Provides 2025 revenue guidance and long-term
financial goals
HOD HASHARON, Israel, Nov. 12,
2024 /PRNewswire/ -- Valens Semiconductor (NYSE:
VLN), a leader in high-performance connectivity, today will host
its 2024 Investor Day in New York
City where management will provide an overview of the
Company's go-forward strategy, growth drivers, product innovation
and long-term financial goals.
The event will be led by Gideon
Ben-Zvi, Chief Executive Officer, and will also feature
presentations from Guy Nathanzon, Chief Financial Officer, and Dana
Zelitzki, Senior Vice President of Marketing.
The Company will share its strategy and growth drivers in the
Professional Audio-Video, Video Conferencing, Industrial Machine
Vision, Automotive, Medical markets, and through potential
synergetic acquisitions.
Driven by these strategic initiatives, Valens Semiconductor's
financial goals by the end of 2029 are as follows:
- Total revenue is expected to be between $220 - $300
million, gross margin of between 50% - 60%:
- Professional Audio-Video revenues of between $90 - $100 million
and gross margin between 65% - 75%.
- Industrial Machine Vision revenues of between $35 -$50 million
and gross margin between 55% - 65%.
- Automotive revenues of between $65 - $110 million
and gross margin between 35% -45%.
- Acquisitions are expected to contribute revenues of between
$30 - $40
million depending on potential acquisition
opportunities.
- Adjusted EBITDA margin is expected to be between 15% -
20%[1].
- In the following years, Valens expects:
- Significant automotive revenue scale with ADAS deployment
within the existing and new OEMs.
- Potential upside from single use endoscopy.
The Company will also provide revenue guidance for the full year
2025 of between $71 - $76 million or 25% - 33% YoY growth, as well as a
few additional business goals.
Additionally, Valens will also update its full year 2024 revenue
guidance of $57.2 - $57.5 million to include the following
breakdown:
- Audio-video revenue is expected to be between $32.8 - $33.0
million.
- Automotive revenue is expected to be between $21.4 - $21.5
million.
- Acroname's revenue is expected to be $3
million.
Event Details
The Investor Day will begin at 12:00 pm
ET and is expected to conclude at 2:30 pm ET. Due to limited capacity, in-person
attendance is by invitation only. A live broadcast of the event
will be available starting at 1:00 pm
ET
at https://valens.zoom.us/webinar/register/WN_t5qmtJrtTHa2Ubm-8RfvHQ.
A webcast replay will be available following the conclusion of
the event and related presentations will remain accessible in the
investor relations section of the Company's website.
About Valens Semiconductor
Valens Semiconductor (NYSE: VLN) is a leader in high-performance
connectivity, enabling customers to transform the digital
experiences of people worldwide. Valens' chipsets are integrated
into countless devices from leading customers, powering
state-of-the-art audio-video installations, next-generation
videoconferencing, and enabling the evolution of ADAS and
autonomous driving. Pushing the boundaries of connectivity, Valens
sets the standard everywhere it operates, and its technology forms
the basis for the leading industry standards such as HDBaseT® and
MIPI A-PHY. For more information, visit
https://www.valens.com/.
Forward-Looking-Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding our anticipated future results, including
financial results such as financial goals for 2029, potential
acquisition opportunities, currency exchange rates, and contract
wins, and future economic and market conditions. These statements
are based on various assumptions, whether or not identified in this
press release, and on the current expectations of Valens
Semiconductor's ("Valens") management and are not predictions of
actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as and
must not be relied on by any investor as a guarantee, an assurance,
a prediction or a definitive statement of fact or probability.
Actual events and circumstances are difficult or impossible to
predict and will differ from assumptions. Many actual events and
circumstances are beyond the control of Valens Semiconductor. These
forward-looking statements are subject to a number of risks and
uncertainties, including the cyclicality of the semiconductor
industry; the effect of inflation and a rising interest rate
environment on our customers and industry; the ability of our
customers to absorb inventory; competition in the semiconductor
industry, and the failure to introduce new technologies and
products in a timely manner to compete successfully against
competitors; if Valens fails to adjust its supply chain volume due
to changing market conditions or fails to estimate its customers'
demand; disruptions in relationships with any one of Valens' key
customers; any difficulty selling Valens' products if customers do
not design its products into their product offerings; Valens'
dependence on winning selection processes; even if Valens succeeds
in winning selection processes for its products, Valens may not
generate timely or sufficient net sales or margins from those wins;
sustained yield problems or other delays or quality events in the
manufacturing process of products; our ability to effectively
manage, invest in, grow, and retain our sales force, research and
development capabilities, marketing team and other key personnel;
our ability to timely adjust product prices to customers following
price increase by the supply chain; our ability to adjust our
inventory level due to reduction in demand due to inventory buffers
accrued by customers; our expectations regarding the outcome of any
future litigation in which we are named as a party; our ability to
adequately protect and defend our intellectual property and other
proprietary rights; our ability to successfully integrate or
otherwise achieve anticipated benefits from acquired businesses;
the market price and trading volume of the Valens ordinary shares
may be volatile and could decline significantly; political,
economic, governmental and tax consequences associated with our
incorporation and location in Israel; and those factors discussed in Valens'
Form 20-F filed with the SEC on February 28,
2024 under the heading "Risk Factors," and other documents
of Valens filed, or to be filed, with the SEC. If any of these
risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Valens does not presently know or that Valens currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Valens' expectations, plans or
forecasts of future events and views as of the date of this press
release. Valens anticipates that subsequent events and developments
may cause Valens' assessments to change. However, while Valens may
elect to update these forward-looking statements at some point in
the future, Valens specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing Valens' assessment as of any date subsequent to the
date of this press release. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
Investor Contacts:
Michal Ben Ari
Investor Relations Manager
Valens Semiconductor Ltd.
Michal.Benari@valens.com
Lisa Fortuna
Senior Vice President
Financial Profiles, Inc.
ValensIR@finprofiles.com
[1] Although we provide guidance for Adjusted EBITDA
margin, we are not able to provide guidance for projected Net
profit (loss) margin, the most directly comparable GAAP measures.
Certain elements of Net profit (loss), including share-based
compensation expenses and warrant valuations, are not predictable
due to the high variability and difficulty of making accurate
forecasts. As a result, it is impractical for us to provide
guidance on Net profit (loss) margin or to reconcile our Adjusted
EBITDA margin guidance without unreasonable efforts. Consequently,
no disclosure of projected Net profit (loss) margin is included.
For the same reasons, we are unable to address the probable
significance of the unavailable information.
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SOURCE Valens Semiconductor