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 has been selected by a leading Asia-based automotive OEM as a direct supplier of its InnovizTwo LiDAR sensor for series production of passenger vehicles. This marks Innoviz's fourth major design win and aims to support full L3 automation in vehicles. The partnership is projected to generate revenue in fiscal year 2024. This selection follows a recent collaboration with Volkswagen to integrate Innoviz's technology into their vehicles, showcasing Innoviz's growth as a Tier 1 supplier.
Innoviz Technologies has partnered with HiRain Technologies to deploy InnovizOne LiDAR sensors across ports in China. The initial deployment at RiZhao port aims to enhance operational efficiency and safety using autonomous vehicles and Vehicle to Anything (V2X) applications. The combined technology will mitigate risks and improve worker safety through precise environmental monitoring. HiRain plans to integrate Innoviz's next-generation sensor, InnovizTwo, for further advancements. This collaboration comes amid global supply chain challenges and highlights the increasing relevance of LiDAR technology.
Innoviz Technologies Ltd. (Nasdaq: INVZ) reports significant progress in commercial traction, highlighted by its selection as Volkswagen's CARIAD's direct LiDAR supplier for automated vehicles. This Tier-1 supplier achievement validates Innoviz's high-performance LiDAR sensors and perception technology. The Volkswagen partnership includes the provision of InnovizTwo LiDAR sensors and perception software integrated with CARIAD's automated driving stack. Additionally, Innoviz emphasized its robust Tier-1 capabilities in mass production and quality.
Innoviz Technologies announced its selection by CARIAD SE to supply InnovizTwo LiDAR sensors and perception software for advanced driver assist systems (ADAS) in automated vehicles. This marks Innoviz's third design win with a major automaker and its first as a Tier-1 supplier. The deal increases Innoviz's forward-looking order book to $6.6 billion, indicating strong demand for its technology. CEO Omer Keilaf expressed enthusiasm about collaborating with CARIAD, aiming to enhance vehicle safety and support the industry's advancements.
Innoviz Technologies (NASDAQ: INVZ) will host a conference call and webinar on August 10, 2022, at 9:00 a.m. ET, to discuss its Q2 2022 operational and financial results for the quarter ending June 30. The results will be released prior to the call. Investors can register for the event, which will include a Q&A session, by following the provided link. A replay will be available on the company’s investor page for 90 days post-event. Innoviz is recognized for its solid-state LiDAR technology, enhancing safety in autonomous vehicles.
Innoviz Technologies (NASDAQ: INVZ) announced a collaboration with Japan Post to implement InnovizOne LiDAR sensors for constructing digital maps, enhancing next-generation services like autonomous driving and unmanned delivery. This initiative aims to improve logistics and smart city development in Japan. The smart cities market in Japan is projected to grow significantly, from nearly $45 million in 2021 to over $93 million by 2027. The partnership highlights Innoviz's technology capabilities and its strategic role in evolving urban landscapes.
Innoviz Technologies (NASDAQ: INVZ) has partnered with Joowon Industrial to enhance the sales of its LiDAR solutions in South Korea. This collaboration aims to leverage Joowon's TADS system, which can significantly reduce inspection costs for power distribution lines by approximately 80%. Innoviz's high-performance LiDAR technology will be integrated into Joowon's next-generation TADS to improve the efficiency and accuracy of inspections. The partnership emphasizes the importance of the Korean market for Innoviz and aims to establish a strong foothold in the region.
Innoviz has been selected to conduct a workshop on 3D perception in autonomous driving with NVIDIA at the European Conference on Computer Vision (ECCV), occurring from October 23-27, 2022 in Tel Aviv. This workshop aims to tackle challenges associated with processing large LiDAR datasets and will feature experts from prestigious organizations like MIT and Waymo. Innoviz's CEO, Omer Keilaf, emphasizes the significance of 3D perception for safe autonomous driving.
Innoviz (NASDAQ: INVZ) has partnered with Visionary.ai to integrate their imaging and LiDAR technologies. This collaboration aims to enhance 3D machine vision applications for robotics, smart cities, and drones, specifically in challenging conditions like low light and heavy rain. Visionary.ai's AI-driven True Night Vision technology combined with Innoviz's high-resolution LiDAR will create accurate 3D imaging. The press release highlights rapid market growth for Innoviz and a recent $4 billion increase in their forward-looking order book, driven by a major vehicle manufacturer's selection of Innoviz's LiDAR for production vehicles.
Innoviz Technologies (NASDAQ: INVZ) has announced key management appointments to enhance its sales leadership. Tali Chen is appointed as Chief Business Officer, succeeding Oren Rosenzweig, who steps down to pursue new opportunities. Chen, previously CBO at DSP Group, will manage business development and strategic sales plans. Additionally, Scott Craig and Brijesh Shukla are appointed as Country Managers for the U.S. and Japan, respectively. These appointments aim to support Innoviz's growth in the automotive sector and capitalize on recent multi-billion-dollar nominations with global manufacturers.