Innoviz Technologies Ltd.

What they do

Innoviz develops high-performance solid-state LiDAR sensors and perception software that automakers and autonomous vehicle companies use for advanced driver-assistance systems (ADAS) and fully autonomous driving. The company's products include the InnovizOne and InnovizTwo sensor families, along with its proprietary perception software. It is headquartered in Rosh HaAin, Israel, and is commercially engaged with automotive OEMs and technology partners.

Revenue drivers

• LiDAR sensor sales — The primary revenue source is sales of LiDAR sensors to automotive customers and other autonomous vehicle programs. Revenue grew to $55.1 million in 2025, up from $24.3 million in 2024, reflecting increased shipments.
• Perception software — Innoviz licenses perception software that complements its sensors, providing object detection and classification capabilities. This is a smaller revenue contributor, but it differentiates the company's overall solution.
• NRE and development contracts — The company may generate non-recurring engineering (NRE) revenue from custom development work for specific customer programs. These revenues can fluctuate based on project milestones.

Recent performance

In 2025, Innoviz reported revenue of $55.1 million, a 127% increase from $24.3 million in 2024. Despite this growth, the company recorded a net loss of $67.8 million for 2025, narrowing from a $94.8 million loss in 2024. Diluted loss per share improved to $0.34 in 2025 from $0.57 in 2024. Operating cash outflow was $47.9 million in 2025, compared to $77.0 million in 2024, indicating reduced cash usage. As of December 31, 2025, the company held $8.6 million in cash and equivalents, with total assets of $138.5 million and shareholder equity of $77.7 million.

Strategy

Innoviz focuses on scaling production and commercializing its LiDAR technology for automotive series production programs. The company invests heavily in research and development to enhance its sensors and software, aiming for cost reduction and performance improvement. It pursues partnerships with global automakers and Tier 1 suppliers to secure design wins and long-term contracts. Management prioritizes increasing revenue while managing cash burn and moving toward profitability.

Risks

• Customer concentration — A significant portion of revenue may come from a limited number of customers, making results vulnerable to the loss or delay of key programs.
• Liquidity risk — With only $8.6 million in cash as of December 31, 2025, and ongoing operating losses, the company may need additional financing to fund operations.
• Technology and competition — The LiDAR market is highly competitive, and failure to keep pace with technological advancements could erode market share and pricing power.
• Automotive adoption timing — Broader adoption of LiDAR for autonomous vehicles may take longer than expected, delaying revenue growth and return on investment.

Outlook

Management expects continued revenue growth as it ramps production for existing and new customer programs. The company aims to improve gross margins and reduce operating expenses to progress toward profitability. However, given the capital-intensive nature and evolving market, future cash needs and the timing of Automotive OEM awards remain uncertain.