Group 1: Earnings Performance - Innoviz Technologies reported a quarterly loss of $0.09 per share, better than the Zacks Consensus Estimate of a loss of $0.11, and improved from a loss of $0.18 per share a year ago, representing an earnings surprise of 18.18% [1] - The company posted revenues of $6.03 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 4.79%, and down from $14.92 million in the same quarter last year [2] - Over the last four quarters, Innoviz has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Innoviz Technologies shares have declined approximately 51.6% since the beginning of the year, contrasting with the S&P 500's gain of 1.3% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at -$0.09 on revenues of $11.54 million, and -$0.29 on revenues of $86.89 million for the current fiscal year [7] - The Zacks Rank for Innoviz is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Group 3: Industry Context - The Automotive - Original Equipment industry, to which Innoviz belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Q4 2024 Earnings Presentation February 26, 2024 Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates, expected NRE payments, Innoviz's projected future operational and financial results, including revenue and NREs. These forward-looking statements generally a ...

Core Insights - Innoviz Technologies Ltd. reported strong performance in 2024, with significant developments that could enhance its financial and operational position for 2025 and beyond [2][5] - The company aims for revenues between $50 million and $60 million in 2025, alongside additional NRE bookings of $20 million to $50 million [5][13] Commercial and Strategic Updates - Innoviz entered into an approximately $80 million NRE payments plan with key customers, with over $40 million expected in 2025 [2][6] - The company announced operational optimizations projected to save $12 million annually, enhancing cash runway and accelerating profitability [2][6] - Innoviz completed a registered direct offering generating approximately $40 million, improving financial resilience and operational capacity [2][6] Financial Results - Revenues for 2024 were $24.3 million, up from $20.9 million in 2023, driven by NRE services and production units [7] - Operating expenses decreased by 17% to $100.8 million in 2024, compared to $121.0 million in 2023 [7] - The net loss for 2024 was $94.8 million, compared to a loss of $123.5 million in 2023, with a basic and diluted net loss per share of $0.57 [17][20] Liquidity and Financial Position - As of December 31, 2024, the company had approximately $68 million in liquidity, including cash and cash equivalents, short-term deposits, and marketable securities [8] - Total assets decreased to $132 million in 2024 from $219 million in 2023, with total shareholders' equity at $78.9 million [18][19] Future Outlook - Innoviz is well-positioned for multiple program SOPs in 2026 and volume production of LiDARs in 2027, with partnerships with Mobileye and NVIDIA enhancing growth opportunities [5][6] - The company continues to advance existing programs and explore new opportunities with notable OEMs across various regions [6]

Core Viewpoint - Innoviz Technologies Ltd. has announced a definitive securities purchase agreement to sell 28,776,978 units at a price of $1.39 per unit, aiming to raise approximately $40 million for general business purposes [1][2]. Group 1: Securities Offering Details - The offering consists of ordinary shares and warrants, with each unit comprising one ordinary share and 0.8 of a warrant to purchase one ordinary share [1]. - The warrants are immediately exercisable at $1.69 per share and will expire five years from issuance [1]. - The offering is expected to close on February 11, 2025, subject to customary closing conditions [1]. Group 2: Financial Proceeds and Use - Total gross proceeds from the offering are anticipated to be around $40 million, before placement agent fees and estimated offering expenses, assuming no warrants are exercised [2]. - Innoviz intends to utilize the proceeds for general business purposes [2]. Group 3: Company Background - Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to major automotive manufacturers [5]. - The company's LiDAR and perception software are designed to enhance safety and performance, surpassing human driving capabilities [5]. - Innoviz operates across the U.S., Europe, and Asia, and has been selected by premium car brands for consumer vehicles and various commercial applications [5].

Core Viewpoint - Innoviz Technologies Ltd. is set to release its earnings results for Q4 and the full year of 2024 on February 26, 2025, before market opening [1] Financial Results Announcement - The earnings results will be discussed in a conference call and webinar at 9:00 a.m. Eastern Time on the same day, followed by a Q&A session for investors [2] - A press release with operational and financial results will be issued prior to the call [2] Recent Corporate Developments - Innoviz has entered into a multi-year NRE payment plan worth approximately $80 million with key customers, expecting over $40 million in cash payments in 2025 [4] - The company’s LiDAR technology will be integrated into Mobileye's Mobileye Drive™ platform, which is adopted by major vehicle manufacturers globally [4] - Innoviz's perception software has been optimized for the NVIDIA DRIVE AGX Orin platform [4] - As of December 31, 2024, Innoviz reported a cash position of $68.0 million, defined as cash and cash equivalents, bank deposits, marketable securities, and short-term restricted cash [4][5] - The company plans to implement operational optimizations in the first half of 2025 to enhance profitability and free cash flow generation [4] Company Overview - Innoviz is a global leader in LiDAR technology, serving as a Tier-1 supplier to leading automotive manufacturers and aiming for a future with safe autonomous vehicles [6] - The company's LiDAR and perception software surpass human driving capabilities, meeting stringent automotive performance and safety standards [6]

