Valens Semiconductor Ltd. reported fourth quarter 2024 revenues of $16.665 million, exceeding the top end of its guidance and marking the fourth consecutive quarter of revenue growth. The company achieved a GAAP gross margin of 60.4% and a non-GAAP gross margin of 64.5% for the quarter.
For the full year 2024, Valens Semiconductor reported total revenues of $57.859 million, with a GAAP gross margin of 59.2% and a non-GAAP gross margin of 62.9%. The company ended the year with a strong liquidity position, holding $130.955 million in cash, cash equivalents, and short-term deposits.
Valens announced a new share repurchase program of up to $15 million, following the completion of a previous $10 million program. This new program reflects the company's confidence in its long-term growth and commitment to enhancing shareholder value.
For the first quarter of 2025, Valens Semiconductor is targeting revenues between $16.3 million and $16.6 million, with a gross margin between 60.8% and 61.3%. The full-year 2025 revenue guidance remains in the range of $71 million to $76 million.
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