Innoviz Technologies Ltd. Ordinary shares - INVZ STOCK NEWS

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.

Innoviz Technologies (NASDAQ: INVZ) reported Q2 2024 results, highlighting significant progress in its LiDAR business. Key points include:

1. Q2 revenues of $6.7 million, exceeding guidance of $4-$5 million and up from $1.5 million in Q2 2023.

2. Agreement with a major platform partner to supply InnovizTwo short- and long-range LiDARs for their Level 4 autonomous platform.

3. Expanded offering to include both short- and long-range LiDAR solutions as a bundle.

4. New program with The Indoor Lab to supply InnovizTwo LiDARs for use in multiple international airports.

5. Pipeline growth to over 15 programs, with increased interest in short-range LiDAR solutions.

6. Q3 2024 revenue guidance of $3.5-$5 million.

7. Reiterated FY 2024 targets to secure 2-3 additional customer programs and $20-70 million in new NRE bookings.

Innoviz Technologies (Nasdaq: INVZ) has entered a distribution agreement with The Indoor Lab to deploy InnovizTwo LiDARs across major US airports, starting with Denver, Tampa, and Nashville International airports. This collaboration aims to enhance passenger safety and operational efficiency using AI capabilities.

The Indoor Lab is shifting from cameras to LiDAR-based solutions, offering higher-quality and more accurate data for airport management. By utilizing InnovizTwo LiDARs with machine learning and AI, they can provide an accurate solution for identifying, classifying, and informing about potential challenges or threats in various airport areas.

This partnership will enable enhanced visibility and data analytics for airport partners, creating a safer and more efficient environment for travelers. The LiDAR technology allows AI-based perception systems to interpret what cameras and other RF-based sensors cannot, significantly improving safety across entry and exit points, tarmacs, baggage check, terminals, and runways.

Innoviz Technologies (Nasdaq: INVZ), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has received a non-compliance notice from Nasdaq due to its closing bid price falling below $1.00 per share for 30 consecutive business days. The company has been granted a 180-day grace period until January 27, 2025, to regain compliance with the minimum bid price requirement.

If Innoviz's closing bid price reaches $1.00 or higher for at least ten consecutive trading days during this period, it will regain compliance. Failure to meet this requirement may result in an additional 180-day grace period, subject to Nasdaq's determination. The company's shares will continue to trade on the Nasdaq Capital Market under the symbol 'INVZ' during this time.