Innoviz Technologies

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. It offers InnovizOne, an automotive-grade, mass-producible LiDAR sensor, InnovizTwo, next generation high-performance automotive-grade LiDAR sensor, and Innoviz`s perception software, designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. The firm is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 360 Capital Partners, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. The company was founded by Omer David Keilaf, Oren Buskila and Oren Rosenzweig on January 18, 2016 and is headquartered in Rosh Haayin, Israel.

Earnings data Q1 2021

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Innoviz Technologies surpasses Q2 revenue expectations, eyes growth opportunities

Innoviz Technologies demonstrated strong revenue performance and margin improvement in Q2 2024.
While facing challenges in revenue guidance for Q3, the company is optimistic about operational targets.
Securing key partnerships and focusing on technology advancements position Innoviz well for future growth.

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Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. It offers InnovizOne, an automotive-grade, mass-producible LiDAR sensor, InnovizTwo, next generation high-performance automotive-grade LiDAR sensor, and Innoviz`s perception software, designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. The firm is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 360 Capital Partners, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. The company was founded by Omer David Keilaf, Oren Buskila, and Oren Rosenzweig on January 18, 2016 and is headquartered in Rosh Haayin, Israel.

Full year 2023 revenues of approximately $21M exceeded guidance with year-over-year growth of 246% Q4 2023 revenues of approximately $15M exceeded guidance with 328% growth quarter-over-quarter and 846% growth year-over-year Strong revenue growth coupled with disciplined cost management led to the lowest quarterly cash burn since becoming a public company, finishing the year with approximately $150 million in cash and equivalents 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 and financial targets.

Innoviz Reports Fourth Quarter and Full Year 2023 Results, Exceeding Revenue Guidance

The company received certification for its design and assembly of Lidar, Perception SW and Lidar solutions, further solidifying its position as a trusted Tier-1 supplier TEL AVIV, Israel , Feb. 6, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced its successful achievement of the IATF 16949:2016 certification, which includes the ISO 9001:2015 requirements and is a testament to the Company's dedication to maintaining exceptional quality and standards in the automotive industry.

Innoviz Attains IATF 16949:2016 Certification Demonstrating Commitment to the Automotive Industry's Quality Standards

Realignment actions to be implemented during the first quarter of 2024 and are expected to reduce cash outlays by $22-24 million on an annualized basis Savings expected to be derived primarily from the transition of the InnovizOne program to series production and concentration of future investments on the InnovizTwo sensor and perception software suite  TEL AVIV, Israel , Jan. 31, 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 a strategic realignment of its operations to expand the Company's cash runway and optimize its path towards profitability and free cash flow generation.

Innoviz Announces Operational Realignment to Expand Cash Runway and Optimize Path Towards Profitability and Free Cash Flow

TEL AVIV, Israel , Jan. 29, 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 fourth quarter and full year ended December 31, 2023 on Wednesday, February 28, 2024 before the market opens.

Innoviz Sets Fourth Quarter and Full Year 2023 Conference Call for Wednesday, February 28 at 9:00 a.m. ET

Stefan Jacoby brings CEO- and President-level experience from General Motors, Volvo, Volkswagen, and Mitsubishi Alexander von Witzleben brings CEO-level experience from Arbonia AG, Feintool International, and JENOPTIK AG TEL AVIV, Israel , Jan. 4, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced the expansion of its board of directors with two new members – Stefan Jacoby, former Executive Vice President at General Motors and head of its International Operations, and Alexander von Witzleben, former CEO of Arbonia AG.

Innoviz Strengthens Board of Directors with Industry Executives to Support Next Chapter of Growth as a Global Automotive LiDAR Leader

Innoviz is on track to dominate the LiDAR industry. This might become clear in the first half of 2024. The company has made significant commercial progress, securing a tier 1 supplier position with BMW and negotiating deals with other major automakers like Volkswagen. Innoviz's technical progress is evident in its improved InnovizTwo LiDAR system, which offers higher resolution, extended range, and advanced software capabilities.

Innoviz: One Step Away From Industry Leader

Innoviz Technologies Ltd (NASDAQ: INVZ) has been a disappointment for its shareholders this year but Wall Street analysts expect the next twelve months to be materially different for this autonomous driving tech stock.

This autonomous driving tech stock could quintuple from here

TEL AVIV, Israel , Nov. 29, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced its participation in the following upcoming investor conferences: Barclays Global Automotive and Mobility Tech Conference - Senior management will hold individual virtual meetings with investors, and participate in a fireside chat moderated by Barclays, on November 29, 2023 at 8:40am ET.

Innoviz Technologies Announces Participation in Upcoming Investor Conferences

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Luminar, Innoviz, and Ouster shares all swooned during Tuesday's trading session. It may have been caused by a letter from a House committee.

