News 
Market Data 
Discover
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
INVZ still rising
Innoviz Technologies Ltd NASDAQ: INVZ
GoSymbol lookup
Information Technology : Electronic Equipment, Instruments & Components | Small Cap Growth | Based in IsraelCompany profile
Innoviz Technologies Ltd is an Israel-based company. It acts as a supplier of high-performance LiDAR semiconductor sensors and perception software that provide vision in the automotive, drones, robotics, mapping and more industries that enable the mass production of autonomous vehicles.
Omer on Twitter.
Innoviz Technologies Reports Full Year 2022 Financial and Operational Results
March 01 2023
https://www.prnewswire.com/news-releases/innoviz-technologies-reports-full-year-2022-financial-and-operational-results-301759379.html
Innoviz continued its progress towards 2023 series production launches, further expanded its customer pipeline, added a key automotive industry veteran as a senior advisor, and is in discussions to expand its program award with one of its largest customers
TEL AVIV, Israel, March 1, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a Tier-1 direct supplier of high-performance, solid-state LiDAR sensors and perception software, today provided commercial and strategic updates on its business, reported its financial results for the full year ended December 31, 2022 and announced 2023 operational and financial targets.
Management Commentary
"2022 was a fast-paced and exciting year at Innoviz," said Omer Keilaf, CEO of Innoviz Technologies. "The march towards our first series production launch continues to move smoothly, and we expect unit volume growth from BMW and our shuttle program in the second half of 2023. Our RFI and RFQ pipeline continues to grow, and we are in advanced discussions to expand our program lineup with one of our largest customers. We will continue to focus on winning production level deals to deliver sustainable long-term revenue and drive enhanced shareholder value."
Commercial & Strategic Updates
- 2023 Start of Production (SOP) remains on track – the Company believes that full production launches for Innoviz's BMW and Shuttle programs remain on track, with volumes expected to increase in the second half of 2023.
Volkswagen program is on track and exploring additional business opportunities – the Company's Volkswagen CARIAD program remains on track for a mid-decade launch and is progressing well. Furthermore, the company is in advanced discussions that are exploring additional business opportunities with the Volkswagen Group.
- Continued growth and expansion in its customer pipeline – during the fourth quarter the Company saw further growth in its customer RFI/RFQ pipeline, including the addition of a multi-million unit LiDAR RFI. The Company's pipeline for potential LiDAR orders is now over 20 million LIDAR units, and the Company believes the 10-15 programs currently in the pipeline represent an estimated opportunity to quote non-recurring engineering (NRE) bookings in the range of $150 to $250 million.
- Innoviz added Steven Schondorf as a senior strategic advisor – Schondorf is an experienced leader in automotive driver assistance systems, active safety, passive safety and safety electronics. He spent 30 years at Ford Motor Company, most recently as the Chief Engineer of ADAS Systems, Hardware and Features, where he was responsible for evaluating early-stage technologies and built the company's system architecture and overall product strategy, including features like Ford's BlueCruise hands-free driving system. Innoviz believes Schondorf's expertise will help accelerate the Company's evolution towards becoming a leading Tier 1 direct supplier of LIDAR to automotive OEMs around the world.
- Innoviz 360 debuted at CES – in only one year, Innoviz progressed from announcing plans for a new 360-degree LiDAR at CES in January 2022 to exhibiting a full sample unit with a live point cloud at CES in January 2023. The Company has received significant customer interest relating to Innoviz 360 and it believes the market has a strong appetite for new solutions at Innoviz's performance levels and price points.
Full Year 2022 Financial Results
Revenues in 2022 were $6.0 million, up 10% compared to revenues of $5.5 million in 2021. Innoviz sold a record number of LiDAR units in 2022, with unit volumes increasing 99% in 2022 as compared to 2021. The difference in the increase between volume and revenue growth in 2022 as compared to 2021 primarily exists due to non-recurring items from machinery and other revenues in 2021, coupled with the evolution of average selling prices (ASPs) as the Company transitions from selling early-stage sample units to higher volumes as it gets closer to launching series production.
Operating expenses in 2022 were $124.6 million, down 18% compared to operating expenses of $152.6 million in 2021. Operating expenses for 2022 included $19.3 million of share-based compensation compared to $64.7 million of share-based compensation in 2021. The year-over-year decrease in operating expense was primarily due to the lower level of share-based compensation, partially offset by higher payroll expense, InnovizTwo development costs, depreciation and facilities costs.
