Valens Semiconductor Ltd. provided revenue guidance for the fourth quarter and reaffirmed revenue guidance for the full year 2023. For the quarter, the company expected revenue to be in the range between $21.6 million and $22 million.

For the full year 2023, the company is reaffirming its revenue guidance and improving its gross margin and Adjusted EBITDA guidance. Revenues are expected to range between $83.8 million and $84.2 million, of which automotive revenues are expected to reach about 30%.