Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Innoviz Technologies Ltd | NASDAQ:INVZW | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.0181 | 23.54% | 0.095 | 0.065 | 0.20 | 0.095 | 0.065 | 0.0769 | 35,657 | 01:00:00 |
|
Exhibit No.
|
|
Description
|
|
|
|
|
|
Innoviz Technologies Ltd.
|
|||
|
By:
|
/s/ Eldar Cegla
|
||
|
Name: Eldar Cegla
|
|||
|
Title: Chief Financial Officer
|
|||
| • |
Entered two new OEM programs through agreement reached with leading global Level 4 platform partner – During the third quarter, the Company began working with two new OEMs which have adopted the
platform. Innoviz is expected to provide a bundle of nine InnovizTwo short- and long-range LiDARs per vehicle. Start of Production (“SOP”) is expected in 2026. The Company expects new OEM collaborations to arise through the platform
partnership which has the potential to offer significant revenue growth and favorable volumes for Innoviz.
|
| • |
Progressed programs with Volkswagen Group – Innoviz continued to progress its partnerships with Volkswagen Group on existing programs including the Cariad Level 3 program, Mobileye Chauffeur and
ID. Buzz Level 4 light commercial vehicle program incorporating Mobileye Drive. Innoviz passed various industrialization and development audits during the quarter and expects to meet the scheduled timelines for LiDAR SOP.
|
| • |
ID. Buzz to be deployed in Hamburg, Germany in 2025 – MOIA recently announced that starting in mid-2025 it will deploy the ID. Buzz in Hamburg, Germany as part of Project ALIKE, a project to test
autonomous on-demand ridepooling in the city. The project’s aims are to make autonomous mobility accessible, to test a new form of service and to expand Hamburg’s public transit system. ID. Buzz testing by Volkswagen ADMT remains ongoing in
Austin, Texas.
|
| • |
Continued to advance potential new programs with notable OEMs – Innoviz further advanced its pipeline of RFIs and RFQs. Of the more than 15 programs in the pipeline, approximately 50% are in the
RFQ stage. In particular, Innoviz advanced in the RFQ processes with notable OEMs, including several top ten automotive OEMs. Winning these programs could generate strong NRE revenues for Innoviz in the coming years as well as meaningful
long-term LiDAR sales volumes. These potential customers include but are not limited to:
|
| o |
A top ten OEM with which Innoviz has agreed on the technical specifications of a program. The RFQ is in the latter stages which include advanced legal discussions, and Innoviz has successfully completed production related audits;
|
| o |
Leading top ten North American OEMs, which include Level 3 and Level 4 programs. Innoviz has successfully completed LiDAR technical and commercial assessments. Across these opportunities, Innoviz is expected to provide InnovizTwo LiDARs,
its compute box and advanced AI perception software, which on certain programs would be customized to meet the respective platform’s specifications. Innoviz expects to begin receiving decisions related to these programs in the coming
months.
