00K | 10.00K |
| Currency Exchange Gain (Loss) | -1.59M | -818.00K | -660.00K | -1.08M | -4.38M | 1.29M |
| Other Non Operating Income (Expenses) | -83.00K | -759.00K | -629.00K | 1.76M | 3.22M | -646.00K |
| EBT Excluding Unusual Items | -32.12M | -31.59M | -36.11M | -19.55M | -27.22M | -20.63M |
| Merger & Restructuring Charges | -5.50M | |||||
| Other Unusual Items | -212.00K | 169.00K | -377.00K | |||
| Pretax Income | -32.33M | -31.43M | -36.49M | -19.55M | -27.22M | -26.13M |
| Income Tax Expense | 100.00K | 158.00K | 96.00K | 112.00K | 451.00K | 407.00K |
| Net Income | -32.43M | -31.58M | -36.58M | -19.66M | -27.67M | -26.53M |
| Preferred Dividends & Other Adjustments | 11.33M | |||||
| Net Income to Common | -32.43M | -31.58M | -36.58M | -19.66M | -27.67M | -37.86M |
| Shares Outstanding (Basic) | 104.01M | 103.14M | 105.48M | 101.99M | 97.82M | 33.03M |
| Shares Outstanding (Diluted) | 104.01M | 103.14M | 105.48M | 101.99M | 97.82M | 33.03M |
| EPS (Basic) | -0.31 | -0.31 | -0.35 | -0.19 | -0.28 | -1.15 |
| EPS (Diluted) | -0.31 | -0.31 | -0.35 | -0.19 | -0.28 | -1.15 |
| Free Cash Flow | -14.77M | -13.79M | -848.00K | -7.54M | -23.20M | -23.05M |
| Free Cash Flow Per Share | -0.14 | -0.13 | -0.01 | -0.07 | -0.24 | -0.70 |
| Gross Margin | 61.78% | 62.42% | 59.24% | 62.49% | 69.88% | 71.56% |
| Operating Margin | -47.25% | -48.46% | -70.80% | -31.98% | -31.27% | -30.52% |
| Profit Margin | -45.23% | -44.72% | -63.23% | -23.36% | -30.50% | -53.57% |
| Free Cash Flow Margin | -20.60% | -19.52% | -1.47% | -8.96% | -25.58% | -32.61% |
| EBITDA | -31.20M | -31.24M | -38.42M | -25.29M | -26.99M | -20.47M |
| EBITDA Margin | -43.52% | -44.24% | -66.40% | -30.04% | -29.75% | -28.96% |
| D&A For EBITDA | 2.68M | 2.98M | 2.55M | 1.63M | 1.38M | 1.10M |
| EBIT | -33.88M | -34.22M | -40.97M | -26.92M | -28.37M | -21.57M |
| EBIT Margin | -47.25% | -48.46% | -70.80% | -31.98% | -31.27% | -30.52% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 42.56M | 27.86M | 35.42M | 17.26M | 20.02M | 56.79M |
| Short-Term Investments | 40.87M | 64.73M | 95.53M | 124.76M | 128.36M | 117.57M |
| Cash & Short-Term Investments | 83.43M | 92.60M | 130.96M | 142.02M | 148.39M | 174.36M |
| Receivables | 8.87M | 9.97M | 7.75M | 14.64M | 11.51M | 7.09M |
| Inventory | 12.51M | 10.12M | 10.15M | 13.84M | 23.82M | 9.32M |
| Prepaid Expenses | 4.11M | 4.84M | 3.90M | 4.20M | 4.79M | 8.26M |
| Restricted Cash | 1.12M | 1.13M | 1.14M | |||
| Total Current Assets | 110.04M | 118.66M | 153.90M | 174.69M | 188.51M | 199.03M |
| Property, Plant & Equipment | 8.77M | 9.80M | 10.71M | 5.16M | 6.61M | 2.74M |
| Long-Term Investments | 16.00K | 33.00K | 16.00K | 17.00K | 17.00K | |
| Goodwill | 1.85M | 1.85M | 1.85M | |||
| Other Intangible Assets | 3.29M | 3.76M | 4.70M | |||
| Other Long-Term Assets | 686.00K | 616.00K | 959.00K | 692.00K | 518.00K | 811.00K |
| Total Assets | 124.63M | 134.70M | 172.15M | 180.56M | 195.66M | 202.60M |
