Valens Semiconductor Ltd. (VLN) Wednesday reported net loss of $8.31 million or $0.08 per share for the first quarter, lower than $10.04 million or $0.10 loss per share in the same quarter a year ago.
Excluding one time items, loss per share was 0.03, compared with 0.06 loss per share last year.
Revenue for the quarter increased to $16.83 million from $11.56 million in the previous year.
On average, 4 analysts expected the company to report a loss of $0.03 per share on revenue of $16.48 million. Analysts' estimates typically exclude special items.
For the second quarter, Valens Semiconductor expects revenues to range between $16.5 million and $16.8 million. The consensus estimate stands at $17.9 million.
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