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 (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.
Innoviz Technologies (Nasdaq: INVZ) will host a conference call and webinar on November 10, 2021, at 9:00 a.m. ET to discuss its operational and financial results for Q3 2021, which ended on September 30, 2021. A press release with results will precede the call. The event, hosted from New York City, will include a Q&A session. Interested parties can register in advance or join via phone. Innoviz is known for its high-performance LiDAR technology used in autonomous vehicles, notably selected by BMW for its iX program.
Innoviz Technologies has announced its conference schedule for September 2021 and will host an open house on October 6, 2021. The Cowen Global Transportation and Sustainable Mobility Conference will feature a fireside chat on September 10. A series of one-on-one meetings is set for the Citi Small/Mid-Cap & Growth Conference on September 17. The Evercore ISI AutoTech & AI Forum will occur on September 22 and the Jefferies Israel Innovation Summit on September 30. Innoviz’s LiDAR technology is crucial for autonomous vehicles, notably selected by BMW.
Innoviz Technologies (Nasdaq: INVZ) is set to showcase its cutting-edge LiDAR technology at the IAA MOBILITY 2021 show in Munich, Germany, from September 7-12, 2021. The demonstration will feature the InnovizOne sensor, selected by BMW for its autonomous vehicle program. Innoviz's partners OSRAM and Webasto will also present related innovations, including a Roof Sensor Module. This event gathers over 1,000 exhibitors and is a significant platform for showcasing advancements in the future of transportation.
Innoviz Technologies (Nasdaq: INVZ) reported Q2 2021 revenues of $1.0 million, a 38% increase from Q1 2021, driven mainly by InnovizOne-related sales which rose to $991 thousand. Operating expenses surged to $70.7 million, largely due to $49.9 million in stock-based compensation linked to a recent SPAC merger. The company confirmed its long-term guidance and reported significant advancements in commercial opportunities, including partnerships and the development of new LiDAR technologies. As of June 30, Innoviz held $156.4 million in cash and $195.0 million in short-term deposits.
Innoviz Technologies (Nasdaq: INVZ) has partnered with Curium, a developer of automated calibration services for Autonomous Systems. This collaboration aims to enhance vehicle safety by ensuring accurate sensor performance using Innoviz's advanced solid-state LiDAR sensors. Curium will deploy its patented calibration techniques, simplifying the integration of Innoviz's technology into vehicles. The partnership will promote Innoviz's products in Southeast Asia, focusing on sectors such as automotive OEMs and robotaxis, leveraging Innoviz's existing relationships in key Asian markets.