Valens Semiconductor (VLN) 6-K 9 Aug 23 Condensed Consolidated Financial Statements Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2023
Document Information Line Items
Entity Registrant Name	VALENS SEMICONDUCTOR LTD.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001863006
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 21,410	$ 20,024
Short-term deposits	116,632	128,363
Trade accounts receivable	16,057	11,514
Prepaid expenses and other current assets	4,376	4,793
Inventories	19,017	23,816
TOTAL CURRENT ASSETS	177,492	188,510
LONG-TERM ASSETS:
Property and equipment, net	3,076	2,790
Operating lease right-of-use assets	3,274	3,824
Other assets	494	535
TOTAL LONG-TERM ASSETS	6,844	7,149
TOTAL ASSETS	184,336	195,659
CURRENT LIABILITIES:
Trade accounts payable	3,896	10,651
Accrued compensation	5,198	6,206
Current maturities of operating leases liabilities	1,857	1,811
Other current liabilities	5,775	6,121
TOTAL CURRENT LIABILITIES	16,726	24,789
LONG-TERM LIABILITIES:
Forfeiture Shares, no par value: 1,006,250 shares authorized, issued and outstanding as of June 30, 2023, and December 31, 2022	222	1,751
Non-current operating leases liabilities	989	1,624
Other long-term liabilities	122	54
TOTAL LONG-TERM LIABILITIES	1,333	3,429
TOTAL LIABILITIES	18,059	28,218
COMMITMENTS AND CONTINGENT LIABILITIES (note 5)
SHAREHOLDERS’ EQUITY:
Ordinary shares, no par value: 700,000,000 shares authorized as of June 30, 2023, and December 31, 2022; 101,843,066, and 98,876,266 (excluding 1,006,250 ordinary shares subject to forfeiture) shares issued and outstanding as of June 30, 2023, and December 31, 2022, respectively	49	49
Additional paid-in capital	333,862	325,067
Accumulated deficit	(167,634)	(157,675)
TOTAL SHAREHOLDERS’ EQUITY	166,277	167,441
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 184,336	$ 195,659

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Forfeiture shares, no par value (in Dollars per share)	$ 0	$ 0
Forfeiture shares, authorized	1,006,250	1,006,250
Forfeiture shares, issued	1,006,250	1,006,250
Forfeiture shares, outstanding	1,006,250	1,006,250
Ordinary shares, no par value (in Dollars per share)	$ 0	$ 0
Ordinary shares, shares authorized	700,000,000	700,000,000
Ordinary shares, shares issued	101,843,066	101,843,066
Ordinary shares, shares outstanding	98,876,266	98,876,266

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
REVENUES	$ 24,175	$ 22,481	$ 48,055	$ 44,101
COST OF REVENUES	(9,241)	(6,697)	(17,328)	(12,877)
GROSS PROFIT	14,934	15,784	30,727	31,224
OPERATING EXPENSES:
Research and development expenses	(12,161)	(14,904)	(26,121)	(29,031)
Sales and marketing expenses	(4,255)	(4,473)	(9,315)	(8,682)
General and administrative expenses	(3,701)	(4,340)	(7,533)	(8,641)
TOTAL OPERATING EXPENSES	(20,117)	(23,717)	(42,969)	(46,354)
OPERATING LOSS	(5,183)	(7,933)	(12,242)	(15,130)
Change in fair value of Forfeiture Shares	22	1,538	1,529	4,142
Financial income (expenses), net	601	(3,560)	792	(3,675)
LOSS BEFORE INCOME TAXES	(4,560)	(9,955)	(9,921)	(14,663)
INCOME TAXES	(26)	(43)	(45)	(389)
LOSS AFTER INCOME TAXES	(4,586)	(9,998)	(9,966)	(15,052)
Equity in earnings of an investee	4	3	7	7
NET LOSS	$ (4,582)	$ (9,995)	$ (9,959)	$ (15,045)
Basic and diluted net loss per ordinary share (in Dollars per share)	$ (0.05)	$ (0.1)	$ (0.1)	$ (0.15)
Weighted average number of shares used in computing net loss per ordinary share (in Shares)	101,685,915	97,442,359	101,381,153	97,296,206

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Diluted net loss per ordinary share	$ (0.05)	$ (0.10)	$ (0.10)	$ (0.15)
Weighted average number of shares used in computing net loss per ordinary share, dluted	101,685,915	97,442,359	101,381,153	97,296,206

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands		Ordinary shares	Additional paid- in capital	Accumulated deficit	Total
Balance at Dec. 31, 2021		$ 49	$ 312,156	$ (130,008)	$ 182,197
Balance (in Shares) at Dec. 31, 2021	[1]	97,122,405
Exercise of options and vesting of RSUs			150		150
Exercise of options and vesting of RSUs (in Shares)		542,264
Stock-based compensation			5,908		5,908
Net loss for the period				(15,045)	(15,045)
Balance at Jun. 30, 2022		$ 49	318,214	(145,053)	173,210
Balance (in Shares) at Jun. 30, 2022	[1]	97,664,669
Balance at Mar. 31, 2022		$ 49	315,001	(135,058)	179,992
Balance (in Shares) at Mar. 31, 2022	[1]	97,191,467
Exercise of options and vesting of RSUs			96		96
Exercise of options and vesting of RSUs (in Shares)		473,202
Stock-based compensation			3,117		3,117
Net loss for the period				(9,995)	(9,995)
Balance at Jun. 30, 2022		$ 49	318,214	(145,053)	173,210
Balance (in Shares) at Jun. 30, 2022	[1]	97,664,669
Balance at Dec. 31, 2022		$ 49	325,067	(157,675)	167,441
Balance (in Shares) at Dec. 31, 2022	[1]	98,876,266
Exercise of options and vesting of RSUs			986		986
Exercise of options and vesting of RSUs (in Shares)		2,966,800
Stock-based compensation			7,809		7,809
Net loss for the period				(9,959)	(9,959)
Balance at Jun. 30, 2023		$ 49	333,862	(167,634)	166,277
Balance (in Shares) at Jun. 30, 2023	[1]	101,843,066
Balance at Mar. 31, 2023		$ 49	329,817	(163,052)	166,814
Balance (in Shares) at Mar. 31, 2023	[1]	101,465,926
Exercise of options and vesting of RSUs			58		58
Exercise of options and vesting of RSUs (in Shares)		377,140
Stock-based compensation			3,987		3,987
Net loss for the period				(4,582)	(4,582)
Balance at Jun. 30, 2023		$ 49	$ 333,862	$ (167,634)	$ 166,277
Balance (in Shares) at Jun. 30, 2023	[1]	101,843,066
[1]Excluding 1,006,250 Forfeiture Shares

