Innoviz Technologies Ltd Stock Price, News & Analysis

Innoviz announced a significant milestone with a new customer acquisition in Asia, enhancing its global presence in the autonomous driving sector. This partnership brings on board another leading platform, positioning Innoviz to capitalize on the growing demand for autonomous vehicle technologies.

The expansion not only diversifies the company's market reach but also potentially increases its revenue streams as it aligns with the industry's rapid technological advancements.

Innoviz Technologies, a leader in LiDAR technology, is set to host its inaugural Global Distributor Summit from November 14-17, 2022, at its new headquarters in Israel. This event aims to enhance the production of InnovizOne, a high-performance LiDAR sensor, to meet the growing demand from both automotive and non-automotive sectors. Participants from regions including Europe, North America, Japan, Taiwan, and Korea will engage in strategic sessions to promote InnovizOne's integration into various applications.

Innoviz Technologies (Nasdaq: INVZ) announced a partnership with Kudan on October 26, 2022, to enhance 3D digital mapping solutions using LiDAR technology. This collaboration focuses on utilizing Kudan's SLAM software for accurate 3D point cloud generation, essential for autonomous mobility and real-time environmental perception. Innoviz's LiDARs operate up to 250 meters and are resilient to various conditions. The partnership aims at applications across multiple sectors, including automotive, robotics, and surveying, leveraging both companies' global networks for enhanced market presence.

Innoviz Technologies (NASDAQ: INVZ) will release its third quarter earnings results for the period ending September 30, 2022, on November 9, 2022, before market opening. The company will host a conference call at 9:00 a.m. ET on the same day to discuss financial results and operational performance, followed by a Q&A session. Interested investors can register for the event in advance, and a replay will be available on Innoviz's website for 90 days after the call.

Innoviz Technologies Ltd. (NASDAQ: INVZ) announced the filing of a universal shelf registration statement on Form F-3 with the SEC, allowing the potential sale of up to $200 million in common stock, debt securities, and more. While there are no immediate plans for offering securities, the filing is a standard procedure to address future strategic needs. The registration has not yet become effective, meaning no sales can occur until then. Innoviz aims to strengthen its position in the competitive LiDAR technology market, focusing on safe autonomous vehicle solutions.

Innoviz Technologies (Nasdaq: INVZ) has partnered with Sensagrate to launch a smart intersection corridor pilot at UCLA, integrating InnovizOne LiDAR with SensaVision for enhanced traffic analytics. This collaboration aims to improve pedestrian and driver safety through accurate data collection and real-time traffic monitoring. The pilot will also be expanded to cities in Arizona, such as Phoenix, Scottsdale, and Tucson, to address smart city challenges. Innoviz’s LiDAR technology is noted for its durability and compliance with privacy laws, making it suitable for smart city applications.

Innoviz Technologies has been selected by a leading Asia-based automotive OEM as a direct supplier of its InnovizTwo LiDAR sensor for series production of passenger vehicles. This marks Innoviz's fourth major design win and aims to support full L3 automation in vehicles. The partnership is projected to generate revenue in fiscal year 2024. This selection follows a recent collaboration with Volkswagen to integrate Innoviz's technology into their vehicles, showcasing Innoviz's growth as a Tier 1 supplier.

Innoviz Technologies has partnered with HiRain Technologies to deploy InnovizOne LiDAR sensors across ports in China. The initial deployment at RiZhao port aims to enhance operational efficiency and safety using autonomous vehicles and Vehicle to Anything (V2X) applications. The combined technology will mitigate risks and improve worker safety through precise environmental monitoring. HiRain plans to integrate Innoviz's next-generation sensor, InnovizTwo, for further advancements. This collaboration comes amid global supply chain challenges and highlights the increasing relevance of LiDAR technology.

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.