발렌스 세미컨덕터(VLN) 2026년 2분기 실적 발표회: AV 수요 증가로 매출 가이던스 상향

핵심 요약

• 발렌스 세미컨덕터는 2026년 2분기 매출이 1,810만 달러를 기록하여 회사 가이던스인 1,720만~1,760만 달러를 상회했다고 발표했습니다. 매출은 2026년 1분기의 1,690만 달러와 2025년 2분기의 1,710만 달러에서 증가했습니다.
• GAAP 매출총이익률은 61.5%로 가이던스 범위인 60%~62% 내를 기록했습니다. 조정 EBITDA는 420만 달러 손실을 기록해 회사가 제시한 가이던스 손실 폭인 490만~440만 달러보다 개선되었습니다.
• 크로스 인더스트리(Cross-Industry) 사업 매출은 VS100, VS3000, VS6320 칩셋 수요에 힘입어 1,310만 달러에 달했습니다. 오토모티브 매출은 500만 달러였습니다.
• VS6320 기반 USB3 및 4K 비디오 레퍼런스 디자인은 다수 고객사로부터 수백만 달러 규모의 수주를 달성했습니다. 여러 고객사가 샘플링 및 검증을 완료하고 양산을 시작하고 있습니다.
• 4건의 VA7000 오토모티브 수주 계약이 모두 계획대로 진행되고 있습니다. 경영진은 이들 프로그램의 매출이 2027년부터 본격화되기 시작하고, 향후 본격적인 양산과 연계되어 더 큰 기회가 창출될 것으로 예상합니다.
• 발렌스는 2026년 연간 매출 가이던스를 기존 7,500만~7,700만 달러에서 7,800만~8,100만 달러로 상향 조정했습니다. 경영진에 따르면 중간값 기준으로 전년 대비 13% 성장을 의미합니다.

핵심 재무 실적

크로스 인더스트리 사업의 매출총이익률은 69.2%로, 2026년 1분기 70.8%, 2025년 2분기 67.8%와 비교됩니다. 오토모티브 매출총이익률은 생산 요구사항의 우선순위 지정 및 지원을 위해 지출된 추가 시험 시설 비용으로 인해 전분기 46.2%, 전년 동기 50.5%에서 41.5%로 감소했습니다.

비즈니스 및 경영 성과

오디오-비디오 및 크로스 인더스트리 사업

오디오-비디오(AV) 분야는 핵심 사업 기반으로 유지되었습니다. 2분기 성장은 주로 기존 VS100 칩셋 제품군과 랜선을 통해 무압축 HDMI 2 확장을 지원하는 VS3000이 견인했습니다.

발렌스는 또한 VS6320 USB 3.2 확장 칩의 모멘텀이 지속되고 있다고 밝혔습니다. 크레스톤(Crestron) 및 엑스트론(Extron)을 포함한 제조업체를 통해 발렌스의 첨단 칩셋을 탑재한 신제품이 시장에 출시되었습니다. 바코(Barco)는 클릭쉐어(ClickShare) USB-C Extension over CAT 키트에 발렌스의 HDBaseT 칩셋을 채택하여 클릭쉐어 포트폴리오를 유선 연결까지 확장했습니다.

발렌스는 단일 케이블로 USB3 및 4K 비디오를 전송할 수 있도록 VS6320과 컴패니언 칩을 결합한 레퍼런스 디자인을 개발했습니다. 컴패니언 칩은 ODM 고객사가 직접 구매하므로, 현재의 레퍼런스 디자인은 발렌스의 ASP나 매출총이익률에 영향을 주지 않습니다. 경영진은 이 솔루션이 수백만 달러 규모의 수주를 창출했으며, 여러 고객사가 양산을 시작했다고 밝혔습니다.

회사는 또한 USB 및 4K 비디오 기능을 통합할 향후 단일 칩 제품을 개발하고 있습니다. 경영진은 이를 통해 시스템 디자인을 단순화하고 부품 수와 비용을 줄일 수 있을 것이라고 밝혔으나 출시 일정은 공개하지 않았습니다.

오토모티브

발렌스가 MIPI A-PHY 표준을 준수한 최초의 칩셋으로 설명한 VA7000은 오토모티브 전략의 핵심으로 남아 있습니다. 발렌스는 4건의 A-PHY 수주를 확보했으며, 경영진은 4개 프로그램 모두 계획대로 진행 중이라고 말했습니다.

