Valens Semiconductor Raises Q2 Guidance In Anticipation Of Improved Customer Demand, Now Sees Revenue Of $12.5M-$13.0M Vs Prior View Of Relatively Flat To Q1 (Est $11.35M)

"The macroeconomic landscape continues to be challenging with ongoing short lead times, causing uncertain order activity and inventory consumption by our customers," said Guy Nathanzon, CFO of Valens Semiconductor. "Due to slightly improved customer demand, second quarter revenues are now expected to range between $12.5 million and $13.0 million, higher than the initial expectations we provided last quarter. Gross margin is expected to range between 52.0% and 52.5%, and adjusted EBITDA loss is expected to be in the range of $(8.3) million and $(8.0) million.