Innoviz Technologies .(US:INVZ)2022-08-10 15:47Company Vision and Strategy - Innoviz aims to become the world's leading Tier 1 supplier of LiDAR and perception software[2] - The company is expanding its global footprint, leveraging its success in Germany to target the EU, Japan, China, and the USA[7, 8] - Innoviz is transitioning to a direct supplier business model (Tier 1) to reduce costs for customers and increase revenue contribution[9] Key Partnerships and Market Position - Innoviz was selected by two leading car makers, representing 15% of the automotive market[6] - The company has established collaborations with market leaders, including BMW Group and Qualcomm[5] - Innoviz is targeting a 15% automotive market share[14] Product Development and Manufacturing - Innoviz is ramping up volume production of INNOVIZTWO B1 samples, expected to begin in early 2023[16] - First integration of INNOVIZ360 B samples is planned for Q3/Q4 2022, with engineering samples available by the end of 2022[16] - The company utilizes design for automation and relies on contract manufacturing to avoid additional investment in volume manufacturing[10] Financial Performance and Targets - Innoviz reported revenues of $1.8 million for Q2 2022, compared to $1.0 million in Q2 2021[17] - The company maintains a high liquidity level of $246 million in cash, short-term deposits, and marketable securities[17] - Innoviz has a $6.6 billion order book, representing total lifetime projected revenues from awarded accounts[14]