발렌스는 전자제어장치(ECU)를 제작하는 티어 1 부품업체들에 칩을 공급했습니다. 경영진은 남은 생산 일정은 전반적인 차량 출시 일정 및 다른 자동차 산업 참여자들과의 협의에 달려 있다고 밝혔습니다. 이 4개 프로그램의 매출은 2027년 중에 본격화되기 시작하여, 향후 생산량이 늘어남에 따라 더 큰 기여를 할 것으로 예상됩니다.

회사는 또한 다수의 완성차 업체(OEM)와 추가 평가 프로세스에 참여하고 있습니다. 딘 마틴(Dean Martin)이 9월 1일 자로 오토모티브 사업부장으로 취임할 예정입니다.

경영진 가이던스

경영진은 연간 전망치 상향의 주된 원인을 2027년부터 매출을 내기 시작할 예정인 4개 오토모티브 프로그램의 기여라기보다는, 고객사 제품에서 VS3000 및 VS6320의 채택이 증가했기 때문으로 돌렸습니다.

리스크 및 관전 포인트

• 오토모티브 프로그램은 수년에 걸친 개발 및 생산 주기를 가집니다. 발렌스가 현재 4개 프로그램에서 자신의 담당 부분을 완료하고 납품을 마쳤더라도, 차량 출시는 티어 1 부품업체, 완성차 업체 및 기타 생산 공정 요인에 따라 달라집니다.
• 오토모티브 매출총이익률은 추가 시험 시설 비용으로 인해 41.5%로 하락했습니다. 경영진은 당분간 생산능력 관련 압박이 유지될 수 있음을 내비쳤습니다.
• 발렌스는 GAAP 순손실 810만 달러, 조정 EBITDA 손실 420만 달러를 기록하며 2분기에도 적자를 이어갔습니다.
• 현금, 현금성자산 및 단기예금은 1분기 말 8,610만 달러에서 8,340만 달러로 감소한 반면, 재고자산은 1,090만 달러에서 1,250만 달러로 증가했습니다.

애널리스트 Q&A 주요 내용

• VS6320 레퍼런스 디자인: 경영진은 ODM 고객사가 컴패니언 4K 비디오 칩을 구매하여 최종 시스템을 구축한다고 설명했습니다. 발렌스는 VS6320과 소프트웨어 구현을 제공하므로 현재 제공되는 제품은 ASP나 매출총이익률에 영향을 미치지 않습니다.
• 통합 제품 로드맵: 발렌스는 향후 단일 칩 솔루션에 USB 및 4K 비디오 기능을 통합할 계획입니다. 현재 고객은 타사 컴패니언 칩이 적용된 회사의 레퍼런스 구현을 사용하고 있습니다.
• 오토모티브 양산 마일스톤: 발렌스는 4개 VA7000 프로그램과 관련해 티어 1 부품업체에 칩셋 납품을 완료했다고 밝혔습니다. 2027년 매출 본격화에 대한 확신은 완성차 업체의 조립 라인을 향한 티어 1 부품업체들의 진척 상황에 기반합니다.
• 2026년 가이던스 상향 이유: 경영진은 주요 전문 AV 제조업체의 제품을 포함해 고객사 제품 전반에서 VS3000 및 VS6320의 채택이 확대되었기 때문이라고 말했습니다.
• 바코 기회 요인: 경영진은 바코가 클릭쉐어 제품군에 유선 연결을 추가한 것을 고성능 유선 솔루션에 대한 지속적인 수요를 입증하는 것으로 보고 있습니다.

실적 발표 컨퍼런스 콜 전문

전체 실적 발표 컨퍼런스 콜 녹취록

경영진 발표

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Valens Semiconductor's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Thank you. I would now like to turn the conference over to Michal Ben Ari, Investor Relations Manager. Please go ahead.

Michal Ben Ari

Thank you, and welcome, everyone, to Valens Semiconductor's Second Quarter 2026 Earnings Call. With me today are Yoram Salinger, Chief Executive Officer; and Karine Pinto-Flomenboim, our new Chief Financial Officer. Earlier today, we issued a press release that is available on the Investor Relations section of our website under investors.valens.com.

As a reminder, today's earnings call may include forward-looking statements and projections, which do not guarantee future events or performance. These statements are subject to the safe harbor language in today's press release. Please refer to our annual report on Form 20-F filed with the SEC on February 25, 2026, for a discussion of the factors that could cause actual results to differ materially from those expressed or implied. We do not undertake any duty to revise or update such statements to reflect new information, subsequent events or changes in strategy.

