Valens Semiconductor Ltd. (VLN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -5.13M | -295K | -4.66M | -211K | -7.61M | -330K | 2.96M | -225K | -1.39M | -4.14M | 6.09M | 358K | -8.67M | -5.83M | -3.61M | -4.25M | -8.4M | -11.38M | -578K | -6.44M |
| Operating CF Margin % | -30.44% | -1.52% | -26.89% | -1.24% | -45.23% | -1.98% | 18.48% | -1.65% | -12.03% | -18.85% | 42.98% | 1.48% | -36.3% | -24.84% | -15.6% | -18.91% | -38.87% | -54.87% | -3.03% | -36.8% |
| Operating CF Growth % | 32.57% | 10.61% | -257.29% | 6.22% | -447.55% | 92.02% | -51.31% | -162.85% | 83.97% | 29.07% | 268.64% | 108.42% | -3.17% | 48.76% | -524.57% | 34.02% | -161.94% | -78.71% | - | - |
| Net Income | -8.29M | -8.77M | -7.32M | -7.18M | -8.31M | -7.32M | -10.36M | -8.87M | -10.04M | 2.79M | -12.49M | -4.58M | -5.38M | -7.32M | -5.3M | -9.99M | -5.05M | -7.97M | -8.49M | -3.7M |
| Depreciation & Amortization | 928K | 709K | 1.01M | 758K | 770K | 788K | 823K | 479K | 456K | 439K | 400K | 414K | 379K | 361K | 349K | 347K | 320K | 312K | 265K | 266K |
| Stock-Based Compensation | 0 | 0 | 0 | 3.77M | 4.17M | 3.86M | 3.76M | 3.73M | 3.76M | 3.51M | 3.71M | 3.99M | 3.82M | 3.13M | 3.05M | 3.12M | 2.79M | 1.36M | 5.22M | 1.7M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.68M | 5.62M | 4.84M | 535K | 1.04M | -482K | 936K | 1.65M | 1.26M | -2.88M | 1.8M | 1.7M | -354K | -543K | 1.03M | 3.26M | -1.87M | -880K | 674K | -508K |
| Working Capital Changes | -449K | 2.15M | -3.19M | 1.91M | -5.28M | 2.82M | 7.8M | 2.78M | 3.17M | -7.99M | 12.68M | -1.16M | -7.14M | -1.46M | -2.74M | -978K | -4.59M | -4.2M | 1.75M | -4.2M |
| Change in Receivables | -509K | -76K | -1.79M | 1.42M | -1.8M | -534K | 2.8M | 180K | 4.74M | -7.02M | 8.43M | -3.18M | -1.4M | -3.45M | 1.98M | 166K | -3.12M | 485K | 332K | -2.48M |
| Change in Inventory | -789K | 818K | 464K | -698K | -762K | 1.5M | 2.27M | 1.05M | 1.35M | 3.07M | 2.12M | 4.55M | 250K | -1.94M | -4.56M | -4.85M | -3.14M | -1.7M | -1.92M | -1.75M |
| Change in Payables | -69K | 0 | -368K | 0 | -1.86M | 0 | 0 | 0 | 0 | 0 | 0 | -1.48M | 0 | 0 | 0 | 1.69M | 0 | 592K | 917K | 451K |
| Cash from Investing | 7.46M | -4.43M | -5.66M | 15.53M | 22.65M | 812K | 8.21M | -10.36M | 19.11M | 9.04M | -16.57M | 5.61M | 3.28M | -6.45M | -10.92M | 8.57M | -2.93M | -104.06M | -4.57M | 7.85M |
| Capital Expenditures | -437K | -252K | -281K | -119K | -357K | -880K | -722K | -235K | -30K | -86K | -180K | -777K | -142K | -317K | -368K | -244K | -180K | -860K | -78K | -127K |
| CapEx % of Revenue | 2.59% | 1.3% | 1.62% | 0.7% | 2.12% | 5.28% | 4.5% | 1.73% | 0.26% | 0.39% | 1.27% | 3.21% | 0.59% | 1.35% | 1.59% | 1.09% | 0.83% | 4.15% | 0.41% | 0.73% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -7.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -5K | -5K | -643K | 0 | 0 | -1.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -1.19M | -154K | -3.56M | -9.98M | -9.4M | -847K | 56K | 510K | 126K | 233K | 279K | 58K | 928K | 289K | 383K | 96K | 54K | -20.09M | 155.07M | 371K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 775K | -154K | -3.56M | -10.18M | -9.59M | -847K | 0 | 0 | 126K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29K | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -597K | -3.63M | -10.18M | -9.59M | -1.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -1.96M | 0 | 0 | 197K | 188K | 0 | 56K | 510K | 0 | 233K | 279K | 58K | 928K | 289K | 383K | 96K | 54K | -20.12M | 155.07M | 371K |
| Net Change in Cash | 1.12M | -3.71M | -15.05M | 5.59M | 5.57M | 1.12M | 10.74M | -10.39M | 17.84M | 6.08M | -10.22M | 5.92M | -4.54M | -11.88M | -14.67M | 1.58M | -11.8M | -134.32M | 149.3M | 2.31M |
| Free Cash Flow | -5.57M | -547K | -4.94M | -330K | -7.97M | -1.21M | 2.24M | -460K | -1.42M | -4.22M | 5.91M | -419K | -8.81M | -6.15M | -3.98M | -4.5M | -8.58M | -12.24M | -656K | -6.57M |
| FCF Margin % | -33.03% | -2.82% | -28.51% | -1.93% | -47.35% | -7.26% | 13.98% | -3.38% | -12.28% | -19.24% | 41.71% | -1.73% | -36.9% | -26.19% | -17.19% | -19.99% | -39.7% | -59.02% | -3.44% | -37.52% |
| FCF Growth % | 30.11% | 54.79% | -320.47% | 28.26% | -461.13% | 71.34% | -62.05% | -9.79% | 83.88% | 31.33% | 248.52% | 90.68% | -2.66% | 49.77% | -506.4% | 31.58% | -139.35% | -90.57% | - | - |
| FCF per Share | -0.05 | -0.01 | -0.05 | -0.00 | -0.08 | -0.01 | 0.02 | -0.00 | -0.01 | -0.04 | 0.06 | -0.00 | -0.09 | -0.06 | -0.04 | -0.05 | -0.09 | -0.93 | -0.05 | -0.50 |
| FCF Conversion (FCF/Net Income) | 0.62x | 0.03x | 0.64x | 0.03x | 0.92x | 0.05x | -0.29x | 0.03x | 0.14x | -1.48x | -0.49x | -0.08x | 1.61x | 0.80x | 0.68x | 0.43x | 1.66x | 1.43x | 0.07x | 1.74x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 58K | 19K | 0 | 39K | 28K | 0 | 31K | 10K | 213K | 56K | 56K | 37K | 65K | 56K | 0 | 82K | 147K |