Valens Semiconductor (VLN) 6-K 6 Oct 22 2022 Q2 Current report (foreign) Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022
Document Information [Line Items]
Document Type	6-K
Document Period End Date	Jun. 30, 2022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	VALENS SEMICONDUCTOR LTD.
Entity Central Index Key	0001863006
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and Cash Equivalents	$ 46,577	$ 56,791
Short-term deposits	110,177	117,568
Trade accounts receivable	10,047	7,095
Prepaid expenses	3,584	6,927
Other current assets	908	1,328
Inventories	17,318	9,322
TOTAL CURRENT ASSETS	188,611	199,031
LONG-TERM ASSETS:
Property and equipment, net	2,571	2,741
Operating lease right-of-use assets	4,408	0
Other assets	638	828
TOTAL LONG-TERM ASSETS	7,617	3,569
TOTAL ASSETS	196,228	202,600
CURRENT LIABILITIES:
Trade accounts payable	7,345	4,493
Accrued compensation	4,912	4,583
Current maturities of operating leases liabilities	1,814	0
Other current liabilities	6,257	6,623
TOTAL CURRENT LIABILITIES	20,328	15,699
LONG-TERM LIABILITIES:
Forfeiture Shares, no par value: 1,006,250 shares authorized, issued and outstanding as of June 30, 2022 and December 31, 2021,respectively	516	4,658
Non-current operating leases liabilities	2,126	0
Other long-term liabilities	48	46
TOTAL LONG-TERM LIABILITIES	2,690	4,704
COMMITMENTS AND CONTINGENT LIABILITIES
TOTAL LIABILITIES	23,018	20,403
SHAREHOLDERS' EQUITY:
Ordinary shares, no par value: 700,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 97,664,669, and 97,122,405 (excluding 1,006,250 ordinary shares subject to forfeiture) shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively.	49	49
Additional paid-in capital	318,214	312,156
Accumulated deficit	(145,053)	(130,008)
TOTAL SHAREHOLDERS' EQUITY	173,210	182,197
TOTAL LIABILITIESSHAREHOLDERS' EQUITY	$ 196,228	$ 202,600

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Common stock par or stated value per share	$ 0	$ 0
Common stock, shares authorized	700,000,000	700,000,000
Common stock, shares issued	97,664,669	97,122,405
Common stock, shares outstanding	97,664,669	97,122,405
Forfeiture Shares [Member]
Common stock par or stated value per share	$ 0	$ 0
Common stock, shares authorized	1,006,250	1,006,250
Common stock, shares issued	1,006,250	1,006,250
Common stock, shares outstanding	1,006,250	1,006,250

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
REVENUES	$ 22,481	$ 17,510	$ 44,101	$ 30,874
COST OF REVENUES	(6,697)	(5,043)	(12,877)	(8,875)
GROSS PROFIT	15,784	12,467	31,224	21,999
OPERATING EXPENSES:
Research and development expenses	(14,904)	(10,956)	(29,031)	(21,354)
Sales and marketing expenses	(4,473)	(3,222)	(8,682)	(6,332)
General and administrative expenses	(4,340)	(2,366)	(8,641)	(4,544)
TOTAL OPERATING EXPENSES	(23,717)	(16,544)	(46,354)	(32,230)
OPERATING LOSS	(7,933)	(4,077)	(15,130)	(10,231)
Change in Fair Value of Forfeiture Shares	1,538	0	4,142	0
Financial income (expenses), net	(3,560)	503	(3,675)	336
Loss before income taxes	(9,955)	(3,574)	(14,663)	(9,895)
INCOME TAXES	(43)	(124)	(389)	(179)
LOSS AFTER INCOME TAXES	(9,998)	(3,698)	(15,052)	(10,074)
Equity in earnings of investee	3	0	7	0
NET LOSS	$ (9,995)	$ (3,698)	$ (15,045)	$ (10,074)
Basic net loss per ordinary share	$ (0.1)	$ (0.68)	$ (0.15)	$ (1.61)
Diluted net loss per ordinary share	$ (0.1)	$ (0.68)	$ (0.15)	$ (1.61)
Weighted average number of shares used in computing net loss per ordinary share, Basic	97,442,359	11,020,299	97,296,206	10,927,357
Weighted average number of shares used in computing net loss per ordinary share, Diluted	97,442,359	11,020,299	97,296,206	10,927,357

Condensed Consolidated Stateme

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Beginning Balance at Dec. 31, 2020	$ (82,223)	$ 40	$ 21,211	$ (103,474)
Beginning balance, Shares at Dec. 31, 2020		10,795,372
Exercise of options	665	$ 4	661
Exercise of options, Shares		954,183
Stock-based compensation	3,290		3,290
Net loss for the period	(10,074)			(10,074)
Ending balance, Shares at Jun. 30, 2021		11,749,555
Ending balance at Jun. 30, 2021	(88,342)	$ 44	25,162	(113,548)
Beginning Balance at Mar. 31, 2021	(86,928)	$ 41	22,881	(109,850)
Beginning balance, Shares at Mar. 31, 2021		10,912,912
Exercise of options	589	$ 3	586
Exercise of options, Shares		836,643
Stock-based compensation	1,695		1,695
Net loss for the period	(3,698)			(3,698)
Ending balance, Shares at Jun. 30, 2021		11,749,555
Ending balance at Jun. 30, 2021	(88,342)	$ 44	25,162	(113,548)
Beginning Balance at Dec. 31, 2021	182,197	$ 49	312,156	(130,008)
Beginning balance, Shares at Dec. 31, 2021		97,122,405
Exercise of options and RSUs	$ 150	$ 0	150
Exercise of options, Shares	512,357
Exercise of options and RSUs, Shares		542,264
Stock-based compensation	$ 5,908		5,908
Net loss for the period	(15,045)			(15,045)
Ending balance, Shares at Jun. 30, 2022		97,664,669
Ending balance at Jun. 30, 2022	173,210	$ 49	318,214	(145,053)
Beginning Balance at Mar. 31, 2022	179,992	$ 49	315,001	(135,058)
Beginning balance, Shares at Mar. 31, 2022		97,191,467
Exercise of options and RSUs	96	$ 0	96
Exercise of options and RSUs, Shares		473,202
Stock-based compensation	3,117		3,117
Net loss for the period	(9,995)			(9,995)
Ending balance, Shares at Jun. 30, 2022		97,664,669
Ending balance at Jun. 30, 2022	$ 173,210	$ 49	$ 318,214	$ (145,053)

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$ (9,995)	$ (3,698)	$ (15,045)	$ (10,074)
Income and expense items not involving cash flows:
Depreciation	347	266	667	522
Stock-based compensation	3,117	1,695	5,908	3,290
Exchange rate differences	4,501	(545)	4,972	(231)
Interest from short-term deposits	(132)	37	(295)	219
Change in fair value of Forfeiture Shares	(1,538)	0	(4,142)	0
Reduction in the carrying amount of ROU assets	424	0	844	0
Changes in operating assets and liabilities:
Trade accounts receivable	166	(2,475)	(2,952)	767
Prepaid expenses	3,051	(599)	3,343	(1,833)
Other current assets	194	141	420	245
Inventories	(4,852)	(1,752)	(7,996)	(2,541)
Other assets	86	(26)	190	(31)
Trade accounts payable	1,691	451	2,779	1,124
Accrued compensation	508	107	329	(948)
Other current liabilities	(1,010)	(45)	(366)	(153)
Change in operating lease liabilities	(811)	0	(1,312)	0
Other long-term liabilities	2	0	2	(7)
Net cash used in operating activities	(4,251)	(6,443)	(12,654)	(9,651)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in short-term deposits	(13,088)	(4,520)	(31,340)	(4,520)
Maturities of short-term deposits	21,900	12,500	37,400	29,500
Purchase of property and equipment	(244)	(127)	(424)	(505)
Net cash provided by investing activities	8,568	7,853	5,636	24,475
CASH FLOWS FROM FINANCING ACTIVITIES -
Deferred issuance costs	0	(218)	0	(218)
Exercise of options	96	589	150	665
Net cash provided by financing activities	96	371	150	447
Effect of exchange rate changes on cash and cash equivalents	(2,830)	531	(3,346)	217
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,583	2,312	(10,214)	15,488
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	44,994	39,492	56,791	26,316
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	46,577	41,804	46,577	41,804
SUPPLEMENT DISCLOSURE OF CASH FLOW INFORMATION -
Cash paid for taxes	65	147	121	224
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Trade accounts payable on account of property and equipment	0	0	73	0
Unpaid issuance costs	0	2,722	0	2,722
Operating lease liabilities arising from obtaining operating right-of-use assets	$ 104	$ 0	$ 350	$ 0