Research and development expenses in 2022 were $95.1 million, a slight increase from research and development expenses of $93.3 million in 2021. The increase was primarily attributable to higher payroll expenses and was partially offset by a decrease in share-based compensation, with 2022 share-based compensation of $12.0 million compared to $25.5 million in 2021.
Liquidity: Innoviz maintains significant liquidity with approximately $186.2 million in cash, short term deposits, short term restricted cash and marketable securities as of December 31, 2022.
Reviewing 2022 Targets
The Company is pleased to announce that it met or exceeded each of its targets for 2022:
- The Company won two new series production awards in 2022, ahead of its stated goal of adding at least one.
- The Company increased its forward-looking order book by +165% in 2022, ahead of its stated goal of +30%.
- The Company announced participation in 14 pre-production programs, ahead of its stated goal of 10.
2023 Targets
The Company is establishing initial targets for 2023.
- Win at least 2 new series production awards with new customers.
- Win at least 1-2 additional programs with existing customers.
- 2023 revenues targeted in the range of $12-15 million and new NRE bookings targeted in the range of $20-40 million.
Conference Call
Innoviz management will hold a web conference today, March 1, 2023, at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss commercial and strategic updates, financial results for the full year ended December 31, 2022 and 2023 operational and financial targets. Innoviz CEO Omer Keilaf and CFO Eldar Cegla will host the call, followed by a question-and-answer session. Steven Schondorf will join the call as a special guest.
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 (https://ir.innoviz.tech/) for 90 days.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 www.innoviz-tech.com
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Innoviz Technologies to Unveil Breakthrough Innoviz360 LiDAR at CES® 2023
January 05 2023
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89916907/innoviz-technologies-to-unveil-breakthrough-innovi
Highlights
- Innoviz360, for automotive and non-automotive applications, offers huge performance in a tiny package
- Innoviz360 is designed for autonomous vehicles, trucks, shuttles, and non-automotive applications, including heavy machinery, smart cities, logistics, construction, and maritime
- Innoviz360 features a revolutionary 360° scanning design with maximum 64° vertical FOV and 300m range
- Just one year after its announcement, the revolutionary Innoviz360 will be demonstrated at the Consumer Electronics Show (CES) in Las Vegas, Nevada, January 5-8, 2023
TEL AVIV, Israel, Jan. 5, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance LiDAR sensors and perception software, today unveiled Innoviz360, the newest member of the high-performance Innoviz LiDAR family. Innoviz360 offers an improved performance with substantial cost reduction. The Innoviz360 innovative design is based on a new approach that overcomes existing spinning LiDAR barriers that are limited in performance, expensive, and too large for most applications.
Innoviz360 – huge performance in a tiny package
The new, lightweight, Innoviz360 LiDAR features up to 1280 scanning lines per frame, configurable frame rate, 0.05°x 0.05° resolution, and 300-meters of range. The Innooviz360 design leverages many hardware advances from InnovizTwo, including a single laser, detector and ASIC, and will benefit from the economic of scale of InnovizTwo.
Innoviz360's high resolution, high vertical field of view and reduced cost will help overcome major challenges for original equipment manufacturers (OEMs) looking to achieve Level 4-5 automation in applications such as robotaxis, shuttles, trucks, and delivery vehicles. It also enables autonomy in non-automotive applications, such as heavy machinery, smart cities, logistics, construction, maritime, and more.
"Innoviz continues to show its commitment to break through meaningful technology barriers that allow safety in mobility," said Omer Keilaf, Co-Founder and CEO of Innoviz. "The Innoviz360 adds another dimension to the company's growth by enabling Innoviz to become a one-stop shop for all types of LiDAR solutions"
"It comes as no surprise that Innoviz, which is already a key player in the automotive LiDAR market, has entered the 360 degree spinning LiDAR market," said Mark Fitzgerald, Director, Autonomous Vehicle Service at Strategy Analytics – Powered by TechInsights. "There is a market need for better-performing, lower-cost spinning LiDAR sensors, and the early specs for Innoviz360 are strong compared to other similar offerings."
Innoviz Product Demonstrations at CES 2023:
Innoviz will demonstrate its suite of LiDAR products at the upcoming CES® in Las Vegas, Nevada, from January 5-8, 2023. This will be the first opportunity for the public to view Innoviz360's performance. The company will also demonstrate the InnovizTwo LiDAR sensor on the show floor at booth #6553, as well as partners' use-cases integrating the company's first-generation InnovizOne LiDAR sensor. More on the partner activity at Innoviz booth can be found here.
