Valens Semiconductor Ltd. (VLN) Income Statement
VLN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVLN revenue and net income
Where VLN's revenue goes
2025Each bar shows an amount and its share of revenue. VLN kept −44.7% of revenue as net income.
VLN profit margins
VLN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.1% | −8.0% | +4.4% | — |
| Gross profit | +28.6% | −11.4% | +0.3% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VLN quarterly EPS vs estimates
Valens Semiconductor beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.06).
VLN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $70.6M | $57.9M | $84.2M | $90.7M | $70.7M | $56.9M | $60.0M |
| Cost of revenue | $26.5M | $23.6M | $31.6M | $27.3M | $20.1M | $13.4M | $12.6M |
| Gross profit | $44.1M | $34.3M | $52.6M | $63.4M | $50.6M | $43.5M | $47.5M |
| Research & development | $42.7M | $40.5M | $48.2M | $58.2M | $46.9M | $44.7M | $52.7M |
| Sales, general & admin | $35.7M | $34.8M | $31.3M | $33.6M | $30.8M | $21.5M | $22.7M |
| Total operating expenses | $78.3M | $75.6M | $79.5M | $91.8M | $77.6M | $66.3M | $75.4M |
| Operating income | −$34.2M | −$41.3M | −$26.9M | −$28.4M | −$27.1M | −$22.8M | −$28.0M |
| Interest income | $4.2M | $6.1M | $6.7M | $828,000 | $1.4M | $6,040 | $2.6M |
| Interest expense | $109,000 | $57,000 | $46,000 | $2.6M | $31,000 | $32,000 | $109,000 |
| Income before taxes | −$31.4M | −$36.5M | −$19.6M | −$27.2M | −$26.1M | −$19.5M | −$25.5M |
| Income taxes | $158,000 | $96,000 | $112,000 | $451,000 | $407,000 | $164,000 | $414,000 |
| Net income | −$31.6M | −$36.6M | −$19.7M | −$27.7M | −$26.5M | −$19.6M | −$25.9M |
| EBITDA | −$28.4M | −$33.9M | −$17.9M | −$25.9M | −$25.0M | −$18.4M | −$24.4M |
| EPS (diluted) | −$0.15 | −$0.15 | −$0.10 | −$0.15 | −$0.74 | −$1.35 | −$0.58 |
| Gross margin | 62.4% | 59.2% | 62.5% | 69.9% | 71.6% | 76.4% | 79.0% |
| Operating margin | −48.5% | −71.5% | −32.0% | −31.3% | −38.3% | −40.0% | −46.6% |
| Net margin | −44.7% | −63.2% | −23.4% | −30.5% | −37.5% | −34.5% | −43.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.1M | $16.9M | $19.4M | $17.3M | $17.1M | $16.8M | $16.7M | $16.0M | $13.6M | $11.6M | $21.9M | $14.2M |
| Cost of revenue | $7.0M | $6.4M | $7.7M | $6.4M | $6.2M | $6.2M | $6.6M | $7.0M | $5.3M | $4.7M | $8.4M | $5.8M |
| Gross profit | $11.1M | $10.5M | $11.7M | $10.9M | $10.8M | $10.6M | $10.1M | $9.0M | $8.3M | $6.8M | $13.5M | $8.3M |
| Research & development | $10.1M | $10.3M | $11.1M | $10.8M | $10.2M | $10.6M | $10.1M | $10.3M | $10.0M | $10.1M | $8.6M | $13.4M |
| Sales, general & admin | $9.0M | $9.4M | $10.1M | $7.4M | $3.7M | $9.3M | $8.3M | $10.7M | $7.8M | $8.0M | $6.6M | $7.9M |
| Total operating expenses | $19.1M | $19.7M | $21.2M | $19.0M | $18.2M | $20.0M | $18.5M | $21.0M | $17.8M | $18.1M | $15.3M | $21.3M |
| Operating income | −$7.9M | −$9.2M | −$9.4M | −$8.0M | −$7.4M | −$9.5M | −$8.4M | −$12.0M | −$9.4M | −$11.3M | −$1.7M | −$12.9M |
| Interest income | $712,000 | $839,000 | $888,000 | $988,000 | $248,000 | $1.2M | $1.2M | $1.6M | $1.3M | — | — | — |
