Valens Semiconductor ups FY22 revenue view to $90.3M-$90.4M from $89.1M-$89.8M

Consensus $89.45M. "For the fourth quarter of 2022, revenues are expected to range between $23.1 million and $23.2 million. Gross margin is expected to range between 66.1% and 66.5%, and Adjusted EBITDA loss is expected to be in the range of $(9.7) million to $(9.0) million. The projected increase in research and development expenses in Q4 is mainly due to our plan to tape-out our automotive VA7000 chipset family, to deliver richer feature set and better performance. This is another crucial step toward our customers’ mass production plans. For the full year 2022, the company now expects revenues to range between $90.3 million and $90.4 million, up from the prior range of between $89.1 million and $89.8 million. Gross margin for the full year 2022 is expected to range between 69.3% and 69.4%, up from the prior range of 68.0% to 68.5%, and adjusted EBITDA loss is expected to be in the range of $(20.0) million to $(19.3) million, substantially better than our previous guidance of $(25.7) million to $(24.2) million. This improvement in adjusted EBITDA is driven mainly by aligning our product roadmap to our customers’ needs and is also supported by the expected benefit from the strong USD on our Israeli shekel-based expenses."