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Side-by-side financial comparison of Sol-Gel Technologies Ltd. (SLGL) and Valens Semiconductor Ltd. (VLN). Click either name above to swap in a different company.

Valens Semiconductor Ltd. is the larger business by last-quarter revenue ($17.3M vs $17.3M, roughly 1.0× Sol-Gel Technologies Ltd.). Sol-Gel Technologies Ltd. runs the higher net margin — 67.3% vs -42.2%, a 109.5% gap on every dollar of revenue. On growth, Sol-Gel Technologies Ltd. posted the faster year-over-year revenue change (217.7% vs 8.1%).

Sol-Gel Technologies Ltd. is a specialty biopharmaceutical company focused on developing and commercializing innovative dermatology treatments. Leveraging its proprietary sol-gel delivery technology, it creates topical therapies for common skin conditions including acne, rosacea and atopic dermatitis, with primary markets across North America and Europe, partnering with established healthcare firms to expand product reach.

Valens Semiconductor (Valens) is an Israeli fabless manufacturing company providing semiconductors for the automotive and audio-video industries. Valens provides semiconductor products for the distribution of uncompressed ultra-high-definition (UHD) multimedia content and in-vehicle connectivity applications. The company is a member of the MIPI Alliance and developed the first-to-market chipset that is compliant with the MIPI A-PHY standard. Valens invented the technology behind the HDBaseT s...

SLGL vs VLN — Head-to-Head

Bigger by revenue
VLN
VLN
1.0× larger
VLN
$17.3M
$17.3M
SLGL
Growing faster (revenue YoY)
SLGL
SLGL
+209.6% gap
SLGL
217.7%
8.1%
VLN
Higher net margin
SLGL
SLGL
109.5% more per $
SLGL
67.3%
-42.2%
VLN

Income Statement — Q2 FY2025 vs Q3 FY2025

Metric
SLGL
SLGL
VLN
VLN
Revenue
$17.3M
$17.3M
Net Profit
$11.6M
$-7.3M
Gross Margin
63.0%
Operating Margin
65.1%
-46.4%
Net Margin
67.3%
-42.2%
Revenue YoY
217.7%
8.1%
Net Profit YoY
487.6%
29.3%
EPS (diluted)
$4.17
$-0.07

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
SLGL
SLGL
VLN
VLN
Q3 25
$17.3M
Q2 25
$17.3M
$17.1M
Q1 25
$16.8M
Q3 24
$16.0M
Q2 24
$5.4M
$13.6M
Q2 23
$594.0K
$24.2M
Q2 22
$3.5M
$22.5M
Net Profit
SLGL
SLGL
VLN
VLN
Q3 25
$-7.3M
Q2 25
$11.6M
$-7.2M
Q1 25
$-8.3M
Q3 24
$-10.4M
Q2 24
$2.0M
$-8.9M
Q2 23
$-6.0M
$-4.6M
Q2 22
$-134.0K
$-10.0M
Gross Margin
SLGL
SLGL
VLN
VLN
Q3 25
63.0%
Q2 25
63.5%
Q1 25
62.9%
Q3 24
56.4%
Q2 24
61.4%
Q2 23
61.8%
Q2 22
70.2%
Operating Margin
SLGL
SLGL
VLN
VLN
Q3 25
-46.4%
Q2 25
65.1%
-43.3%
Q1 25
-56.2%
Q3 24
-76.3%
Q2 24
29.9%
-69.2%
Q2 23
-1098.8%
-21.4%
Q2 22
-13.2%
-35.3%
Net Margin
SLGL
SLGL
VLN
VLN
Q3 25
-42.2%
Q2 25
67.3%
-42.1%
Q1 25
-49.4%
Q3 24
-64.6%
Q2 24
36.4%
-65.2%
Q2 23
-1005.1%
-19.0%
Q2 22
-3.8%
-44.5%
EPS (diluted)
SLGL
SLGL
VLN
VLN
Q3 25
$-0.07
Q2 25
$4.17
$-0.07
Q1 25
$-0.08
Q3 24
$-0.10
Q2 24
$0.71
$-0.08
Q2 23
$-0.22
$-0.05
Q2 22
$0.01
$-0.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
SLGL
SLGL
VLN
VLN
Cash + ST InvestmentsLiquidity on hand
$24.3M
$93.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$31.9M
$108.8M
Total Assets
$39.3M
$136.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SLGL
SLGL
VLN
VLN
Q3 25
$93.5M
Q2 25
$24.3M
$102.7M
Q1 25
$112.5M
Q3 24
$133.1M
Q2 24
$26.5M
$105.9M
Q2 23
$33.5M
$138.0M
Q2 22
$15.6M
$46.6M
Stockholders' Equity
SLGL
SLGL
VLN
VLN
Q3 25
$108.8M
Q2 25
$31.9M
$116.5M
Q1 25
$128.6M
Q3 24
$147.0M
Q2 24
$34.9M
$153.5M
Q2 23
$48.3M
$166.3M
Q2 22
$50.4M
$173.2M
Total Assets
SLGL
SLGL
VLN
VLN
Q3 25
$136.7M
Q2 25
$39.3M
$144.8M
Q1 25
$154.6M
Q3 24
$171.9M
Q2 24
$42.0M
$175.8M
Q2 23
$55.1M
$184.3M
Q2 22
$55.0M
$196.2M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
SLGL
SLGL
VLN
VLN
Operating Cash FlowLast quarter
$-4.7M
Free Cash FlowOCF − Capex
$-4.9M
FCF MarginFCF / Revenue
-28.5%
Capex IntensityCapex / Revenue
1.6%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-11.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SLGL
SLGL
VLN
VLN
Q3 25
$-4.7M
Q2 25
$-211.0K
Q1 25
$-7.6M
Q3 24
$3.0M
Q2 24
$-225.0K
Q2 23
$-8.3M
$358.0K
Q2 22
$-4.3M
Free Cash Flow
SLGL
SLGL
VLN
VLN
Q3 25
$-4.9M
Q2 25
$-330.0K
Q1 25
$-8.0M
Q3 24
$2.2M
Q2 24
$-460.0K
Q2 23
$-8.4M
$-419.0K
Q2 22
$-4.5M
FCF Margin
SLGL
SLGL
VLN
VLN
Q3 25
-28.5%
Q2 25
-1.9%
Q1 25
-47.3%
Q3 24
14.0%
Q2 24
-3.4%
Q2 23
-1419.0%
-1.7%
Q2 22
-20.0%
Capex Intensity
SLGL
SLGL
VLN
VLN
Q3 25
1.6%
Q2 25
0.7%
Q1 25
2.1%
Q3 24
4.5%
Q2 24
1.7%
Q2 23
15.8%
3.2%
Q2 22
1.1%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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