General

General	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	NOTE 1 - GENERAL: a. Valens Semiconductor Ltd. (hereafter “Valens”, and together with its wholly owned subsidiaries, the “Company”), was incorporated in Israel in 2006. Valens is a leading provider of semiconductor products (chips), operates in the Audio-Video and Automotive industries, renowned for its Physical Layer (PHY) technology, enabling resilient high-speed connectivity over simple, low-cost infrastructure. Valens is the inventor of the HDBaseT Technology, which enables the converged delivery of ultra-high-definition digital video and audio, Ethernet, control signals, USB and power through a single cable. In the audio-video space, Valens’ HDBaseT technology enables plug-and-play digital connectivity between ultra-HD video sources and remote displays. In the automotive domain, Valens’ product offering includes both symmetric and asymmetric connectivity technology for high bandwidth transmission of native interfaces over a single low-cost wires and connectors. Valens’ advanced PHY technology for the auto industry provides the safety and resilience required to handle the noisy automotive environment, addressing the needs of Advanced Driver Assistance Systems (ADAS), Automotive Data Solutions (ADS), infotainment, telematics and backbone connectivity. b. On March 11, 2020, the World Health Organization designated the outbreak of a novel strain of coronavirus (“COVID-19”) as a global pandemic. Governments and businesses around the world have taken unprecedented actions to mitigate the spread of COVID-19, including imposing restrictions on movement and travel such as quarantines and shelter-in-place requirements, and restricting or prohibiting outright some or all commercial and business activity. These measures, though currently temporary in nature, may become more severe and continue indefinitely depending on the evolution of the COVID-19 pandemic. Although there are effective vaccines for COVID-19 that have been approved for use, not all the Company’s employees are vaccinated and specifically not with the booster vaccination. In addition, new strains of the virus have appeared (primarily, and most recently the Omicron variant), which may complicate treatment and vaccination programs. Accordingly, concerns remain regarding additional surges of the pandemic or the expansion of the economic impact thereof, and the extent to which the COVID-19 pandemic may impact the Company’s future results of operations and financial condition. The Company has taken precautionary measures intended to help minimize the risk of the virus to its employees, including requiring some of the employees to work remotely and suspended all non-essential travels. The Company’s business and operations have been and could in the future be adversely affected by the global COVID-19 pandemic. The COVID-19 pandemic and efforts to control its spread have curtailed the movement of people, goods and services worldwide, including in the regions in which we and our customers and partners operate, and are significantly impacting economic activity and financial markets. During 2020, 2021 and for the six months ended on June 30, 2022, the Company noticed a negative impact from COVID-19 on some of its customers’ demand, particularly with respect to end users’ audio-video and multimedia products that are used in public areas and for public events. Yet, the Company did receive an increase in demand for its high-speed connectivity products driven by a need for products and infrastructure to support the world’s developed trends derived from COVID-19 such as working from home, hybrid educational models and remote healthcare. On the product supply side, as the shortage in the semiconductor industry increases, the Company continues to face the impact of extended lead times from its suppliers as well as cost increases for certain raw materials that are in short supply, which may impact the Company’s revenues and gross margins. Overall, considering the changing nature and continuing uncertainty around the COVID-19 pandemic, the Company’s ability to predict the impact of COVID-19 on its business in future periods remains limited. The effects of the pandemic on the Company’s business is unlikely to be fully realized, or reflected in its financial results, until future periods. c. On September 29, 2021 (the “Closing Date”), the Company consummated a merger transaction (referred to as the “Merger Agreement Closing”) pursuant to a merger agreement, dated May 25, 2021 (the “Merger Agreement”), by and among the Company, PTK Acquisition Corp. (“PTK”), a Delaware corporation whose common stock and warrants were then traded on the New York Stock Exchange and Valens Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company. As a result of the Merger Agreement Closing, and upon consummation of other transactions contemplated by the Merger Agreement Closing (the “Transactions”), including the execution of series of subscription agreements, providing for the purchase of Valens Ordinary Shares by certain PIPE Investors (the “PIPE Financing”) at the Closing Date, as of September 30, 2021, the Company began trading on the New York Stock Exchange under the Symbol “VLN”. The net proceeds received by the Company as part of the Merger Agreement Closing and the PIPE Financing totaled to $131.6 million. Please also refer to Note 1(d) in the consolidated financial statement for the year ended December 31, 2021. d. Military Tensions Between Russia and Ukraine In February 2022, Russian forces launched a military invasion of Ukraine. In response, the United States, the European Union, United Kingdom and other governments have imposed significant economic sanctions on Russia, and Russia has responded with counter-sanctions. The war in Ukraine has disrupted international commerce and the global economy. Although the Company does not currently operate in Ukraine or Russia and therefore does not experience any impact from the war in Ukraine, the duration and severity of the effects on its busines and the global economy are inherently unpredictable. Management will continue to monitor the effects of the war in Ukraine and its potential further impacts on the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In our opinion, the information contained herein reflects all adjustments necessary for a fair statement of our results of operations, financial position, cash flows, and shareholders’ equity. All such adjustments are of a normal, recurring nature. The results of operations for the six and three months ended June 30, 2022 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021 as filed in the Company’s 20-F. There have been no material changes in our significant accounting policies as described in our consolidated financial statements for the year ended December 31, 2021, other than as stated below. b. Lease On January 1, 2021 the Company adopted ASU No. 2016-02, Leases (“Topic 842”), The Company determines if an arrangement is a lease at inception. Balances related to operating leases are included in operating lease right-of-use (“ROU”) assets, Current maturities of operating leases liabilities and Non-current operating leases liabilities in the consolidated balance sheets. The Company also elected not ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized as of the commencement date based on the present value of lease payments over the lease term. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The discount rate for the lease is the rate implicit in the lease unless that rate cannot be readily determined. As the Company’s leases do not provide an implicit rate, the Company’s uses its estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term (see also note 4). c. New Accounting Pronouncements Recently Adopted accounting Standards: In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), on the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for in a manner similar to the accounting under existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASC 842 provides a number of optional practical expedients in transition, which permits the Company not to reassess its prior conclusions regarding lease identification, lease classification and initial direct costs under the new standard. The guidance is effective for the Company for annual periods beginning after December 15, 2021 and interim periods within annual periods beginning after December 15, 2022. The Company adopted ASC 842 on January 1, 2022, using a modified retrospective transition approach, at the effective date, without adjusting the comparative periods. The Company elected to utilize the available package of practical expedients permitted under the transition guidance within ASC 842 which does not require it to reassess the prior conclusions about lease identification, lease classification and initial direct costs. Upon adoption of ASC 842, the Company recognized operating right-of-use assets of $4.9 million with corresponding operating lease liabilities on its consolidated balance sheet as of January 1, 2022. See Note 4 for further details. Recently issued accounting pronouncements, not yet adopted: In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (“ASC 326”): Measurement of Credit Losses on Financial Instruments to introduce a new model for recognizing credit losses on financial instruments based on estimated current expected credit losses, or CECL. Under the new standard, an entity is required to estimate CECL on trade receivables at inception, based on historical information, current conditions, and reasonable and supportable forecasts. ASU No. 2016-13 is effective for the Company for the annual period beginning after December 15, 2022, including interim periods within that reporting period. The Company is currently evaluating the impact of adoption of the new standard on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU No. 2019-12 is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The adoption of this guidance will not have a significant impact on the Company’s consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	NOTE 3 – INVENTORIES: June 30, 2022 December 31, 2021 U.S. dollars in thousands Work in process 8,056 4,718 Finished goods 9,262 4,604 17,318 9,322

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	NOTE 4 - LEASES: As of June 30, 2022, the Company has several operating lease agreements for its facilities and vehicles as follows: Offices: The Company’s corporate headquarters are located in Hod Hasharon, Israel, consisting of approximately 5,500 square meters of facility space under lease that will expire on February 28, 2023, with an option to extend the lease period by additional two years until February 28, 2025. The Company concluded that it is reasonably certain that it will exercise the renewal option. Accordingly, such renewal option was included in determining the lease term. The monthly rent payment is approximately $132 thousands. The Company has entered into various operating leases for office buildings in other territories. The total monthly rent payment of those leases is approximately $10 thousands. Vehicles: The Company rents motor vehicles for use by some of its employees under operating lease agreements with lease terms of three years. As collateral for the cars’ lease agreements, the Company pays in advance the fee for the last month under the lease agreement. As of June 30, 2022, the Company is engaged with car lease companies for leasing of over 30 vehicles. The monthly payments for those agreements are approximately $27 thousands. The table below presents the effects on the amounts relating to the Company’s total lease costs: For the six months ended on June 30,2022 For the three months ended on June 30, 2022 U.S. dollars in thousands Operating lease cost: Fixed Payment 1,184 585 The table below presents supplemental cash flow information related to operating leases:​​​​​​​ For the six months ended on June 30,2022 For the three months ended on June 30,2022 U.S. dollars in thousands Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases 1,066 509 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases, for initial adoption refer to note 2(c) 350 104 The table below presents supplemental balance sheet information related to operating leases: June 30, 2022 U.S. dollars in thousands Operating lease right-of-use assets 4,408 Current maturities of operating leases 1,814 Non-current operating leases 2,126 Total operating lease liabilities 3,940 Weighted average remaining lease term (years) 2.5 Weighted annual average discount rate 13.06 % The table below presents maturities of operating lease liabilities: June 30, 2022 U.S. dollars in 2022 1004 2023 1,863 2024 1,722 2025 26 Total operating lease payments 4,615 Less: imputed interest (675 ) Present value of lease liabilities 3,940

