Core Insights - Innoviz Technologies Ltd. will release its earnings results for Q3 2025 on November 12, 2025, before market opens [1] - A conference call and webinar will be held on the same day at 9:00 a.m. Eastern Time to discuss operational and financial results [2] - Investors can register in advance for the call, and a replay will be available for 90 days on Innoviz's website [3] Company Overview - Innoviz is a global leader in LiDAR technology, serving as a Tier-1 supplier to major automotive manufacturers [4] - The company's LiDAR and perception software aim to enhance safety and performance in autonomous vehicles [4] - Innoviz operates across the U.S., Europe, and Asia, collaborating with premium car brands and various commercial and industrial leaders [4]

Core Viewpoint - Innoviz Technologies' stock surged 15% as investors anticipate new design wins and growth in autonomous driving technology [1] Group 1: Stock Performance and Analyst Ratings - Innoviz shares increased significantly despite trading at a discount compared to lidar peers, driven by optimism regarding potential major automaker deals [1][4] - Goldman Sachs analyst Mark Delaney upgraded Innoviz's stock rating from Neutral to Buy and raised the price target from $1.50 to $2.50, indicating a 47% upside potential [2] Group 2: Design Wins and Market Position - Delaney emphasized near-term design win opportunities and the attractive relative valuation of Innoviz, suggesting that as autonomous driving technology gains importance, new program awards should accelerate [2] - Innoviz's collaboration with a top-five global passenger auto manufacturer enhances its chances of securing a series production award, alongside previous wins from Volkswagen and Mobileye [3] Group 3: Financial Projections - Delaney projected EPS, including stock-based compensation, at $(0.32), $(0.30), and $(0.25) for 2025, 2026, and 2027, respectively, with a 2028 EPS forecast of $0.20 [6] - The analyst estimated 2028 revenue at $150 million, based on lidar shipments for over 1,000 autonomous vehicles and 100,000–200,000 consumer lidar units, with potential upside revenue reaching approximately $250 million in a stronger AV adoption scenario [6] Group 4: Long-term Potential - Innoviz's potential extends beyond the automotive sector, with opportunities in robotics, security, and traffic management, which could broaden its total addressable market [7] - A significant design win could act as a key catalyst for stock performance, as lidar stocks have historically reacted positively to new program awards [7]

Market Overview - U.S. stocks exhibited mixed performance, with the Nasdaq Composite increasing by over 100 points on Monday [1] - Cannabis-linked stocks experienced significant gains following President Trump's video promoting the health benefits of cannabis [1] Company Highlights - Tilray Brands, Inc. (NASDAQ: TLRY) saw a sharp increase in shares, rising 39.2% to $1.5983 [1] - Merus N.V. (NASDAQ: MRUS) gained 36.6% to $94.14 after Genmab agreed to acquire the company for $97 per share [4] - Better Home & Finance Holding Company (NASDAQ: BETR) increased by 20.1% to $63.60, supported by a $75 million at-the-market offering for Class A shares [4] - BTQ Technologies Corp. (NASDAQ: BTQ) jumped 20% to $6.36, as Danal began proof-of-concept for BTQ's quantum-secure Stablecoin settlement network [4] - SNDL Inc. (NASDAQ: SNDL) rose 18.8% to $2.77, benefiting from the positive sentiment around cannabis stocks [4] - Innoviz Technologies Ltd. (NASDAQ: INVZ) increased by 15.6% to $1.9701 after Goldman Sachs upgraded the stock from Neutral to Buy, raising the price target from $1.50 to $2.50 [4] - Sandisk Corporation (NASDAQ: SNDK) shares jumped 14.3% to $111.06 [4] - GDEV Inc. (NASDAQ: GDEV) rose 12.7% to $29.24 [4] - Ondas Holdings Inc. (NASDAQ: ONDS) gained 12.2% to $8.59 [4] - Pony AI Inc. (NASDAQ: PONY) increased by 10.3% to $23.36, with Citigroup initiating coverage with a Buy rating and a price target of $29 [4] - Galaxy Digital (NASDAQ: GLXY) gained 9.5% to $33.85 [4] - Western Digital Corporation (NASDAQ: WDC) rose 9% to $116.48 after Rosenblatt raised its price target from $90 to $125 while maintaining a Buy rating [4] - New Oriental Education & Technology Group Inc. (NYSE: EDU) increased by 5% to $53.85, with B of A Securities maintaining a Buy rating and raising the price target from $56.2 to $58.2 [4] - GLOBALFOUNDRIES Inc. (NASDAQ: GFS) rose 5% to $37.40 following a collaboration announcement with Corning for developing detachable fiber connector solutions [4]