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$ (4,582)	$ (9,995)	$ (9,959)	$ (15,045)
Income and expense items not involving cash flows:
Depreciation	414	347	793	667
Stock-based compensation	3,987	3,117	7,809	5,908
Exchange rate differences	1,021	4,501	2,273	4,972
Interest on short-term deposits	177	(132)	(389)	(295)
Change in fair value of Forfeiture Shares	(22)	(1,538)	(1,529)	(4,142)
Reduction in the carrying amount of ROU assets	522	424	986	844
Equity in earnings of investee, net of dividend received	4	3	7	7
Changes in operating assets and liabilities:
Trade accounts receivable	(3,176)	166	(4,575)	(2,952)
Prepaid expenses and other current assets	1,042	3,245	403	3,763
Inventories	4,549	(4,852)	4,799	(7,996)
Other assets	(8)	83	34	183
Trade accounts payable	(1,475)	1,691	(6,948)	2,779
Accrued compensation	158	508	(1,008)	329
Other current liabilities	(1,797)	(1,010)	(216)	(366)
Change in operating lease liabilities	(457)	(811)	(859)	(1,312)
Other long-term liabilities	1	2	68	2
Net cash provided by (used in) operating activities	358	(4,251)	(8,311)	(12,654)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in short-term deposits	(68,428)	(13,088)	(109,153)	(31,340)
Maturities of short-term deposits	74,810	21,900	118,954	37,400
Purchase of property and equipment	(777)	(244)	(919)	(424)
Net cash provided by investing activities	5,605	8,568	8,882	5,636
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of stock options	58	96	986	150
Net cash provided by financing activities	58	96	986	150
Effect of exchange rate changes on cash and cash equivalents	(100)	(2,830)	(171)	(3,346)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,921	1,583	1,386	(10,214)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	15,489	44,994	20,024	56,791
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	21,410	46,577	21,410	46,577
SUPPLEMENT DISCLOSURE OF CASH FLOW INFORMATION -
Cash paid for taxes	213	65	252	121
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Trade accounts payable on account on property and equipment	35		160	73
Operating lease liabilities arising from obtaining operating right-of-use assets	$ 152	$ 104	$ 436	$ 350

General

General	6 Months Ended
	Jun. 30, 2023
General [Abstract]
GENERAL	NOTE 1 - GENERAL: Valens Semiconductor Ltd. (hereafter “Valens”, and together with its wholly owned subsidiaries, the “Company”), was incorporated in Israel in 2006. As of September 30, 2021, the Company began trading on the New York Stock Exchange under the Symbol “VLN”. Please also refer to Note 1(c) in the consolidated financial statement for the year ended December 31, 2022. 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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, 2023, shown in these financial statements are not necessarily indicative of the results to be expected for the full year ending December 31, 2023. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022. The carrying value of cash and cash equivalents, accounts receivables, deposits and accounts payable (included in the condensed consolidated balance sheets) approximates their fair value because of their generally short maturities. There have been no material changes in our significant accounting policies as described in our consolidated financial statements for the year ended December 31, 2022, other than as stated below. b. Accounts receivable, net Trade accounts receivable are recorded at the invoiced amount and do not include finance charges. The Company performs ongoing credit evaluation of its customers and generally requires no collateral. The Company’s accounts receivables accounting policy from January 1, 2023, following the adoption of the new CECL standard: The Company estimates CECL on trade receivables at inception for estimated losses resulting from the inability of the Company’s customers to make required payments, based on estimated current expected credit losses. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering historical information, current market conditions and reasonable and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. There were no write-offs of accounts receivable for the six and three months ended June 30, 2023, and 2022, respectively. There are no expected credit losses recorded as of June 30, 2023, and December 31, 2022. The Company’s accounts receivables accounting policy until December 31, 2022, prior to the adoption of the new CECL standard: The Company assesses the need for allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments by considering factors such as historical collection experience, credit quality, aging of the accounts receivable balances and current economic conditions that may affect a customer’s ability to pay. c. New Accounting Pronouncements Recently Adopted accounting Standards: 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. The guidance is effective for the Company for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Early application is permitted. The Company adopted ASC 326 on January 1, 2023, and there was no material impact on the Company’s consolidated balance sheet and the consolidated statements of operations upon adoption.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 3 – INVENTORIES: June 30, December 31, U.S. dollars in thousands Work in process 8,434 9,870 Finished goods 10,583 13,946 19,017 23,816 Inventories write-downs amounted to $397 thousand and $0 thousand during the six months ended June 30, 2023, and 2022, respectively. Inventories write-downs amounted to $273 thousand and $0 thousand during the three months ended June 30, 2023, and 2022, respectively. Inventories write-downs are recorded in cost of revenues.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 4 - 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, 2023, and December 31, 2022, the total value of open purchase orders for such manufacturing contractors was approximately $10,038 thousand and $19,418 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, 2023, and December 31, 2022, the value of non-paid amounts related to such agreements totaled to $1,502 thousand and $2,783 thousand, respectively. b. Legal proceedings As of June 30, 2023, 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 action, suit, proceeding or investigation by the Company currently pending or that the Company intends to initiate.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Other Current Liabilities [Abstract]
OTHER CURRENT LIABILITIES	NOTE 5 - OTHER CURRENT LIABILITIES: June 30, December 31, U.S. dollars in thousands Accrued vacation 3,387 3,203 Taxes payable 37 514 Contract liabilities 32 175 Accrued expenses- related party 142 142 Other Accrued expenses 2,177 2,087 5,775 6,121 The amounts of revenues that were included in the contract liabilities’ balance as of December 31, 2022 and December 31, 2021 and were recognized in the period of six months ended June 30, 2023, and June 30, 2022, were $175 and $0 respectively.