We will be discussing certain non-GAAP measures on this call, which we believe are relevant in assessing the financial performance of the business, and you can find reconciliations of these metrics within our earnings release.

With that, I will now turn the call over to Yoram.

Yoram Salinger

Thank you, Mike. Hello, everyone, and thank you for joining us, and welcome to our new CFO, Karine Pinto-Flomenboim, who brings with her extensive financial and operational leadership experience from both public and private technology companies. We are very happy to have you here with us.

Since joining Valens, I spent a lot of my time with our teams, our customers and our partners. And what has struck me most is the depth of technology we've built and how directly that translates into customer adoption from audio-video products shipping today to automotive design wins that are advancing towards production.

We provide high-performance chipsets that are in demand across industries because they offer OEMs a foundation upon which they can build the innovations of the future. Our technological leadership, combined with our growing commercial momentum, give me confidence in our ability to capitalize on many opportunities that lay ahead. I'll speak more about how this impacts our full year revenue towards the end of my remarks.

I'm happy to share that this quarter, we exceeded the top end of our revenue guidance at $18.1 million. GAAP gross margin for the second quarter came in at 61.5%, well within our guidance, and adjusted EBITDA was a loss of $4.2 million, lower than anticipated compared to our guidance.

During the remainder of my remarks, I'd like to highlight the key developments across our business, and I'll start with Audio-Video.

Audio-Video continues to be the core foundation of our business. Our activities here continue to expand steadily and the momentum we saw this quarter reflects continued customer adoption and commercial traction across our chipset portfolio. The revenue growth this quarter came primarily from 2 chipsets, our legacy VS100 family and our cutting-edge VS3000. We are encouraged that the market continues to find value in our VS100, the first generation of HDBaseT chipsets.

For customers looking for next-generation AV platforms, we are happy to see that they are increasingly choosing our VS3000, the only solution for uncompressed HDMI 2 extension over widely deployed category cables. In addition, we saw continued momentum building from our VS6320 chip, which extends USB 3.2. We expect integration of those chipsets to grow as more OEMs adopt higher-resolution video and more advanced USB protocols into their designs.

In Q2, we saw additional products hit the market based on our most cutting edge chips, including from leading AV manufacturers, Crestron and Extron. Adoption by 2 top-tier AV manufacturers like these is exactly the kind of commercial traction that turns technology leadership into recurring revenue and give us confidence in continued growth from these products as we move further into 2026.

Beyond these newer products, our broader Audio-Video portfolio also continued to perform well. During the quarter, we announced that Barco selected our HDBaseT chipset to power its new ClickShare USB-C Extension over CAT kit. Barco is one of the most recognized names in collaboration technology and the ClickShare product is known for its wireless connectivity.

The company's decision is a clear signal of market demand for higher performance wired connectivity and of Valens's position as a leader in this space. We see wins like this as further validation that our technology continues to add value as collaboration systems evolve.

At this point, I'd like to mention an important initiative we undertook aimed at converting our technology into new revenue opportunities. When I took the helm at Valens, we quickly established an internal task force focused on identifying new opportunities that could be pursued with minimal incremental R&D investment beyond the chip we are currently selling and with accelerated time to market. The team exceeded my expectations.

One of the best examples came from our VS6320 with software enhancement, we created a new offering that addressed a clear market need. Rather than simply selling the chip, Valens developed a joint reference design for USB3 and 4K video by combining the VS6320 with a companion chip and introduced it to leading ODMs customers. We also work with those customers to design firmware tailored to their specific needs.

The company has already seen millions of dollars in bookings across multiple customers, several of which have already progressed to sampling, completed qualification and are now beginning volume production. This is an elegant production-ready solution for extending both USB3 and 4K video. It also provides a clear bridge to the next step of our road map.

We're currently developing a new single-chip solution that will integrate these capabilities into one package. Instead of pairing the VS6320 with companion chip from other vendors, OEMs will be able to achieve the same functionality with a single device, simplifying system design, reducing component count, lowering cost and streamlining integration. The strong market interest in our USB3 and 4K reference design reinforces our conviction that the chip's integrated feature set will address a real and growing customer need.