| Accounts Payable | 5.61M | 4.70M | 6.00M | 4.95M | 10.65M | 4.49M |
| Accrued Expenses | 13.62M | 14.01M | 12.05M | 9.18M | 11.81M | 11.17M |
| Current Portion of Leases | 1.67M | 1.53M | 975.00K | 1.77M | 1.81M | |
| Current Income Taxes Payable | 57.00K | 347.00K | 31.00K | 36.00K | 514.00K | 40.00K |
| Other Current Liabilities | 166.00K | 2.36M | 1.27M | |||
| Total Current Liabilities | 21.12M | 22.93M | 20.33M | 15.93M | 24.79M | 15.70M |
| Long-Term Leases | 6.35M | 6.72M | 6.64M | 190.00K | 1.62M | |
| Other Long-Term Liabilities | 106.00K | 67.00K | 2.49M | 133.00K | 1.80M | 4.70M |
| Total Liabilities | 27.57M | 29.72M | 29.46M | 16.25M | 28.22M | 20.40M |
| Common Stock | 49.00K | 49.00K | 49.00K | 49.00K | 49.00K | 49.00K |
| Additional Paid-In Capital | 358.43M | 360.01M | 357.57M | 341.59M | 325.07M | 312.16M |
| Retained Earnings | -261.84M | -245.50M | -213.92M | -177.34M | -157.68M | -130.01M |
| Treasury Stock | -10.01M | -1.61M | ||||
| Comprehensive Income & Other | 417.00K | 429.00K | 601.00K | |||
| Total Common Equity | 97.05M | 104.98M | 142.69M | 164.30M | 167.44M | 182.20M |
| Shareholders' Equity | 97.05M | 104.98M | 142.69M | 164.30M | 167.44M | 182.20M |
| Total Liabilities & Equity | 124.63M | 134.70M | 172.15M | 180.56M | 195.66M | 202.60M |
| Total Debt | 8.02M | 8.24M | 7.62M | 1.96M | 3.44M | |
| Net Cash (Debt) | 75.42M | 84.35M | 123.33M | 140.06M | 144.95M | 174.36M |
| Net Cash Per Share | 0.73 | 0.82 | 1.17 | 1.37 | 1.48 | 5.28 |
| Filing Date Shares Outstanding | 108.28M | 105.29M | 105.72M | 105.21M | 102.39M | 98.13M |
| Total Common Shares Outstanding | 108.28M | 103.05M | 106.99M | 103.15M | 98.88M | 98.13M |
| Working Capital | 88.92M | 95.72M | 133.58M | 158.76M | 163.72M | 183.33M |
| Book Value Per Share | 0.90 | 1.02 | 1.33 | 1.59 | 1.69 | 1.86 |
| Tangible Book Value | 91.92M | 99.37M | 136.14M | 164.30M | 167.44M | 182.20M |
| Tangible Book Value Per Share | 0.85 | 0.96 | 1.27 | 1.59 | 1.69 | 1.86 |
| Machinery | 13.71M | 12.77M | 10.68M | 8.88M | 7.46M | |
| Leasehold Improvements | 1.26M | 726.00K | 657.00K | 657.00K | 657.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -32.43M | -31.58M | -36.58M | -19.66M | -27.67M | -26.53M |
| Depreciation & Amortization | 2.68M | 2.98M | 2.55M | 1.63M | 1.38M | 1.10M |
| Loss (Gain) on Equity Investments | 12.00K | 17.00K | 17.00K | 1.00K | 18.00K | |
| Stock-Based Compensation | 14.85M | 16.54M | 15.12M | 15.03M | 12.09M | 9.87M |
| Other Operating Activities | 3.54M | 3.69M | 3.35M | 258.00K | 1.86M | -236.00K |
| Change in Accounts Receivable | -771.00K | -2.25M | 7.18M | -3.17M | -4.42M | 1.58M |
| Change in Inventory | -1.11M | -178.00K | 6.18M | 9.98M | -14.49M | -6.16M |
| Change in Accounts Payable | 501.00K | -1.53M | 594.00K | -6.37M | 5.84M | 2.63M |
| Change in Other Net Operating Assets | -1.19M | -401.00K | 2.61M | -4.05M | 3.31M | -3.88M |
