Innoviz Technologies Ltd Financials
Innoviz Technologies Ltd (INVZ) reported $55.1M in revenue for fiscal year 2025, up 127.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A revenue step-up finally turned gross profit positive, but the business still runs on outside capital rather than operating cash.
FY2025 finally produced positive gross profit at23.4% , after a-4.8% gross margin in FY2024. But self-funding is still distant: the company used$47.9M in operating cash and ended with only$8.6M , so better unit economics have not yet become liquidity.
The narrower operating loss looks driven mainly by lower development spend: R&D fell from
Free cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Innoviz Technologies Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Innoviz Technologies Ltd scores -7.72, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($106.9M) relative to total liabilities ($60.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Innoviz Technologies Ltd passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Innoviz Technologies Ltd reported a net loss of $67.8M while operations used $47.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Innoviz Technologies Ltd generated $55.1M in revenue in fiscal year 2025. This represents an increase of 127.0% from the prior year.
Innoviz Technologies Ltd's EBITDA was -$61.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 34.3% from the prior year.
Innoviz Technologies Ltd reported -$67.8M in net income in fiscal year 2025. This represents an increase of 28.5% from the prior year.
Innoviz Technologies Ltd earned -$0.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 40.4% from the prior year.
Cash & Balance Sheet
Innoviz Technologies Ltd recorded an outflow of $52.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 35.9% from the prior year.
Innoviz Technologies Ltd held $8.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Innoviz Technologies Ltd's gross margin was 23.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 28.2 percentage points from the prior year.
Innoviz Technologies Ltd's ROE was -87.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 32.8 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Innoviz Technologies Ltd invested $56.5M in research and development in fiscal year 2025. This represents a decrease of 23.5% from the prior year.
Innoviz Technologies Ltd invested $4.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.7% from the prior year.
Not reported for fiscal year 2025.
INVZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $55.1M+127.0% | $24.3M+16.2% | $20.9M+246.4% | $6.0M+10.2% | $5.5M | N/A | $1.6M+2440.3% | $62K |
| Cost of Revenue | $42.2M+65.9% | $25.4M-21.7% | $32.5M+119.7% | $14.8M+41.0% | $10.5M+63.7% | $6.4M+222.6% | $2.0M+3647.2% | $53K |
| Gross Profit | $12.9M+1211.5% | -$1.2M+90.0% | -$11.6M-32.5% | -$8.8M-74.5% | -$5.0M+68.2% | -$15.8M-3737.2% | -$411K-4666.7% | $9K |
| R&D Expenses | $56.5M-23.5% | $73.8M-20.3% | $92.7M-2.6% | $95.1M+1.9% | $93.3M+63.7% | $57.0M-4.0% | $59.4M+22.9% | $48.3M |
| SG&A Expenses | $18.4M-5.4% | $19.5M-0.4% | $19.5M+1.9% | $19.2M-46.1% | $35.6M+847.5% | $3.8M+17.6% | $3.2M+30.7% | $2.4M |
| Operating Income | -$67.7M+33.5% | -$101.9M+23.1% | -$132.6M+0.6% | -$133.3M+15.4% | -$157.7M-92.3% | -$82.0M-18.0% | -$69.5M-23.5% | -$56.3M |
| Income Tax | $171K+2.4% | $167K-74.0% | $642K+97.5% | $325K+14.4% | $284K+55.2% | $183K+1730.0% | $10K-68.8% | $32K |
| Net Income | -$67.8M+28.5% | -$94.8M+23.2% | -$123.5M+2.7% | -$126.9M+17.4% | -$153.6M-88.4% | -$81.5M-21.1% | -$67.3M-19.3% | -$56.4M |
| EPS (Diluted) | -$0.34+40.4% | -$0.57+32.1% | -$0.84+10.6% | -$0.94+39.0% | -$1.54 | -$5.99 | N/A | N/A |
Not reported in any period shown, so not listed: Interest Expense.
INVZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $138.5M+4.8% | $132.0M-39.8% | $219.2M-14.2% | $255.4M-21.9% | $327.2M+351.0% | $72.6M-41.4% | $123.9M | N/A |
| Current Assets | $90.2M+9.2% | $82.6M-48.5% | $160.5M-14.4% | $187.6M-31.7% | $274.4M+373.8% | $57.9M-48.2% | $111.8M | N/A |
| Cash & Equivalents | $8.6M-65.9% | $25.4M-3.5% | $26.3M-52.8% | $55.7M+135.7% | $23.6M-52.7% | $50.0M-31.4% | $72.8M+292.3% | $18.6M |
| Inventory | $3.3M+75.5% | $1.9M+2.0% | $1.9M-55.9% | $4.2M-0.5% | $4.3M+96.7% | $2.2M+61.4% | $1.3M | N/A |
| Accounts Receivable | $10.0M+65.1% | $6.0M-18.3% | $7.4M+319.7% | $1.8M+243.5% | $513K-79.5% | $2.5M+145.4% | $1.0M | N/A |
| Total Liabilities | $60.7M+14.3% | $53.1M-19.4% | $65.9M+4.0% | $63.4M+123.2% | $28.4M-90.4% | $296.3M+9.9% | $269.6M | N/A |
| Current Liabilities | $31.4M+13.2% | $27.8M-25.4% | $37.2M+14.8% | $32.4M+49.7% | $21.7M+21.8% | $17.8M+21.1% | $14.7M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $2.2M-4.3% | $2.3M | N/A |
| Total Equity | $77.7M-1.5% | $78.9M-48.5% | $153.3M-20.2% | $192.0M-35.7% | $298.8M+233.5% | -$223.7M-53.6% | -$145.7M-80.7% | -$80.7M |
| Retained Earnings | -$797.8M-9.3% | -$730.0M-14.9% | -$635.3M-24.1% | -$511.8M-33.0% | -$385.0M-66.4% | -$231.4M-54.4% | -$149.9M | N/A |
Not reported in any period shown, so not listed: Goodwill.
INVZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$47.9M+37.7% | -$77.0M+17.3% | -$93.1M+0.4% | -$93.4M-13.2% | -$82.5M-33.2% | -$61.9M+10.5% | -$69.2M-75.8% | -$39.4M |
| Capital Expenditures | $4.3M-3.7% | $4.4M-32.9% | $6.6M-70.8% | $22.6M+496.4% | $3.8M-26.1% | $5.1M-12.5% | $5.8M-14.6% | $6.9M |
| Free Cash Flow | -$52.2M+35.9% | -$81.4M+18.3% | -$99.6M+14.1% | -$116.0M-34.4% | -$86.3M-28.7% | -$67.1M+10.7% | -$75.1M-62.4% | -$46.2M |
| Investing Cash Flow | -$21.4M-128.3% | $75.5M+6992.9% | $1.1M-99.2% | $125.4M+144.5% | -$281.6M-1051.6% | $29.6M+172.9% | -$40.6M-201.0% | $40.2M |
| Financing Cash Flow | $51.5M+22875.4% | $224K-99.6% | $61.9M+10057.0% | $609K-99.8% | $337.2M+3671.1% | $8.9M-94.5% | $163.1M+27361.6% | $594K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
INVZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.4%+28.2pp | -4.8%+50.9pp | -55.6% | -145.4% | -91.9% | N/A | -26.1%-40.6pp | 14.5% |
| Operating Margin | -123.0% | -420.0% | -635.2% | -2212.9% | -2884.3% | N/A | -4410.0% | -90743.6% |
| Net Margin | -123.1% | -390.5% | -591.4% | -2105.4% | -2809.3% | N/A | -4273.1% | -90967.7% |
| Return on Equity | -87.2%+32.8pp | -120.0%-39.5pp | -80.5%-14.5pp | -66.1%-14.7pp | -51.4% | N/A | N/A | N/A |
| Return on Assets | -49.0%+22.8pp | -71.8%-15.4pp | -56.3%-6.6pp | -49.7%-2.7pp | -46.9%+65.4pp | -112.3%-58.0pp | -54.3% | N/A |
| Current Ratio | 2.87-0.1x | 2.98-1.3x | 4.31-1.5x | 5.78-6.9x | 12.67+9.4x | 3.25-4.4x | 7.61 | N/A |
| Debt-to-Equity | 0.78+0.1x | 0.67+0.2x | 0.43+0.1x | 0.33+0.3x | 0.00 | N/A | N/A | N/A |
| FCF Margin | -94.7% | -335.3% | -477.3% | -1924.6% | -1579.0% | N/A | -4766.7% | -74567.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Innoviz Technologies Ltd Ranks
Frequently Asked Questions
What is Innoviz Technologies Ltd's annual revenue?
Innoviz Technologies Ltd (INVZ) reported $55.1M in total revenue for fiscal year 2025. This represents a 127.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Innoviz Technologies Ltd's revenue growing?
Innoviz Technologies Ltd (INVZ) revenue grew by 127.0% year-over-year, from $24.3M to $55.1M in fiscal year 2025.
Is Innoviz Technologies Ltd profitable?
No, Innoviz Technologies Ltd (INVZ) reported a net income of -$67.8M in fiscal year 2025.
What is Innoviz Technologies Ltd's EBITDA?
Innoviz Technologies Ltd (INVZ) had EBITDA of -$61.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Innoviz Technologies Ltd's gross margin?
Innoviz Technologies Ltd (INVZ) had a gross margin of 23.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Innoviz Technologies Ltd's return on equity (ROE)?
Innoviz Technologies Ltd (INVZ) has a return on equity of -87.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Innoviz Technologies Ltd's free cash flow?
Innoviz Technologies Ltd (INVZ) recorded an outflow of $52.2M in free cash flow during fiscal year 2025. This represents a 35.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Innoviz Technologies Ltd's operating cash flow?
Innoviz Technologies Ltd (INVZ) recorded an outflow of $47.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Innoviz Technologies Ltd's total assets?
Innoviz Technologies Ltd (INVZ) had $138.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Innoviz Technologies Ltd's capital expenditures?
Innoviz Technologies Ltd (INVZ) invested $4.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Innoviz Technologies Ltd spend on research and development?
Innoviz Technologies Ltd (INVZ) invested $56.5M in research and development during fiscal year 2025.
What is Innoviz Technologies Ltd's current ratio?
Innoviz Technologies Ltd (INVZ) had a current ratio of 2.87 as of fiscal year 2025, which is generally considered healthy.
What is Innoviz Technologies Ltd's debt-to-equity ratio?
Innoviz Technologies Ltd (INVZ) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Innoviz Technologies Ltd's return on assets (ROA)?
Innoviz Technologies Ltd (INVZ) had a return on assets of -49.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Innoviz Technologies Ltd's cash runway?
Based on fiscal year 2025 data, Innoviz Technologies Ltd (INVZ) had $8.6M in cash against an annual operating cash burn of $47.9M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Innoviz Technologies Ltd's Altman Z-Score?
Innoviz Technologies Ltd (INVZ) has an Altman Z-Score of -7.72, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Innoviz Technologies Ltd's Piotroski F-Score?
Innoviz Technologies Ltd (INVZ) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Innoviz Technologies Ltd's earnings high quality?
Innoviz Technologies Ltd (INVZ) reported a net loss of $67.8M while operations used $47.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Innoviz Technologies Ltd?
Innoviz Technologies Ltd (INVZ) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.