By Connor Hart
Shares of Valens Semiconductor fell after the company's outlook for the current quarter underwhelmed investors.
The stock were down 10%, at $2.44, in premarket trading Wednesday. Through Tuesday's close, shares have nearly doubled since the beginning of the year.
The company before the bell projected second-quarter revenue of $17.2 million to $17.6 million, missing the $18.1 million that analysts polled by FactSet are expecting.
Valens additionally guided for gross margin to range between 60% and 62% and for its adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--loss to range between $4.9 million and $4.4 million.
The outlooks came as the company reported a loss of $8.29 million during the first quarter, slightly narrower than its year-ago loss of $8.31 billion. The quarterly loss came out to 8 cents a share, compared with analyst views for a loss of 6 cents a share.
Revenue ticked up 0.2% to $16.9 million, just ahead of Wall Street models for $16.5 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 13, 2026 08:59 ET (12:59 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.