Welcome to our dedicated page for Innoviz Technologies news (Ticker: INVZ), a resource for investors and traders seeking the latest updates and insights on Innoviz Technologies stock.
Innoviz Technologies Ltd. reports developments tied to automotive-grade LiDAR sensor platforms, perception software and Physical AI sensing applications. Company news commonly covers InnovizTwo, InnovizTwo Ultra Long-Range, InnovizSMART, InnovizSMARTer and InnovizThree, along with product launches, customer sampling, autonomous-vehicle integrations and commercial programs for automotive OEMs and other mobility platforms.
Updates also address expansion of LiDAR use cases beyond passenger vehicles, including security, traffic management, robotics, aerial, defense and homeland security applications. Recurring corporate news includes quarterly and annual results, non-recurring engineering services, LiDAR unit sales, shareholder communications and Nasdaq listing-status notices.
Innoviz Technologies Ltd. (Nasdaq: INVZ) reports significant progress in commercial traction, highlighted by its selection as Volkswagen's CARIAD's direct LiDAR supplier for automated vehicles. This Tier-1 supplier achievement validates Innoviz's high-performance LiDAR sensors and perception technology. The Volkswagen partnership includes the provision of InnovizTwo LiDAR sensors and perception software integrated with CARIAD's automated driving stack. Additionally, Innoviz emphasized its robust Tier-1 capabilities in mass production and quality.
Innoviz Technologies announced its selection by CARIAD SE to supply InnovizTwo LiDAR sensors and perception software for advanced driver assist systems (ADAS) in automated vehicles. This marks Innoviz's third design win with a major automaker and its first as a Tier-1 supplier. The deal increases Innoviz's forward-looking order book to $6.6 billion, indicating strong demand for its technology. CEO Omer Keilaf expressed enthusiasm about collaborating with CARIAD, aiming to enhance vehicle safety and support the industry's advancements.
Innoviz Technologies (NASDAQ: INVZ) will host a conference call and webinar on August 10, 2022, at 9:00 a.m. ET, to discuss its Q2 2022 operational and financial results for the quarter ending June 30. The results will be released prior to the call. Investors can register for the event, which will include a Q&A session, by following the provided link. A replay will be available on the company’s investor page for 90 days post-event. Innoviz is recognized for its solid-state LiDAR technology, enhancing safety in autonomous vehicles.
Innoviz Technologies (NASDAQ: INVZ) announced a collaboration with Japan Post to implement InnovizOne LiDAR sensors for constructing digital maps, enhancing next-generation services like autonomous driving and unmanned delivery. This initiative aims to improve logistics and smart city development in Japan. The smart cities market in Japan is projected to grow significantly, from nearly $45 million in 2021 to over $93 million by 2027. The partnership highlights Innoviz's technology capabilities and its strategic role in evolving urban landscapes.
Innoviz Technologies (NASDAQ: INVZ) has partnered with Joowon Industrial to enhance the sales of its LiDAR solutions in South Korea. This collaboration aims to leverage Joowon's TADS system, which can significantly reduce inspection costs for power distribution lines by approximately 80%. Innoviz's high-performance LiDAR technology will be integrated into Joowon's next-generation TADS to improve the efficiency and accuracy of inspections. The partnership emphasizes the importance of the Korean market for Innoviz and aims to establish a strong foothold in the region.
Innoviz has been selected to conduct a workshop on 3D perception in autonomous driving with NVIDIA at the European Conference on Computer Vision (ECCV), occurring from October 23-27, 2022 in Tel Aviv. This workshop aims to tackle challenges associated with processing large LiDAR datasets and will feature experts from prestigious organizations like MIT and Waymo. Innoviz's CEO, Omer Keilaf, emphasizes the significance of 3D perception for safe autonomous driving.
Innoviz (NASDAQ: INVZ) has partnered with Visionary.ai to integrate their imaging and LiDAR technologies. This collaboration aims to enhance 3D machine vision applications for robotics, smart cities, and drones, specifically in challenging conditions like low light and heavy rain. Visionary.ai's AI-driven True Night Vision technology combined with Innoviz's high-resolution LiDAR will create accurate 3D imaging. The press release highlights rapid market growth for Innoviz and a recent $4 billion increase in their forward-looking order book, driven by a major vehicle manufacturer's selection of Innoviz's LiDAR for production vehicles.
Innoviz Technologies (NASDAQ: INVZ) has announced key management appointments to enhance its sales leadership. Tali Chen is appointed as Chief Business Officer, succeeding Oren Rosenzweig, who steps down to pursue new opportunities. Chen, previously CBO at DSP Group, will manage business development and strategic sales plans. Additionally, Scott Craig and Brijesh Shukla are appointed as Country Managers for the U.S. and Japan, respectively. These appointments aim to support Innoviz's growth in the automotive sector and capitalize on recent multi-billion-dollar nominations with global manufacturers.
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.