Valens Semiconductor Ltd. reported third quarter 2025 revenues of $17.3 million, exceeding its guidance range of $15.1 million to $15.6 million, and up from $16.0 million in the third quarter of 2024. Gross margin for the quarter was 63.0% on a GAAP basis and 66.7% on a non-GAAP basis, both above the top end of guidance. Cash, cash equivalents, and short-term deposits totaled $93.5 million as of September 30, 2025. The company marked its sixth consecutive quarter of revenue growth. Major business developments included powering the first end-to-end camera-to-processor MIPI A-PHY platform in the industrial machine vision market, launching three new products for the endoscopy vertical in medical, and a partnership with Sony Semiconductor Solutions for an A-PHY camera in automotive. The Board of Directors appointed Yoram Salinger as the new CEO, effective November 13, 2025. For the fourth quarter, Valens projects revenues between $18.2 million and $18.9 million, with gross margin expected between 58% and 60%. Full year 2025 revenues are forecast to be between $69.4 million and $70.1 million, an increase of approximately 20% over 2024.