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Other Liabilities	NOTE 6 - OTHER CURRENT LIABILITIES: June 30, 2022 December 31, 2021 U.S. dollars in thousands Accrued vacation 3,566 3,464 Taxes payable 36 40 Accrued expenses- related party 142 142 Accrued expenses 2,513 2,977 6,257 6,623

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 5 - COMMITMENTS AND CONTINGENT LIABILITIES: a. Noncancelable Purchase Obligations The Company depends upon third party subcontractors for manufacturing of wafers, packaging and final tests. As of June 30, 2022, and December 31, 2021, the total value of open purchase orders for such manufacturing contractors was approximately $27,563 thousand and $50,591 thousand, respectively. The Company has noncancelable purchase agreements for certain IP embedded in the Company products as well as certain agreement for the license of development tools used by the development team. As of June 30, 2022, and December 31, 2021, the total value of non-paid amounts related to such agreements totaled $4,557 thousand and $6,563 thousand, respectively. b. Legal proceedings As of June 30, 2022, and to date, the Company is not a party to, or subject to the provisions of any order, writ, injunction, judgment or decree of any court or governmental agency or instrumentality. There is no

Forfeiture Shares

Forfeiture Shares	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Forfeiture Shares	NOTE 7 - FORFEITURE SHARES: a. On the Closing Date, 1,006,250 Ordinary Shares that PTK sponsor received in respect of its PTK common stock, are subject to forfeiture if certain price targets for the Valens Ordinary Shares are not achieved within a certain period of time (of up to four years), after the Closing Date or if an M&A Transaction (as defined in the Merger Agreement Closing), does not occur at a certain minimum price. The Company performed a Monte-Carlo simulation to calculate the fair value of such shares. As of the Closing Date, the fair value was $4,485 using the following assumptions: stock price of $7.4, expected term of 3-4 years, expected volatility of 47.74%-50.31% and risk-free interest rate of return of 0.53%-0.76%. The fair value of the Forfeiture Shares was computed using the following key assumptions: June 30, 2022 December 31, 2021 Stock price 3.5 7.7 Expected term (years) 2.25-3.25 2.75-3.75 Expected volatility 48.35%-49.27% 48.77%-48.92% Risk-free interest rate 2.94%-2.99% 0.91%-1.08% b. The table below sets forth a summary of the changes in the fair value of the Forfeiture Shares classified as Level 3: Six months ended June 30, 2022 Year ended December 31, 2021 U.S. dollars in thousands Balance at beginning of period 4,658 — Issuance of Forfeiture Shares — 4,485 Changes in fair value (4,142 ) 173 Balance at end of the period 516 4,658

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	NOTE 8 - STOCK-BASED COMPENSATION: Stock Options The Company’s stock options have a term of up to 10 years from grant date unless extended by the Board of Directors. The granted options generally vest as follows: 25% on the first anniversary from the “Vesting Start Date” as defined in the grant agreement and remainder vest ratably over the following 12 quarters. As of June 30, 2022, and December 31, 2021, the number of ordinary shares included in the Company’s option plans totaled to 28,383,788. 1,884,933 out of the outstanding options that have not yet vested as of June 30, 2022, have acceleration mechanisms according to certain terms set forth in the grant agreements primarily in the case of an M&A Transaction which constitutes a Liquidation Event (as defined in Note 9 in the consolidated financial statement for the year ended December 31, 2021). As of June 30, 2022, the unrecognized compensation costs related to those unvested stock options are $5,899 thousand, which are expected to be recognized over a weighted-average period of 1.87 years. The following is a summary of the status of the Company’s share option plan as of June 30, 2022, as well as changes during the period of six months ended June 30,2022: Six months ended June 30, 2022 Number of Options Weighted- Average Exercise price Options outstanding as of December 31, 2021 15,449,513 $ 0.73 Granted during the period 239,610 $ 6.28 Exercised during the period (512,357 ) $ 0.30 Forfeited during the period (38,017 ) $ 0.86 Options outstanding as of June 30, 2022 15,138,749 $ 0.83 Options exercisable as of June 30, 2022 11,985,418 $ 0.72 The following table summarizes information about stock options outstanding as of June 30, 2022: Outstanding as of June 30, 2022 Exercisable as of June 30, 2022 Range of exercise prices Number outstanding Weighted average remaining contractual term Weighted average exercise price Aggregate intrinsic value (U.S. dollars in thousands) Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value (U.S. dollars in thousands) $0.15-$0.86 14,852,976 5.79 $ 0.73 40,785 11,923,755 5.25 $ 0.70 33,112 $1.87 5,963 8.53 $ 1.87 10 1,863 8.53 $ 1.87 3 $2.10 33,126 2.20 $ 2.10 46 33,126 2.20 $ 2.10 46 $5.36 140,000 7.00 $ 5.36 — — — — — $7.58 99,610 6.55 $ 7.58 — 24,906 6.55 $ 7.58 — $9.07 7,074 9.46 $ 9.07 — 1,768 9.46 $ 9.07 — The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions: For the Six months ended on June 30,2022 For the six months ended on June 30 2021 Expected term 6-10 6-10 Expected volatility 46.73%-47.71% 48.15%-50.7% Expected dividend rate 0% 0% Risk-free rate 1.37%-3.00% 0.61%-1.74% During the six months period ended on June 30, 2022, 239,610 options were granted to related parties (please refer to Note 12 for further information). As of June 30, 2022, the unrecognized compensation costs related to unvested stock options was $11,252 thousand, which are expected to be recognized over a weighted-average period of 2.27 years. The following table presents the classification of the stock options expenses for the periods indicated: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Cost of revenue 114 47 60 (10 ) Research and development 907 755 456 374 Selling, general and administrative 2,059 2,488 1,044 1,331 Total stock-based compensation 3,080 3,290 1,560 1,695 Restricted Stock Units The following is a summary of the status of the Company’s RSU’s as of June 30, 2022, as well as changes during the period of six months ended June 30, 2022: Six months ended June 30, 2022 Number of RSUs Weighted- Average Grant Date Fair Value RSUs outstanding at the beginning of the year 133,384 $ 7.89 Granted during the period 3,699,376 $ 6.24 Exercised during the period (29,907 ) $ 6.79 Forfeited during the period (62,986 ) $ 6.43 Outstanding at the end of the period 3,739,867 $ 6.29 RSUs exercisable at June 30, 2022 — The following table summarizes information about outstanding RSU’s as of June 30, 2022: Outstanding as of June 30, 2022 Exercisable as of June 30, 2022 Range of exercise prices Number Weighted remaining contractual term Weighted average exercise price Aggregate intrinsic value (U.S. dollars in thousands) Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value (U.S. dollars in thousands) $3.31-$3.47 240,000 6.94 $ 3.40 $ 833 — — — — $6.41-$6.43 3,302,159 6.81 $ 6.43 $ 11,491 — — — — $6.80 66,174 6.55 $ 6.80 $ 230 — — — — $7.89 131,534 6.46 $ 7.89 $ 458 — — — — As of June 30, 2022, the unrecognized compensation cost related to unvested RSUs totaled to approximately $19,124 thousand and is expected to be expensed over a weighted-average recognition period of approximately 3.5 years. During the six months ended on June 30, 2022 491,775 RSU’s were granted to several related parties (please refer to Note 12 regarding Related Parties). The following table presents the classification of RSU’s expenses for the periods indicated: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Cost of revenue 155 — 84 — Research and development 1,467 — 809 — Selling, general and administrative 1,206 — 664 — Total stock-based compensation- RSUs 2,828 — 1,557 —

Financial Income, Net

Financial Income, Net	6 Months Ended
	Jun. 30, 2022
Finance Income Net [Abstract]
Financial Income, Net	NOTE 10 - FINANCIAL INCOME, NET: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Foreign currency exchange differences (3,865 ) 239 (3,554 ) 474 Interest income on short-term deposits 404 112 199 37 Other (214 ) (15 ) (205 ) (8 ) Total financial income (expenses), net (3,675 ) 336 (3,560 ) 503

