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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) partners with LOXO to equip zero-emission autonomous delivery vehicles with InnovizOne LiDAR sensors. The collaboration aims to enhance delivery efficiency and reduce emissions in Switzerland. LOXO plans to showcase its autonomous vehicles at the CES on January 7, 2023. Following an evaluation period, LOXO will increase orders for InnovizOne to support its fleet. The autonomous last-mile delivery market is projected to grow from USD 57.67 billion in 2021 to USD 68.95 billion by 2028, highlighting the potential impact of this partnership.
Innoviz Technologies (NASDAQ: INVZ) will showcase its InnovizOne LiDAR technology at CES 2023 from January 5-8 in Las Vegas, Nevada. The company will conduct live demonstrations and partner presentations at booth #6553, focusing on non-automotive applications such as smart cities and industrial uses. Global partners like Sensagrate and Whale Dynamics will highlight their innovative projects leveraging Innoviz's LiDAR systems. CEO Omer Keilaf expressed excitement about demonstrating the technology's versatility across various sectors.
Innoviz Technologies (Nasdaq: INVZ) has partnered with Outsight to integrate Innoviz's high-performance LiDAR, InnovizOne, with Outsight's processing software. This collaboration aims to enhance 3D localization and perception technologies across various applications, including smart infrastructure and industrial uses. The partnership targets sectors like intelligent transportation systems and commercial vehicle robotics. Outsight's software simplifies LiDAR technology integration, promoting broader adoption beyond automotive markets. Demonstrations of their collaboration will occur at CES 2023.
Innoviz Technologies Ltd. (NASDAQ: INVZ) announced its participation in several investor conferences. These include the Barclays Global Automotive and Mobility Tech Conference on November 30, 2022, the Goldman Sachs 14th Annual Global Automotive Conference on December 8, 2022, and the J.P. Morgan Tech/Auto Forum on January 5, 2023. Innoviz's management will engage with investors through discussions and meetings at these events.
Innoviz announced a significant milestone with a new customer acquisition in Asia, enhancing its global presence in the autonomous driving sector. This partnership brings on board another leading platform, positioning Innoviz to capitalize on the growing demand for autonomous vehicle technologies.
The expansion not only diversifies the company's market reach but also potentially increases its revenue streams as it aligns with the industry's rapid technological advancements.
Innoviz Technologies, a leader in LiDAR technology, is set to host its inaugural Global Distributor Summit from November 14-17, 2022, at its new headquarters in Israel. This event aims to enhance the production of InnovizOne, a high-performance LiDAR sensor, to meet the growing demand from both automotive and non-automotive sectors. Participants from regions including Europe, North America, Japan, Taiwan, and Korea will engage in strategic sessions to promote InnovizOne's integration into various applications.
Innoviz Technologies (Nasdaq: INVZ) announced a partnership with Kudan on October 26, 2022, to enhance 3D digital mapping solutions using LiDAR technology. This collaboration focuses on utilizing Kudan's SLAM software for accurate 3D point cloud generation, essential for autonomous mobility and real-time environmental perception. Innoviz's LiDARs operate up to 250 meters and are resilient to various conditions. The partnership aims at applications across multiple sectors, including automotive, robotics, and surveying, leveraging both companies' global networks for enhanced market presence.
Innoviz Technologies (NASDAQ: INVZ) will release its third quarter earnings results for the period ending September 30, 2022, on November 9, 2022, before market opening. The company will host a conference call at 9:00 a.m. ET on the same day to discuss financial results and operational performance, followed by a Q&A session. Interested investors can register for the event in advance, and a replay will be available on Innoviz's website for 90 days after the call.
Innoviz Technologies Ltd. (NASDAQ: INVZ) announced the filing of a universal shelf registration statement on Form F-3 with the SEC, allowing the potential sale of up to $200 million in common stock, debt securities, and more. While there are no immediate plans for offering securities, the filing is a standard procedure to address future strategic needs. The registration has not yet become effective, meaning no sales can occur until then. Innoviz aims to strengthen its position in the competitive LiDAR technology market, focusing on safe autonomous vehicle solutions.
Innoviz Technologies (Nasdaq: INVZ) has partnered with Sensagrate to launch a smart intersection corridor pilot at UCLA, integrating InnovizOne LiDAR with SensaVision for enhanced traffic analytics. This collaboration aims to improve pedestrian and driver safety through accurate data collection and real-time traffic monitoring. The pilot will also be expanded to cities in Arizona, such as Phoenix, Scottsdale, and Tucson, to address smart city challenges. Innoviz’s LiDAR technology is noted for its durability and compliance with privacy laws, making it suitable for smart city applications.
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