To book a demo of Innoviz LiDAR sensors, please email: CES@innoviz-tech.com.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 innoviz-tech.com.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter.
InnovizOne LiDAR Selected by LOXO for Autonomous, Zero-Emission Delivery Vehicles
January 03 2023 - 07:00AM
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89893423/innovizone-lidar-selected-by-loxo-for-autonomous
Summary
- LOXO intends to use InnovizOne LiDAR sensors to enable autonomy for its zero-emission autonomous delivery vehicles.
- LOXO will present its autonomous and zero-emission delivery vehicle with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 3:30pm, at Innoviz's booth #6553.
TEL AVIV, Israel and BERN, Switzerland, Jan. 3, 2023 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced today that Switzerland-based LOXO, a provider of zero-emission autonomous vehicles for last-mile delivery services, is planning to use InnovizOne LiDAR to enable autonomy for its delivery vehicles, which allow retailers to transport goods from local distribution hubs to end consumers more efficiently and with fewer emissions.
Integration of InnovizOne LiDAR sensor on LOXO’s zero-emission delivery vehicles (PRNewsfoto/Innoviz Technologies)
Innoviz's planned partnership with LOXO for autonomous delivery services in Switzerland demonstrates the company's continued global expansion. Following the initial evaluation period, LOXO plans to purchase more InnovizOne LiDAR units to support its delivery fleet, with pre-sales for the vehicle beginning as soon as 2023.
To view LOXO's zero-emission delivery vehicles equipped with InnovizOne LiDAR, please click here.
"Tested using to the most rigorous automotive standards, our InnovizOne LiDAR sensor is well-equipped to tackle challenging urban environments and make the delivery of goods more convenient, affordable, and safe," said Omer Keilaf, Co-founder and CEO at Innoviz. "In collaboration with LOXO, we look forward to enabling this critical service for users, especially during the busiest delivery days of the year, and revolutionizing the local transport of goods across cities worldwide."
InnovizOne is a high-performance solid-state LiDAR sensor specifically designed for automakers and robotaxi, shuttle and delivery companies requiring an automotive-grade, mass-producible solution to achieve autonomy. It is purpose-built to be rugged, affordable, reliable, power-efficient, lightweight, and to seamlessly integrate into unique Level 3 to Level5 autonomous vehicle designs ensuring the safety of passengers and pedestrians alike. LOXO vehicles equipped with InnovizOne will be designed to meet the demand from the autonomous last-mile delivery market, which is projected to grow from USD 57.67 billion in 2021 to USD 68.95 billion by 2028.
"At LOXO, we're working at the cutting-edge of autonomous delivery vehicles. As we look forward to deploying our solution on public road in 2023, we have rigorously selected Innoviz' solution to equip our vehicles with the industry-leading LiDAR to ensure the highest levels of safety and operational efficiency," said Amin Amini, Co-Founder & CEO of LOXO. "InnovizOne is expertly engineered to be compact and seamlessly integrate into our electric vehicle design. It's accurate and high-performing, ensuring our vehicles navigate complex and obstacle-ridden urban road networks safely."
LOXO will present its autonomous and zero-emission delivery vehicle use-case with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 3:30pm, at Innoviz's booth #6553.
About LOXO
LOXO is providing an intelligent fully automated goods transport system that solves the increasing problems of the last-mile-delivery on the provider's and customers' side: Our technology is enhancing delivery efficiency, flexibility, safety and decreasing the carbon footprint for the benefit of all. LOXO alpha, the first version of LOXO's autonomous vehicle will hit Swiss roads for the first time in early 2023.
We at LOXO, believe that we have the solution for all types and sizes of retailers across the e-food, postal and logistic sectors. For more information, visit: https://www.loxo.ch/en/
Media Contact - LOXO
Lara Amini, Co-Founder, Business & Marketing
Lara@loxo.ch
+41 79 328 30 20
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 innoviz-tech.com.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact (US)
Rob Moffatt
VP, Corporate Development & IR
Innoviz Technologies
+1 (203) 665-8644
Investors@innoviz-tech.com
Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Technologies to Host Interactive LiDAR Use-Case Demonstrations with Global Partners at the CES® 2023
December 15 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89788614/innoviz-technologies-to-host-interactive-lidar-use
Summary
- Innoviz will host InnovizOne LiDAR demonstrations for non-automotive applications at its booth #6553 at the Consumer Electronics Show (CES), January 5-8, 2023, in Las Vegas, Nevada.
