Welcome to our dedicated page for Innoviz Technologies Ltd. Ordinary shares news (Ticker: INVZ), a resource for investors and traders seeking the latest updates and insights on Innoviz Technologies Ltd. Ordinary shares 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 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.
Innoviz Technologies (Nasdaq: INVZ) has announced a partnership with Vueron Technology to develop a LiDAR-only autonomous driving platform. This collaboration follows Vueron's recent achievement of a self-driving permit from the South Korean government, allowing a historic automated drive from Seoul to Busan. Innoviz's LiDAR technology, recognized for its high performance, will be integrated with Vueron's advanced perception software, paving the way for enhanced autonomous vehicle capabilities. The partnership aims to leverage both companies' strengths to advance safety and reliability in autonomous driving.
Innoviz Technologies (Nasdaq: INVZ) announced it will release its Q1 2021 financial results on May 12, 2021, before the market opens. A conference call and webinar to discuss these results will take place on the same day at 8:00 a.m. Eastern time (5:00 a.m. Pacific time). Interested parties can register for the webinar here. Following the call, a replay will be available on the Investors section of Innoviz's website for 90 days.
Innoviz Technologies Ltd. (Nasdaq: INVZ) announced the filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2020. The report highlights the company's progress in high-performance solid-state LiDAR sensors and perception software. Interested parties can access the report on Innoviz's investor relations website or the SEC's website. Innoviz is recognized for its advanced LiDAR technology, selected by BMW for its fully electric autonomous vehicle project, and is supported by notable investors such as SoftBank Ventures and Samsung.
Innoviz Technologies (Nasdaq: INVZ) announced the launch of its InnovizTwo LiDAR sensor, boasting a 30x performance improvement over its predecessor, InnovizOne, and a significant 70% cost reduction. The InnovizTwo, designed for automakers and autonomous vehicles, offers enhanced visual performance, a 125x40 degree Field of View, and a detection range of 300m. Full production is expected in 2022 with annual output projected between 500,000 and 1,000,000 units by 2024. This development underscores Innoviz's commitment to advancing safe autonomous driving technologies.
Innoviz Technologies Ltd. (Nasdaq: INVZ) has appointed six new members to its board of directors, enhancing its leadership team following its merger with Collective Growth Corporation (formerly Nasdaq: CGRO) on April 5, 2021. The new board members bring extensive experience from the technology and automotive sectors, including former executives from Orbotech and Apple. CEO Omer Keilaf expressed confidence that this leadership will drive shareholder value and facilitate Innoviz's transition to a public company, focusing on high-performance LiDAR technology for autonomous vehicles.
Innoviz Technologies Ltd. (Nasdaq: INVZ) has appointed six new members to its board of directors, enhancing its leadership following the merger with Collective Growth Corporation (formerly CGRO) on April 5, 2021. The new board members include experienced executives from the technology and automotive sectors, with roles held in notable companies like Orbotech and Apple. This move aims to support Innoviz's growth in the LiDAR market and drive shareholder value as it prepares for high-volume production and deployment of its technology, previously selected by BMW for its autonomous vehicles.
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