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Innoviz Technologies Ltd. (Nasdaq: INVZ) is a global leader specializing in the development and production of high-performance LiDAR sensors and perception software. Founded in 2016 and headquartered in Israel, the company advances the autonomous vehicle revolution with its cutting-edge LiDAR technology, enabling the mass commercialization of autonomous vehicles. Innoviz's flagship products, InnovizOne™ and InnovizPro™, utilize a solid-state design that employs proprietary technology to deliver superior performance at a size and cost suitable for mass market adoption.
Innoviz caters to OEMs and Tier-1 partners in the automotive industry, supporting various markets including passenger vehicles, robotaxis, shuttles, delivery vehicles, buses, and trucks. Beyond automotive, Innoviz's solutions empower industries such as logistics, drones, robotics, construction, agriculture, smart cities, smart infrastructure, security, and mapping.
In recent developments, Innoviz has announced its participation in the Consumer Electronics Show (CES) 2024, where it will showcase live demonstrations of its latest LiDAR technologies, including the InnovizTwo and Innoviz360. The company will also feature the BMW i7 and Volkswagen ID. Buzz, both integrated with Innoviz’s LiDAR solutions. The BMW i7 with Level 3 autonomous driving capabilities will be available for order in Germany, with deliveries expected to commence in March 2024.
Financially, Innoviz has shown impressive growth. In Q1 2024, the company reported revenues of $7.1 million, a substantial increase from $1.0 million in Q1 2023. The company is focused on optimizing its cash flow and operational efficiency, recently undergoing a strategic realignment to extend its cash runway. This includes transitioning InnovizOne into series production and focusing future investments on the InnovizTwo sensor and software platform to drive profitability.
Innoviz's pursuit of excellence is further demonstrated by its recent achievement of the IATF 16949:2016 certification, a globally recognized standard for automotive quality management systems. This certification underscores Innoviz's commitment to maintaining exceptional quality and standards in the automotive industry.
With a strong presence across the U.S., Europe, and Asia, Innoviz continues to collaborate with top-tier automotive manufacturers and commercial leaders. The company's technology not only meets the automotive industry's stringent performance and safety standards but also aims to ensure that autonomous vehicles are safer than human-driven ones.
For more information, visit www.innoviz.tech. You can also follow Innoviz's latest updates on Facebook, LinkedIn, YouTube, and Twitter.
Innoviz Technologies (NASDAQ: INVZ), a Tier-1 supplier of automotive LiDAR sensors and perception software, has announced a $40 million registered direct offering. The company will sell 28,776,978 units at $1.39 per unit, with each unit comprising one ordinary share and 0.8 warrants. The warrants will be exercisable at $1.69 per share with a five-year expiration period.
The offering is expected to close on February 11, 2025, with WestPark Capital acting as the sole placement agent. The proceeds will be used for general business purposes. The offering is being made through a previously filed Form F-3 registration statement that became effective on October 11, 2022.
Innoviz Technologies (NASDAQ: INVZ), a Tier-1 supplier of automotive LiDAR sensors and perception software, has scheduled its Q4 and full year 2024 earnings call for Wednesday, February 26, 2025, at 9:00 a.m. ET. The company will release results before market opens.
Recent key developments include:
- Secured an $80 million NRE payment plan with key customers, expecting over $40 million in cash payments in 2025
- Partnership with Mobileye to integrate Innoviz LiDARs into Mobileye Drive™ platform
- Optimization of Innoviz's perception software for the NVIDIA DRIVE AGX Orin platform
- Reported cash position of $68.0 million as of December 31, 2024
The company plans to implement operational optimization in H1 2025 to accelerate profitability and free cash flow generation. Investors can register for the conference call in advance, and a replay will be available in the Investors section of Innoviz's website for 90 days.
Innoviz Technologies (NASDAQ: INVZ), a Tier-1 supplier of automotive LiDAR sensors and perception software, announced operational optimization plans to accelerate its path to profitability. The company will implement realignment actions during H1 2025, reducing its workforce by 9% and expecting to save approximately $12 million in annual cash outlays.
The optimization involves de-emphasizing mature development segments while maintaining focus on core operations. This follows recent collaborations with Mobileye and Nvidia, demonstrating the company's progress in developing solutions meeting OEM requirements. Cash savings are expected to begin in Q1 2025, with full run-rate savings achieved by Q2 2025. The company maintains its target for start of production in 2026, with minimal cash costs associated with these strategic actions.
