Valens Semiconductor sees FY23 revenue $97M-$100M, consensus $112.01M

"For the full year 2023, the company expects revenues to range between $97 million and $100 million. We expect sales growth to be a little bit steeper in the second half of the year. Gross margin for the full year 2023 is expected to range between 62.0% and 62.7%, as we anticipate substantially more automotive revenue in 2023 compared to 2022, up from 18% of our total annual revenues in 2022, to a range of 27%-29% in 2023. Adjusted EBITDA loss in 2023, is expected to be in the range of $(15.4) million to $(13.6) million. We remain on track to achieve Adjusted EBITDA breakeven by the end of 2023, and to be cashflow positive starting in 2024," concluded Heldenberg.