- Innoviz will also host partner presentations at its booth, showing how they are deploying Innoviz LiDAR products across industries.
TEL AVIV, Israel, Dec. 15, 2022 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company" or "Innoviz"), a Tier-1 supplier of high-performance, solid-state LiDAR sensors and perception software, will host an exciting lineup of InnovizOne LiDAR demonstrations and presentations with its global partners at the upcoming Consumer Electronics Show (CES), January 5-8, 2023, in Las Vegas, Nevada.
InnovizOne meets the automotive industry's strictest requirements for performance and safety. It is rugged, affordable, power-efficient, lightweight, high-performing and seamlessly integratable, making it ideal for enabling a wide range of non-automotive use-cases that require mature solutions. Innoviz's global partners are piloting InnovizOne for non-automotive applications, including smart cities, ports, infrastructure and industrial applications, delivery, and more.
"We're thrilled to showcase our cutting-edge LiDAR technology enabling autonomy for a variety of non-automotive applications via our growing reach of customers and partners around the world," said Omer Keilaf, CEO and co-founder of Innoviz. "These engaging demonstrations and presentations at CES will convey the maturity of our LiDAR and highlight the breadth of applications it can support."
Partner Demonstrations with InnovizOne
Live demonstrations will run throughout the show, from January 5-8, at Innoviz's booth #6553.
Sensagrate will demo its Intelligent Transportation System solution, SensaVision, currently being piloted for smart city projects in California and Arizona to promote pedestrian and driver safety through intelligent traffic analytics and data collection. Sensagrate's Sensavision platform, enabled by InnovizOne LiDAR, will be actively capturing and processing data during the show from atop a mock-up street pole for attendees to view the hardware, as well as what the hardware is "seeing" in real-time through a tablet.
HiRain Technologies will demo its five-in-one sensor unit in action, which uses InnovizOne LiDAR and its Convolutional Neural Network to unlock operational efficiency and port safety. Monitoring traffic from a bird's eye view, this system is now being used at several ports in China to improve operational efficiency, mitigate risks and enhance worker safety.
Outsight, a European specialist in 3D spatial intelligence, will have its Spatial Intelligence Software on display at the booth, showcasing how its real-time edge processing and cloud capability is effectively integrating 3D InnovizOne LiDAR data for any infrastructure, industrial, or vehicle application.
Whale Dynamics will have its Level 4 InnovizOne LiDAR-enabled autonomous driving platform on display, which is designed for passenger vehicles, autonomous delivery vehicles, and drivable testing vehicles. Whale Dynamics team will share how the platform interprets a vehicle's surroundings to guide vehicles using full-stack autonomous driving technology.
Innoviz will also host daily presentations at CES with its global partners. These informative sessions will delve further into the applications for Innoviz LiDAR solutions, including highlighting case studies from real-world project deployments. The full schedule is below.
Partner Presentation Schedule (Pacific Time)
All presentations will be followed by a brief Q&A session.
Thursday, January 5, 2023
o 12:00 pm – Sensagrate, Darryl Keeton, Founder and President: LiDAR and Artificial Intelligence for Smart Cities
o 2:00 pm – Outsight, Brandyn Ryan, Product Specialist: LiDAR Pre-Processing Software for enabling Solution Developers and Integrators to build Robotics, Infrastructure or Industrial Applications
o 3:30 pm – Whale Dynamics, David Chang, CEO: Level 4 LiDAR-Enabled Autonomous Driving Platform for passenger vehicles, autonomous delivery vehicles, and drivable testing vehicles.
Friday, January 6, 2023
o 12:00 pm - Helm.ai Mansoor Zaman, Strategic Partnerships: LiDAR for Ground Truth Camera Calibration and Multi-Sensor Solutions for OEMs
o Only Self-Driving Vehicles.
o 3:30 pm - Whale Dynamics, David Chang, CEO: Level 4 LiDAR-Enabled Autonomous Driving Platform 2:00 pm - SpringCloud, Young-gi Song, CEO & Founder: Distributing LiDAR in the Korean Market and Integrating LiDAR for Autonomous Shuttles
o 3:30 pm - Kudan, Tian HAO, CRO & EVP of Business Development: SLAM-based 3D Digital Mapping Solutions for HD Maps, Robotics, Construction, Surveying, "Digital Twinning" and "Industrial Metaverse" Applications
Saturday, January 7, 2023
o 12:00 pm – Exwayz, Hassan Bouchiba, CEO and Mathias Corsia, CTO: Plug-and-play perception software to enable Innoviz LiDARs accompanied with 3D mapping, localization, object detection, and classification for mobility applications
o 2:00 pm - Vueron, Joseph Kim, CEO: Building an Autonomous Driving Platform for LiDAR-for passenger vehicles, autonomous delivery vehicles, and drivable testing vehicles.
