"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, ...

Financial Performance - In the year ended December 31, 2023, the company reported a net loss of approximately $123.5 million, with operating activities using approximately $93.1 million[366]. - The company expects to continue incurring significant losses in future periods due to ongoing research and development and commercialization expenses[375]. - Approximately 98% of the company's revenues were denominated in USD for the year ended December 31, 2023[356]. Cash and Financing Activities - As of December 31, 2023, the company had approximately $150.2 million in cash and cash equivalents, short-term deposits, short-term restricted cash, and marketable securities[373]. - During the year ended December 31, 2023, cash provided by financing activities was approximately $61.9 million, primarily from a public offering that generated net proceeds of approximately $61.4 million[370]. - The company completed an underwritten public offering in Q3 2023, issuing 26,352,878 ordinary shares for proceeds of approximately $61.4 million[363]. Research and Development - The company invested significantly in research and development, with a team of 395 employees focused on LiDAR-based technologies as of December 31, 2023[378]. - As of December 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 million, expected to be recognized as revenue in future years[376]. Cash Flow from Activities - Cash provided by investing activities in 2023 was approximately $1.1 million, primarily from the withdrawal of bank deposits of approximately $141.5 million[368]. Supply Chain Challenges - The company is currently facing supply chain challenges, including increased prices and lead times for certain product components due to higher-than-expected demand[383]. Property and Equipment - Property and equipment are stated at cost, net of accumulated depreciation and impairment[393]. - Estimated useful lives of property and equipment are determined at initial recognition and routinely reviewed[393]. - When useful life is reassessed, the remaining carrying amount is depreciated over the revised estimated useful life[393].

Exhibit 99.1 Innoviz Reports Fourth Quarter and Full Year 2023 Results, Exceeding Revenue Guidance TEL AVIV, Israel, Feb. 28, 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 provided commercial and strategic updates on its business, reported its financial results for the fourth quarter and full year ended December 31, 2023, and set 2024 commercial a ...

Exhibit 99.1 Innoviz reiterates full year 2023 commercial and financial targets and expects another meaningful step-up in revenues in Q4 2023 TEL AVIV, Israel, November 8, 2023 – 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 provided commercial and strategic updates on its business, reported its financial results for the third quarter ended September 30, 2023 and reite ...

Q2 2023 Earnings Presentation August 2, 2023 Many factors could cause actual future events, and, in the case of our forward-looking revenue, Cash Collection from Customers, and NRE bookings, actual orders or actual payments, to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert series production awards or other programs into definitive orders and the magnit ...

Revenue and Financial Performance - Q2 2023 revenues were $1.5 million, up 45% compared to Q1 2023 and down 18% compared to Q2 2022[6] - 2023 revenues are now expected to be in the range of $15-20 million, up from the previously disclosed range of $12-15 million[9] - Net loss for the six months ended June 30, 2023 was $65.97 million, compared to $58.35 million in the same period of 2022, a 13.1% increase[22] - Net cash used in operating activities for the six months ended June 30, 2023 was $51.43 million, slightly higher than $50.11 million in the same period of 2022[22] Operating Expenses and Costs - Operating expenses in Q2 2023 were $30.4 million, an increase of 6% compared to Q2 2022[7] Liquidity and Cash Flow - Liquidity as of June 30, 2023 consisted of approximately $129.6 million in cash and cash equivalents, short term deposits, short term restricted cash and marketable securities[8] - Cash and cash equivalents dropped from $55.7 million in December 2022 to $34.3 million in June 2023, a 38.4% decrease[20] - Investment in bank deposits increased to $62.0 million in the six months ended June 30, 2023, up from $50.0 million in the same period of 2022[22] - Withdrawal of bank deposits decreased to $79.5 million in the six months ended June 30, 2023, down from $135.0 million in the same period of 2022[22] Business Development and Partnerships - Innoviz achieved Start of Production (SOP) with its first generation BMW Group program, with first component shipments in July 2023[2] - Innoviz announced an expansion in its relationship with BMW Group, developing B-samples for an enhanced solution portfolio including InnovizTwo LiDAR and InnovizCore AI compute module[3] - Innoviz began shipping production units to BMW Group's first generation program in July 2023[4] - Innoviz is currently working with 8 of the top 10 global automakers, with more than 5 programs in the RFQ stage[5] - Total new NRE bookings are now expected to be in the range of $20-70 million, up from the previously disclosed range of $20-40 million[9] Product Development and Innovation - Innoviz completed development of a new custom ASIC, potentially extending LiDAR's maximum detection range to over 450 meters[5] Asset and Equity Changes - Total assets decreased from $255.4 million in December 2022 to $198.8 million in June 2023, a decline of 22.2%[20] - Total shareholders' equity declined from $192.0 million in December 2022 to $136.7 million in June 2023, a 28.8% decrease[20] - Accumulated deficit increased from $511.8 million in December 2022 to $577.8 million in June 2023[20] Trade Receivables and Inventory - Trade receivables increased from $1.76 million in December 2022 to $2.38 million in June 2023, a 35.2% rise[20] - Inventory grew from $4.24 million in December 2022 to $4.58 million in June 2023, an 8.2% increase[20]