Valens Semiconductor Ltd. cash flow statement

In fiscal 2025, Valens Semiconductor Ltd.'s operations generated −$12.7m of cash; it spent $1.1m on capital projects, leaving free cash flow of −$13.8m. It returned $24.0m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Valens Semiconductor Ltd.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−22	−20	−22	−22	−6	1	−13
Depreciation and amortisation	1	1	1	1	2	3	3
Stock-based pay	3	5	10	12	15	15	17
Capital spending	1	1	1	1	1	2	1
Free cash flow	−23	−20	−23	−23	−8	−1	−14
Free cash flow after stock pay	−26	−26	−33	−35	−23	−16	−30
Share buybacks	—	—	—	—	—	1	24

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Valens Semiconductor Ltd.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Valens Semiconductor Ltd.