Valens Semiconductor backs FY23 revenue view $83.8M-$84.2M, consensus $83.97M

Raises FY23 adjusted EBITDA loss view to $15.6M-$16.2M from $16.5M-$18.3M. Sees FY23 gross margin 62.2%-62.5%. The company said, “For the full year 2023, the company is reaffirming its revenue guidance and improving its Adjusted EBITDA guidance. Revenues are expected to range between $83.8 million and $84.2 million, of which automotive revenues are expected to approximate 30%. Gross margin for the full year 2023 is now expected to range between 62.2% and 62.5%. Adjusted EBITDA loss in 2023 is now expected to be in the range of $(16.2) million to $(15.6) million. We remain on track to achieve Adjusted EBITDA breakeven by the end of 2023 and expect the Company to be cash-flow positive in 2024.”