o 3:30 pm - LOXO, Amin Amini, Founder & CEO: LiDAR sensors unlocking Level 5 autonomy on LOXO's zero-emission delivery vehicles
"We're happy to collaborate with partners from a variety of industries and are excited to welcome them to our booth, as they present their use-case supported by Innoviz's technology, said Tali Chen, Chief Business Officer at Innoviz. "We invite anyone who is interested to learn about the usage of LiDAR in ITS, Mapping, Maritime, smart infrastructure and so much more to join these live sessions."
To schedule a meeting with Innoviz at CES or inquire about InnovizOne LiDAR for your business, email ces@innoviz-tech.com.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 innoviz-tech.com.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact (US)
Rob Moffatt
VP, Corporate Development & IR
Innoviz Technologies
+1 (203) 665-8644
Investors@innoviz-tech.com
Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz and Outsight Announce Partnership to Accelerate LiDAR Adoption in Smart Cities and Industrial applications
December 14 2022 - 08:00AM
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89778137/innoviz-and-outsight-announce-partnership-to-accel
Partnership will combine Innoviz's high-performance LiDAR, InnovizOne, with Outsight's processing software solution, allowing seamless integration of 3D localization and perception technology for smart infrastructure, vehicle and industrial applications
PARIS and TEL AVIV, Israel, Dec. 14, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq:?INVZ) ("Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, today announced its partnership with Outsight. Outsight's Spatial Intelligence Software, the company's unique, real-time edge processing and cloud capability platform, offers a plug-and-play solution for effectively integrating 3D LiDAR data into any infrastructure, industrial or vehicle application.
Integration of InnovizOne LiDAR sensor and or Outsight’s software (PRNewsfoto/Innoviz Technologies)
Outsight's Software, together with Innoviz's LiDAR products will aim to facilitate and accelerate the adoption of 3D LiDAR technology beyond the ADAS market:
- Infrastructure applications: Intelligent transportation systems (ITS), security and people flow monitoring
- Commercial vehicle and robot applications: Construction equipment, logistics and service robotics
- Industrial applications: Volume measurement, industrial equipment, safety and agriculture
Innoviz's high-performance LiDAR sensors meet the automotive industry's strictest requirements for performance and safety. They are purpose-built to be rugged, affordable, reliable, power efficient, lightweight, high-performing and seamlessly integrable, and are ideally suited to enable a wide range of non-automotive use-cases that require mature solutions.
Outsight's Spatial Intelligence Software makes LiDAR technology easier to use in any project, both in real-time (edge processing) and the cloud, including essential features like LiDAR SLAM, object detection and tracking, classification and segmentation. As a recognized pioneer and leader of the LiDAR processing software category and a founding member of the LiDAR Coalition, of which Innoviz is also a founding member, Outsight's solutions have been widely embraced in a number of markets and dozens of different use cases throughout Europe, the United States, Asia and the Middle East.
"We aren't in the early days of LiDAR anymore. At that time demonstration-level sensor prototypes and research-level algorithms were sufficient to ignite the market and gave birth to the current leaders in LiDAR hardware and software. Non-automotive markets that will deploy LiDAR at scale require a whole new level of maturity, with high-performing and reliable hardware like Innoviz's LiDAR sensors, combined with scalable and easy to use software solutions like Outsight's." said Raul Bravo, President Co-Founder of Outsight. "We're glad to be working with Innoviz on innovative offerings thanks to the complementary technology and talent of both organizations."
"Our award-winning LiDAR technology is already being used to monitor pedestrian safety in Los Angeles, improve operational efficiency and safety across shipping ports in China, automate crane systems on construction sites in Japan and more," said Omer Keilaf, Co-Founder and CEO of Innoviz. "We're excited to partner with Outsight to continue to accelerate adoption of our LiDAR technologies and power use cases also across ITS, Smart infrastructure, smart industrial and more."
