Innoviz Technologies stock falls 13.4% after Q2 results and mixed shelf offering

Innoviz Technologies reported Q2 revenue of $9.75 million, beating estimates, and a net loss of 9 cents per share, in line with estimates. The company reaffirmed its FY2025 revenue guidance of $50-60 million. Innoviz's shares are down 13.4% after the company filed for a $200 million mixed shelf offering.

Innoviz Technologies Ltd. (INVZ) reported its second-quarter (Q2) 2025 financial results, highlighting a strong revenue performance while maintaining its net loss trajectory. The company's Q2 revenue of $9.75 million exceeded the Zacks Consensus Estimate of $8.98 million, marking a 46.4% year-over-year (YoY) increase [1]. This quarterly report represents an earnings surprise of -12.50%, as the company posted a net loss of $0.09 per share, in line with the Zacks Consensus Estimate of a loss of $0.08 per share [1].

The company's Q2 results also demonstrate significant progress toward commercial scale. More notably, first-half 2025 revenues have already surpassed full-year 2024 figures, indicating an accelerating growth trajectory. Cash management has improved substantially, with quarterly cash burn reduced to approximately $7.3 million, a critical metric for pre-profitability hardware companies [2]. Operating expenses decreased by 20% to $18.5 million compared to $23.3 million in Q2 2024, including $2.3 million in share-based compensation (down from $3.8 million year-over-year) [2].

Innoviz Technologies maintains its FY 2025 revenue guidance of $50-60 million, more than double the 2024 levels, and raised its non-recurring engineering (NRE) bookings target to $30-60 million from $20-50 million [1, 2]. The company has already booked over $20 million in NREs year-to-date. The Statement of Development Work (SODW) agreement with a top 5 passenger automotive OEM represents a significant strategic win, positioning Innoviz to potentially secure a production contract for a global Level 3 autonomous vehicle program with 2027 start of production (SOP) [2].

Despite the strong Q2 results, Innoviz Technologies' shares have declined by 13.4% after the company filed for a $200 million mixed shelf offering. The stock's immediate price movement will depend on management's commentary on the earnings call and future earnings expectations. Investors should monitor the company's earnings outlook and industry trends to gauge the stock's potential performance.

References:
[1] https://finance.yahoo.com/news/innoviz-technologies-ltd-invz-reports-121001589.html
[2] https://www.stocktitan.net/news/INVZ/innoviz-reports-second-quarter-2025-05gqni1wqgpp.html