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Ouster and Innoviz had positive financial performance in Q3, with Ouster achieving expected milestones and Innoviz maintaining its revenue forecast. Cepton and Luminar revised their forecasts downward, while MicroVision set a lower target for the year. Cash runway analysis shows that AEye and MicroVision will run out of cash in 2024, while Innoviz may exhaust its cash by 2025.

Lidar Quarterly Insights: Q3 2023 Update

Innoviz Technologies Ltd (NASDAQ:INVZ ) Q3 2023 Earnings Conference Call November 8, 2023 9:00 AM ET Company Participants Rob Moffatt - VP, Corporate Development & IR Omer Keilaf - CEO Eldar Cegla - CFO Conference Call Participants Mark Delaney - Goldman Sachs Andres Sheppard - Cantor Fitzgerald Kevin Cassidy - Rosenblatt Securities Kevin Garrigan - WestPark Capital Rob Moffatt Good morning. This is Rob Moffat, Vice President of Corporate Development and Investor Relations at Innoviz, and I want to welcome you to our earnings conference call.

Innoviz Technologies Ltd (INVZ) Q3 2023 Earnings Call Transcript

The auto tech specialist delivered supercharged third-quarter results. It beat on both the top and bottom lines for the period.

Why Innoviz Technologies Stock Rocketed 11% Higher Today

Q3 2023 revenues exceeds guidance with 138% growth quarter-over-quarter and 297% growth year-over-year Innoviz reiterates full year 2023 commercial and financial targets and expects another meaningful step-up in revenues in Q4 2023 TEL AVIV, Israel , Nov. 8, 2023 /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 third quarter ended September 30, 2023 and reiterated 2023 commercial and financial targets.

Innoviz Reports Third-Quarter 2023 Results, Delivering Strong Sequential and Year-Over-Year Revenue Growth

Lidar companies' sustainability is crucial for investment; many may need equity sales to survive. Revenue forecasts and cash expenditures play a significant role in determining a company's potential for profitability and longevity. Only Luminar and Ouster show financial resilience and the potential to achieve profitability by 2026, while other companies may require additional funding.

Modeling Lidar Companies' Survival And Profitability

TEL AVIV, Israel , Oct. 24, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a Tier-1 direct supplier of high performance, automotive-grade LiDAR sensors and perception software, today provides an operational update amidst the current conflict in Israel, reiterates its 2023 targets and shares details for its third quarter 2023 earnings call.

Innoviz Provides Operational Update, Reiterates 2023 Financial Targets and Announces Third Quarter 2023 Earnings Details

Innoviz Technologies Ltd. completed a capital raise below the market price, causing the stock to plunge. The Lidar company eventually needed more capital to fund its business, but the timing and pricing of the offering spooked the market. Innoviz has boosted its revenue forecasts and has potential for growth, but investor confidence has been reduced.

Innoviz: Recovering From Devastating Capital Raise

el Aviv-based sensor maker Innoviz Technologies Ltd. INVZ, -2.81% said Monday its entire team remains safe and no on was injured after the weekend attack by Hamas and subsequent fighting in Israel that continues.

Israeli sensor maker Innoviz Tech says its team is safe

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It makes sense to invest in autonomous driving stocks moving forward. Whether in September or any other month, the research is clear: The market is primed for growth boasting an annual growth rate approaching 23% between this year and 2028.

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After years of talk — and a SPAC boom in the sensor sector — automakers have finally started incorporating lidar units into their vehicles.

Major lidar market share is up for grabs. A few startups are emerging as likely winners

Recently Completed Public Offering Bolsters Balance Sheet TEL AVIV, Israel , Aug. 16, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today issued an open letter to its shareholders following its recently-completed underwritten public offering of ordinary shares, in which Co-Founder and CEO Omer Keilaf highlights the Company's strong operational execution and recent customer wins.

Innoviz Reiterates Value Proposition in Open Letter to Shareholders

Innoviz is raising $65 million in additional capital via a secondary offering of shares. The secondary offering was priced at a discount to the current price, as is usually the case, and will add to the number of shares available for trade.

Why Innoviz Technologies Stock Is Falling Today

A player in the Lidar and autonomous vehicle space, Israel-based Innoviz (NASDAQ: INVZ ) announced that it would sell 26 million shares of INVZ stock, triggering a 20% decline in the name this morning. The firm reported that it would obtain gross proceeds of $65 million from the deal.

Why Is Innoviz (INVZ) Stock Down 20% Today?

TEL AVIV, Israel , Aug. 9, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software,  today announced the pricing of its upsized underwritten public offering of 26.0 million ordinary shares at a public offering price of $2.50 per ordinary share.

Innoviz Announces Pricing of Upsized Public Offering of Ordinary Shares

TEL AVIV, Israel , Aug. 9, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced that it has commenced an underwritten public offering of $60.0 million of its ordinary shares.

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