|
|
Nine Months Ended
September 30,
|
Three Months Ended
September 30,
|
|||||||||||||||
|
2024
|
2023
|
2024
|
2023
|
|||||||||||||
|
Revenues
|
$
|
18,241
|
$
|
5,959
|
$
|
4,520
|
$
|
3,483
|
||||||||
|
Cost of revenues
|
(19,941
|
)
|
(15,293
|
)
|
(4,686
|
)
|
(5,721
|
)
|
||||||||
|
Gross loss
|
(1,700
|
)
|
(9,334
|
)
|
(166
|
)
|
(2,238
|
)
|
||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development
|
60,328
|
70,569
|
19,722
|
20,681
|
||||||||||||
|
Sales and marketing
|
5,752
|
6,778
|
1,636
|
2,158
|
||||||||||||
|
General and administrative
|
14,889
|
14,123
|
4,656
|
4,954
|
||||||||||||
|
Total operating expenses
|
80,969
|
91,470
|
26,014
|
27,793
|
||||||||||||
|
Operating loss
|
(82,669
|
)
|
(100,804
|
)
|
(26,180
|
)
|
(30,031
|
)
|
||||||||
|
Financial income, net
|
6,637
|
8,321
|
1,376
|
3,054
|
||||||||||||
|
Loss before taxes on income
|
(76,032
|
)
|
(92,483
|
)
|
(24,804
|
)
|
(26,977
|
)
|
||||||||
|
Taxes on income
|
(129
|
)
|
(520
|
)
|
(52
|
)
|
(52
|
)
|
||||||||
|
Net loss
|
$
|
(76,161
|
)
|
$
|
(93,003
|
)
|
$
|
(24,856
|
)
|
$
|
(27,029
|
)
|
||||
|
Basic and diluted net loss per ordinary share
|
$
|
(0.46
|
)
|
$
|
(0.66
|
)
|
$
|
(0.15
|
)
|
$
|
(0.18
|
)
|
||||
|
Weighted average number of ordinary shares used in computing basic and diluted net loss per ordinary share
|
166,657,624
|
141,494,442
|
167,782,476
|
151,201,336
|
||||||||||||
|
September 30,
|
December 31,
|
|||||||
|
2024
|
2023
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT ASSETS:
|
||||||||
|
Cash and cash equivalents
|
$
|
27,949
|
$
|
26,283
|
||||
|
Short term restricted cash
|
16
|
53
|
||||||
|
Bank deposits
|
43,005
|
105,750
|
||||||
|
Marketable securities
|
16,765
|
13,335
|
||||||
|
Trade receivables, net
|
3,539
|
7,395
|
||||||
|
Inventory
|
1,227
|
1,868
|
||||||
|
Prepaid expenses and other current assets
|
2,323
|
5,774
|
||||||
|
Total current assets
|
94,824
|
160,458
|
||||||
|
LONG-TERM ASSETS:
|
||||||||
|
Marketable securities
|
-
|
4,813
|
||||||
|
Restricted deposits
|
2,651
|
2,623
|
||||||
|
Property and equipment, net
|
23,029
|
25,770
|
||||||
|
Operating lease right-of-use assets, net
|
23,780
|
25,486
|
||||||
|
Other long-term assets
|
86
|
84
|
||||||
|
Total long-term assets
|
49,546
|
58,776
|
||||||
|
Total assets
|
$
|
144,370
|
$
|
219,234
|
||||
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
||||||||
|
CURRENT LIABILITIES:
|
||||||||
|
Trade payables
|
$
|
6,469
|
$
|
8,036
|
||||
|
Deferred revenues
|
278
|
6,949
|
||||||
|
Employees and payroll accruals
|
9,709
|
9,468
|
||||||
|
Accrued expenses and other current liabilities
|
5,411
|
8,743
|
||||||
|
Operating lease liabilities
|
4,189
|
4,034
|
||||||
|
Total current liabilities
|
26,056
|
37,230
|
||||||
|
LONG-TERM LIABILITIES:
|
||||||||
|
Operating lease liabilities
|
25,622
|
28,475
|
||||||
|
Warrants liability
|
64
|
240
|
||||||
|
Total long-term liabilities
|
25,686
|
28,715
|
||||||
|
SHAREHOLDERS’ EQUITY:
|
||||||||
|
Ordinary Shares of no-par value
|
-
|
-
|
||||||
|
Additional paid-in capital
|
804,077
|
788,577
|
||||||
|
Accumulated deficit
|
(711,449
|
)
|
(635,288
|
)
|
||||
|
Total shareholders’ equity
|
92,628
|
153,289
|
||||||
|
Total liabilities and shareholders’ equity
|
$
|
144,370
|
$
|
219,234
|
||||
|
Nine Months Ended
September 30,
|