| Interest expense | $11,000 | $12,000 | $12,000 | $14,000 | $23,000 | $60,000 | — | $11,000 | $9,000 | $9,000 | — | $46,000 |
| Income before taxes | −$8.0M | −$8.3M | −$8.7M | −$7.3M | −$7.2M | −$8.2M | −$7.3M | −$10.3M | −$8.8M | −$10.0M | $2.8M | −$12.5M |
| Income taxes | $29,000 | $27,000 | $30,000 | $14,000 | $21,000 | $93,000 | $44,000 | −$14,000 | $21,000 | $17,000 | $51,000 | $16,000 |
| Net income | −$8.1M | −$8.3M | −$8.8M | −$7.3M | −$7.2M | −$8.3M | −$7.3M | −$10.4M | −$8.9M | −$10.0M | $2.8M | −$12.5M |
| EBITDA | −$7.3M | −$7.3M | −$8.0M | −$6.6M | −$7.5M | −$8.5M | −$3.0M | −$9.5M | −$8.9M | −$9.6M | $3.3M | −$12.1M |
| EPS (diluted) | −$0.07 | −$0.05 | −$0.04 | −$0.04 | −$0.04 | −$0.03 | −$0.02 | −$0.03 | −$0.04 | −$0.06 | $0.06 | −$0.08 |
| Gross margin | 61.5% | 62.2% | 60.5% | 63.0% | 63.5% | 62.9% | 60.4% | 56.4% | 61.4% | 59.0% | 61.7% | 58.9% |
| Operating margin | −43.9% | −54.7% | −48.6% | −46.4% | −43.3% | −56.2% | −50.5% | −74.6% | −69.2% | −97.7% | −7.9% | −91.3% |
| Net margin | −44.5% | −49.2% | −45.2% | −42.2% | −42.1% | −49.4% | −43.9% | −64.6% | −65.2% | −86.9% | 12.7% | −88.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VLN's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VLN financial results
In fiscal year 2025 (ended December 31, 2025), Valens Semiconductor reported revenue of $70.6 million, up 22.1% from the year before. It had a net loss of $31.6 million, a net profit margin of −44.7%. Diluted earnings per share came to −$0.15. Over five years revenue grew at an average rate of 4.4% a year.
See the VLN stock overview for the latest quote and news, or the VLN chart for price history and technical indicators.
VLN income statement FAQ
What is Valens Semiconductor's annual revenue?
Valens Semiconductor reported total revenue of $70.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 22.1% from $57.9 million the previous year.
Is Valens Semiconductor profitable?
No. Valens Semiconductor reported a net loss of $31.6 million in fiscal 2025, a net profit margin of −44.7%; its operating margin was −48.5%.
What is Valens Semiconductor's gross margin?
Valens Semiconductor's gross margin was 62.4% in fiscal 2025: for every $100 of revenue, Valens Semiconductor kept $62 after the direct cost of its products and services.
How much does Valens Semiconductor spend on research and development?
Valens Semiconductor spent $42.7 million on research and development in fiscal 2025, 60.4% of revenue.
How fast is Valens Semiconductor growing?
Revenue grew 4.4% a year on average over the last five fiscal years, from $56.9 million to $70.6 million.
What are Valens Semiconductor's earnings per share?
Valens Semiconductor earned $-0.15 per diluted share in fiscal 2025, compared with $-0.15 a year earlier.
When will Valens Semiconductor report its next earnings?
Valens Semiconductor is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 before the market opens.
When does Valens Semiconductor's fiscal year end?
Valens Semiconductor's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.