Innoviz Technologies (Nasdaq: INVZ), a Tier-1 supplier of automotive LiDAR sensors and perception software, has announced new technological developments to be showcased at CES 2025. The company is demonstrating its perception software running on the NVIDIA DRIVE AGX Orin platform, featuring software-driven capabilities for autonomous driving applications.
The collaboration with NVIDIA marks a significant advancement in AI-enabled perception systems. Innoviz's software, optimized for the NVIDIA DRIVE Orin platform, enables real-time processing and advanced environmental understanding, offering enhanced object detection, classification, and tracking capabilities for autonomous driving and ADAS systems.
The company will conduct live demonstrations at CES 2025 (West Hall, booth #4216), showcasing the integration of their LiDAR technology with NVIDIA's platform. The solution aims to support automakers in scaling from L2+ ADAS to fully autonomous vehicles.
Innoviz Technologies (Nasdaq: INVZ), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received formal confirmation from Nasdaq after maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days from December 16 to December 30, 2024, meeting the January 27, 2025 deadline set in the initial notice dated July 30, 2024.
This development resolves the compliance issue raised by Nasdaq Listing Rule 5550(a)(2), and the matter has been officially closed by Nasdaq Listing Qualifications Staff.
Innoviz Technologies (NASDAQ: INVZ), a Tier-1 supplier of automotive LiDAR sensors, has announced a multi-year Non-Recurring Engineering (NRE) services payment plan worth approximately $80 million with key existing customers. The payments are scheduled between 2025-2027, with over $40 million expected in 2025.
These NRE payments will be additional to revenues from ongoing LiDAR product sales and new programs. The company views this as strategic funding for operations and preparation for customer production starts in 2026. The financial details for 2024 and 2025 guidance will be disclosed during the Q4 2024 earnings call.
Innoviz Technologies (NASDAQ: INVZ) has announced its participation in CES 2025, showcasing its latest automotive LiDAR technology. The company will display the BMW i7 and Volkswagen ID. Buzz vehicles equipped with Innoviz LiDARs at LVCC, West Hall booth #4216. The BMW i7 features L3 autonomous driving capabilities with InnovizOne LiDAR, while the VW ID. Buzz incorporates InnovizTwo LiDARs for L4 autonomous navigation.
Following a recent partnership with Mobileye, Innoviz LiDARs will be integrated into the Mobileye Drive™ autonomous vehicle platform. The company will also demonstrate its new InnovizTwo Short-Range LiDAR, designed for commercial vehicles, shuttles, robotaxis, and trucks. Visitors can experience live demonstrations and pre-scheduled test drives to showcase the technology's real-world performance.
Mobileye (MBLY) and Innoviz Technologies (INVZ) have announced a partnership where Mobileye will integrate Innoviz LiDARs into its Mobileye Drive™ autonomous vehicle platform. The platform has been adopted by major vehicle producers including VW Commercial Vehicles, Schaeffler/VDL, Holon, and Verne.
The integration will enhance the platform's autonomous driving capabilities by combining Innoviz's LiDAR technology with Mobileye's imaging radars and high-resolution cameras. The collaboration aims to enable safer and more efficient autonomous transportation, with Start of Production scheduled for 2026.
Innoviz's InnovizTwo product platform, specifically engineered for Mobileye Drive™, will provide a complete set of LiDARs for L4 autonomous driving, designed to navigate complex urban environments.
Innoviz Technologies reported Q3 2024 revenue of $4.5 million, up from $3.5 million in Q3 2023. The company secured two new OEM programs through a Level 4 platform partnership, with expected Start of Production in 2026. Each autonomous vehicle will integrate nine InnovizTwo LiDARs. Cash used in operations decreased to $17.7 million from $28.6 million year-over-year. The company maintains its 2024 revenue guidance of $23.5-25 million and targets $20-70 million in new NRE bookings. Innoviz continues to progress with Volkswagen Group programs and advances RFQs with several top ten OEMs.
Innoviz Technologies (NASDAQ: INVZ), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has scheduled its Q3 2024 earnings conference call for Wednesday, November 13, 2024, at 9:00 a.m. ET. The company will release its financial results for the quarter ended September 30, 2024, before market opens on the same day. The call will include a Q&A session for investors, and a webinar replay will be available in the Investors section of Innoviz's website for 90 days.
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