Innoviz Bolsters Financial Position with Approx. $80M through Multi-Year NRE Payment Plan with Key Customers

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]