Net Income (loss) Per Ordinary

Net Income (loss) Per Ordinary Shares	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (loss) Per Ordinary Shares	NOTE 9 - NET INCOME (LOSS) PER ORDINARY SHARE: The following table sets forth the computation of basic and diluted net income (loss) per ordinary share for the periods indicated: Six months ended Three months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Basic net loss per ordinary share Numerator: Net loss from continuing operations (15,045 ) (10,074 ) (9,995 ) (3,698 ) Dividend on Series E Redeemable Preferred — (1,788 ) — (906 ) Dividend on Series D Redeemable Preferred — (2,654 ) — (1,346 ) Dividend on Series C Redeemable Preferred — (941 ) — (477 ) Dividend on Series B-2 Redeemable Preferred — (650 ) — (329 ) Dividend on Series B-1 Redeemable Preferred — (262 ) — (129 ) Dividend on Series A Redeemable Preferred — (1,183 ) — (601 ) Numerator for basic and diluted net loss per common share – net loss attributable to common stockholders (15,045 ) (17,552 ) (9,995 ) (7,486 ) Denominator: Denominator for basic and dilutive net loss per common share- adjusted weighted-average share 97,296,206 10,927,357 97,442,359 11,020,299 Basic and dilutive net loss per common share (0.15 ) (1.61 ) (0.10 ) (0.68 ) The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive: Six months ended Three months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Options 15,378,561 16,408,933 15,300,870 16,432,641 Restricted Stock Units 2,748,135 — 3,649,756 — Warrants liability — 40,452 — — Private Warrants 3,330,000 — 3,330,000 — Public Warrants 5,750,000 — 5,750,000 — Forfeiture Shares 1,006,250 — 1,006,250 — Redeemable convertible Preferred A shares — 32,901,384 — 32,901,384 Redeemable convertible Preferred B-1 shares — 10,078,756 — 10,119,208 Redeemable convertible Preferred B-2 shares — 18,670,270 — 18,670,270 Redeemable convertible Preferred C shares — 9,424,938 — 9,424,938 Redeemable convertible Preferred D shares — 19,313,646 — 19,313,646 Redeemable convertible Preferred E shares — 11,080,674 — 11,080,674

Segment and Revenue by Geograph

Segment and Revenue by Geography and by Major Customer	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment and Revenue by Geography and by Major Customer	NOTE 11 - SEGMENT AND REVENUE BY GEOGRAPHY AND BY MAJOR CUSTOMER: a. For the purpose of evaluating financial performance and allocating resources, the CODM reviews financial information presented on a consolidated basis accompanied by disaggregated information about revenues, gross profit and operating loss by the two identified reportable segments, to make decisions about resources to be allocated to the segments and assess their performance. Assets information is not provided to the CODM and is not being reviewed. Revenues and cost of goods sold are directly associated with the activities of a specific segment. Direct operating expenses, including general and administrative expenses, associated with the activities of a specific segment are charged to that segment. General and administrative expenses which cannot be attributed directly, are allocated evenly between segments. Other operating expenses are allocated to segments based on headcount ratio.​​​​​​​ Six months ended on June 30, 2022 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 35,067 9,034 44,101 Gross profit 27,881 3,343 31,224 Research and development expenses 11,392 17,639 29,031 Sales and marketing expenses 3,695 4,987 8,682 General and administrative expenses 4,244 4,397 8,641 Segment operating profit (loss) 8,550 (23,680 ) (15,130 ) Change in fair value of Forfeiture Shares 4,142 Financial expenses, net (3,675 ) Loss before taxes on income (14,663 ) Depreciation expenses 303 364 667 Six months ended on June 30, 2021 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 27,145 3,729 30,874 Gross profit 21,266 733 21,999 Research and development expenses 5,255 16,099 21,354 Sales and marketing expenses 3,437 2,895 6,331 General and administrative expenses 2,303 2,241 4,544 Segment operating profit (loss) 10,271 (20,502 ) (10,231 ) Financial expenses, net 336 Loss before taxes on income (9,895 ) Depreciation expenses 171 351 522 Three months ended on June 30, 2022 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 18,335 4,146 22,481 Gross profit 14,414 1,370 15,784 Research and development expenses 5,122 9,782 14,904 Sales and marketing expenses 1,917 2,556 4,473 General and administrative expenses 2,081 2,259 4,340 Segment operating profit (loss) 5,294 (13,227 ) (7,933 ) Change in fair value of Forfeiture Shares 1,538 Financial expenses, net (3,560 ) Loss before taxes on income (9,955 ) Depreciation expenses 161 186 347 Three months ended on June 30, 2021 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 15,513 1,997 17,510 Gross profit 12,053 414 12,467 Research and development expenses 2,692 8,264 10,956 Sales and marketing expenses 1,648 1,574 3,222 General and administrative expenses 1,176 1,190 2,366 Segment operating profit (loss) 6,537 (10,614 ) (4,077 ) Change in fair value of Forfeiture Shares — Financial expenses, net 503 Loss before taxes on income (3,574 ) Depreciation expenses 22 244 266 b. Geographic Revenues The following table shows revenue by geography, based on the customers’ “bill to” location: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Israel 1,279 779 749 371 China 5,339 8,233 2,533 4,787 United States 7,238 3,834 3,681 1,301 Hong Kong 7,286 5,567 3,965 3,592 Hungary 6,399 3,051 2,486 1,630 Japan 5,274 3,515 3,239 2,487 Other 11,286 5,895 5,828 3,342 44,101 30,874 22,481 17,510 c. Supplemental data - Major Customers: The following tables summarize the significant customers’ (including distributors) accounts receivable and revenues as a percentage of total accounts receivable and total revenues, respectively: June 30, 2022 December 31, 2021 Accounts Receivable U.S. dollars in thousands Customer A 17 % 12 % Customer B 5 % 16 % Customer C 10 % 7 % Six months ended June 30, Three months ended June 30, 2022 2021 2022 2021 Revenues U.S. dollars in thousands U.S. dollars in thousands Customer D 11 % 11 % 14 % 14 % Customer A 10 % 5 % 10 % 5 % Customer E 0 % 12 % 0 % 14 % Customer F 7 % 11 % 7 % 11 % Customer G 6 % 10 % 7 % 12 % d. Property and Equipment by Geography: June 30, 2022 December 31, 2021 U.S. dollars in thousands Domestic (Israel) 2,102 2,259 Taiwan 157 199 China 159 210 USA 153 73 2,571 2,741

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 12 - RELATED PARTY TRANSACTIONS During the six months ended June 30, 2022, the Company granted 239,610 stock options, at a weighted average exercise price of $6.28 to several executive officers, and Board Of Directors (“Board”) members of the Company. In addition, during the six months ended June 30, 2022 the Company granted 491,775 RSUs to several executive officers and Board members of the Company. The fair value of the stock options that were granted during the six months ended June 30, 2022 is $362 thousand, which is expected to be recognized over a 1-year vesting period, and the fair value of the granted RSUs is $2,603 thousand, which is expected to be recognized over a 1

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	a. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In our opinion, the information contained herein reflects all adjustments necessary for a fair statement of our results of operations, financial position, cash flows, and shareholders’ equity. All such adjustments are of a normal, recurring nature. The results of operations for the six and three months ended June 30, 2022 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021 as filed in the Company’s 20-F. There have been no material changes in our significant accounting policies as described in our consolidated financial statements for the year ended December 31, 2021, other than as stated below.
Leases	b. Lease On January 1, 2021 the Company adopted ASU No. 2016-02, Leases (“Topic 842”), The Company determines if an arrangement is a lease at inception. Balances related to operating leases are included in operating lease right-of-use (“ROU”) assets, Current maturities of operating leases liabilities and Non-current operating leases liabilities in the consolidated balance sheets. The Company also elected not ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized as of the commencement date based on the present value of lease payments over the lease term. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The discount rate for the lease is the rate implicit in the lease unless that rate cannot be readily determined. As the Company’s leases do not provide an implicit rate, the Company’s uses its estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term (see also note 4).
New Accounting Pronouncements	c. New Accounting Pronouncements Recently Adopted accounting Standards: In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), on the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for in a manner similar to the accounting under existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASC 842 provides a number of optional practical expedients in transition, which permits the Company not to reassess its prior conclusions regarding lease identification, lease classification and initial direct costs under the new standard. The guidance is effective for the Company for annual periods beginning after December 15, 2021 and interim periods within annual periods beginning after December 15, 2022. The Company adopted ASC 842 on January 1, 2022, using a modified retrospective transition approach, at the effective date, without adjusting the comparative periods. The Company elected to utilize the available package of practical expedients permitted under the transition guidance within ASC 842 which does not require it to reassess the prior conclusions about lease identification, lease classification and initial direct costs. Upon adoption of ASC 842, the Company recognized operating right-of-use assets of $4.9 million with corresponding operating lease liabilities on its consolidated balance sheet as of January 1, 2022. See Note 4 for further details. Recently issued accounting pronouncements, not yet adopted: In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (“ASC 326”): Measurement of Credit Losses on Financial Instruments to introduce a new model for recognizing credit losses on financial instruments based on estimated current expected credit losses, or CECL. Under the new standard, an entity is required to estimate CECL on trade receivables at inception, based on historical information, current conditions, and reasonable and supportable forecasts. ASU No. 2016-13 is effective for the Company for the annual period beginning after December 15, 2022, including interim periods within that reporting period. The Company is currently evaluating the impact of adoption of the new standard on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU No. 2019-12 is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The adoption of this guidance will not have a significant impact on the Company’s consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	June 30, 2022 December 31, 2021 U.S. dollars in thousands Work in process 8,056 4,718 Finished goods 9,262 4,604 17,318 9,322