Forfeiture Shares

Forfeiture Shares	6 Months Ended
	Jun. 30, 2023
Forfeiture Shares [Abstract]
FORFEITURE SHARES	NOTE 6 - FORFEITURE SHARES: a. On September 29, 2021 (the “Closing Date”, please refer to note 1c of the financial statements as of December 31, 2022), 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, please refer to note 1c of the financial statements as of December 31, 2022), does not occur at a certain minimum price. The Company performed a Monte-Carlo simulation to calculate the fair value of such shares. The fair value of the Forfeiture Shares was computed using the following key assumptions: June 30, December 31, Stock price 2.53 5.37 Expected term (years) 1.25-2.25 1.75-2.75 Expected volatility 65.32%-68.22 % 51.37%-53.53 % Risk-free interest rate 4.78%-5.27 % 4.27%-4.49 % 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 Year U.S. dollars in thousands Balance at beginning of period 1,751 4,658 Changes in fair value (1,529 ) (2,907 ) Balance at end of the period 222 1,751

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 7 - STOCK-BASED COMPENSATION: Stock Options As of June 30, 2023, and December 31, 2022, the number of ordinary shares included in the Company’s option plans totaled to 30,666,212 and 28,383,788, respectively. 1,086,311 out of the outstanding options that have not yet vested as of June 30, 2023, 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 of June 30, 2023, the unrecognized compensation costs related to those unvested stock options are $3,048 thousand, which are expected to be recognized over a weighted-average period of 1.4 years. The following is a summary of the status of the Company’s share option plan as of June 30, 2023: Six months ended June 30, 2023 Number of Options Weighted-Average Exercise price Options outstanding as of December 31, 2022 13,948,149 $ 0.85 Granted during the period 212,329 $ 4.97 Exercised during the period (1,865,217 ) $ 0.53 Expired during the period (19,876 ) $ 0.75 Forfeited during the period (28,837 ) $ 2.85 Options outstanding as of June 30, 2023 12,246,548 $ 0.96 Options exercisable as of June 30, 2023 10,492,188 $ 0.86 The following table summarizes information about stock options outstanding as of June 30, 2023: Outstanding as of June 30, 2023 Exercisable as of June 30, 2023 Range of exercise prices Number outstanding Weighted average remaining contractual term Weighted average exercise price Aggregate intrinsic value Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value $ 0.15-$0.86 11,761,752 5.25 $ 0.67 20,598 10,292,067 4.97 $ 0.77 18,144 $ 1.87 4,803 7.53 $ 1.87 3 3,353 7.53 $ 1.87 2 $ 2.10 33,126 1.20 $ 2.10 14 33,126 1.20 $ 2.10 14 $ 2.40 1,474 7.00 $ 2.40 - - - - - $ 4.99 200,183 6.55 $ 4.99 - 24,906 6.55 $ 4.99 - $ 5.36 140,000 6.00 $ 5.36 - 35,000 6.00 $ 5.36 - $ 7.58 99,610 5.55 $ 7.58 - 99,610 5.55 $ 7.58 - $ 9.07 5,600 5.46 $ 9.07 - 4,126 5.46 $ 9.07 - The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions: For the For the Expected term 3-5 4-6 Expected volatility 48.35%-63.84 % 46.73%-47.71 % Expected dividend rate 0 % 0 % Risk-free rate 3.62%-4.21 % 1.37%-3.00 % During the six months period ended on June 30, 2023, 212,329 options were granted to related parties (please refer to Note 11 for further information). As of June 30, 2023, the unrecognized compensation costs related to unvested stock options was $5,985 thousand, which are expected to be recognized over a weighted-average period of 1.55 years. The weighted-average fair value of the options that were granted during the period ended June 30, 2023 was $2.25 at the grant date. The total intrinsic value of options exercised during the period of six months ended June 30, 2023 was $7,965 thousand. The following table presents the classification of the stock options expenses for the periods indicated: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Cost of revenue 96 114 46 60 Research and development 631 907 309 456 Sales and marketing 570 655 278 329 General and administrative 1,350 1,404 671 715 Total stock-based compensation 2,647 3,080 1,304 1,560 Restricted Stock Units The following is a summary of the status of the Company’s RSU’s as of June 30, 2023, as well as changes during the period of six months ended June 30, 2023: Number of Weighted-Average RSUs outstanding at the beginning of the year 3,779,716 $ 6.08 Granted during the period 3,772,631 $ 5.17 Vested during the period (1,101,583 ) $ 6.26 Forfeited during the period (130,311 ) $ 5.56 Outstanding at the end of the period 6,320,453 $ 5.52 RSUs exercisable as of June 30, 2023 5,947,712 $ 5.52 As of June 30, 2023, the unrecognized compensation cost related to unvested RSUs totaled to approximately $29,410 thousand and is expected to be expensed over a weighted-average recognition period of approximately 3.1 years. During the six months ended on June 30, 2023, 490,529 RSU’s were granted to several related parties (please refer to Note 11 regarding Related Parties). The following table presents the classification of RSU’s expenses for the periods indicated: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Cost of revenue 288 155 151 84 Research and development 2,779 1,467 1,462 809 Sales and marketing 1,197 614 613 344 General and administrative 898 592 457 320 Total stock-based compensation-RSUs 5,162 2,828 2,683 1,557

Net Income (Loss) Per Ordinary

Net Income (Loss) Per Ordinary Share	6 Months Ended
	Jun. 30, 2023
Net Income (Loss) Per Ordinary Share [Abstract]
NET INCOME (LOSS) PER ORDINARY SHARE	NOTE 8 - 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, June 30, June 30, June 30, Basic net loss per ordinary share Numerator: Net loss (9,959 ) (15,045 ) (4,582 ) (9,995 ) Denominator: Weighted average common shares – basic and diluted 101,381,153 97, 296,206 101,685,915 97,442,359 Basic and dilutive net loss per common share (0.10 ) (0.15 ) (0.05 ) (0.10 ) 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 anti-dilutive: Six months ended Three months ended June 30, June 30, June 30, June 30, Options 13,097,348 15,378,561 12,315,780 15,300,870 Restricted Stock Units 5,050,085 2,748,135 6,486,973 3,649,756 Private Warrants 3,330,000 3,330,000 3,330,000 3,330,000 Public Warrants 5,750,000 5,750,000 5,750,000 5,750,000 Forfeiture Shares 1,006,250 1,006,250 1,006,250 1,006,250

Financial Income (Expenses), Ne

Financial Income (Expenses), Net	6 Months Ended
	Jun. 30, 2023
Finance Income Net [Abstract]
FINANCIAL INCOME (EXPENSES), NET	NOTE 9 - FINANCIAL INCOME (EXPENSES), NET: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Foreign currency exchange differences (2,273 ) (3,865 ) (1,021 ) (3,554 ) Interest income on short-term deposits 3,090 404 1,630 199 Other (25 ) (214 ) (8 ) (205 ) Total financial income (expenses), net 792 (3,675 ) 601 (3,560 )

