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Valens Semiconductor Reports Fourth Quarter and Full Year 2023 Results [Yahoo! Finance]

Valens Semiconductor Ltd. (VLN) 
Company Research Source: Yahoo! Finance
HOD HASHARON, Israel Feb. 28, 2024 /PRNewswire/ -- Valens Semiconductor Ltd. (NYSE: VLN), a leader in high-performance connectivity, today reported financial results for the fourth quarter and full year ended December 31, 2023 "Valens Semiconductor demonstrated both its resilience and innovation in 2023. Against a backdrop of increasing headwinds in the global semiconductor industry, we continued to expand our engagements and partnerships and to enhance our lineup of high-performance connectivity solutions with a focus on addressing unmet needs and emerging trends," said Gideon Ben-Zvi , CEO of Valens Semiconductor. "Revenues were at the top end of our guidance for both the fourth quarter and the full year, reaching $21.9 million and $84.2 million , respectively. Notably, automotive revenues delivered a record high, contributing over 30% to total revenues. "We implemented our vision for a holistic strategy that leverages Valens Semiconductor's core technology to power cross-indus Show less Read more
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