What is the revenue and EPS growth rate for Innoviz Technologies year over year?

What is Innoviz Technologies's gross profit margin?

What is the market's earnings forecast for Innoviz Technologies next quarter?

What were the key takeaways from Innoviz Technologies’s earnings call?

What is Innoviz Technologies's latest dividend and current dividend yield?

What factors drove the changes in Innoviz Technologies's revenue and profit?

What guidance did Innoviz Technologies's management provide for the next earnings period?

What were the key takeaways from Innoviz Technologies's earnings call?

- **Revenue Growth**: Q3 revenue up 238% YoY to $15.3 million, YTD 2.3x 2024 levels.
- **L4 Trucking Win**: Secured series production deal with major OEM, to announce customer name soon.
- **InnovizThree Launch**: Next-gen LiDAR with 60% smaller form factor, targeting urban LiDAR applications.
- **Market Consolidation**: Fewer viable competitors, creating 'winner-takes-more' dynamics.
- **Financial Health**: Cash burn down to $14 million Q3, 30% YoY expense reduction.

**【CEO Summary Section】**
- Q3 2025 revenue reached $15.3 million, with year-to-date (YTD) revenue of $42.4 million, 2.3x higher than the same period in 2024.
- Secured a major L4 autonomous trucking deal with a leading commercial vehicle OEM, expected to announce customer name soon.
- Shipped significantly more LiDAR units in Q3, with production ramping at Fabrinet.
- Launched InnovizThree, a next-gen LiDAR with 60% smaller form factor, improved performance, and cost efficiency.
- Automotive LiDAR market consolidating, with few viable competitors meeting OEM requirements.
- Expanded into non-automotive applications with InnovizSMART, achieving superior performance in perimeter security tests.

**【CFO Financial Commentary】**
- Cash burn of $14 million in Q3, expected to decline sequentially.
- Gross margin 15% for Q3, 26% YTD.
- Operating expenses decreased 30% YoY to $18.1 million, driven by cost optimization.
- NRE (Non-Recurring Engineering) payments guidance updated to $110 million over 2025-2027.
- Strong balance sheet with $74.4 million in cash and no long-term debt.

**【Q&A Key Highlights】**
- **L3 Program Progress**: In advanced discussions with top 5 OEM for SODW, nearing series production decision.
- **Competitive Landscape**: Fewer viable competitors due to technical and financial challenges, creating 'winner-takes-more' dynamics.
- **Sensor Fusion Strategy**: Collaborating with platform providers (e.g., Mobileye, NVIDIA) for automotive applications, while developing custom solutions for non-automotive use cases.
- **Cost Reduction Trajectory**: InnovizThree to drive cost efficiency through smaller form factor and advanced integration, targeting urban LiDAR applications.
- **2026 Outlook**: Expect growth from Mobileye Drive platform deployments, L4 trucking ramp, and expanding non-automotive opportunities.


Innoviz Technologies Ltd. (INVZ) Q3 2025 Earnings Call Transcript

- **Revenue milestone**: Q2 revenue ($9.7M) and H1 total ($27.1M) exceed 2024 full-year results, with 2025 guidance raised to $50-60M.
- **Strategic OEM win**: Signed SOW with top 5 OEM for Level 3 program (2027 SOP), with potential expansion to short-range LiDAR.
- **Non-automotive success**: InnovizSMART ASPs 3x higher than automotive, with 10+ RFQs and partnerships (NVIDIA, Cogniteam).
- **Production ramp**: Q3 unit shipments expected to grow 10x vs. Q2, supported by Fabrinet's high-volume line.
- **Financial strength**: $79.4M cash, ATM program launched to maintain liquidity and support growth.

**【CEO Summary Section】**
- Q2 2025 revenue: $9.7 million (H1: $27.1 million, surpassing 2024 total). Full-year guidance: $50-60 million.
- Signed SOW with top 5 OEM for Level 3 vehicle program (2027 SOP), with potential expansion to short-range LiDAR.
- InnovizSMART launched for non-automotive applications, ASPs 3x higher than automotive, with partnerships (NVIDIA, Cogniteam) and 10+ RFQs.
- Production ramp: 10x Q3 unit shipments vs. Q2, supported by Fabrinet's high-volume line.
- NRE booking guidance raised to $30-60 million (from $20-50 million), with $20+ million booked YTD.
- Cash burn: $7.3 million (Q2), down from $20.7 million (Q1), targeting single-digit annualized burn.

**【CFO Financial Commentary】**
- Q2 gross margin: 16% (H1: 31%). Operating expenses: $18.5 million (down 20% YoY).
- Cash: $79.4 million. Launched $75 million ATM program to buffer NRE payment variability.
- R&D expenses: $13.2 million (down 23% YoY), with $1.4 million share-based comp.
- 2025 focus: managing expenses, maintaining liquidity, and supporting production ramp.

**【Q&A Highlights】**
- OEM SOW to series production: dependent on contract finalization, with 2027 SOP and standard-fit LiDAR.
- Non-automotive margins: significantly higher than automotive, driven by functional safety requirements.
- Production timing: JIT methodology, with Q3 2025 shipments supporting 2026 deployments.
- ATM usage: opportunistic, to maintain liquidity and demonstrate financial strength to customers.

Innoviz Technologies Ltd. (INVZ) Q2 2025 Earnings Call Transcript

- **Record Q1 Performance**: $17.4M revenue (3x sequential, 2.5x YoY) and 40% gross margin, driven by NRE payments and LiDAR sales.
- **Strategic Partnerships**: Fabrinet partnership for mass production, NVIDIA collaboration on Hyperion platform, and Volkswagen robotaxi deployments.
- **Growth Drivers**: 2025 NRE plan expansion to $95M, 2026 SOP ramps, and non-automotive smart city opportunities.
- **Financial Strength**: $85.4M cash, 34% YoY expense reduction, and 2025 revenue guidance of $50-60M.
- **Key Milestones**: First Fabrinet units in Q2 2025, 2026 robotaxi fleet launches, and expanding Level 3/4 program pipeline.

