- Record H1 revenues exceed full-year 2024 levels; Q2 cash burn[1] at ~$7.3M; reiterating 2025 revenue guidance; raising NRE bookings targets
- Development agreement with Top 5 passenger OEM reinforces Innoviz's position as a preferred technology partner for global OEMs
- Supporting increasing demand from new and existing customers; shipped first units from Fabrinet's high-volume production line
TEL AVIV, Israel , Aug. 13, 2025 -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high performance, automotive-grade LiDAR and software solutions, today provided commercial and strategic updates on its business, reported its financial results for the quarter ended June 30, 2025 and updated its full year commercial and financial targets.
"I am tremendously proud of the significant progress Innoviz has made in 2025. At the outset of the year, we set a series of ambitious goals for the company; our robust financial performance and strong trajectory of customer engagements demonstrate that we are well on our way to meeting our commitments," said Omer Keilaf, CEO and Co-Founder of Innoviz. "In the first half of the year, Innoviz generated more revenues than in all of 2024, and cash burn in the second quarter was in the single digits. In June, Innoviz signed a Statement of Development Work (SODW) agreement with a top 5 passenger automotive OEM under which Innoviz is developing certain modifications to its InnovizTwo LiDAR for the OEM's level 3 global production vehicle program slated for SOP in 2027, as the companies discuss a production agreement. We continue to make progress with our existing L3 and L4 programs, and are encouraged by the dramatic acceleration of robotaxi deployments around the world. We introduced the InnovizSMART, which brings our auto-grade LiDAR to industrial applications. Within weeks of its launch, we were able to announce several important collaborations, as well as the integration of the InnovizSMART into the NVIDIA Jetson Orin ecosystem. With our expanding customer engagement and units now shipping from our high-volume manufacturing line at Fabrinet, we believe that we are well-positioned to achieve our goal of becoming the world's premier large-scale supplier of best-in-class LiDAR solutions for autonomous driving and beyond."
Commercial and Strategic Updates
- SODW with Top 5 Automotive OEM – signed a Statement of Development Work (SODW) agreement with a Top 5 passenger automotive OEM.
- First units shipping from Fabrinet – to support our customers across L3, L4, and non-automotive applications, we have begun shipping units from Fabrinet's high-volume production line.
- Launched InnovizSMART – announced the launch of InnovizSMART, which brings auto-grade LiDAR to industrial applications such as Security, Mobility, Aerial, Robotics, and Traffic Management.
- Announced key collaborations with Cogniteam, Sparsh CCTV, CronAI and integration with NVIDIA Jetson Orin platform – shortly after unveiling InnovizSMART, Innoviz announced collaborations with multiple companies to develop a variety of solutions for deployment in areas such as safety, security, and others.
Second Quarter 2025 Financial Results
Revenues in Q2 2025 were $9.7 million compared to revenues of $6.7 million in Q2 2024. The revenues resulted from a combination of NRE services and sales of LiDAR units.
Operating expenses in Q2 2025 were $18.5 million, a decrease of 20% compared to operating expenses of $23.3 million in Q2 2024. Operating expenses for Q2 2025 included $2.3 million of share-based compensation compared to $3.8 million of share-based compensation in Q2 2024.
Liquidity as of June 30, 2025 was approximately $79.4 million, consisting of cash and cash equivalents, short term deposits, marketable securities and short-term restricted cash.
Updated FY 2025 Financial and Operational Targets
The company is reiterating its FY 2025 targets of:
- Revenues of $50-$60 million, more than 2x 2024 levels;
- 1-3 new program wins
- The company is raising its 2025 NRE bookings target to $30-$60 million from $20-$50 million. Year to date, Innoviz has booked over $20 million in NREs.
Conference Call
Innoviz management will hold a web conference today, August 13, 2025, at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time) to discuss commercial and strategic updates, financial results for the second quarter 2025, and financial and operational targets. Innoviz CEO Omer Keilaf and CFO Eldar Cegla will host the call, followed by a question-and-answer session.
Investors are invited to attend by registering in advance here. All relevant information will be sent upon registration.
A replay of the webinar will also be available shortly after the call in the Investors section of Innoviz's website for 90 days.
About Innoviz
Innoviz is a global leader in LiDAR technology, serving as a Tier-1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the US, Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit https://innoviz.tech/
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