Before I move to our Automotive business, I'd like to mention our presence at the InfoComm trade show, one of the marquee events in the pro AV industry, which took place in Las Vegas in June. Both the VS3000 and the VS6320 generated strong interest from OEMs, ODMs and ecosystem partners. Throughout the show, we held a large number of strategic meetings that resulted in new business opportunities, expanded engagements and a robust pipeline of follow-up activities. Overall, the event further strengthened our confidence in our Audio-Video strategy and growing demand for our technology and our ability to translate that demand into future design wins and revenue growth.

Let's turn now to the automotive industry. I'd like to start this section with the exciting news that we are welcoming Dean Martin as the new Head of Automotive business unit, effective on September 1. I had the pleasure of working with Dean for more than a decade at Redmond later acquired by Harman and saw firsthand his exceptional ability to turn innovative technologies into significant commercial success. Dean has a track record of securing major design wins, leading global automakers and building the customer relationships needed to support the long-term growth. And at that note, I'd like to thank Adar Segal, who is stepping down from his position for his significant contribution to Valens over the recent years.

Now turning to our performance in Automotive during Q2. As you know, this industry represents one of the most important long-term growth opportunities for Valens. As vehicles add more cameras, radars and other sensors to support ADAS and autonomous driving, the industry needs a new class of high-performance, reliable, standardized connectivity. We believe Valens is well positioned to become a leading provider of that connectivity for the years to come.

At the center of this opportunity is our VA7000 chipset, which offers high-performance connectivity for cameras and radars using ADAS and autonomous driving. The VA7000 is the first chipset on the market to comply with the MIPI A-PHY standard. We now have 4 design wins for our A-PHY chipsets, and one of our primary focus is on executing those programs successfully. I'm pleased to say that all 4 projects are progressing according to plan, and our teams are working closely with customers to support their development towards production.

As a reminder, Automotive programs follow long development and production cycles, often several years from design wins to volume production, but we expect to see revenues from these projects ramping up during 2027. While initial revenue represents an important milestone, the larger opportunities will develop as these programs advance into volume production over time. We continue to participate in several evaluation processes at various stages with multiple OEMs, providing additional opportunities to expand our design wins portfolio.

To conclude, we delivered a strong execution during the past quarter. Building on the continued strength of the professional AV foundation, we also made meaningful progress across our Automotive programs while our technology leadership continues to translate into growing commercial momentum, positioning us well for future growth.

As a result of our strong first half performance and the visibility we now have into the remainder of the year, we are raising our full year revenue guidance to between $78 million and $81 million, up from our previous guidance range of $75 million to $77 million. This would mark 13% year-over-year growth at the midpoint of our guidance. Our updated guidance reflects the strength of our current customer programs, improving revenue visibility and confidence in our ability to execute during the second half of 2026.

And on that note, I'll turn the call over to Karine to discuss our financial performance in more detail.

Karine Pinto-Flomenboim

Thank you, Yoram. And before I dive into the financials, I'd like to say how excited I am to be joining Valens and to participate in my first earnings call as CFO. As this is my first week in the role, I'll be brief on qualitative observations today, but I look forward to engaging more deeply with all of you in the quarters ahead.

Now let's dive into our second quarter 2026 results. We achieved quarterly revenue of $18.1 million, which exceeded our guidance of between $17.2 million to $17.6 million. This compares to revenue of $16.9 million in Q1 2026 and $17.1 million in Q2 2025.

The Cross-Industry Business, or CIB, accounted for $13.1 million or approximately 70% of total revenue, while Automotive contributed $5 million or approximately 30% of total revenue this quarter. This compares with Q1 2026 revenue of $11 million from CIB and $5.9 million from Automotive, which represented approximately 65% and 35% of total revenue, respectively. It also compares to Q2 2025 revenue of $12.8 million from the CIB and $4.3 million from Automotive, representing 75% and 25% of total revenue, respectively.

Q2 2026 gross profit was $11.1 million compared to $10.5 million in Q1 2026 and compared to $10.8 million in Q2 2025.

Q2 2026 gross margin was 61.5% compared to our guidance of between 60% and 62%. This compares to a Q1 2026 gross margin of 62.2% and Q2 2025 of 63.5%. On a segment basis, Q2 2026 gross margin from the CIB was 69.2% and gross margin from Automotive was 41.5%. This compares to a Q1 2026 gross margin of 70.8% and 46.2%, respectively, and to Q2 2025 gross margin of 67.8% and 50.5%, respectively. The decrease in gross margin in Automotive compared to Q1 2026 was mainly due to additional testing facility expenses incurred to prioritize and support production requirements. Non-GAAP gross margin in Q2 2026 was 64.3%, which compares to 65.2% in Q1 2026 and 67.2% in Q2 2025.