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Summary of Lease Costs	The table below presents the effects on the amounts relating to the Company’s total lease costs: For the six months ended on June 30,2022 For the three months ended on June 30, 2022 U.S. dollars in thousands Operating lease cost: Fixed Payment 1,184 585
Summary of Supplemental Cash Flow Information Related to Operating Leases	The table below presents supplemental cash flow information related to operating leases: For the six months ended on June 30,2022 For the three months ended on June 30,2022 U.S. dollars in thousands Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases 1,066 509 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases, for initial adoption refer to note 2(c) 350 104
Summary of Supplemental Balance Sheet Information Related to Operating Leases	The table below presents supplemental balance sheet information related to operating leases: June 30, 2022 U.S. dollars in thousands Operating lease right-of-use assets 4,408 Current maturities of operating leases 1,814 Non-current operating leases 2,126 Total operating lease liabilities 3,940 Weighted average remaining lease term (years) 2.5 Weighted annual average discount rate 13.06 %
Summary of Maturities of Lease Liabilities	The table below presents maturities of operating lease liabilities: June 30, 2022 U.S. dollars in 2022 1004 2023 1,863 2024 1,722 2025 26 Total operating lease payments 4,615 Less: imputed interest (675 ) Present value of lease liabilities 3,940

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	June 30, 2022 December 31, 2021 U.S. dollars in thousands Accrued vacation 3,566 3,464 Taxes payable 36 40 Accrued expenses- related party 142 142 Accrued expenses 2,513 2,977 6,257 6,623

Forfeiture Shares (Tables)

Forfeiture Shares (Tables)	6 Months Ended
	Jun. 30, 2022
Schedule of Fair Value of Forfeited Shares	The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions: For the Six months ended on June 30,2022 For the six months ended on June 30 2021 Expected term 6-10 6-10 Expected volatility 46.73%-47.71% 48.15%-50.7% Expected dividend rate 0% 0% Risk-free rate 1.37%-3.00% 0.61%-1.74%
Forfeited Ordinary Shares [Member]
Schedule of Fair Value of Forfeited Shares	The fair value of the Forfeiture Shares was computed using the following key assumptions: June 30, 2022 December 31, 2021 Stock price 3.5 7.7 Expected term (years) 2.25-3.25 2.75-3.75 Expected volatility 48.35%-49.27% 48.77%-48.92% Risk-free interest rate 2.94%-2.99% 0.91%-1.08%
Schedule of Changes in Fair Value of Forfeited Shares	b. The table below sets forth a summary of the changes in the fair value of the Forfeiture Shares classified as Level 3: Six months ended June 30, 2022 Year ended December 31, 2021 U.S. dollars in thousands Balance at beginning of period 4,658 — Issuance of Forfeiture Shares — 4,485 Changes in fair value (4,142 ) 173 Balance at end of the period 516 4,658

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Summary of Share Option Plan	The following is a summary of the status of the Company’s share option plan as of June 30, 2022, as well as changes during the period of six months ended June 30,2022: Six months ended June 30, 2022 Number of Options Weighted- Average Exercise price Options outstanding as of December 31, 2021 15,449,513 $ 0.73 Granted during the period 239,610 $ 6.28 Exercised during the period (512,357 ) $ 0.30 Forfeited during the period (38,017 ) $ 0.86 Options outstanding as of June 30, 2022 15,138,749 $ 0.83 Options exercisable as of June 30, 2022 11,985,418 $ 0.72
Summary of Share Options Outstanding	The following table summarizes information about stock options outstanding as of June 30, 2022: Outstanding as of June 30, 2022 Exercisable as of June 30, 2022 Range of exercise prices Number outstanding Weighted average remaining contractual term Weighted average exercise price Aggregate intrinsic value (U.S. dollars in thousands) Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value (U.S. dollars in thousands) $0.15-$0.86 14,852,976 5.79 $ 0.73 40,785 11,923,755 5.25 $ 0.70 33,112 $1.87 5,963 8.53 $ 1.87 10 1,863 8.53 $ 1.87 3 $2.10 33,126 2.20 $ 2.10 46 33,126 2.20 $ 2.10 46 $5.36 140,000 7.00 $ 5.36 — — — — — $7.58 99,610 6.55 $ 7.58 — 24,906 6.55 $ 7.58 — $9.07 7,074 9.46 $ 9.07 — 1,768 9.46 $ 9.07 —
Summary of Options Granted Estimate the Fair Value of Stock-Based Compensation Award	The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions: For the Six months ended on June 30,2022 For the six months ended on June 30 2021 Expected term 6-10 6-10 Expected volatility 46.73%-47.71% 48.15%-50.7% Expected dividend rate 0% 0% Risk-free rate 1.37%-3.00% 0.61%-1.74%
Summary of Stock Options Expenses	The following table presents the classification of the stock options expenses for the periods indicated: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Cost of revenue 114 47 60 (10 ) Research and development 907 755 456 374 Selling, general and administrative 2,059 2,488 1,044 1,331 Total stock-based compensation 3,080 3,290 1,560 1,695
Summary of the RSU's	The following is a summary of the status of the Company’s RSU’s as of June 30, 2022, as well as changes during the period of six months ended June 30, 2022: Six months ended June 30, 2022 Number of RSUs Weighted- Average Grant Date Fair Value RSUs outstanding at the beginning of the year 133,384 $ 7.89 Granted during the period 3,699,376 $ 6.24 Exercised during the period (29,907 ) $ 6.79 Forfeited during the period (62,986 ) $ 6.43 Outstanding at the end of the period 3,739,867 $ 6.29 RSUs exercisable at June 30, 2022 —
Summary of Share-based Payment Arrangement, Restricted Stock Units Exercise Price Range	The following table summarizes information about outstanding RSU’s as of June 30, 2022: Outstanding as of June 30, 2022 Exercisable as of June 30, 2022 Range of exercise prices Number Weighted remaining contractual term Weighted average exercise price Aggregate intrinsic value (U.S. dollars in thousands) Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value (U.S. dollars in thousands) $3.31-$3.47 240,000 6.94 $ 3.40 $ 833 — — — — $6.41-$6.43 3,302,159 6.81 $ 6.43 $ 11,491 — — — — $6.80 66,174 6.55 $ 6.80 $ 230 — — — — $7.89 131,534 6.46 $ 7.89 $ 458 — — — —
Summary of Classification of RSU's Expenses	The following table presents the classification of RSU’s expenses for the periods indicated: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Cost of revenue 155 — 84 — Research and development 1,467 — 809 — Selling, general and administrative 1,206 — 664 — Total stock-based compensation- RSUs 2,828 — 1,557 —

Financial Income Net (Table)

Financial Income Net (Table)	6 Months Ended
	Jun. 30, 2022
Finance Income Net [Abstract]
Schedule Of Finance Income Net	Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Foreign currency exchange differences (3,865 ) 239 (3,554 ) 474 Interest income on short-term deposits 404 112 199 37 Other (214 ) (15 ) (205 ) (8 ) Total financial income (expenses), net (3,675 ) 336 (3,560 ) 503

