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Innoviz Technologies (Nasdaq: INVZ) successfully completed an 18-day winter test showcasing the robustness of its InnovizTwo LiDAR and Perception Software. The test spanned ten countries, demonstrating effective performance in extreme conditions. The company received TÜV SÜD Certification Mark for Roof Racks, a significant industry benchmark. Innoviz aims to enhance its AI-backed software and hardware solutions for advanced autonomous driving, with a projected increase in global LiDAR scanner sales by 2035.
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Innoviz Technologies (NASDAQ: INVZ) has scheduled its first quarter 2024 conference call for May 8 at 9:00 a.m. ET to discuss operational and financial results. The company will release its earnings for the first quarter ended March 31, 2024 before the market opens. Investors can register in advance to attend the webinar and access relevant information. A replay will be available on the company's website for 90 days.
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Innoviz Technologies Ltd. exceeded revenue guidance in 2023 with $21M, showing 246% YoY growth. Q4 2023 revenues of $15M exceeded guidance with 328% growth QoQ and 846% YoY. The company reported a record low cash burn of $14.5M, ending 2023 with $150M in cash. Innoviz provided commercial updates on partnerships with BMW and Volkswagen, highlighting growth opportunities. Financially, operating expenses decreased in 2023, while revenues surged. The company set ambitious 2024 targets for customer programs and NRE bookings.
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Innoviz Technologies Ltd. (Nasdaq: INVZ) has achieved the IATF 16949:2016 certification, a testament to the company's dedication to maintaining exceptional quality and standards in the automotive industry. This milestone reflects the company's relentless pursuit of excellence, stringent quality control measures, and continuous improvement initiatives. The achievement also includes ISO 14001:2015 and ISO 45001:2018 certifications, further solidifying Innoviz's position as a Tier-1 supplier within the automotive industry.
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3.9%
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Innoviz Technologies Ltd. (Nasdaq: INVZ) announced a strategic realignment to reduce cash outlays by $22-24 million annually, primarily through transitioning the InnovizOne program to series production and concentrating future investments on the InnovizTwo sensor and perception software suite. The realignment is expected to reduce headcount by 13% and optimize the company's path towards profitability and free cash flow generation. Innoviz plans to achieve cash savings starting in the first quarter of 2024, with run rate savings expected by the end of the second quarter of 2024.
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Innoviz Technologies Ltd. (INVZ) is set to release its earnings results for the fourth quarter and full year ended December 31, 2023, on February 28, 2024. The company will host a conference call and webinar to discuss its operational and financial results, followed by a Q&A session for the investment community. Investors can register in advance to attend, and a replay of the webinar will be available on the company's website for 90 days.
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Innoviz Technologies Ltd. (Nasdaq: INVZ) announces participation in CES 2024, showcasing BMW i7 and Volkswagen ID. Buzz integrated with its LiDAR technology. The BMW i7 with level 3 autonomous driving capabilities enabled by the InnovizOne LiDAR is now available to order in Germany. The VW ID. Buzz is the light commercial vehicle program utilizing InnovizTwo LiDAR for level 4 autonomous capabilities. Innoviz was recently named a CES 2024 Innovation Awards Honoree for its InnovizCore all-new Compute Module integrating AI, deep learning, and computer processing.
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Innoviz Technologies Ltd. (Nasdaq: INVZ) announces the addition of two new board members, Stefan Jacoby and Alexander von Witzleben, bringing extensive CEO-level experience from leading automotive companies. The company aims to leverage their expertise to become a market leader in automotive LiDAR technology in 2024 and beyond.
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Innoviz Technologies Ltd. (Nasdaq: INVZ) announces its participation in upcoming investor conferences including Barclays Global Automotive and Mobility Tech Conference and Goldman Sachs 15th Annual Global Automotive Conference.
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Innoviz Technologies Ltd. (Nasdaq: INVZ) has been named a CES® 2024 Innovation Awards Honoree for the all-new InnovizCore, competing for the 'Best of Innovation' distinction. The InnovizCore is a compute module for autonomous vehicles, integrating AI, deep learning, and computer processing to ensure safe driving. It includes a powerful system-on-a-chip (SoC) processor for executing computer vision algorithms and LiDAR-based Minimal Risk Maneuver (MRM) software, bringing precise 3D imaging to safety-critical applications.
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Innoviz Technologies Ltd. Ordinary shares
Nasdaq:INVZ
INVZ Rankings
INVZ Stock Data
185.74M
152.05M
2.05%
42.28%
7.8%
Motor Vehicle Body Manufacturing
Manufacturing
United States of America
Rosh Haayin
About INVZ
enabling the autonomous car revolution innoviz is a leading provider of cutting-edge lidar remote sensing solutions to enable the mass commercialization of autonomous vehicles. the company’s lidar products, innovizone™ and innovizpro™, offer solid-state design that uses proprietary technology to deliver superior performance at the cost and size required for mass market adoption. headquartered in israel, the company was founded in january 2016 by former members of the elite technological unit of the israeli defense forces with renowned expertise in the fields of electro-optics, computer vision, mems design and signal processing. innoviz is backed by strategic partners and top-tier investors throughout the world. for more information, visit www.innoviz.tech.