Group 1 - Innoviz Technologies Ltd. has been selected to supply lidar units for SAE Level 4 autonomous class-8 semi-trucks, marking a significant contract win for the company [2][3] - The contract involves supplying InnovizTwo sensors and developing software modifications for vehicle integration, which highlights the company's capabilities in the autonomous vehicle sector [2][3] - Analysts project a 129% revenue growth for Innoviz as a result of this contract, indicating a strong potential impact on the company's expansion plans [3] Group 2 - Innoviz Technologies specializes in high-performance, solid-state lidar sensors and perception software, primarily targeting the automotive and autonomous vehicle industries [4] - The company's products, such as the InnovizTwo sensor, are designed to create detailed 3D maps of the environment, which are essential for safe autonomous driving [4]

Core Insights - Innoviz Technologies Ltd. announced that its InnovizTwo high-performance LiDAR platform will be utilized in Level 4 autonomous trucks in North America [1] Company Summary - Innoviz Technologies Ltd. is advancing its technology by integrating the InnovizTwo LiDAR platform into autonomous trucking solutions, indicating a significant step in the development of autonomous vehicle technology [1] Industry Summary - The adoption of high-performance LiDAR systems like InnovizTwo in Level 4 autonomous trucks highlights the growing trend and demand for advanced sensor technologies in the autonomous vehicle industry [1]

Core Viewpoint - Innoviz Technologies, Cron AI, and D2 Traffic Technologies have announced a collaboration to address barriers to LiDAR deployment in intelligent transport systems (ITS), perimeter security, and infrastructure intelligence by integrating their technologies [1][5]. Group 1: Technology Integration - The collaboration combines Innoviz's rugged LiDAR sensor, InnovizSmart, with Cron AI's edge-native 3D perception platform, senseEDGE, and D2 Traffic Technologies' expertise in local deployment [1]. - This integration aims to resolve three key challenges in LiDAR adoption: unreliable perception, fragmented hardware/software stacks, and the lack of field-ready deployment tools [1]. Group 2: Performance Metrics - InnovizSMART can return 5.76 million points-per-second with a single reflection and has a range capability of 450 meters, enabling superior detection of vehicles and Vulnerable Road Users (VRUs) compared to other sensors [2]. - When combined with Cron AI's senseEDGE software, the LiDAR data is processed at the edge, providing real-time insights without cloud dependency [2]. Group 3: Market Context - The global ITS market is projected to reach USD 73.76 billion by 2034, growing at a CAGR of 6.64%, with North America expected to account for USD 16.67 billion in 2024 and grow at 6.65% annually over the next decade [5][7]. - The collaboration offers a scalable and ROI-driven pathway for LiDAR adoption in various sectors, including ITS, rail, security, and smart city deployments [5]. Group 4: Implementation and Demonstration - The latest D2 VIA solution will be installed at three key intersections in Atlanta, with a live demonstration scheduled at the ITS World Congress from August 24-29, 2025 [6][7].

