Reached an important agreement with a major platform partner to supply a bundle of InnovizTwo short- and long-range LiDARs to their Level 4 autonomous platform, which was already selected by several OEM programs Q2 2024 revenues of $6.7 million exceed previous guidance range of $4-$5 million, up from $1.5 million in Q2 2023 TEL AVIV, Israel, Aug. 7, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive gra ...

As the lifeblood of global travel and with ever-growing populations and globalization, adding advanced 3D sensing tools onto airport management is essential to ensure a smooth and secure traveling experience. The Indoor Lab is pioneering the shift from cameras to LiDAR-based solutions, providing higher-quality and exceptionally accurate data for stakeholders. By utilizing InnovizTwo LiDARs for end-to-end airport operational and safety management using machine learning and AI capabilities, The Indoor Lab wil ...

TEL AVIV, Israel, Aug. 2, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, announced today that it has received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated July 30, 2024, indicating that the Company no longer satisfies Nasdaq Listing Rule 5450(a)(1) based upon a closing bid price of less ...

TEL AVIV, Israel, July 17, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ), (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high performance, automotive-grade LiDAR sensors and perception software, today announced that it will release its earnings results for the second quarter ended June 30, 2024, on Wednesday, August 7, 2024, before the market opens. Innoviz will host a conference call and webinar on the same day at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time) to discuss ...

In most circumstances, you should avoid extremely speculative ideas, especially those billed as cheap penny stocks. It's difficult to find hard statistics regarding the odds of success in this arena, in large part because of the diversity of enterprises and industries involved. However, to put it colloquially, the odds aren't good at all. We know this because if it the odds were favorable, everybody would bet on cheap penny stocks. But it's not that easy and most times, the underlying entities lose consider ...

"This is an exciting moment for Innoviz as we collaborate with a major global OEM on a new product," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "As the L4 market is starting to ramp-up, we are happy to be able to provide a complete set of solutions to meet the needs of OEMs worldwide and support the acceleration of AV adoption across all sectors." About Innoviz Photo - https://mma.prnewswire.com/media/2448527/New_Short_Range_LiDAR.jpg Logo - https://mma.prnewswire.com/media/2279073/Innovi ...

For the full Impact Report and for more details, please see here. Media Contact [email protected] Photo - https://mma.prnewswire.com/media/2447375/Innoviz_Technologies.jpg Logo - https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg About Innoviz Investor Contact [email protected] SOURCE Innoviz Technologies "As a player in the automotive industry, our mission is not just to do less harm, but to do good, by creating a unique technology that is safe by design", said Omer Keilaf, CEO and Co-F ...

With over 16,000 members and 750 startups, EcoMotion is a dynamic and growing global community in the smart mobility sector which creates a platform for startups to connect and collaborate with other community members including global industry, investors, and public sector, while highlighting the latest technology innovations in mobility. EcoMotion's mission is to advance the smart mobility sector through technology by supporting startups to scale and addressing the global mobility ecosystem challenges. Inn ...

Financial Data and Key Metrics - Q1 2024 revenue was $7.1 million, an 18% increase above the guidance range and a significant jump from $1 million in Q1 2023 [46] - Cash and cash equivalents at the end of Q1 2024 stood at approximately $128 million [45] - Operating expenses for Q1 2024 were $31.7 million, a 5% decrease from $33.3 million in Q1 2023 [72] - R&D expenses for Q1 2024 were $23.8 million, down from $26.1 million in Q1 2023 [47] - Cash burn in Q1 2024 was $23 million, compared to $29 million in Q1 2023 [71] Business Line Data and Key Metrics - The majority of Q1 2024 revenue came from NRE (Non-Recurring Engineering), with significant contributions from InnovizOne components for BMW samples [5] - InnovizTwo platform is nearing design-free stage for automotive-grade applications, supported by successful winter testing [41] - The company is focusing on InnovizTwo platform for all RFI and RFP pipeline activities, moving away from InnovizOne [85] Market Data and Key Metrics - The company is actively working on 10 to 15 programs in the pipeline, with about 50% in the RFQ stage [59] - Significant progress has been made in Level 4 opportunities, particularly with two leading Level 4 platform companies in the tracking and ride-hailing spaces [68] - The company expects to see a meaningful percentage of vehicles equipped with LiDAR by 2030, with an estimated 10 million LiDAR scanners sold globally in the automotive market by that year [89] Company Strategy and Industry Competition - The company is leveraging contract manufacturing to save CapEx and accelerate time-to-market [17] - Innoviz is the only pure-play LiDAR company to reach SOP (Start of Production) with Level 3, with vehicles already on the road using its LiDAR and perception software [26] - The company is optimistic about its ability to capitalize on future opportunities for LiDAR, especially with new regulatory requirements like NHTSA's automatic emergency braking system [69] Management Commentary on Operating Environment and Future Outlook - Management highlighted the successful winter testing of InnovizTwo, which demonstrated resilience in harsh conditions, potentially giving the company a competitive edge [90] - The company expects full-year 2024 revenues to be more back-half weighted, with continued lumpiness due to the typical cadence of NREs [110] - Management is confident in meeting the targets of winning two to three additional programs and $20 million to $17 million of new NRE bookings in 2024 [70] Other Important Information - The company is hosting the EcoMotion Assembly at its headquarters on June 4th, 2024, a prestigious conference in the mobility ecosystem [74] - Innoviz is collaborating with NVIDIA and working on several NVIDIA-based RFQs, which could present additional growth opportunities [24] Q&A Session Summary Question: Breakdown of revenue between NRE and production for Q1 2024 and outlook for Q2 2024 - A significant part of Q1 2024 revenue was NRE, with three elements: InnovizOne components for BMW, growing sample shipments, and NREs, which are expected to lead revenue for the year [5] - Q2 2024 revenue is expected to be in the range of $4 million to $5 million, compared to $1.5 million in Q2 2023 [44] Question: Interest from OEMs after successful winter testing - The successful winter testing of InnovizTwo generated significant interest from OEMs, particularly due to its performance in extreme conditions [10] Question: CapEx expectations for 2024 - CapEx for 2024 is expected to be stable, similar to 2023, as the company is relatively CapEx-light and uses contract manufacturers [16][18] Question: Gross margins, OpEx, and CapEx outlook for 2024 - Gross margins are expected to improve with additional NREs, which positively affect margins [14] - OpEx is expected to remain stable or decrease slightly due to the realignment program [83] - CapEx is expected to be similar to 2023 levels [16][18] Question: Timeline for OEM agreements - The BMW i7 has launched in Germany, with user experience feedback expected soon [84] - The VW ID Buzz program is planned to launch in 2026 [22] - The company is working on additional Level 3 programs with VW and other OEMs, with timelines still under discussion [95]

IInnoviz uses winter tests to measure and scrutinize the Company's products for thousands of kilometers. The data and insights accumulated are used to improve Innoviz's proprietary AI-backed software and hardware solutions. Ahead of the drive, Innoviz received TÜV SÜD Certification Mark for Roof Racks, establishing an essential industry benchmark, approving the LiDAR roof setup to operate on roads. During an 18-day period, through more than 120 hours of driving, and across ten countries, including Germany, ...