| Operating Cash Flow | -13.94M | -12.72M | 1.02M | -6.36M | -22.09M | -21.61M |
| Capital Expenditures | -835.00K | -1.07M | -1.87M | -1.19M | -1.11M | -1.44M |
| Cash Acquisitions | -7.80M | |||||
| Investment in Securities | 15.99M | 30.42M | 28.57M | 2.54M | -10.62M | -82.72M |
| Other Investing Activities | -651.00K | -1.32M | -1.12M | |||
| Investing Cash Flow | 14.50M | 28.03M | 17.78M | 1.35M | -11.73M | -84.16M |
| Issuance of Common Stock | 2.70M | 903.00K | 861.00K | 1.50M | 822.00K | 1.25M |
| Repurchase of Common Stock | -4.23M | -23.99M | -1.02M | |||
| Other Financing Activities | -1.96M | 134.19M | ||||
| Financing Cash Flow | -3.49M | -23.09M | -155.00K | 1.50M | 822.00K | 135.43M |
| Foreign Exchange Rate Adjustments | 15.00K | 217.00K | -483.00K | 746.00K | -3.77M | 816.00K |
| Net Cash Flow | -2.91M | -7.56M | 18.16M | -2.76M | -36.77M | 30.48M |
| Free Cash Flow | -14.77M | -13.79M | -848.00K | -7.54M | -23.20M | -23.05M |
| Free Cash Flow Margin | -20.60% | -19.52% | -1.47% | -8.96% | -25.58% | -32.61% |
| Free Cash Flow Per Share | -0.14 | -0.13 | -0.01 | -0.07 | -0.24 | -0.70 |
| Levered Free Cash Flow | -6.99M | -4.00M | 5.11M | -2.71M | -13.55M | -9.31M |
| Unlevered Free Cash Flow | -6.99M | -4.00M | 5.11M | -2.71M | -13.55M | -9.29M |
| Cash Income Tax Paid | 163.00K | 163.00K | 122.00K | 293.00K | 214.00K | 417.00K |
| Change in Working Capital | -2.57M | -4.36M | 16.57M | -3.62M | -9.76M | -5.83M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 159.17M | 145.36M | 276.35M | 254.15M | 533.98M | 755.33M |
| Enterprise Value | 83.76M | 60.00M | 149.68M | 113.70M | 384.71M | 549.71M |
| Last Close Price | 1.51 | 1.42 | 2.60 | 2.45 | 5.37 | 7.70 |
| PS Ratio | 2.28 | 2.06 | 4.78 | 3.02 | 5.89 | 10.69 |
| PB Ratio | 1.68 | 1.39 | 1.94 | 1.55 | 3.19 | 4.15 |
| P/TBV Ratio | 1.78 | 1.46 | 2.03 | 1.55 | 3.19 | 4.15 |
| P/OCF Ratio | 271.20 | |||||
| EV/Sales Ratio | 1.23 | 0.85 | 2.59 | 1.35 | 4.24 | 7.78 |
| Debt / Equity Ratio | 0.08 | 0.08 | 0.05 | 0.01 | 0.02 | |
| Net Debt / Equity Ratio | -0.78 | -0.80 | -0.86 | -0.85 | -0.87 | -0.96 |
| Net Debt / EBITDA Ratio | 2.42 | 2.70 | 3.21 | 5.54 | 5.37 | 8.52 |
| Net Debt / FCF Ratio | 5.11 | 6.12 | 145.44 | 18.57 | 6.25 | 7.56 |
| Asset Turnover | 0.53 | 0.46 | 0.33 | 0.45 | 0.46 | 0.50 |
| Inventory Turnover | 2.28 | 2.62 | 1.97 | 1.68 | 1.65 | 3.22 |
| Quick Ratio | 4.37 | 4.47 | 6.82 | 9.83 | 6.45 | 11.56 |
| Current Ratio | 5.21 | 5.17 | 7.57 | 10.97 | 7.61 | 12.68 |
| Return on Equity (ROE) | -30.38% | -25.50% | -23.83% | -11.85% | -15.83% | -21.26% |
| Return on Assets (ROA) | -15.72% | -13.94% | -14.52% | -8.94% | -8.90% | -9.57% |
| Return on Capital Employed (ROCE) | -32.70% | -30.60% | -27.00% | -16.40% | -16.60% | -11.50% |
| Earnings Yield | -21.21% | -21.73% | -13.24% | -7.74% | -5.18% | -3.51% |
| FCF Yield | -9.03% | -9.49% | -0.31% | -2.97% | -4.35% | -3.05% |
| Buyback Yield / Dilution | 1.31% | 2.21% | -3.42% | -4.26% | -196.15% | -216.14% |