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), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has scheduled its Q3 2024 earnings conference call for Wednesday, November 13, 2024, at 9:00 a.m. ET. The company will release its financial results for the quarter ended September 30, 2024, before market opens on the same day. The call will include a Q&A session for investors, and a webinar replay will be available in the Investors section of Innoviz's website for 90 days.
Innoviz Technologies (NASDAQ: INVZ) reported Q2 2024 results, highlighting significant progress in its LiDAR business. Key points include:
1. Q2 revenues of $6.7 million, exceeding guidance of $4-$5 million and up from $1.5 million in Q2 2023.
2. Agreement with a major platform partner to supply InnovizTwo short- and long-range LiDARs for their Level 4 autonomous platform.
3. Expanded offering to include both short- and long-range LiDAR solutions as a bundle.
4. New program with The Indoor Lab to supply InnovizTwo LiDARs for use in multiple international airports.
5. Pipeline growth to over 15 programs, with increased interest in short-range LiDAR solutions.
6. Q3 2024 revenue guidance of $3.5-$5 million.
7. Reiterated FY 2024 targets to secure 2-3 additional customer programs and $20-70 million in new NRE bookings.
Innoviz Technologies (Nasdaq: INVZ) has entered a distribution agreement with The Indoor Lab to deploy InnovizTwo LiDARs across major US airports, starting with Denver, Tampa, and Nashville International airports. This collaboration aims to enhance passenger safety and operational efficiency using AI capabilities.
The Indoor Lab is shifting from cameras to LiDAR-based solutions, offering higher-quality and more accurate data for airport management. By utilizing InnovizTwo LiDARs with machine learning and AI, they can provide an accurate solution for identifying, classifying, and informing about potential challenges or threats in various airport areas.
This partnership will enable enhanced visibility and data analytics for airport partners, creating a safer and more efficient environment for travelers. The LiDAR technology allows AI-based perception systems to interpret what cameras and other RF-based sensors cannot, significantly improving safety across entry and exit points, tarmacs, baggage check, terminals, and runways.
Innoviz Technologies (Nasdaq: INVZ), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has received a non-compliance notice from Nasdaq due to its closing bid price falling below $1.00 per share for 30 consecutive business days. The company has been granted a 180-day grace period until January 27, 2025, to regain compliance with the minimum bid price requirement.
If Innoviz's closing bid price reaches $1.00 or higher for at least ten consecutive trading days during this period, it will regain compliance. Failure to meet this requirement may result in an additional 180-day grace period, subject to Nasdaq's determination. The company's shares will continue to trade on the Nasdaq Capital Market under the symbol 'INVZ' during this time.
Innoviz Technologies (NASDAQ: INVZ), a leading Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has announced its second quarter 2024 earnings release and conference call schedule. The company will release its financial results for the quarter ended June 30, 2024, on Wednesday, August 7, 2024, before the market opens.
A conference call and webinar will be held on the same day at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time) to discuss operational and financial results, followed by a Q&A session for investors. Interested parties can register in advance for the webinar, and a replay will be available in the Investors section of Innoviz's website for 90 days after the call.
Innoviz Technologies, a leading supplier of automotive-grade LiDAR sensors, has announced a collaboration with a major OEM to integrate their new short-range LiDAR into the OEM's Level 4 autonomous driving platform. This new addition, which joins the InnovizTwo product line, offers high-resolution detection with a 90-degree vertical field of view. It is designed for light commercial vehicles, shuttles, robotaxis, and trucks. This collaboration follows a six-month development phase and is expected to lead to a series production nomination soon. CEO Omer Keilaf remarked on the significance of this partnership for advancing autonomous vehicle technologies globally.
Innoviz Technologies (NASDAQ: INVZ), a leading supplier of LiDAR sensors and perception software, has released its first Impact Report, covering the company's social impact, sustainable operations, and responsible business practices from 2022 to 2023. The report highlights Innoviz's commitment to developing high-performance automotive technologies while emphasizing corporate governance and community engagement. CEO Omer Keilaf emphasized the company's mission to not only minimize harm but also contribute positively to society by enhancing vehicle safety and autonomy. The report includes detailed steps taken by Innoviz to uphold the highest standards in responsible corporate governance.
Innoviz Technologies (Nasdaq: INVZ) will host the EcoMotion Assembly 2024 at its global headquarters in Rosh Ha'ayin, Israel on June 4th. This event, themed 'Mobility innovation in times of disruption,' will feature international speakers and attendees from leading OEMs, consulting firms, business accelerators, and technology hubs. Omer Keilaf, CEO of Innoviz, will deliver a keynote on global collaboration in the mobility industry. The EcoMotion Community, with over 16,000 members and 750 startups, focuses on advancing smart mobility through technology and collaboration. This year's assembly comes as brands like Mercedes and BMW advance autonomous driving technologies, with Innoviz playing a significant role in BMW's Level 3 autonomy. Innoviz is also collaborating with Volkswagen on autonomous capabilities for the ID. Buzz light commercial vehicle. The event aims to showcase technological advancements and address global mobility ecosystem challenges.
Innoviz Technologies (Nasdaq: INVZ) exceeded revenue guidance for the second consecutive quarter, reporting Q1 2024 revenues of $7.1 million, surpassing expectations. The company expanded key partner and customer relationships, achieving strong revenue growth, and reiterated its full year 2024 operational targets. Innoviz is actively collaborating with major players like BMW, Volkswagen Group, Mobileye, and Qualcomm to advance its level 3 and level 4 LiDAR programs. The company also reached a significant milestone with a successful winter test of the InnovizTwo B-Sample with Volkswagen, showing resilience in harsh conditions. Financially, Innoviz reported a decrease in operating expenses in Q1 2024 compared to Q1 2023, with liquidity of approximately $128.3 million as of March 31, 2024. The company aims to achieve second quarter 2024 revenues in the range of $4-$5 million and reiterated its operational targets for the full year 2024.
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