Net Income (loss) Per Ordinar_2

Net Income (loss) Per Ordinary Shares (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted net income (loss) per ordinary share	The following table sets forth the computation of basic and diluted net income (loss) per ordinary share for the periods indicated: Six months ended Three months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Basic net loss per ordinary share Numerator: Net loss from continuing operations (15,045 ) (10,074 ) (9,995 ) (3,698 ) Dividend on Series E Redeemable Preferred — (1,788 ) — (906 ) Dividend on Series D Redeemable Preferred — (2,654 ) — (1,346 ) Dividend on Series C Redeemable Preferred — (941 ) — (477 ) Dividend on Series B-2 Redeemable Preferred — (650 ) — (329 ) Dividend on Series B-1 Redeemable Preferred — (262 ) — (129 ) Dividend on Series A Redeemable Preferred — (1,183 ) — (601 ) Numerator for basic and diluted net loss per common share – net loss attributable to common stockholders (15,045 ) (17,552 ) (9,995 ) (7,486 ) Denominator: Denominator for basic and dilutive net loss per common share- adjusted weighted-average share 97,296,206 10,927,357 97,442,359 11,020,299 Basic and dilutive net loss per common share (0.15 ) (1.61 ) (0.10 ) (0.68 )
Schedule of weighted-average Ordinary shares of securities	The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive: Six months ended Three months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Options 15,378,561 16,408,933 15,300,870 16,432,641 Restricted Stock Units 2,748,135 — 3,649,756 — Warrants liability — 40,452 — — Private Warrants 3,330,000 — 3,330,000 — Public Warrants 5,750,000 — 5,750,000 — Forfeiture Shares 1,006,250 — 1,006,250 — Redeemable convertible Preferred A shares — 32,901,384 — 32,901,384 Redeemable convertible Preferred B-1 shares — 10,078,756 — 10,119,208 Redeemable convertible Preferred B-2 shares — 18,670,270 — 18,670,270 Redeemable convertible Preferred C shares — 9,424,938 — 9,424,938 Redeemable convertible Preferred D shares — 19,313,646 — 19,313,646 Redeemable convertible Preferred E shares — 11,080,674 — 11,080,674

Segment and Revenue by Geogra_2

Segment and Revenue by Geography and by Major Customer (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	General and administrative expenses which cannot be attributed directly, are allocated evenly between segments. Other operating expenses are allocated to segments based on headcount ratio. Six months ended on June 30, 2022 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 35,067 9,034 44,101 Gross profit 27,881 3,343 31,224 Research and development expenses 11,392 17,639 29,031 Sales and marketing expenses 3,695 4,987 8,682 General and administrative expenses 4,244 4,397 8,641 Segment operating profit (loss) 8,550 (23,680 ) (15,130 ) Change in fair value of Forfeiture Shares 4,142 Financial expenses, net (3,675 ) Loss before taxes on income (14,663 ) Depreciation expenses 303 364 667 Six months ended on June 30, 2021 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 27,145 3,729 30,874 Gross profit 21,266 733 21,999 Research and development expenses 5,255 16,099 21,354 Sales and marketing expenses 3,437 2,895 6,331 General and administrative expenses 2,303 2,241 4,544 Segment operating profit (loss) 10,271 (20,502 ) (10,231 ) Financial expenses, net 336 Loss before taxes on income (9,895 ) Depreciation expenses 171 351 522 Three months ended on June 30, 2022 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 18,335 4,146 22,481 Gross profit 14,414 1,370 15,784 Research and development expenses 5,122 9,782 14,904 Sales and marketing expenses 1,917 2,556 4,473 General and administrative expenses 2,081 2,259 4,340 Segment operating profit (loss) 5,294 (13,227 ) (7,933 ) Change in fair value of Forfeiture Shares 1,538 Financial expenses, net (3,560 ) Loss before taxes on income (9,955 ) Depreciation expenses 161 186 347 Three months ended on June 30, 2021 Audio- Video Automotive Consolidated U.S. dollars in thousands Revenues 15,513 1,997 17,510 Gross profit 12,053 414 12,467 Research and development expenses 2,692 8,264 10,956 Sales and marketing expenses 1,648 1,574 3,222 General and administrative expenses 1,176 1,190 2,366 Segment operating profit (loss) 6,537 (10,614 ) (4,077 ) Change in fair value of Forfeiture Shares — Financial expenses, net 503 Loss before taxes on income (3,574 ) Depreciation expenses 22 244 266
Schedule of Geographic Revenues	The following table shows revenue by geography, based on the customers’ “bill to” location: Six months ended June 30 Three months ended June 30 2022 2021 2022 2021 U.S. dollars in thousands Israel 1,279 779 749 371 China 5,339 8,233 2,533 4,787 United States 7,238 3,834 3,681 1,301 Hong Kong 7,286 5,567 3,965 3,592 Hungary 6,399 3,051 2,486 1,630 Japan 5,274 3,515 3,239 2,487 Other 11,286 5,895 5,828 3,342 44,101 30,874 22,481 17,510
Schedule of Supplemental data - Major Customers	The following tables summarize the significant customers’ (including distributors) accounts receivable and revenues as a percentage of total accounts receivable and total revenues, respectively: June 30, 2022 December 31, 2021 Accounts Receivable U.S. dollars in thousands Customer A 17 % 12 % Customer B 5 % 16 % Customer C 10 % 7 % Six months ended June 30, Three months ended June 30, 2022 2021 2022 2021 Revenues U.S. dollars in thousands U.S. dollars in thousands Customer D 11 % 11 % 14 % 14 % Customer A 10 % 5 % 10 % 5 % Customer E 0 % 12 % 0 % 14 % Customer F 7 % 11 % 7 % 11 % Customer G 6 % 10 % 7 % 12 %
Schedule of Property and Equipment by Geography	d. Property and Equipment by Geography: June 30, 2022 December 31, 2021 U.S. dollars in thousands Domestic (Israel) 2,102 2,259 Taiwan 157 199 China 159 210 USA 153 73 2,571 2,741

General - Additional Informatio

General - Additional Information (Detail) $ in Millions	Sep. 29, 2021 USD ($)
Merger Agreement Closing [Member] | PIPE Financing [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from merger and issuance of common stock	$ 131.6

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jan. 01, 2022
Accounting Standards Update 2016-02 [Member]
Operating Lease Liability		$ 4.9
Equal To Or Less Than Twelve Month [Member]
Contractual term of operating leases	12 months

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Work in process	$ 8,056	$ 4,718
Finished goods	9,262	4,604
Inventories	$ 17,318	$ 9,322

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) m² Vehicles
Leasee Operating Leases [Line Items]
Number of vehicles under lease | Vehicles	30
Office Building [Member]
Leasee Operating Leases [Line Items]
Net rentable area | m²	5,500
Lessee, Operating lease, Expiration period	February 28, 2023
Payments for rent	$ 10
Lessee, Operating lease, Option to extend, End date	Feb. 28, 2025
Lessee, Operating lease, Option to extend	option to extend the lease period by additional two years until February 28, 2025
Office Building [Member] | Israel [Member]
Leasee Operating Leases [Line Items]
Payments for rent	$ 132
Vehicles [Member]
Leasee Operating Leases [Line Items]
Payments for rent	$ 27
Lessee, Operating lease, Term of contract	3 years

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Lease, Cost [Abstract]
Fixed Payment	$ 585	$ 1,184

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 509	$ 1,066
Right-of-use assets obtained in exchange for lease obligations (non-cash):
Operating leases, for initial adoption refer to note 2(c)	$ 104	$ 350

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Summary Of Supplement Balance Sheet Information Relating To Operating Leases [Abstract]
Operating lease right-of-use assets	$ 4,408	$ 0
Current maturities of operating leases	1,814	0
Non-current operating leases	2,126	$ 0
Total operating lease liabilities	$ 3,940
Weighted average remaining lease term (years)	2 years 6 months
Weighted annual average discount rate	13.06%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 1,004
2023	1,863
2024	1,722
2025	26
Total operating lease payments	4,615
Less: imputed interest	(675)
Present value of lease liabilities	$ 3,940

Other Current Liabilities - Sum

Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrued vacation	$ 3,566	$ 3,464
Taxes payable	36	40
Accrued expenses- related party	142	142
Accrued expenses	2,513	2,977
Other current liabilities	$ 6,257	$ 6,623

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Total value of open purchase orders	$ 27,563	$ 50,591
Purchase obligation	$ 4,557	$ 6,563

Forfeiture Shares - Summary Of

Forfeiture Shares - Summary Of Fair Value of Forfeited Shares (Detail) - $ / shares		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range, Minimum		46.73%	48.15%
Expected volatility range, Maximum		47.71%	50.70%
Risk-free rate range, Minimum		1.37%	0.61%
Risk-free rate range, Maximum		3%	1.74%
Forfeited Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price	$ 3.5	$ 3.5		$ 7.7
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	4 years	10 years	10 years
Maximum [Member] | Forfeited Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		3 years 3 months		3 years 9 months
Expected volatility range, Maximum		49.27%		48.92%
Risk-free rate range, Maximum		2.99%		1.08%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	3 years	6 years	6 years
Minimum [Member] | Forfeited Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		2 years 3 months		2 years 9 months
Expected volatility range, Minimum		48.35%		48.77%
Risk-free rate range, Minimum		2.94%		0.91%

