Revenue increased, but the company remained loss-making
Valens Semiconductor reported third-quarter revenue of $21.912 million for the period ended September 30, 2026, compared with $17.335 million a year earlier and $18.1 million in the preceding quarter. Its November 11 release says the result exceeded its earlier quarterly guidance of $21.3 million to $21.7 million.
The GAAP net loss narrowed to $5.498 million from $7.321 million a year earlier. Adjusted EBITDA was separately a loss of $2.748 million, versus a loss of $4.297 million. The adjusted figure excludes items specified in the issuer’s reconciliation and should not be read as GAAP profit or operating cash flow.
Automotive and cross-industry revenue
Valens reported $14.0 million of cross-industry revenue and $7.9 million of automotive revenue, using the release’s rounded segment figures. Automotive revenue compares with $4.1 million a year earlier.
GAAP gross margin was 62.2%, compared with 63.0% in the prior-year quarter. Non-GAAP gross margin was 64.4%, a different measure rather than an additional margin to add to the GAAP figure.
The annual outlook is still a forecast
Valens reaffirmed full-year 2026 revenue guidance of $78 million to $81 million, saying it expects the upper end of that range. It expects an adjusted EBITDA loss between $14.9 million and $12.9 million; those are forward-looking expectations, not completed-year results.
Cash, cash equivalents and short-term deposits totaled $74.7 million at September 30, down from $83.4 million at June 30. That combined balance should not be described as cash alone. The release gives no GAAP net-loss forecast because some adjustments cannot be reliably predicted; it does not establish profitability or an investment return.