Operating expenses in Q2 2026 totaled $19.1 million compared to $19.4 million in Q1 2026 and $18.2 million in Q2 2025. Research and development expenses in Q2 2026 totaled $10.1 million compared to $10.3 million in Q1 2026 and $10.2 million in Q2 2025. SG&A expenses in Q2 2026 were $9 million compared to $9.4 million in Q1 2026 and $8.9 million in Q2 2025.

GAAP net loss in Q2 2026 was $8.1 million compared to a net loss of $8.3 million in Q1 2026 and a net loss of $7.2 million in Q2 2025. Adjusted EBITDA in Q2 2026 was a loss of $4.2 million, better than the guidance range of a loss between $4.9 million and $4.4 million. This compares to an adjusted EBITDA loss of $5.5 million in Q1 2026 and an adjusted EBITDA loss of $4 million in Q2 2025.

GAAP loss per share in Q2 2026 was $0.08, the same as in Q1 2026 and compared to a loss of $0.07 for Q2 2025. Non-GAAP loss per share in Q2 2026 was $0.04 compared to a loss of $0.05 in Q1 2026 and a loss of $0.04 in Q2 2025. The difference between GAAP and non-GAAP loss per share was mainly due to stock-based compensation as well as depreciation and amortization expenses.

Now turning to the balance sheet. We ended Q2 2026 with cash, cash equivalents and short-term bank deposits totaling $83.4 million and with no debt. This compares to $86.1 million at the end of Q1 2026 and $92.6 million at the end of Q4 2025. Our working capital at the end of Q2 2026 was $88.9 million compared to $91.3 million at the end of Q1 2026 and $95.7 million at the end of Q4 2025. Our inventory as of June 30, 2026, was $12.5 million, an increase from $10.9 million on March 31, 2026, and $10.1 million on December 31, 2025.

Now I would like to discuss our guidance for the third quarter of 2026. We expect Q3 2026 revenue to be in the range of $21.3 million to $21.7 million. We expect gross margin for Q3 2026 to be in the range of 60% to 62%, and we expect an adjusted EBITDA loss for Q3 2026 between $3.4 million and $2.8 million loss. As Yoram said earlier, we are proud to raise our full year guidance between $78 million to $81 million. It's certainly an encouraging start to my time at Valens, a reflection of the team's strong execution.

I'll now turn the call back to Yoram for his closing remarks before opening the call for Q&A.

Yoram Salinger

Thank you, Karine. I'm happy that we were able to raise our full year guidance. This reflects the progress we are making across our core businesses, both in the established Audio-Video unit and the high-growth potential Automotive offering. With our differentiated technology, strong balance sheet and focus on our core markets, we're well positioned to capitalize on the opportunities ahead and drive meaningful growth, not just in 2026, but beyond as well.

With that, I'll now open the call to answer your questions. Operator?

Operator

[Operator Instructions] And your first question comes from Quinn Bolton with Needham & Company.

질의응답

Quinn Bolton

Welcome, Karine. I wanted to start on the new reference design, Yoram, that you mentioned in the script. One, can you just give us a little bit more detail on what that solution involves with the VS6320 and what type of companion chip did you integrate into that solution? And then sort of a related question, as you look to bring that companion chip into an integrated solution with the 6320, how does that affect ASP and margin for that new solution?

Yoram Salinger

So as you probably know, our part in the reference design is the 6320 and a software implementation that enables a companion chip running 4K video to coexist over a single cable in order to transmit video in parallel to USB.

As we said in the script, this is getting a ton of traction from ODMs and it already generated bookings of millions of dollars. And basically, it doesn't affect the gross margin and the ASP because we are not the one selling the end product.

Quinn Bolton

I guess when you mentioned you were getting to an integrated solution, would you bring that functionality into a chip designed by Valens? Or would it just be a solution where you buy the companion chip and pass it through as part of a solution, but it's not something that really affect -- you're not designing a new chip? Or are you going to design a new chip with that companion chip functionality integrated into the 6320?

Yoram Salinger

So that's a very good question. The companion chip is going to be bought by the ODMs who is eventually going to design and build the system and sell it to the market.

