Valens Semiconductor (VLN) investor relations material

Executive summary

• Q2 2026 revenue reached $18.1 million, surpassing guidance and up from $16.9 million in Q1 2026 and $17.1 million in Q2 2025, driven by strong demand in both cross-industry and automotive segments.

• Gross margin was 61.5% GAAP and 64.3% non-GAAP, within guidance.

• Adjusted EBITDA loss was $4.2 million, better than anticipated, while GAAP net loss was $8.1 million.

• Automotive business contributed $5 million in revenue, with four design wins progressing toward production and ramp expected in 2027.

• Full-year 2026 revenue guidance was raised to $78–$81 million, implying 13% year-over-year growth at the midpoint.

Financial highlights

• Q2 2026 revenue: $18.1 million (Q1 2026: $16.9 million; Q2 2025: $17.1 million).

• Gross profit: $11.1 million; gross margin: 61.5% GAAP, 64.3% non-GAAP.

• Adjusted EBITDA loss: $4.2 million (Q1 2026: $5.5M loss; Q2 2025: $4M loss).

• GAAP net loss: $8.1 million; GAAP loss per share: $0.08; non-GAAP loss per share: $0.04.

• Cash and equivalents: $83.4 million as of June 30, 2026; no debt.

Outlook and guidance

• Q3 2026 revenue expected between $21.3 million and $21.7 million.

• Q3 2026 gross margin expected at 60%–62%; adjusted EBITDA loss between $3.4 million and $2.8 million.

• Full-year 2026 revenue guidance raised to $78–$81 million, up from $75–$77 million.