Segment and Revenue by Geograph

Segment and Revenue by Geography and By Major Customer	6 Months Ended
	Jun. 30, 2023
Segment and Revenue by Geography and By Major Customer [Abstract]
SEGMENT AND REVENUE BY GEOGRAPHY AND BY MAJOR CUSTOMER	NOTE 10 - 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, 2023 Audio-Video Automotive Consolidated U.S. dollars in thousands Revenues 31,828 16,227 48,055 Gross profit 24,734 5,993 30,727 Research and development expenses 11,094 15,027 26,121 Sales and marketing expenses 4,009 5,306 9,315 General and administrative expenses 3,756 3,777 7,533 Segment operating profit (loss) 5,875 (18,117 ) (12,242 ) Change in fair value of Forfeiture Shares 1,529 Financial expenses, net 792 Loss before taxes on income (9,921 ) Depreciation expenses 352 441 793 Stock-based compensation 3,287 4,522 7,809 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 Stock-based compensation 2,517 3,391 5,908 Three months ended on June 30, 2023 Audio-Video Automotive Consolidated U.S. dollars in thousands Revenues 15,469 8,706 24,175 Gross profit 11,644 3,290 14,934 Research and development expenses 4822 7,339 12,161 Sales and marketing expenses 1,892 2,363 4,255 General and administrative expenses 1,857 1,844 3,701 Segment operating profit (loss) 3,072 (8,255 ) (5,183 ) Change in fair value of Forfeiture Shares 22 Financial expenses, net 601 Loss before taxes on income (4,560 ) Depreciation expenses 173 241 414 Stock-based compensation 1,678 2,309 3,987 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 Stock-based compensation 1,326 1,791 3,117 b. Geographic Revenues The following table shows revenue by geography, based on the customers’ “bill to” location: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Israel 1,266 1,279 543 749 China 4,755 5,339 2,332 2,533 United States 3,441 7,238 1,981 3,681 Hong Kong 4,134 7,286 2,383 3,965 Hungary 13,013 6,399 6,955 2,486 Japan 4,605 5,274 2,248 3,239 Germany 5,637 2,807 2,989 965 Taiwan 4,992 4,030 1,748 2,679 Other 6,212 4,449 2,996 2,184 48,055 44,101 24,175 22,481 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, December 31, Accounts Receivable % of accounts receivable Customer A 30 % 10 % Customer B 13 % 26 % Customer C 0 % 16 % Six months ended Three months ended 2023 2022 2023 2022 Revenues % of revenues % of revenues Customer A 19 % 10 % 21 % 10 % Customer B 11 % 12 % 11 % 15 % Customer D 9 % 11 % 9 % 14 % Customer E 8 % 6 % 6 % 7 % d. Long-lived assets by Geography: June 30, December 31, U.S. dollars in thousands Domestic (Israel) 5,459 5,827 Taiwan 417 184 China 206 225 USA 154 217 Singapore 98 124 Other 16 37 6,350 6,614

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 11 - RELATED PARTY TRANSACTIONS During the six months ended June 30, 2023, the Company granted 212,329 stock options, at a weighted average exercise price of $4.97 to several executive officers, and Board of Directors (“Board”) members of the Company. In addition, during the six months ended June 30, 2023 the Company granted 490,529 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, 2023 is $438 thousand, which is expected to be recognized over a 1-4 years vesting period, and the fair value of the granted RSUs is $2,354 thousand, which is expected to be recognized over a 1-4-years vesting period.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	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, 2023, shown in these financial statements are not necessarily indicative of the results to be expected for the full year ending December 31, 2023. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022. The carrying value of cash and cash equivalents, accounts receivables, deposits and accounts payable (included in the condensed consolidated balance sheets) approximates their fair value because of their generally short maturities. There have been no material changes in our significant accounting policies as described in our consolidated financial statements for the year ended December 31, 2022, other than as stated below.
Accounts receivable, net	Accounts receivable, net Trade accounts receivable are recorded at the invoiced amount and do not include finance charges. The Company performs ongoing credit evaluation of its customers and generally requires no collateral. The Company’s accounts receivables accounting policy from January 1, 2023, following the adoption of the new CECL standard: The Company estimates CECL on trade receivables at inception for estimated losses resulting from the inability of the Company’s customers to make required payments, based on estimated current expected credit losses. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering historical information, current market conditions and reasonable and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. There were no write-offs of accounts receivable for the six and three months ended June 30, 2023, and 2022, respectively. There are no expected credit losses recorded as of June 30, 2023, and December 31, 2022. The Company’s accounts receivables accounting policy until December 31, 2022, prior to the adoption of the new CECL standard: The Company assesses the need for allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments by considering factors such as historical collection experience, credit quality, aging of the accounts receivable balances and current economic conditions that may affect a customer’s ability to pay.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted accounting Standards: 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. The guidance is effective for the Company for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Early application is permitted. The Company adopted ASC 326 on January 1, 2023, and there was no material impact on the Company’s consolidated balance sheet and the consolidated statements of operations upon adoption.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	June 30, December 31, U.S. dollars in thousands Work in process 8,434 9,870 Finished goods 10,583 13,946 19,017 23,816

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Other Current Liabilities [Abstract]
Schedule of Other Current Liabilities	June 30, December 31, U.S. dollars in thousands Accrued vacation 3,387 3,203 Taxes payable 37 514 Contract liabilities 32 175 Accrued expenses- related party 142 142 Other Accrued expenses 2,177 2,087 5,775 6,121

Forfeiture Shares (Tables)

Forfeiture Shares (Tables)	6 Months Ended
	Jun. 30, 2023
Forfeiture Shares [Abstract]
Schedule of Fair Value of Forfeited Shares	The fair value of the Forfeiture Shares was computed using the following key assumptions: June 30, December 31, Stock price 2.53 5.37 Expected term (years) 1.25-2.25 1.75-2.75 Expected volatility 65.32%-68.22 % 51.37%-53.53 % Risk-free interest rate 4.78%-5.27 % 4.27%-4.49 %
Schedule of Changes in Fair Value of Forfeited Shares	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 Year U.S. dollars in thousands Balance at beginning of period 1,751 4,658 Changes in fair value (1,529 ) (2,907 ) Balance at end of the period 222 1,751

