Innoviz Technologies Ltd
NASDAQ:INVZ
Innoviz Technologies Ltd
Innoviz Technologies Ltd. is a manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. The company acts as a supplier of high-performance LiDAR semiconductor sensors and perception software that provide vision in the automotive, drones, robotics, mapping and more industries that enable the mass production of autonomous vehicles.
Innoviz Technologies Ltd. is a manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. The company acts as a supplier of high-performance LiDAR semiconductor sensors and perception software that provide vision in the automotive, drones, robotics, mapping and more industries that enable the mass production of autonomous vehicles.
Revenue Growth: Innoviz reported Q3 revenue of $15.3 million, a 238% year-over-year increase, with year-to-date revenue at $42.4 million, 2.3 times higher than last year.
2025 Guidance: Management reaffirmed full-year 2025 revenue guidance of $50–60 million, expecting more than a twofold annual increase.
Major Win: Innoviz was selected by a major commercial vehicle OEM for Level 4 autonomous truck production, marking a milestone for the company.
Product Ramp: Shipment of LiDAR units grew by an order of magnitude compared to the previous quarter, reflecting successful production ramp at Fabrinet.
Profitability Drivers: Gross margin for Q3 was about 15%; cash burn was $14 million for the quarter and is expected to decline sequentially.
InnovizThree Launched: The company unveiled its next-generation LiDAR, InnovizThree, promising better cost structure, smaller form factor, and improved performance.
Competitive Landscape: Management noted fewer competitors meeting OEM requirements, seeing a "winner takes more" scenario developing in the automotive LiDAR market.
Nonautomotive Momentum: InnovizSMART is gaining traction in perimeter security and other applications, with customers showing interest in replacing legacy solutions.