Core Viewpoint - Innoviz Technologies Ltd. is optimizing its operations to extend cash runway and accelerate progress towards profitability and free cash flow generation [1][6] Group 1: Operational Changes - The company will reduce its headcount by approximately 9% to maximize efficiencies and de-emphasize mature development segments [1][3] - The realignment is expected to deliver cost savings of approximately $12 million in 2025, with cash savings beginning in Q1 2025 and run rate savings achieved by the end of Q2 2025 [3][6] Group 2: Market Position and Strategy - Innoviz has established itself as a market leader in the LiDAR industry, collaborating with major companies like Mobileye and Nvidia to meet OEM requirements [2] - The strategic actions are part of a thoughtful process to align development efforts with customer needs and streamline the cost structure [2][6] Group 3: Financial Outlook - The company anticipates minimal cash costs associated with the strategic actions, focusing on reducing planned cash outlays for 2025 [3][6] - Innoviz remains confident in achieving long-term goals and reaching profitability while delivering significant value in the future [2]

Core Insights - Innoviz's collaboration with NVIDIA marks a significant advancement in the development of high-performance, AI-enabled perception systems for autonomous driving and advanced driver-assistance systems (ADAS) [2][4] - The integration of Innoviz's perception software with the NVIDIA DRIVE Orin platform enhances real-time processing and object detection capabilities, contributing to improved safety and performance in autonomous vehicles [2][3] Company Overview - Innoviz is recognized as a global leader in LiDAR technology, serving as a Tier 1 supplier to major automotive manufacturers and focusing on the development of safe autonomous vehicles [5] - The company's LiDAR and perception software surpass human driving capabilities, aiming to minimize errors and meet stringent automotive safety standards [5] Technological Advancements - Innoviz's technology will be showcased at CES 2025, demonstrating the integration of its software and hardware with NVIDIA DRIVE OGX Orin, highlighting the potential for fully autonomous systems [4] - The partnership with NVIDIA allows Innoviz to provide a powerful combination of LiDAR sensors and perception software, facilitating the transition from L2+ ADAS to fully autonomous vehicles [3]

Core Insights - Innoviz is enhancing its position as a key partner for OEMs in the autonomous vehicle industry, with a focus on Non-recurring Engineering (NRE) payments to support operations and production timelines for customers in 2026 [1] - The company emphasizes its technological capabilities and the trust customers place in Innoviz to meet the demands of the next generation of autonomous vehicles [1] - The expected NRE payments, along with customer programs entering production, are set to strengthen Innoviz's financial foundation and deliver significant value in the coming years [1] Company Overview - Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to major automotive manufacturers and aiming for safe autonomous vehicles on the roads [7] - The company's LiDAR and perception software surpass human driving capabilities, reducing error possibilities and meeting stringent automotive performance and safety standards [7] - Innoviz operates across the U.S., Europe, and Asia, and has been selected by premium car brands for consumer vehicles and by commercial leaders for various applications [7] Financial Performance - Innoviz plans to provide its full year 2024 financial performance and 2025 financial guidance during its fourth quarter 2024 earnings call [6]

Group 1 - The investing group Out Fox The Street, led by Mark, focuses on identifying potential multibaggers while managing portfolio risk through diversification [1] - The group offers features such as model portfolios, stock picks with identifiable catalysts, daily updates, real-time alerts, and community chat access [1] - There is an indication of a potential long position in INVZ within the next 72 hours, suggesting a strategic investment opportunity [1] Group 2 - The article emphasizes the importance of positioning in undervalued stocks that are mispriced by the market as a strategy for the end of 2024 [3]

Financial Data and Key Metrics Changes - Revenues for the quarter were $4.5 million, above the midpoint of the company's guidance [4] Business Line Data and Key Metrics Changes - The company announced a new partnership with a leading Level 4 platform partner and entered two new OEM programs, with expected start of production in 2026 [4] Market Data and Key Metrics Changes - No specific market data or key metrics changes were provided in the available content Company Strategy and Development Direction and Industry Competition - The company is focusing on expanding its partnerships and entering new OEM programs, indicating a strategic direction towards growth in the autonomous vehicle sector [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance for the quarter and highlighted the importance of new partnerships and OEM programs for future growth [4] Other Important Information - The company provided a reminder that the discussion includes forward-looking statements subject to risks and uncertainties [2] Q&A Session Summary - No specific questions and answers from the Q&A session were provided in the available content