Innoviz Technologies .(INVZ) - 2024 Q3 - Earnings Call Presentation

Financial Performance - Innoviz reported revenues of $4.5 million in Q3 2024, exceeding the midpoint of the guidance range of $3.5 - $5 million[4, 19] - The company decreased cash used in operations and capital expenditures to $17.7 million in Q3 2024, compared to $28.6 million in Q3 2023 and $21.6 million in Q2 2024[4, 19] - Operating expenses decreased by 6.4% to $26 million in Q3 2024, from $27.8 million in Q3 2023[19] - R&D expenses decreased to $19.7 million in Q3 2024, from $20.7 million in Q3 2023[19] - Innoviz is reiterating FY24 revenue target of $23.5-25 million, compared to $20.9 million in FY23[18] Business Development & Technology - Innoviz entered into two new OEM programs through an agreement with a Level 4 platform provider, with expected SOP in 2026[4, 5, 20] - These programs involve supplying a bundle of nine InnovizTwo LiDARs per vehicle across multiple regions[5] - The company is progressing with Volkswagen Group programs, including Level 3 and Level 4 platforms[4, 6] - Innoviz is advancing pipeline opportunities, with approximately 50% in the RFQ stage[10, 21] - The company is developing new technology, including a new InnovizTwo configuration with over 12 million pixels/sec and an "All in One" LiDAR & IR Camera[4, 12]