**【CEO Summary Section】**
- Q1 2025 revenue reached $17.4 million, a 3x sequential increase and 2.5x year-over-year growth, driven by NRE payments and LiDAR sales.
- Gross margin hit a record 40%, up from 8.9% in Q4 2024, supported by NRE contributions and cost management.
- Extended NRE payment plan to $95 million, with bulk payments expected in 2025-2026, enabling SOP ramps in 2026.
- Strategic partnership with Fabrinet for mass production of InnovizTwo, leveraging automotive-grade manufacturing capabilities.
- Accelerated robotaxi deployments with Volkswagen, Uber, Holon, and Verne, with 9 InnovizTwo LiDARs per vehicle for 2026 fleet launches.
- Expanding collaboration with NVIDIA on the Hyperion platform, targeting multiple OEMs for Level 3/4 applications.
- Non-automotive traction in smart cities, with tailored software/hardware kits for integrators.

**【CFO Financial Commentary】**
- Q1 2025 cash position of $85.4 million, bolstered by a registered direct offering in February.
- Operating expenses decreased 34% YoY to $21 million, with R&D expenses down 38% to $14.8 million.
- Full-year 2025 revenue guidance of $50-60 million, back-end loaded due to customer timelines.
- Gross margins expected to remain positive, with fluctuations based on product ramps and NRE flows.
- Cash burn reduction target for 2025, driven by operational realignment and expense management.

**【Q&A Key Highlights】**
- **Robotaxi Market Share**: First-mover advantage with Volkswagen and Uber deployments, positioning for leadership in global robotaxi fleets.
- **Tariff Impact**: Minimal expected impact, with flexibility via Fabrinet's global manufacturing network.
- **NVIDIA Collaboration**: InnovizTwo as reference LiDAR for NVIDIA's Hyperion platform, with multiple OEM evaluations underway.
- **Non-Automotive Growth**: Smart city projects with integrators, leveraging auto-grade reliability for safety and monitoring applications.
- **Production Timeline**: First Fabrinet-produced InnovizTwo units expected in Q2 2025, with full ramp in 2026.


Innoviz Technologies Ltd (INVZ) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: 2024 revenue up 21% YoY to $24.3M; 2025 guidance: $50M-$60M with positive gross margin.
- **Cash Strength**: $68M cash on hand + $40M equity raise; $12M annualized cost savings.
- **Customer Wins**: Mobileye Drive platform secures 9 LiDARs per vehicle, SOPs in 2026.
- **Operational Excellence**: 2024 R&D expenses down 21% YoY; Q4 gross profit turned positive.
- **Growth Catalysts**: $80M NRE payments, NVIDIA ecosystem integration, and global production ramp.


**【CEO Opening Remarks】**
- 2024 full-year revenue: $24.3M (vs. $20.1M in 2023), exceeding midpoint of guidance range.
- Cash use in operations & capex: $81.4M (down 18% YoY from $99.6M).
- Key achievements:
  - Secured $80M NRE payment plan with customers (2025-2027, ~$40M in 2025).
  - Completed $40M registered direct offering in Feb 2025.
  - Announced $12M annualized cost savings through operational optimization.
  - Expanded production capacity by 10x for 2025 to meet customer demand.
- 2025 revenue guidance: $50M-$60M (vs. 2024: $24.3M), with positive gross margin.

**【CFO Financial Highlights】**
- 2024 operating expenses: $101M (down 17% YoY from $121M).
- R&D expenses: $73.8M (down 21% YoY from $92.7M).
- Gross margin improved QoQ, with Q4 generating first positive gross profit.
- 2025 cash burn expected to decline YoY, driven by NRE payments and cost savings.

**【Key Customer Programs】**
- Mobileye Drive platform: 9 InnovizTwo LiDARs per vehicle, SOPs in 2026.
  - VW ID. Buzz: 3 long-range, 6 short-range LiDARs; testing in Austin, Germany.
  - Holon people mover: 9 LiDARs; global rollout in 2026.
  - Earning robotaxis: 9 LiDARs; validation in 2025, SOP in 2026.
- NVIDIA Hyperion 8 platform integration: expands access to NVIDIA ecosystem.

**【Analyst Questions & Answers】**
1. **NRE Booking Progress**: 
   - $80M NRE plan with existing customers; potential to expand scope with new customers.
   - 2025 NRE bookings target: $20M-$50M (incremental to existing engagements).
2. **Tariff Impact**: 
   - Production in Asia (non-China), no direct impact; geopolitical neutrality attracts U.S. interest.
3. **Gross Margin Outlook**: 
   - 2025 annual gross margin expected positive, though quarterly fluctuations possible.
4. **Mobileye Platform Dominance**: 
   - Mobileye Drive exclusively uses InnovizTwo for Level 4 programs; 9 LiDARs per vehicle drives scale.
5. **BMW China Collaboration**: 
   - InnovizTwo enables Level 3 system with superior reliability vs. Level 2 sensors.

**【2025 Outlook】**
- Target 1-3 new programs in 2025.
- Explore non-automotive opportunities (e.g., security, smart infrastructure) post-2026 production ramp.
- $80M NRE payments + $40M funding provide runway for SOPs in 2026-2027.


INVZ

INVZ fundamentals

Earnings Call

You can ask Aime