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share Option Plan	The following is a summary of the status of the Company’s share option plan as of June 30, 2023: Six months ended June 30, 2023 Number of Options Weighted-Average Exercise price Options outstanding as of December 31, 2022 13,948,149 $ 0.85 Granted during the period 212,329 $ 4.97 Exercised during the period (1,865,217 ) $ 0.53 Expired during the period (19,876 ) $ 0.75 Forfeited during the period (28,837 ) $ 2.85 Options outstanding as of June 30, 2023 12,246,548 $ 0.96 Options exercisable as of June 30, 2023 10,492,188 $ 0.86
Schedule of Summarizes Information about Stock Options Outstanding	The following table summarizes information about stock options outstanding as of June 30, 2023: Outstanding as of June 30, 2023 Exercisable as of June 30, 2023 Range of exercise prices Number outstanding Weighted average remaining contractual term Weighted average exercise price Aggregate intrinsic value Number Exercisable Weighted average remaining contractual term Weighted Average exercise price Aggregate intrinsic value $ 0.15-$0.86 11,761,752 5.25 $ 0.67 20,598 10,292,067 4.97 $ 0.77 18,144 $ 1.87 4,803 7.53 $ 1.87 3 3,353 7.53 $ 1.87 2 $ 2.10 33,126 1.20 $ 2.10 14 33,126 1.20 $ 2.10 14 $ 2.40 1,474 7.00 $ 2.40 - - - - - $ 4.99 200,183 6.55 $ 4.99 - 24,906 6.55 $ 4.99 - $ 5.36 140,000 6.00 $ 5.36 - 35,000 6.00 $ 5.36 - $ 7.58 99,610 5.55 $ 7.58 - 99,610 5.55 $ 7.58 - $ 9.07 5,600 5.46 $ 9.07 - 4,126 5.46 $ 9.07 -
Schedule of Option-Pricing Model	The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions: For the For the Expected term 3-5 4-6 Expected volatility 48.35%-63.84 % 46.73%-47.71 % Expected dividend rate 0 % 0 % Risk-free rate 3.62%-4.21 % 1.37%-3.00 %
Schedule of Stock Options Expenses	The following table presents the classification of the stock options expenses for the periods indicated: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Cost of revenue 96 114 46 60 Research and development 631 907 309 456 Sales and marketing 570 655 278 329 General and administrative 1,350 1,404 671 715 Total stock-based compensation 2,647 3,080 1,304 1,560
Schedule of Company’s RSU’s	The following is a summary of the status of the Company’s RSU’s as of June 30, 2023, as well as changes during the period of six months ended June 30, 2023: Number of Weighted-Average RSUs outstanding at the beginning of the year 3,779,716 $ 6.08 Granted during the period 3,772,631 $ 5.17 Vested during the period (1,101,583 ) $ 6.26 Forfeited during the period (130,311 ) $ 5.56 Outstanding at the end of the period 6,320,453 $ 5.52 RSUs exercisable as of June 30, 2023 5,947,712 $ 5.52
Schedule of Classification of RSU's Expenses	The following table presents the classification of RSU’s expenses for the periods indicated: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Cost of revenue 288 155 151 84 Research and development 2,779 1,467 1,462 809 Sales and marketing 1,197 614 613 344 General and administrative 898 592 457 320 Total stock-based compensation-RSUs 5,162 2,828 2,683 1,557

Net Income (Loss) Per Ordinar_2

Net Income (Loss) Per Ordinary Share (Tables)	6 Months Ended
	Jun. 30, 2023
Net Income (Loss) Per Ordinary 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, June 30, June 30, June 30, Basic net loss per ordinary share Numerator: Net loss (9,959 ) (15,045 ) (4,582 ) (9,995 ) Denominator: Weighted average common shares – basic and diluted 101,381,153 97, 296,206 101,685,915 97,442,359 Basic and dilutive net loss per common share (0.10 ) (0.15 ) (0.05 ) (0.10 )
Schedule of Weighted-Average 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 anti-dilutive: Six months ended Three months ended June 30, June 30, June 30, June 30, Options 13,097,348 15,378,561 12,315,780 15,300,870 Restricted Stock Units 5,050,085 2,748,135 6,486,973 3,649,756 Private Warrants 3,330,000 3,330,000 3,330,000 3,330,000 Public Warrants 5,750,000 5,750,000 5,750,000 5,750,000 Forfeiture Shares 1,006,250 1,006,250 1,006,250 1,006,250

Financial Income (Expenses), _2

Financial Income (Expenses), Net (Tables)	6 Months Ended
	Jun. 30, 2023
Finance Income Net [Abstract]
Schedule of Finance Income Net	Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Foreign currency exchange differences (2,273 ) (3,865 ) (1,021 ) (3,554 ) Interest income on short-term deposits 3,090 404 1,630 199 Other (25 ) (214 ) (8 ) (205 ) Total financial income (expenses), net 792 (3,675 ) 601 (3,560 )

Segment and Revenue by Geogra_2

Segment and Revenue by Geography and By Major Customer (Tables)	6 Months Ended
	Jun. 30, 2023
Segment and Revenue by Geography and By Major Customer [Abstract]
Schedule of Evaluating Financial Performance and Allocating Resources	Six months ended on June 30, 2023 Audio-Video Automotive Consolidated U.S. dollars in thousands Revenues 31,828 16,227 48,055 Gross profit 24,734 5,993 30,727 Research and development expenses 11,094 15,027 26,121 Sales and marketing expenses 4,009 5,306 9,315 General and administrative expenses 3,756 3,777 7,533 Segment operating profit (loss) 5,875 (18,117 ) (12,242 ) Change in fair value of Forfeiture Shares 1,529 Financial expenses, net 792 Loss before taxes on income (9,921 ) Depreciation expenses 352 441 793 Stock-based compensation 3,287 4,522 7,809 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 Stock-based compensation 2,517 3,391 5,908 Three months ended on June 30, 2023 Audio-Video Automotive Consolidated U.S. dollars in thousands Revenues 15,469 8,706 24,175 Gross profit 11,644 3,290 14,934 Research and development expenses 4822 7,339 12,161 Sales and marketing expenses 1,892 2,363 4,255 General and administrative expenses 1,857 1,844 3,701 Segment operating profit (loss) 3,072 (8,255 ) (5,183 ) Change in fair value of Forfeiture Shares 22 Financial expenses, net 601 Loss before taxes on income (4,560 ) Depreciation expenses 173 241 414 Stock-based compensation 1,678 2,309 3,987 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 Stock-based compensation 1,326 1,791 3,117
Schedule of Table Shows Revenue by Geography	The following table shows revenue by geography, based on the customers’ “bill to” location: Six months ended Three months ended 2023 2022 2023 2022 U.S. dollars in thousands Israel 1,266 1,279 543 749 China 4,755 5,339 2,332 2,533 United States 3,441 7,238 1,981 3,681 Hong Kong 4,134 7,286 2,383 3,965 Hungary 13,013 6,399 6,955 2,486 Japan 4,605 5,274 2,248 3,239 Germany 5,637 2,807 2,989 965 Taiwan 4,992 4,030 1,748 2,679 Other 6,212 4,449 2,996 2,184 48,055 44,101 24,175 22,481
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, December 31, Accounts Receivable % of accounts receivable Customer A 30 % 10 % Customer B 13 % 26 % Customer C 0 % 16 % Six months ended Three months ended 2023 2022 2023 2022 Revenues % of revenues % of revenues Customer A 19 % 10 % 21 % 10 % Customer B 11 % 12 % 11 % 15 % Customer D 9 % 11 % 9 % 14 % Customer E 8 % 6 % 6 % 7 %
Schedule of Long Lived Assets by Geography	June 30, December 31, U.S. dollars in thousands Domestic (Israel) 5,459 5,827 Taiwan 417 184 China 206 225 USA 154 217 Singapore 98 124 Other 16 37 6,350 6,614

