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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) announced its Q1 2022 financial results, reporting significant progress in solid-state LiDAR technology. Revenue reached $2.1 million, up from $1.4 million in Q1 2021, demonstrating a 50% year-over-year increase. The company maintains strong demand for its products, with a backlog of customer orders and partnerships in place. Innoviz has raised its full-year guidance, anticipating annual revenue between $10 million and $12 million. The company's innovative solutions continue to position it as a key player in the automotive and tech sectors.
Innoviz Technologies announced that a major global vehicle manufacturer has selected it as a direct supplier of its InnovizTwo LiDAR sensor and perception software, marking its third significant design win. This decision is expected to boost Innoviz's forward-looking order book by $4 billion to $6.6 billion. The CEO expressed expectations for further growth as more car brands adopt the platform. Innoviz is set to provide more details during its quarterly earnings call on May 11.
Innoviz Technologies (NASDAQ: INVZ) will hold a conference call and webinar on May 11, 2022, at 9:00 a.m. ET to discuss its first-quarter financial results for the period ending March 31, 2022. A press release with operational and financial results will precede the call. Investors can register for the event via a provided link, and a replay will be available on the company's investor relations site for 90 days. Innoviz is recognized for its high-performance LiDAR technology aimed at enhancing autonomous vehicle safety.
Innoviz Technologies (Nasdaq: INVZ) has partnered with LiangDao Intelligence to accelerate the introduction of high-resolution LiDAR solutions for the Chinese automotive market. This collaboration aims to customize Innoviz's LiDAR offerings, specifically the InnovizTwo model, enhance perception solutions, and streamline data collection. LiangDao's expertise, including past projects with Audi and solid-state LiDAR systems, complements Innoviz's technological capabilities. The partnership represents a significant step toward meeting the growing demand for autonomous driving solutions in China.
Innoviz Technologies Ltd. (Nasdaq: INVZ) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC. This report is accessible through Innoviz's investor relations website and the SEC's platform. Innoviz is a leader in LiDAR technology, specializing in the development of high-performance sensors and perception software for autonomous vehicles, aiming to enhance safety and performance in the automotive industry. It serves clients in the U.S., Europe, and Asia, including a premium car brand.
Innoviz Technologies (Nasdaq: INVZ) announced its selection of BlackBerry QNX Automotive Operating System for its LiDAR sensors, InnovizOne and InnovizTwo. This collaboration aims to enhance safety and reliability in automotive applications. BlackBerry QNX is designed for safety-critical embedded systems, facilitating high-performance LiDAR solutions. Innoviz emphasizes the importance of safety in the development of its products. Omer Keilaf, CEO, expressed excitement for continued collaboration to innovate in vehicle safety. Both companies aim to push advancements in LiDAR technology for autonomous vehicles.
Innoviz Technologies (NASDAQ: INVZ) reported its fourth-quarter and full-year results for 2021, highlighting significant operational progress and increased commercial traction. The company achieved a design freeze for its InnovizOne LiDAR product and is advancing towards production readiness. Innoviz secured eight pre-production programs with major automotive manufacturers, showcasing its growth potential. Management updates indicate optimism for 2022, with advanced negotiations for several serial production programs. The company's strategic initiatives aim to capture market share in the automotive sector and beyond.
Innoviz Technologies (Nasdaq: INVZ) will hold a conference call and webinar on March 2, 2022, at 9:00 AM ET to discuss its operational and financial results for the fourth quarter and full year ending December 31, 2021. A press release with the results will be issued prior to the call. Investors can register for the Zoom conference and a replay will be available on Innoviz's website for 90 days. Innoviz is a leader in LiDAR technology, aiming to enhance safety in autonomous vehicles globally.
Innoviz Technologies (Nasdaq: INVZ) announced its compliance with IATF 16949:2016 automotive standard, marking a significant milestone in its manufacturing capabilities. This certification recognizes Innoviz's automated manufacturing processes, which ensures quality management in the production of its advanced LiDAR technology.
As a result, Innoviz is positioned favorably for collaborations with Tier-1 automotive suppliers and manufacturers, enhancing its competitiveness in the autonomous vehicle market.
Innoviz Technologies (Nasdaq: INVZ) has announced a partnership with Twinner, a vehicle scanner provider, to enhance vehicle inspection capabilities using InnovizOne LiDAR technology. The collaboration aims to integrate this solid-state LiDAR with Twinner's Digital Twinn platform, enabling a comprehensive 360-degree view of vehicles. This integration is expected to improve defect identification, enhance transparency in vehicle conditions, and support better investment decisions for various stakeholders in the automotive industry. The partnership aligns with growing digital technologies transforming car sales.
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