Three Months Ended
September 30,
|
|||||||||||||||
|
2024
|
2023
|
2024
|
2023
|
|||||||||||||
|
Cash flows from operating activities:
|
||||||||||||||||
|
Net loss
|
$
|
(76,161
|
)
|
$
|
(93,003
|
)
|
$
|
(24,856
|
)
|
$
|
(27,029
|
)
|
||||
|
Adjustments required to reconcile net loss to net cash used in operating activities:
|
||||||||||||||||
|
Depreciation and amortization
|
6,194
|
5,245
|
2,158
|
2,291
|
||||||||||||
|
Remeasurement of warrants liability
|
(176
|
)
|
(344
|
)
|
(27
|
)
|
(99
|
)
|
||||||||
|
Change in accrued interest on bank deposits
|
891
|
(342
|
)
|
1,356
|
(797
|
)
|
||||||||||
|
Change in marketable securities
|
(450
|
)
|
(409
|
)
|
(191
|
)
|
(172
|
)
|
||||||||
|
Share-based compensation
|
15,866
|
15,826
|
4,721
|
5,383
|
||||||||||||
|
Foreign exchange loss (gain), net
|
(134
|
)
|
447
|
(258
|
)
|
382
|
||||||||||
|
Change in prepaid expenses and other assets
|
2,914
|
(441
|
)
|
(239
|
)
|
(1,455
|
)
|
|||||||||
|
Change in trade receivables, net
|
3,856
|
(3,110
|
)
|
1,879
|
(2,490
|
)
|
||||||||||
|
Change in inventory
|
641
|
(602
|
)
|
526
|
(254
|
)
|
||||||||||
|
Changes in operating lease assets and liabilities, net
|
(992
|
)
|
(1,563
|
)
|
335
|
(1,765
|
)
|
|||||||||
|
Change in trade payables
|
(1,703
|
)
|
56
|
544
|
190
|
|||||||||||
|
Change in accrued expenses and other liabilities
|
(3,428
|
)
|
(544
|
)
|
(2,241
|
)
|
(654
|
)
|
||||||||
|
Change in employees and payroll accruals
|
241
|
(823
|
)
|
(7
|
)
|
(1,509
|
)
|
|||||||||
|
Change in deferred revenues
|
(6,671
|
)
|
574
|
(184
|
)
|
377
|
||||||||||
|
Net cash used in operating activities
|
(59,112
|
)
|
(79,033
|
)
|
(16,484
|
)
|
(27,601
|
)
|
||||||||
|
Cash flows from investing activities:
|
||||||||||||||||
|
Purchase of property and equipment
|
(3,221
|
)
|
(6,098
|
)
|
(1,192
|
)
|
(962
|
)
|
||||||||
|
Investment in bank deposits
|
(26,700
|
)
|
(142,600
|
)
|
(11,200
|
)
|
(80,600
|
)
|
||||||||
|
Withdrawal of bank deposits
|
88,600
|
112,500
|
32,600
|
33,000
|
||||||||||||
|
Investment in restricted deposits
|
(122
|
)
|
(40
|
)
|
(55
|
)
|
-
|
|||||||||
|
Investment in marketable securities
|
(33,457
|
)
|
(34,793
|
)
|
(18,662
|
)
|
(11,789
|
)
|
||||||||
|
Proceeds from sales and maturities of marketable securities
|
35,290
|
61,875
|
18,596
|
21,590
|
||||||||||||
|
Net cash provided by (used in) investing activities
|
60,390
|
(9,156
|
)
|
20,087
|
(38,761
|
)
|
||||||||||
|
Cash flows from financing activities:
|
||||||||||||||||
|
Issuance of ordinary shares, net of issuance cost
|
-
|
61,934
|
-
|
61,934
|
||||||||||||
|
Proceeds from exercise of options
|
169
|
406
|
58
|
179
|
||||||||||||
|
Net cash provided by financing activities
|
169
|
62,340
|
58
|
62,113
|
||||||||||||
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
182
|
(272
|
)
|
225
|
(301
|
)
|
||||||||||
|
Increase (decrease) in cash, cash equivalents and restricted cash
|
1,629
|
(26,121
|
)
|
3,886
|
(4,550
|
)
|
||||||||||
|
Cash, cash equivalents and restricted cash at the beginning of the period
|
26,336
|
55,954
|
24,079
|
34,383
|
||||||||||||
|
Cash, cash equivalents and restricted cash at the end of the period
|
$
|
27,965
|
$
|
29,833
|
$
|
27,965
|
$
|
29,833
|
||||||||
1 Year Innoviz Technologies Chart |
1 Month Innoviz Technologies Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