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventory write downs	$ 273	$ 0	$ 397	$ 0

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Inventories [Abstract]
Work in process	$ 8,434	$ 9,870
Finished goods	10,583	13,946
Total	$ 19,017	$ 23,816

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingent Liabilities (Details) [Line Items]
Agreements	$ 1,502	$ 2,783
Cost of Sales [Member]
Commitments and Contingent Liabilities (Details) [Line Items]
Total value of open purchase orders	$ 10,038	$ 19,418

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Other Current Liabilities [Abstract]
Contract liabilities	$ 175	$ 0

Other Current Liabilities (De_2

Other Current Liabilities (Details) - Schedule of Other Current Liabilities - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Other Current Liabilities [Abstract]
Accrued vacation	$ 3,387	$ 3,203
Taxes payable	37	514
Contract liabilities	32	175
Accrued expenses- related party	142	142
Other Accrued expenses	2,177	2,087
Total other current liabilities	$ 5,775	$ 6,121

Forfeiture Shares (Details)

Forfeiture Shares (Details)	6 Months Ended
	Jun. 30, 2023 shares
Forfeiture Shares (Details) [Line Items]
Method Used For Calculating Fair Value , Monte-Carlo Simulation	Monte-Carlo simulation
PTK Sponsor [Member]
Forfeiture Shares (Details) [Line Items]
Shares issued with respect forfeiture	1,006,250

Forfeiture Shares (Details) - S

Forfeiture Shares (Details) - Schedule of Fair Value of Forfeited Shares - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Forfeiture Shares (Details) - Schedule of Fair Value of Forfeited Shares [Line Items]
Stock price (in Dollars per share)	$ 2.53	$ 5.37
Minimum [Member]
Forfeiture Shares (Details) - Schedule of Fair Value of Forfeited Shares [Line Items]
Expected term (years)	1 year 3 months	1 year 9 months
Expected volatility	65.32%	51.37%
Risk-free interest rate	4.78%	4.27%
Maximum [Member]
Forfeiture Shares (Details) - Schedule of Fair Value of Forfeited Shares [Line Items]
Expected term (years)	2 years 3 months	2 years 9 months
Expected volatility	68.22%	53.53%
Risk-free interest rate	5.27%	4.49%

Forfeiture Shares (Details) -_2

Forfeiture Shares (Details) - Schedule of Changes in Fair Value of Forfeited Shares - Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 1,751	$ 4,658
Changes in fair value	(1,529)	(2,907)
Balance at end of the period	$ 222	$ 1,751

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Stock-Based Compensation (Details) [Line Items]
Share-based compensation arrangement		212,329
Unvested stock options		5,985,000
Weighted-average period		1 year 6 months 18 days
Fair value (in Dollars per share)		$ 2.25
Options exercised (in Dollars)		$ 7,965
Valens Semiconductor Ltd. 2021 Share Incentive Plan [Member]
Stock-Based Compensation (Details) [Line Items]
Ordinary shares, reserved for issuance		30,666,212	28,383,788
Share-Based Payment Arrangement, Option [Member] | Merger And Acquisition Transaction [Member]
Stock-Based Compensation (Details) [Line Items]
Number of outstanding options unvested		1,086,311
Unrecognized compensation costs (in Dollars)		$ 3,048
Cost expected to be expensed, weighted average period		1 year 4 months 24 days
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Details) [Line Items]
Cost expected to be expensed, weighted average period		3 years 1 month 6 days
Share-based compensation arrangement	3,772,631
Nonvested award, excluding option, cost not yet recognized, amount (in Dollars)		$ 29,410
Restricted Stock Units (RSUs) [Member] | Related Parties [Member]
Stock-Based Compensation (Details) [Line Items]
Share-based compensation arrangement		490,529

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - Schedule of Share Option Plan	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Schedule of share option plan [Abstract]
Number of Options outstanding, Beginning balance | shares	13,948,149
Weighted- Average Exercise price, Beginning balance | $ / shares	$ 0.85
Number of Options, Granted | shares	212,329
Weighted- Average Exercise price, Granted | $ / shares	$ 4.97
Number of Options, Exercised | shares	(1,865,217)
Weighted- Average Exercise price, Exercised | $ / shares	$ 0.53
Number of Options, Expired during the period | shares	(19,876)
Weighted- Average Exercise price, Expired during the period | $ / shares	$ 0.75
Number of Options, Forfeited | shares	(28,837)
Weighted- Average Exercise price, Forfeited | $ / shares	$ 2.85
Number of Options, exercisable | shares	12,246,548
Weighted- Average Exercise price, exercisable | $ / shares	$ 0.96
Number of Options, exercisable | shares	10,492,188
Weighted- Average Exercise price, exercisable | $ / shares	$ 0.86

