Innoviz Technologies Ltd Stock Price, News & Analysis

Innoviz Technologies (NASDAQ: INVZ) announced a virtual workshop on January 3, 2022, at 11:00 am EST, hosted by CEO Omer Keilaf. The workshop will cover topics from a new white paper on LiDAR design for Level 3 automated vehicles, aiming to improve road safety. Key design aspects include field of view, resolution, detection range, and response to emergency situations. Innoviz's LiDAR technology is pivotal in enhancing automated driving systems and ensuring safer transportation. The white paper will be available on Innoviz's website post-event.

Innoviz Technologies (NASDAQ: INVZ) invites participants to a virtual workshop on January 3, 2022, at 11:00 am EST, hosted by Co-Founder and CEO Omer Keilaf. The workshop will present chapters from Keilaf's new white paper on LiDAR systems for Level 3 automated vehicles, highlighting essential design parameters for road safety. Innoviz aims to set industry standards through collaboration with automotive OEMs and Tier-1 suppliers to enhance safety in autonomous driving. The white paper will be accessible on Innoviz's website after the event.

Innoviz Technologies (Nasdaq: INVZ) collaborates with Obayashi Corporation, a top Japanese construction company, on a new automated tower crane system utilizing Innoviz's advanced LiDAR sensors. This partnership follows Obayashi's three years of product testing, leading to enhanced safety and efficiency at construction sites. The system's recognition software processes LiDAR data to provide real-time warnings to crane operators, resulting in significant cost savings. Innoviz's CEO expressed optimism about future partnerships and the applicability of their technology across various sectors.

Innoviz Technologies (Nasdaq: INVZ) has been selected to join a consortium aimed at developing standardized specifications and testing frameworks for automotive LiDAR sensors. This initiative, led by fka GmbH in Germany, includes various OEMs and Tier 1 suppliers. Innoviz's CEO, Omer Keilaf, emphasized the importance of redundancy in ensuring safety through rigorous testing. The project seeks to establish common guidelines for sensor performance, helping automotive manufacturers plan product development with reliable LiDAR quality.

Innoviz Technologies (Nasdaq: INVZ) reported its Q3 2021 results, achieving revenues of $2.1 million, a 106% increase from Q2 2021 and a 13% year-over-year rise. InnovizOne generated $1.6 million, making up 79% of total revenue. Operating expenses surged to $30 million, up from $16.8 million in Q3 2020, largely due to stock-based compensation and R&D investments. The company enhanced its automotive capabilities, marked by a successful Tier 1 supplier audit and partnerships with major firms like NVIDIA and JueFX, bolstering its position in the LiDAR market.

Innoviz Technologies (Nasdaq: INVZ) announced its advanced perception solution is now supported on the NVIDIA DRIVE platform, enhancing its LiDAR sensors and perception software for autonomous vehicles. This integration allows for improved object detection and tracking. Innoviz’s technology, known for exceeding automotive industry standards, is already selected by BMW for their autonomous car program. The Point Cloud API will also be available on the NVIDIA platform for developers by November 2021, positioning Innoviz as a key player in the autonomous vehicle sector.

Innoviz Technologies (Nasdaq: INVZ) announced a collaboration with JueFX, focusing on enhancing autonomous driving safety through the installation of InnovizOne LiDAR sensors on traffic infrastructure. The partnership aims to provide real-time traffic monitoring and data sharing to improve vehicle-to-everything (V2X) communications. As the V2X market is expected to grow significantly in China, Innoviz's participation positions it advantageously in a rapidly expanding sector. This initiative could enhance road safety and traffic efficiency, leveraging Innoviz's high-performance LiDAR technology.

Innoviz Technologies (Nasdaq: INVZ) addressed recent trading activity involving its shares, clarifying that a broker mistakenly offered significant volumes at unauthorized prices. The Company stated it is not aware of any undisclosed material changes affecting its business that could explain the decline in trading price. Innoviz, a leader in LiDAR technology for autonomous vehicles, is backed by major investors like BMW and SoftBank Ventures Asia.