Forfeiture Shares - Summary o_2

Forfeiture Shares - Summary of Changes In Fair Value Of Forfeited Shares (Detail) - Changes Measurement [Member] - Forfeited Shares [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of year	$ 4,658	$ 0
Issuance of Forfeiture Shares	0	4,485
Changes in fair value	(4,142)	173
Balance at end of year	$ 516	$ 4,658

Forfeiture Shares - Additional

Forfeiture Shares - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Method Used For Calculating Fair Value , Monte-Carlo Simulation		Monte-Carlo simulation
Fair value Of shares		$ 4,485
Expected volatility range, Minimum		46.73%	48.15%
Expected volatility range, Maximum		47.71%	50.70%
Risk-free rate range, Minimum		1.37%	0.61%
Risk-free rate range, Maximum		3%	1.74%
Monte Carlo simulation [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Stock price per share	$ 7.4	$ 7.4
Expected volatility range, Minimum		47.74%
Expected volatility range, Maximum		50.31%
Risk-free rate range, Minimum		0.53%
Risk-free rate range, Maximum		0.76%
Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected Term In years	4 years	10 years	10 years
Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected Term In years	3 years	6 years	6 years
PTK Sponsor [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number Of Shares Issued With Respect To Forfeiture On Failure Of Targets		1,006,250

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Share Option Plan (Detail)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options outstanding, Beginning balance | shares	15,449,513
Number of Options, Granted | shares	239,610
Number of Options, Exercised | shares	(512,357)
Number of Options, Forfeited | shares	(38,017)
Number of Options outstanding, Ending balance | shares	15,138,749
Number of Options, exercisable | shares	11,985,418
Weighted- Average Exercise price, Beginning balance | $ / shares	$ 0.73
Weighted- Average Exercise price, Granted | $ / shares	6.28
Weighted- Average Exercise price, Exercised | $ / shares	0.3
Weighted- Average Exercise price, Forfeited | $ / shares	0.86
Weighted- Average Exercise price, Ending balance | $ / shares	0.83
Weighted- Average Exercise price, exercisable | $ / shares	$ 0.72

Stock-based Compensation - Su_2

Stock-based Compensation - Summary of Share Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding	15,138,749	15,449,513
Weighted average exercise price	$ 0.83	$ 0.73
Number of Options, exercisable	11,985,418
Weighted- Average Exercise price, exercisable	$ 0.72
Range Of Exercise Price One [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Lower Range Limit	0.15
Upper Range Limit	$ 0.86
Number outstanding	14,852,976
Weighted average remaining contractual term	5 years 9 months 14 days
Weighted average exercise price	$ 0.73
Aggregate intrinsic value	$ 40,785
Number of Options, exercisable	11,923,755
Weighted average remaining contractual term	5 years 3 months
Weighted- Average Exercise price, exercisable	$ 0.7
Aggregate intrinsic value	$ 33,112
Range Of Exercise Price Two [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 1.87
Number outstanding	5,963
Weighted average remaining contractual term	8 years 6 months 10 days
Weighted average exercise price	$ 1.87
Aggregate intrinsic value	$ 10
Number of Options, exercisable	1,863
Weighted average remaining contractual term	8 years 6 months 10 days
Weighted- Average Exercise price, exercisable	$ 1.87
Aggregate intrinsic value	$ 3
Range Of Exercise Price Three [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 2.1
Number outstanding	33,126
Weighted average remaining contractual term	2 years 2 months 12 days
Weighted average exercise price	$ 2.1
Aggregate intrinsic value	$ 46
Number of Options, exercisable	33,126
Weighted average remaining contractual term	2 years 2 months 12 days
Weighted- Average Exercise price, exercisable	$ 2.1
Aggregate intrinsic value	$ 46
Range Of Exercise Price Four [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 5.36
Number outstanding	140,000
Weighted average remaining contractual term	7 years
Weighted average exercise price	$ 5.36
Range Of Exercise Price Five [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 7.58
Number outstanding	99,610
Weighted average remaining contractual term	6 years 6 months 18 days
Weighted average exercise price	$ 7.58
Number of Options, exercisable	24,906
Weighted average remaining contractual term	6 years 6 months 18 days
Weighted- Average Exercise price, exercisable	$ 7.58
Range Of Exercise Price Six [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 9.07
Number outstanding	7,074
Weighted average remaining contractual term	9 years 5 months 15 days
Weighted average exercise price	$ 9.07
Number of Options, exercisable	1,768
Weighted average remaining contractual term	9 years 5 months 15 days
Weighted- Average Exercise price, exercisable	$ 9.07

Stock-based Compensation - Su_3

Stock-based Compensation - Summary of Options Granted Estimate the Fair Value of Stock-Based Compensation Award (Detail)		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected volatility range, Minimum		46.73%	48.15%
Expected volatility range, Maximum		47.71%	50.70%
Expected dividend rate		0%	0%
Risk-free rate range, Minimum		1.37%	0.61%
Risk-free rate range, Maximum		3%	1.74%
Minimum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected term	3 years	6 years	6 years
Maximum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected term	4 years	10 years	10 years

Stock-based Compensation - Su_4

Stock-based Compensation - Summary of Stock Options Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 1,560	$ 1,695	$ 3,080	$ 3,290
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	60	(10)	114	47
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	456	374	907	755
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 1,044	$ 1,331	$ 2,059	$ 2,488

Stock-based Compensation - Su_5

Stock-based Compensation - Summary of the RSU's (Detail) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options outstanding, Beginning balance	133,384
Number of Options, Granted	3,699,376
Number of Options, Exercised	(29,907)
Number of Options, Forfeited	(62,986)
Number of Options outstanding, Ending balance	3,739,867
Number of Options, exercisable	0
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares	$ 7.89
Weighted-Average Grant Date Fair Value, Granted | $ / shares	$ 6.24
Weighted-Average Grant Date Fair Value, Exercised	6.79
Weighted-Average Grant Date Fair Value, Exercised | $ / shares	$ 6.43
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares	$ 6.29

Stock-based Compensation - Su_6

Stock-based Compensation - Summary of Share-based Payment Arrangement, Restricted Stock Units Exercise Price Range (Detail) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Number outstanding	3,739,867	133,384
Outstanding, Weighted average exercise price	$ 6.29	$ 7.89
Range Of Exercise Price One [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Number outstanding	240,000
Outstanding, Weighted average remaining contractual term	6 years 11 months 8 days
Outstanding, Weighted average exercise price	$ 3.4
Outstanding, Aggregate intrinsic value	$ 833
Range Of Exercise Price One [Member] | Maximum [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	$ 3.47
Range Of Exercise Price One [Member] | Minimum [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	$ 3.31
Range Of Exercise Price Two [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Number outstanding	3,302,159
Outstanding, Weighted average remaining contractual term	6 years 9 months 21 days
Outstanding, Weighted average exercise price	$ 6.43
Outstanding, Aggregate intrinsic value	$ 11,491
Range Of Exercise Price Two [Member] | Maximum [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	$ 6.43
Range Of Exercise Price Two [Member] | Minimum [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	6.41
Range Of Exercise Price Three [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	$ 6.8
Outstanding, Number outstanding	66,174
Outstanding, Weighted average remaining contractual term	6 years 6 months 18 days
Outstanding, Weighted average exercise price	$ 6.8
Outstanding, Aggregate intrinsic value	$ 230
Range Of Exercise Price Four [Member]
Schedule Of Share Based Compensation Shares Authorized Under Equity Instruments Other Than Options By Exercise Price Range [Line Items]
Outstanding, Range Of Exercise Prices	$ 7.89
Outstanding, Number outstanding	131,534
Outstanding, Weighted average remaining contractual term	6 years 5 months 15 days
Outstanding, Weighted average exercise price	$ 7.89
Outstanding, Aggregate intrinsic value	$ 458

Stock-based Compensation - Su_7

Stock-based Compensation - Summary of Classification of RSU's Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation-RSUs	$ 3,117	$ 1,695	$ 5,908	$ 3,290
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation-RSUs	84		155
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation-RSUs	809		1,467
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation-RSUs	664		1,206
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation-RSUs	$ 1,557		$ 2,828

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) Quarters shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	239,610
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award equity instruments granted	3,699,376
Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $	$ 19,124
Cost Expected to be Expensed, Weighted Average Period	3 years 6 months
Restricted Stock Units (RSUs) [Member] | Related Parties [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award equity instruments granted	491,775
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Costs | $	$ 5,899
Cost Expected to be Expensed, Weighted Average Period	1 year 10 months 13 days
Share-based Payment Arrangement, Option [Member] | Merger and Acquisition Transaction [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Costs | $	$ 11,252
Cost Expected to be Expensed, Weighted Average Period	2 years 3 months 7 days
Number Of Outstanding Options Unvested	1,884,933
Share-based Payment Arrangement, Option [Member] | Related Parties [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	239,610
Valens Semiconductor Ltd. 2021 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based Payment Award, Expiration Period	10 years
Sharebased Payment Award, Vesting Rights Percentage	25%
Share based Payment Award, Vesting Rights Remaining Spread In Quarters | Quarters	12
Ordinary Shares, Reserved For Issuance	28,383,788	28,383,788