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details) - Schedule of Summarizes Information about Stock Options Outstanding $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Range of Exercise Prices One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding (in Shares) | shares	11,761,752
Weighted average remaining contractual term	5 years 3 months
Weighted average exercise price	$ 0.67
Aggregate intrinsic value (in Dollars) | $	$ 20,598
Number of exercisable (in Shares) | shares	10,292,067
Weighted average remaining contractual term	4 years 11 months 19 days
Weighted- average exercise price	$ 0.77
Aggregate intrinsic value (in Dollars) | $	$ 18,144
Range of Exercise Prices Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 1.87
Number outstanding (in Shares) | shares	4,803
Weighted average remaining contractual term	7 years 6 months 10 days
Weighted average exercise price	$ 1.87
Aggregate intrinsic value (in Dollars) | $	$ 3
Number of exercisable (in Shares) | shares	3,353
Weighted average remaining contractual term	7 years 6 months 10 days
Weighted- average exercise price	$ 1.87
Aggregate intrinsic value (in Dollars) | $	$ 2
Range of Exercise Prices Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 2.1
Number outstanding (in Shares) | shares	33,126
Weighted average remaining contractual term	1 year 2 months 12 days
Weighted average exercise price	$ 2.1
Aggregate intrinsic value (in Dollars) | $	$ 14
Number of exercisable (in Shares) | shares	33,126
Weighted average remaining contractual term	1 year 2 months 12 days
Weighted- average exercise price	$ 2.1
Aggregate intrinsic value (in Dollars) | $	$ 14
Range of Exercise Prices Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 2.4
Number outstanding (in Shares) | shares	1,474
Weighted average remaining contractual term	7 years
Weighted average exercise price	$ 2.4
Range of Exercise Prices Five [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 4.99
Number outstanding (in Shares) | shares	200,183
Weighted average remaining contractual term	6 years 6 months 18 days
Weighted average exercise price	$ 4.99
Number of exercisable (in Shares) | shares	24,906
Weighted average remaining contractual term	6 years 6 months 18 days
Weighted- average exercise price	$ 4.99
Range of Exercise Prices Six [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 5.36
Number outstanding (in Shares) | shares	140,000
Weighted average remaining contractual term	6 years
Weighted average exercise price	$ 5.36
Number of exercisable (in Shares) | shares	35,000
Weighted average remaining contractual term	6 years
Weighted- average exercise price	$ 5.36
Aggregate intrinsic value (in Dollars) | $
Range of Exercise Prices Seven [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 7.58
Number outstanding (in Shares) | shares	99,610
Weighted average remaining contractual term	5 years 6 months 18 days
Weighted average exercise price	$ 7.58
Aggregate intrinsic value (in Dollars) | $
Number of exercisable (in Shares) | shares	99,610
Weighted average remaining contractual term	5 years 6 months 18 days
Weighted- average exercise price	$ 7.58
Aggregate intrinsic value (in Dollars) | $
Range of Exercise Prices Eight [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 9.07
Number outstanding (in Shares) | shares	5,600
Weighted average remaining contractual term	5 years 5 months 15 days
Weighted average exercise price	$ 9.07
Aggregate intrinsic value (in Dollars) | $
Number of exercisable (in Shares) | shares	4,126
Weighted average remaining contractual term	5 years 5 months 15 days
Weighted- average exercise price	$ 9.07
Aggregate intrinsic value (in Dollars) | $
Minimum [Member] | Range of Exercise Prices One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Lower Range Limit	$ 0.15
Maximum [Member] | Range of Exercise Prices One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Upper Range Limit	$ 0.86

Stock-Based Compensation (Det_4

Stock-Based Compensation (Details) - Schedule of Option-Pricing Model	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stock-Based Compensation (Details) - Schedule of Option-Pricing Model [Line Items]
Expected dividend rate	0%	0%
Minimum [Member]
Stock-Based Compensation (Details) - Schedule of Option-Pricing Model [Line Items]
Expected term	3 years	4 years
Expected volatility	48.35%	46.73%
Risk-free rate	3.62%	1.37%
Maximum [Member]
Stock-Based Compensation (Details) - Schedule of Option-Pricing Model [Line Items]
Expected term	5 years	6 years
Expected volatility	63.84%	47.71%
Risk-free rate	4.21%	3%

Stock-Based Compensation (Det_5

Stock-Based Compensation (Details) - Schedule of Stock Options Expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation -Stock Options	$ 1,304	$ 1,560	$ 2,647	$ 3,080
Cost of revenue [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation -Stock Options	46	60	96	114
Research and development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation -Stock Options	309	456	631	907
Sales and marketing [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation -Stock Options	278	329	570	655
Selling, general and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation -Stock Options	$ 671	$ 715	$ 1,350	$ 1,404

Stock-Based Compensation (Det_6

Stock-Based Compensation (Details) - Schedule of Company’s RSU’s - Restricted Stock Units [Member]	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Stock-Based Compensation (Details) - Schedule of Company’s RSU’s [Line Items]
Number of RSUs, Beginning Balance | shares	3,779,716
Weighted-Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 6.08
Number of RSUs, Granted | shares	3,772,631
Weighted-Average Grant Date Fair Value, Granted | $ / shares	$ 5.17
Number of RSUs, Vested | shares	(1,101,583)
Weighted-Average Grant Date Fair Value, Vested | $ / shares	$ 6.26
Number of RSUs, Forfeited | shares	(130,311)
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	$ 5.56
Number of RSUs, Ending Balance | shares	6,320,453
Weighted-Average Grant Date Fair Value, Ending Balance | $ / shares	$ 5.52
Number of RSUs, RSU exercisable | shares	5,947,712
Weighted-Average Grant Date Fair Value, RSU exercisable | $ / shares	$ 5.52

Stock-Based Compensation (Det_7

Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cost of revenue [Member]
Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses [Line Items]
Total stock-based compensation-RSUs	$ 151	$ 84	$ 288	$ 155
Research and development [Member]
Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses [Line Items]
Total stock-based compensation-RSUs	1,462	809	2,779	1,467
Sales and marketing [Member]
Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses [Line Items]
Total stock-based compensation-RSUs	613	344	1,197	614
Selling, general and administrative [Member]
Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses [Line Items]
Total stock-based compensation-RSUs	457	320	898	592
Total stock-based compensation-RSUs [Member]
Stock-Based Compensation (Details) - Schedule of Classification of RSU's Expenses [Line Items]
Total stock-based compensation-RSUs	$ 2,683	$ 1,557	$ 5,162	$ 2,828

Net Income (Loss) Per Ordinar_3

Net Income (Loss) Per Ordinary Share (Details) - Schedule of Basic and Diluted Net Income (Loss) Per Ordinary Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (4,582)	$ (9,995)	$ (9,959)	$ (15,045)
Denominator:
Weighted average common shares – basic and diluted	101,685,915	97,442,359	101,381,153	97,296,206
Basic and dilutive net loss per common share	$ (0.05)	$ (0.1)	$ (0.1)	$ (0.15)