You're right about the intent of having a solution to be introduced later in coming years where we would integrate the 2 capabilities, 4K video alongside with the USB kind of 6320 into one chip, and that's kind of a road map plan for us. But for now, it's ODMs that we have built a reference implementation for them. They're buying the companion chip and they build the PCB in order to get it to the market.

Quinn Bolton

Understood. Got it. And then, you already mentioned that all 4 of the VA7000 wins are progressing towards initial production in 2027. That's still potentially about a year away. Can you give us a sense what are the key milestones left on the time line to achieving start of production on those programs? Are there major milestones? Or do you feel like most of those milestones have now been met? Just trying to get a sense of what the challenge is or what the next big steps are for those 4 Auto designs.

Yoram Salinger

So I'm proud to say that our piece in that very complex puzzle has been completed and delivered. So we have delivered chips to the Tier 1s who are building the ECUs in order to get into the manufacturers or the OEMs, the carmakers to build the car. So our part in that has been completed and done in a very effective manner.

Obviously, launching cars is a complex task, and it takes a few other elements of the car industry to get together at the same time in order to -- for the OEM to launch the product. So our part in that is pretty much completed. And the reason we are saying we see that moving on track is because we are working with the Tier 1, and we know that they're advancing towards releasing their piece into the assembly line of the car manufacturers, and this is what gives us the confidence.

Quinn Bolton

Excellent. And then just a last quick one for Karine. Karine, you mentioned the Auto gross margin declined in the June quarter due to some testing facility expenses. Will those expenses continue into future quarters? Or were those expenses more onetime in nature? Any thoughts on how you see the Auto gross margin moving in the third quarter would be helpful.

Karine Pinto-Flomenboim

Sure. So as we mentioned, the gross margin for this quarter was impacted by additional testing costs. But going through to next quarters, I think overall expenses, we do not expect them to change significantly. We do not know to foresee those testing costs going forward. But due to the capacity issues that we are experiencing, we assume it's pretty stable to say that they're with us for the time being.

Operator

Your next question comes from the line of Dave Storms with Stonegate Capital Partners.

Maximus Alexander-Nino

This is Maximus. I'll be asking questions for Dave this morning. Just wanted to start on the full year guide. The raise implies a pretty meaningful step-up in the second half with the 4 Automotive programs really expected to ramp in '27, should we think about the second half acceleration of 2026, primarily CIB? Or are there meaningful contributions from existing Auto businesses as well? And if you can give us a little bit more color on overall visibility that gave you the confidence to raise guidance.

Yoram Salinger

Sure. So as we stated on the call, the Automotive business is going to be impacting revenue starting 2027. The reason to increase our guidance has to do with the fact that our flagship chips, the VS3000 and the VS6320 are being designed in to [indiscernible] more products of our customers, the likes of the Crestron, the Extron, the large techs and others. So when we see the adoption increasing over time and actually more and more products are being shipped to the market, leveraging the Valens chipsets, we feel confident that our visibility and the adoption is going to stay at the same -- at least at the same level we've seen through the first 2 quarters. And therefore, we raised the guidance to reflect that demand that we see for our products.

Maximus Alexander-Nino

Great. I wanted to pivot over with Barco and I want to see if you can walk us through a little bit of how that design came in together and what the remaining rollout looks like?

Yoram Salinger

Could you repeat the question? Sorry, I didn't get your question.

Maximus Alexander-Nino

With Barco, if you were able to walk us through how that design came in together and what the remaining rollout looks like?

Yoram Salinger

So first of all, ClickShare is a flagship product of Barco, leveraging Wi-Fi. Now Wi-Fi connectivity as good as it gets, have its issues. And the idea of Barco kind of splitting the product, which is a flagship product into a wireless implementation as well as wired suggests that the wired connectivity is still there and is still there for [indiscernible]. So this decision is extremely meaningful, and this is why we've decided that if Barco is going, splitting the ClickShare back to wired alongside with wireless, okay? We need to be fair to the situation. It gives us a ton of confidence that they would be shipping this to the market in high volumes in the years to come.

Operator

And that concludes our question-and-answer session. I will now turn the conference back over to Yoram for closing comments.

Yoram Salinger

Thank you for joining us today and for your continued interest in Valens Semiconductor. We look forward to speaking with you again next quarter. Goodbye.

Operator

Ladies and gentlemen, this does conclude today's conference call. Thank you for your participation, and you may now disconnect.