Welcome to our dedicated page for Innoviz Technologies news (Ticker: INVZ), a resource for investors and traders seeking the latest updates and insights on Innoviz Technologies stock.
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) has partnered with EDOM Technology to enhance the distribution and support of Innoviz's LiDAR solutions in the Greater China region. This collaboration aims to leverage EDOM's extensive relationships and sales staff to boost adoption in the automotive market and other sectors such as security, agriculture, and robotics. The partnership strengthens Innoviz's presence in Asia, complementing existing ties with key suppliers like HiRain Technologies and Harman International. Innoviz is recognized for its advanced LiDAR technology, already in use by BMW.
Innoviz Technologies (Nasdaq: INVZ), a provider of solid-state LiDAR sensors, has partnered with SpringCloud, a leader in autonomous mobility services in South Korea. This partnership enables SpringCloud to distribute Innoviz's products across various sectors, enhancing their market presence. Innoviz's technology, already selected by BMW for their autonomous vehicle program, is positioned to meet the increasing demand for advanced mobility solutions. This collaboration aims to solidify both companies' roles in the evolving autonomous industry.
Innoviz Technologies (NASDAQ: INVZ) will participate virtually in the 2021 J.P. Morgan Automotive Conference on August 12 at 8:00 am ET. The event will include a live webcast, accessible for replay. Innoviz is renowned for its advanced LiDAR sensors and perception software, designed for autonomous vehicles. The company has been selected by BMW for its autonomous vehicle program. Interested parties can schedule one-on-one meetings or request further information through Innoviz's investor relations.
Innoviz Technologies (Nasdaq: INVZ) will announce its Q2 2021 financial results on August 11, 2021, before market open. A conference call will follow at 8:00 a.m. Eastern time to discuss the results. Investors can register for the webinar or join via phone with several dialing options available. The company is recognized for its high-performance LiDAR technology, recently selected by BMW for its autonomous vehicle initiative. This highlights Innoviz's position in the automotive industry, backed by strong partnerships with leading companies.
Innoviz Technologies (Nasdaq: INVZ) partners with Cron AI to enhance 3D perception through the InnovizOne LiDAR sensor and senseEDGE platform. Announced on June 8, 2021, the collaboration aims to improve intelligent transport, smart city applications, and security. Leveraging InnovizOne's dense point cloud capabilities, the partnership focuses on real-time data, boosting the efficiency of smart systems. Innoviz's CEO highlighted the partnership's potential to reduce costs and expedite market readiness for innovative applications.
Innoviz Technologies (Nasdaq: INVZ) has announced its participation in several virtual financial conferences throughout June 2021. Key events include:
- Needham Virtual Automotive Tech Conference on June 8
- UBS Global Industrials and Transportation Conference on June 9
- Deutsche Bank Global Auto Industry Conference on June 16
- Baird Autonomous Vehicle Webcast Series on June 16
- Goldman Sachs Digital Economy Conference on June 18
- Credit Suisse Mobility Start-up Forum on June 22
This engagement aims to enhance investor relations and showcase its LiDAR technology, crucial for autonomous vehicles.
Innoviz Technologies (Nasdaq: INVZ) has partnered with Sensagrate to integrate InnovizOne LiDAR sensors with Sensagrate's SensaVision software. This collaboration aims to enhance pedestrian and automobile safety and improve traffic flow in smart city environments. InnovizOne's high-resolution capabilities will enable accurate tracking of various road users and assist in accident analysis through predictive analytics. The partnership represents a significant advancement in urban planning, focusing on reducing congestion and fatalities while supporting the development of safer roadways.
Innoviz Technologies (NASDAQ: INVZ) has released its financial results for the first quarter of 2021. The company reported a revenue of $2 million, a significant increase from $1 million in the previous quarter. Despite the positive revenue growth, Innoviz reported a net loss of $10 million, consistent with prior periods. The company anticipates a strong demand for its LiDAR technology in the automotive sector and aims for a revenue projection of $15 million for Q2 2021. Innoviz also highlights its ongoing partnerships with leading automotive manufacturers.
Innoviz Technologies (NASDAQ: INVZ) was selected by a leading Tier-1 automotive supplier as the LiDAR provider for its autonomous shuttle program. The agreement, expected to generate hundreds of millions in revenue, involves InnovizOne solid-state LiDAR units that will facilitate level 4 autonomy for shuttles operational by the end of 2022. This selection follows a rigorous two-and-a-half-year evaluation of Innoviz's product reliability and manufacturing capabilities, marking a significant milestone for the company as it prepares for high-volume production.
Innoviz Technologies (Nasdaq: INVZ) announced its participation in Citi's Car of The Future Virtual Symposium on May 12, 2021. The management will present at 11:45 a.m. Eastern time and hold one-on-one meetings throughout the event. The fireside chat will be available for live webcast and replay. Innoviz is known for its high-performance LiDAR technology, crucial for autonomous vehicles, and has partnered with industry leaders like BMW. The company focuses on delivering superior safety and performance in its products.
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