Net Income (Loss) Per Ordinar_4

Net Income (Loss) Per Ordinary Share (Details) - Schedule of Basic and Diluted Net Income (Loss) Per Ordinary Share (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Basic And Diluted Net Income Loss Per Ordinary Share [Abstract]
Dilutive Weighted average common shares	101,685,915	97,442,359	101,381,153	97,296,206
Dilutive net loss per common share	$ (0.05)	$ (0.10)	$ (0.10)	$ (0.15)

Net Income (Loss) Per Ordinar_5

Net Income (Loss) Per Ordinary Share (Details) - Schedule of Weighted-Average Shares of Securities - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	12,315,780	15,300,870	13,097,348	15,378,561
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	6,486,973	3,649,756	5,050,085	2,748,135
Private Warrants [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	3,330,000	3,330,000
Public Warrants [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	5,750,000	5,750,000
Forfeiture 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	1,006,250	1,006,250

Financial Income (Expenses), _3

Financial Income (Expenses), Net (Details) - Schedule of Finance Income Net - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Finance Income Net [Abstract]
Foreign currency exchange differences	$ (1,021)	$ (3,554)	$ (2,273)	$ (3,865)
Interest income on short-term deposits	1,630	199	3,090	404
Other	(8)	(205)	(25)	(214)
Total financial income (expenses), net	$ 601	$ (3,560)	$ 792	$ (3,675)

Segment and Revenue by Geogra_3

Segment and Revenue by Geography and By Major Customer (Details) - Schedule of Evaluating Financial Performance and Allocating Resources - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 24,175	$ 22,481	$ 48,055	$ 44,101
Gross profit	14,934	15,784	30,727	31,224
Research and development expenses	12,161	14,904	26,121	29,031
Sales and marketing expenses	4,255	4,473	9,315	8,682
General and administrative expenses	3,701	4,340	7,533	8,641
Change in fair value of Forfeiture Shares	22	1,538	1,529	4,142
Financial expenses, net	601	(3,560)	792	(3,675)
Loss before taxes on income	4,586	9,998	9,966	15,052
Depreciation expenses	414	347	793	667
Stock-based compensation	3,987	3,117	7,809	5,908
Consolidated [Member]
Segment Reporting Information [Line Items]
Revenues	24,175	22,481	48,055	44,101
Gross profit	14,934	15,784	30,727	31,224
Research and development expenses	12,161	14,904	26,121	29,031
Sales and marketing expenses	4,255	4,473	9,315	8,682
General and administrative expenses	3,701	4,340	7,533	8,641
Segment operating profit (loss)	(5,183)	(7,933)	(12,242)	(15,130)
Change in fair value of Forfeiture Shares	22	1,538	1,529	4,142
Financial expenses, net	601	(3,560)	792	(3,675)
Loss before taxes on income	(4,560)	(9,955)	(9,921)	(14,663)
Depreciation expenses	414	347	793	667
Stock-based compensation	3,987	3,117	7,809	5,908
Audio-Video [Member]
Segment Reporting Information [Line Items]
Revenues	15,469	18,335	31,828	35,067
Gross profit	11,644	14,414	24,734	27,881
Research and development expenses	4,822	5,122	11,094	11,392
Sales and marketing expenses	1,892	1,917	4,009	3,695
General and administrative expenses	1,857	2,081	3,756	4,244
Segment operating profit (loss)	3,072	5,294	5,875	8,550
Depreciation expenses	173	161	352	303
Stock-based compensation	1,678	1,326	3,287	2,517
Automotive [Member]
Segment Reporting Information [Line Items]
Revenues	8,706	4,146	16,227	9,034
Gross profit	3,290	1,370	5,993	3,343
Research and development expenses	7,339	9,782	15,027	17,639
Sales and marketing expenses	2,363	2,556	5,306	4,987
General and administrative expenses	1,844	2,259	3,777	4,397
Segment operating profit (loss)	(8,255)	(13,227)	(18,117)	(23,680)
Depreciation expenses	241	186	441	364
Stock-based compensation	$ 2,309	$ 1,791	$ 4,522	$ 3,391

Segment and Revenue by Geogra_4

Segment and Revenue by Geography and By Major Customer (Details) - Schedule of Table Shows Revenue by Geography - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	$ 24,175	$ 22,481	$ 48,055	$ 44,101
Israel [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	543	749	1,266	1,279
China [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	2,332	2,533	4,755	5,339
United States [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	1,981	3,681	3,441	7,238
Hong Kong [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	2,383	3,965	4,134	7,286
Hungary [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	6,955	2,486	13,013	6,399
Japan [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	2,248	3,239	4,605	5,274
Germany [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	2,989	965	5,637	2,807
Taiwan [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	1,748	2,679	4,992	4,030
Other [Member]
Schedule of Table Shows Revenue by Geography [Abstract]
Revenues	$ 2,996	$ 2,184	$ 6,212	$ 4,449

Segment and Revenue by Geogra_5

Segment and Revenue by Geography and By Major Customer (Details) - Schedule of Supplemental Data - Major Customers	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Customer A [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			30%		10%
Customer A [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	21%	10%	19%	10%
Customer B [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			13%		26%
Customer B [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	11%	15%	11%	12%
Customer C [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			0%		16%
Customer D [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	9%	14%	9%	11%
Customer E [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	6%	7%	8%	6%

Segment and Revenue by Geogra_6

Segment and Revenue by Geography and By Major Customer (Details) - Schedule of Long Lived Assets by Geography - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	$ 6,350	$ 6,614
Domestic (Israel) [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	5,459	5,827
Taiwan [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	417	184
China [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	206	225
USA [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	154	217
Singapore [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	98	124
Other [Member]
Schedule of Long Lived Assets by Geography [Abstract]
Long lived assets	$ 16	$ 37

Related Party Transactions (Det

Related Party Transactions (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Related Party Transactions [Abstract]
Options granted	212,329
Weighted average exercise price (in Dollars per share) | $ / shares	$ 4.97
Granted shares RSU	490,529
Fair value, description	The fair value of the stock options that were granted during the six months ended June 30, 2023 is $438 thousand, which is expected to be recognized over a 1-4 years vesting period, and the fair value of the granted RSUs is $2,354 thousand, which is expected to be recognized over a 1-4-years vesting period.