Automotive Industry Design Wins
Valens Semiconductor Ltd. announced three design wins in the automotive industry for ADAS platforms, providing a strong foothold for A-PHY within the OEM community.
Acquisition of AkerLane
Successfully completed the acquisition of AkerLane, which is expected to expand Valens' position in the industrial market with a holistic USB-focused offering.
Release of VS6320 Chipset
Introduced the VS6320 chipset, the first 8-gigabyte USB 3.2 high-performance extension solution on the market, showing potential for growth in video conferencing and other markets.
Financial Performance Exceeding Guidance
Reported Q4 revenues of $16.7 million, exceeding the top end of the guidance, and a gross margin of 60.4%, above the midpoint of the guidance.
Strong Balance Sheet
Valens ended 2024 with $131 million in cash and cash equivalents, maintaining a robust financial position with no debt.