Financial Income Net - Summary

Financial Income Net - Summary Of Finance Income Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finance Income Net [Abstract]
Foreign currency exchange differences	$ (3,554)	$ 474	$ (3,865)	$ 239
Interest income on short-term deposits	199	37	404	112
Other	(205)	(8)	(214)	(15)
Total financial income, net	$ (3,560)	$ 503	$ (3,675)	$ 336

Net Income (loss) Per Ordinar_3

Net Income (loss) Per Ordinary Shares - Summary of Basic And Diluted Net Income (Loss) Per Ordinary Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic net loss per ordinary Share
Net loss from continuing operations	$ (9,995)	$ (3,698)	$ (15,045)	$ (10,074)
Numerator for basic and diluted net loss per common share net loss attributable to common stockholders	$ (9,995)	$ (7,486)	$ (15,045)	$ (17,552)
Denominator for basic net loss per common share- adjusted weighted-average share	97,442,359	11,020,299	97,296,206	10,927,357
Denominator for dilutive net loss per common share- adjusted weighted-average share	97,442,359	11,020,299	97,296,206	10,927,357
Basic net loss per common share	$ (0.1)	$ (0.68)	$ (0.15)	$ (1.61)
Dilutive net loss per common share	$ (0.1)	$ (0.68)	$ (0.15)	$ (1.61)
Series E Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		$ (906)		$ (1,788)
Series D Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		(1,346)		(2,654)
Series C Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		(477)		(941)
Series B-2 Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		(329)		(650)
Series B-1 Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		(129)		(262)
Series A Redeemable Preferred Stock [Member]
Basic net loss per ordinary Share
Redeemable Preferred Stock Dividends		$ (601)		$ (1,183)

Net Income (loss) Per Ordinar_4

Net Income (loss) Per Ordinary Shares - Summary of Weighted Average Ordinary Shares of Securities (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Series A Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		32,901,384		32,901,384
Series B-1 Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		10,119,208		10,078,756
Series B-2 Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		18,670,270		18,670,270
Series C Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		9,424,938		9,424,938
Series D Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		19,313,646		19,313,646
Series E Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		11,080,674		11,080,674
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15,300,870	16,432,641	15,378,561	16,408,933
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,649,756		2,748,135
Warrant Liability [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				40,452
Public Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,750,000		5,750,000
Private Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,330,000		3,330,000
Forfeilture Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,006,250		1,006,250

Segment and Revenue by Geogra_3

Segment and Revenue by Geography and by Major Customer - Summary of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 22,481	$ 17,510	$ 44,101	$ 30,874
Gross profit	15,784	12,467	31,224	21,999
Research and development expenses	(14,904)	(10,956)	(29,031)	(21,354)
Sales and marketing expenses	(4,473)	(3,222)	(8,682)	(6,332)
General and administrative expenses	(4,340)	(2,366)	(8,641)	(4,544)
Segment operating profit (loss)	(7,933)	(4,077)	(15,130)	(10,231)
Change in Fair Value of Forfeiture Shares	1,538	0	4,142	0
Financial income (expenses), net	(3,560)	503	(3,675)	336
Loss before taxes on income	(9,998)	(3,698)	(15,052)	(10,074)
Depreciation expenses	347	266	667	522
consolidated [Member]
Segment Reporting Information [Line Items]
Revenues	22,481	17,510	44,101	30,874
Gross profit	15,784	12,467	31,224	21,999
Research and development expenses	14,904	10,956	29,031	21,354
Sales and marketing expenses	4,473	3,222	8,682	6,331
General and administrative expenses	4,340	2,366	8,641	4,544
Segment operating profit (loss)	(7,933)	(4,077)	(15,130)	(10,231)
Change in Fair Value of Forfeiture Shares	1,538	0
Financial income (expenses), net	(3,560)	503		336
Loss before taxes on income	(9,955)	(3,574)	(14,663)	(9,895)
Depreciation expenses	347	266	667	522
Audio Video [Member]
Segment Reporting Information [Line Items]
Revenues	18,335	15,513	35,067	27,145
Gross profit	14,414	12,053	27,881	21,266
Research and development expenses	5,122	2,692	11,392	5,255
Sales and marketing expenses	1,917	1,648	3,695	3,437
General and administrative expenses	2,081	1,176	4,244	2,303
Segment operating profit (loss)	5,294	6,537	8,550	10,271
Depreciation expenses	161	22	303	171
Automotive [Member]
Segment Reporting Information [Line Items]
Revenues	4,146	1,997	9,034	3,729
Gross profit	1,370	414	3,343	733
Research and development expenses	9,782	8,264	17,639	16,099
Sales and marketing expenses	2,556	1,574	4,987	2,895
General and administrative expenses	2,259	1,190	4,397	2,241
Segment operating profit (loss)	(13,227)	(10,614)	(23,680)	(20,502)
Depreciation expenses	$ 186	$ 244	$ 364	$ 351

Segment and Revenue by Geogra_4

Segment and Revenue by Geography and by Major Customer - Summary of Geographic Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Geographic Areas Revenues From External Customers [Line Items]
Revenues	$ 22,481	$ 17,510	$ 44,101	$ 30,874
Israel
Geographic Areas Revenues From External Customers [Line Items]
Revenues	749	371	1,279	779
China
Geographic Areas Revenues From External Customers [Line Items]
Revenues	2,533	4,787	5,339	8,233
Hong Kong
Geographic Areas Revenues From External Customers [Line Items]
Revenues	3,965	3,592	7,286	5,567
United States
Geographic Areas Revenues From External Customers [Line Items]
Revenues	3,681	1,301	7,238	3,834
Japan
Geographic Areas Revenues From External Customers [Line Items]
Revenues	3,239	2,487	5,274	3,515
Other
Geographic Areas Revenues From External Customers [Line Items]
Revenues	5,828	3,342	11,286	5,895
Hungary
Geographic Areas Revenues From External Customers [Line Items]
Revenues	$ 2,486	$ 1,630	$ 6,399	$ 3,051

Segment and Revenue by Geogra_5

Segment and Revenue by Geography and by Major Customer - Summary of Supplemental data - Major Customers (Detail) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue Benchmark [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			17%		12%
Revenue Benchmark [Member] | Customer B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			5%		16%
Revenue Benchmark [Member] | Customer C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			10%		7%
Accounts Receivable [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10%	5%	10%	5%
Accounts Receivable [Member] | Customer D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14%	14%	11%	11%
Accounts Receivable [Member] | Customer E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	0%	14%	0%	12%
Accounts Receivable [Member] | Customer F [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	7%	11%	7%	11%
Accounts Receivable [Member] | Customer G [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	7%	12%	6%	10%

Segment and Revenue by Geogra_6

Segment and Revenue by Geography and by Major Customer - Summary of Property and Equipment by Geography (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Geographic Areas Long Lived Assets [Line Items]
Property, Plant and Equipment, Net	$ 2,571	$ 2,741
Domestic (Israel)
Geographic Areas Long Lived Assets [Line Items]
Property, Plant and Equipment, Net	2,102	2,259
Taiwan
Geographic Areas Long Lived Assets [Line Items]
Property, Plant and Equipment, Net	157	199
China
Geographic Areas Long Lived Assets [Line Items]
Property, Plant and Equipment, Net	159	210
USA
Geographic Areas Long Lived Assets [Line Items]
Property, Plant and Equipment, Net	$ 153	$ 73

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Related Party Transaction [Line Items]
Share-based compensation arrangement by share-based payment award options grants in period gross	239,610
Share-based compensation arrangement by share-based payment award options grants in period Weighted average exercise price | $ / shares	$ 6.28
Non Executive Officers and Board Members [Member] | Share-based Payment Arrangement, Option [Member]
Related Party Transaction [Line Items]
Share-based compensation arrangement by share-based payment award options grants in period gross	239,610
Share-based compensation arrangement by share-based payment award options grants in period Weighted average exercise price | $ / shares	$ 6.28
Share Based Compensation Arrangement by Share Based Payment Award Options Granted in Period Fair Value | $	$ 362
Nonvested award cost not yet recognized period for recognition	1 year
Board Members [Member] | Restricted Stock Units (RSUs) [Member]
Related Party Transaction [Line Items]
Share-based compensation arrangement by share-based payment award non option equity instruments granted	491,775
dummy | $	$ 2,603
Board Members [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Nonvested award cost not yet recognized period for recognition	1 year
Board Members [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Nonvested award cost not yet recognized period for recognition	4 years