Innoviz Technologies Ltd Stock Price, News & Analysis

Innoviz Technologies (NASDAQ: INVZ) has provided significant updates regarding its business and financial performance. The company is on track for 2023 series production launches with BMW and its shuttle program, expecting increased volume in the second half of the year. The customer pipeline has expanded, now exceeding 20 million LiDAR units, leading to potential non-recurring engineering bookings of $150-$250 million. Financially, Innoviz reported a 10% revenue increase to $6 million in 2022, driven by a 99% rise in unit sales. Operating expenses decreased by 18% to $124.6 million, primarily due to reduced share-based compensation. Liquidity remains strong with $186.2 million in cash and securities.

Innoviz Technologies (Nasdaq: INVZ) has officially opened a new office in Munich, Germany, enhancing its operational capabilities and collaboration with key customers like Volkswagen and BMW. Located strategically near a skilled workforce and equipped with a lab and vehicle testing garage, the office aims to support Innoviz's expansion in the automotive market, particularly in Germany. The company plans to hire locally to bolster its growing project portfolio. This move is part of Innoviz's strategy to strengthen relationships and increase business opportunities in a leading automotive hub.

Innoviz Technologies (Nasdaq: INVZ) has partnered with General Laser to promote its LiDAR solutions across Europe. This marks Innoviz's first distribution agreement in the region. General Laser will leverage its extensive network of over 70 resellers to enhance sales of Innoviz's products, including InnovizOne and InnovizTwo. The European non-automotive LiDAR market is projected to grow at a CAGR of 25%, reaching nearly $2 billion USD by 2029. This collaboration is expected to drive revenue growth in multiple sectors such as construction and agriculture.

Innoviz Technologies (NASDAQ: INVZ) announced it will release its Q4 and full year 2022 earnings results on March 1, 2023, before market opening. A conference call will follow at 9:00 a.m. ET to discuss operational and financial results, with a Q&A session for investors. Registration for the call is required, and a replay will be available for 90 days on their website. As a leader in LiDAR technology, Innoviz aims to enhance the safety and performance of autonomous vehicles, partnering with renowned automotive brands globally.

Innoviz Technologies has unveiled Innoviz360, a high-performance LiDAR sensor designed for both automotive and non-automotive applications, expected to be showcased at CES 2023 in Las Vegas from January 5-8. The Innoviz360 features 1280 scanning lines per frame, a range of 300 meters, and impressive vertical FOV of 64°. The device aims to address major challenges for OEMs in achieving Level 4-5 automation, offering significant cost reductions. Innoviz's ongoing commitment to technological advancements positions it as a leading player in the LiDAR market.

Innoviz Technologies (NASDAQ: INVZ) has announced a collaboration with Exwayz to showcase new lidar-based perception solutions for non-automotive applications. The integration of InnovizOne LiDAR with Exwayz's plug-and-play software enables advanced 3D mapping, localization, and object detection. Exwayz will demonstrate this technology at CES on January 7, 2023. This partnership aims to expand Innoviz's market reach across various sectors, including logistics and security, highlighting its commitment to developing innovative LiDAR solutions for diverse global customers.

Innoviz Technologies (NASDAQ: INVZ) partners with LOXO to equip zero-emission autonomous delivery vehicles with InnovizOne LiDAR sensors. The collaboration aims to enhance delivery efficiency and reduce emissions in Switzerland. LOXO plans to showcase its autonomous vehicles at the CES on January 7, 2023. Following an evaluation period, LOXO will increase orders for InnovizOne to support its fleet. The autonomous last-mile delivery market is projected to grow from USD 57.67 billion in 2021 to USD 68.95 billion by 2028, highlighting the potential impact of this partnership.

Innoviz Technologies (NASDAQ: INVZ) will showcase its InnovizOne LiDAR technology at CES 2023 from January 5-8 in Las Vegas, Nevada. The company will conduct live demonstrations and partner presentations at booth #6553, focusing on non-automotive applications such as smart cities and industrial uses. Global partners like Sensagrate and Whale Dynamics will highlight their innovative projects leveraging Innoviz's LiDAR systems. CEO Omer Keilaf expressed excitement about demonstrating the technology's versatility across various sectors.

Innoviz Technologies (Nasdaq: INVZ) has partnered with Outsight to integrate Innoviz's high-performance LiDAR, InnovizOne, with Outsight's processing software. This collaboration aims to enhance 3D localization and perception technologies across various applications, including smart infrastructure and industrial uses. The partnership targets sectors like intelligent transportation systems and commercial vehicle robotics. Outsight's software simplifies LiDAR technology integration, promoting broader adoption beyond automotive markets. Demonstrations of their collaboration will occur at CES 2023.