Core Insights - Innoviz (NASDAQ: INVZ) shares have not experienced the same significant gains as its competitors, Ouster (OUST) and Aeva (AEVA), which have increased by 184% and 175% respectively this year [1] Company Performance - Innoviz's stock performance is lagging behind that of its peers in the lidar technology sector, indicating potential challenges or market perceptions affecting its valuation [1]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $9.7 million, bringing the first half total to $27.1 million, exceeding the total revenue for all of 2024 [4][25] - Cash burn for the quarter was $7.3 million, consistent with guidance for single-digit cash burn, and a decrease from $20.7 million in Q1 2025 [5][12] - The company ended Q2 with approximately $79.4 million in cash and cash equivalents [11][25] - Gross margins for the quarter were approximately 16.31% [26] Business Line Data and Key Metrics Changes - The revenue increase was driven by LiDAR unit sales and non-recurring engineering (NRE) payments [10][28] - The company has begun shipping units from Fabrinet's high-volume production line to meet growing demand [22][23] - NRE bookings for the year have already exceeded $20 million, prompting an increase in guidance for NRE bookings to $30 million to $60 million [12][24] Market Data and Key Metrics Changes - The company is engaged with two out of the top five global automotive OEMs, which together represent nearly one-fifth of the global auto market share [31] - There is a growing recognition in the industry that LiDAR technology is essential for safe autonomous driving, as evidenced by the acceleration of robotaxi deployments [16][32] Company Strategy and Development Direction - The company aims to become the world's premier large-scale provider of best-in-class LiDAR solutions for autonomous driving and beyond [32] - Innovus Smart was launched for non-automotive applications, with partnerships established for security and safety projects [17][19] - The company is focusing on tightly managing cash burn while ramping up production and securing additional design wins in both automotive and non-automotive segments [30][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting financial targets for 2025, with expectations of more than a twofold increase in revenues year-over-year [23][24] - The company is optimistic about growth opportunities in the non-automotive sector, which offers higher average selling prices (ASPs) and margins compared to automotive [80] - The operational environment is described as a "gold rush" for autonomous driving, with increased interest from traditional OEMs and commercial vehicle manufacturers [52][66] Other Important Information - The company is launching an at-the-market (ATM) program for $75 million to support general business purposes and maintain liquidity [27][28] - Innovus Smart is integrated with NVIDIA Jetson, enhancing its appeal for developers in various applications [19][66] Q&A Session Summary Question: What is needed for the development program with the top five auto OEM to become a series production win? - Management indicated that they have already started working on the program towards the SOP in 2027 and are finalizing contract details [37] Question: What are the expected annual volumes if the development program becomes a series production award? - Management noted that the volumes are high, and discussions are ongoing about potentially expanding to short-range LiDAR for other programs [38][39] Question: How quickly does the company plan to use the $75 million ATM announced? - Management stated that they will use the ATM opportunistically to buffer lumpiness related to NRE payments and maintain liquidity [40][42] Question: What is different about the current development agreement compared to previous ones? - Management explained that the current agreement allows for modifications to requirements while working on contract details, similar to past experiences with other OEMs [46][49] Question: Does the acceleration of robotaxi deployments benefit level three programs? - Management clarified that while there is increased interest in autonomy, level three and level four programs are somewhat distinct and cater to different market needs [51] Question: How does the company plan to tune LiDAR for industrial applications? - Management confirmed that Innovus Smart is based on the same LiDAR technology used in automotive applications, meeting functional safety requirements [57][60] Question: What is the strategy for selecting customers and managing engineering resources? - Management emphasized that 95% of their focus remains on automotive, while also leveraging excess production capacity to penetrate non-automotive markets [64][66]

Core Insights - Innoviz Technologies Ltd. reported a quarterly loss of $0.09 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.08, but an improvement from a loss of $0.13 per share a year ago [1] - The company posted revenues of $9.75 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 19.38%, compared to revenues of $6.66 million in the same quarter last year [2] - The stock has gained approximately 8.3% since the beginning of the year, underperforming the S&P 500's gain of 9.6% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.08 on revenues of $13.79 million, and for the current fiscal year, it is -$0.27 on revenues of $59.63 million [7] - The estimate revisions trend for Innoviz Technologies was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Automotive - Original Equipment industry, to which Innoviz Technologies belongs, is currently ranked in the bottom 40% 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 and stock performance [5]

Financial Performance - H1 2025 revenue reached $27.1 million, exceeding the full-year 2024 revenue of $24.3 million[8, 12, 37] - Q2 2025 revenue increased by 46% year-over-year, reaching $9.7 million compared to $6.7 million in Q2 2024[8, 12, 32, 34] - Q2 2025 gross margin was 16%, while the H1 2025 gross margin was 31%[8, 12] - Cash burn in Q2 2025 decreased to $7.3 million, a significant reduction from $21.6 million in Q2 2024[8, 12, 33, 34, 37] - The company's liquidity stands at $79.4 million[12, 33] Strategic Developments - A Statement of Development Work (SODW) agreement was signed with a Top 5 passenger automotive manufacturer for a Level 3 global production vehicle program, with SOP planned for 2027[5, 13, 14, 15, 38] - InnovizSMART was launched for non-automotive applications, with collaborations announced with multiple companies[5, 19, 38] - The company shipped the first InnovizTwo units from Fabrinet's high-volume production line[6, 21, 38] Future Targets - The company aims to grow revenue to $50-60 million, more than double 2024 levels[29] - The company is updating NRE Bookings target to $30-60 million, already booking $20 million+ vs initial guide of $20-50 million[29]