VLN
Valens
NYSE: VLN · TECHNOLOGY · SEMICONDUCTORS
$2.17
+43.71% today
Updated 2026-04-30
Market cap
$169.52M
P/E ratio
—
P/S ratio
2.40x
EPS (TTM)
$-0.31
Dividend yield
—
52W range
$1 – $3
Volume
1.5M
Valens (VLN) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $60.04M | $56.91M | $70.68M | $90.72M | $84.16M | $57.86M | $70.63M |
| Revenue growth (YoY) | — | -5.2% | +24.2% | +28.3% | -7.2% | -31.3% | +22.1% |
| Cost of revenue | $12.59M | $13.43M | $20.11M | $27.32M | $31.57M | $23.58M | $26.54M |
| Gross profit | $47.46M | $43.48M | $50.58M | $63.39M | $52.59M | $34.28M | $44.09M |
| Gross margin | 79.0% | 76.4% | 71.6% | 69.9% | 62.5% | 59.2% | 62.4% |
| R&D | $52.70M | $44.73M | $46.88M | $58.21M | $48.17M | $40.48M | $42.66M |
| SG&A | $5.12M | $7.88M | $16.56M | $16.59M | $14.02M | $16.46M | $35.65M |
| Operating income | $-27.98M | $-22.79M | $-27.07M | $-28.37M | $-26.92M | $-41.34M | $-34.22M |
| Operating margin | -46.6% | -40.0% | -38.3% | -31.3% | -32.0% | -71.5% | -48.5% |
| EBITDA | $-24.39M | $-18.36M | $-25.01M | $-25.86M | $-17.93M | $-33.91M | $-28.45M |
| EBITDA margin | -40.6% | -32.3% | -35.4% | -28.5% | -21.3% | -58.6% | -40.3% |
| EBIT | $-25.43M | $-19.46M | $-26.11M | $-27.23M | $-19.57M | $-36.45M | $-31.43M |
| Interest expense | $109000.00 | $32000.00 | $31000.00 | $2.61M | $46000.00 | $57000.00 | $109000.00 |
| Income tax | $414000.00 | $164000.00 | $407000.00 | $451000.00 | $112000.00 | $96000.00 | — |
| Effective tax rate | -1.6% | -0.8% | -1.6% | -1.7% | -0.6% | -0.3% | 0.0% |
| Net income | $-25.93M | $-19.64M | $-26.53M | $-27.67M | $-19.66M | $-36.58M | $-31.58M |
| Net income growth (YoY) | — | +24.3% | -35.1% | -4.3% | +28.9% | -86.1% | +13.7% |
| Profit margin | -43.2% | -34.5% | -37.5% | -30.5% | -23.4% | -63.2% | -44.7% |