Outsight will demonstrate the collaboration with Innoviz LiDAR during CES 2023 at Innoviz's booth #6553 during the show dates, January 5-8, and will present the use-case with Innoviz LiDAR on Wednesday, January 5, 2pm, at Innoviz's booth #6553, followed by a Q&A session.
About Outsight
Outsight develops real-time 3D LiDAR perception solutions. Our mission is to make LiDAR-based spatial intelligence become plug-and-play, so it can be used by application specialists in any market. Using any LiDAR with our pre-processing capabilities allows smart machines and smart cities to achieve an unprecedented level of understanding of their environment. We believe that accelerating the adoption of LiDAR technology with easy-to-use and scalable software will highly contribute to create transformative solutions and products that will make a smarter and safer world. For more information, visit outsight.ai.
Media Contact - Outsight
Jean-François Kitten
+33 (0)6 11 29 30 28
jfk@outsight.tech
Avtansh Behal
+33 (0)7 69 53 08 25
a.behal@licencek.com
Anna Azarova
+33 (0)7 49 29 51 04
a.azarova@licencek.com
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 innoviz-tech.com.?
Join the discussion: Facebook, LinkedIn, YouTube, Twitter?
Media Contact - Innoviz Technologies
Media@innoviz-tech.com
Investor Contact (US)
Rob Moffatt
VP, Corporate Development & IR
Innoviz Technologies
+1 (203) 665-8644
Investors@innoviz-tech.com
Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz CEO outlines LiDAR landscape, long-term opportunity
Nov. 10, 2022
https://seekingalpha.com/news/3905926-innoviz-ceo-outlines-lidar-landscape-long-term-opportunity
In a crowded space for LiDAR technology companies, Innoviz (NASDAQ:INVZ) CEO Omer Keilaf is eminently confident in his company’s ability to outcompete.
“We see the industry as in a ‘winner takes most’ situation, given it is a technology that is very complicated and each company has very differentiated technology. Automakers’ appetite for choosing simply new technology is not high, which is why you are likely to see convergence around just a few players,” he told SeekingAlpha in an interview. “Airbags, which are in every car, are only offered by two suppliers, for example, and there are similar dynamics with ADAS scanners and brakes…anything that is related to functional safety tends to consolidate around two main suppliers.”
As such, the industry that now courts names like Luminar Technologies (LAZR), Cepton (CPTN) as well as proposed merger partners Ouster (OUST) and Velodyne (VLDR) is likely to be a more sparsely populated industry in the near future. Keilaf projected a “major shakeout” to come within the next twelve months.
Key to Competition
Given this stiff competition and propensity for the industry to whittle down to fewer players, Keilaf indicated a need to focus on technologies that can be used in the near term. While L5 technology is, of course, the end-goal, it is not likely to support young companies as they seek to lead the LiDAR industry in the near term.
“You want your customer to be able to ship their products eventually, otherwise you are just selling R&D capabilities,” he said. “The more relaxed the use case is, the more comfortable the automaker is going to be with the safety and validation of the technology to actually launch these capabilities.”
He noted that the Volkswagen (OTCPK:VWAGY) Cariad unit, BMW (OTCPK:BMWYY), as well as additional German and Asian automakers to be named later as key wins for Innoviz that signify the uptake among major automakers. Keilaf said that the German automakers are usually first movers in this space and offer a great deal of credibility to Innoviz (INVZ) and its LiDAR offerings given their pre-eminent status among automakers.
During the earnings call on Wednesday, Keilaf highlighted a $6.9B order book and a pipeline that includes 12 programs in the RFI or RFQ process and “two to three expected to make a decision in the next six months.”
Musings on Musk
In conversation, a consistent critic of LiDAR in Elon Musk inevitably entered the discussion.
“Lidar is a fool's errand,” Musk said during a 2019 event. “Anyone relying on lidar is doomed.”
Instead, the Tesla (TSLA) CEO suggested that autonomous vehicles would primarily need to focus on cameras, mimicking the human eye. The idea that LiDAR is a “crutch” for autonomous vehicles was seconded by analysts at ARK Invest. More recently, former AI chief Andrej Karpathy explained the automaker's choice to eschew LiDAR as rooted in concerns on supply chain and price among other issues. In the interview he went as far as to argue that other automakers may follow Tesla's (TLSA) lead in dropping sensors.
However, Keilaf was more skeptical about the impetus for Musk and Karpathy's pronouncements.
“There is nothing behind these statements. When [Tesla] was a younger company, of course they needed to make ambitious statements and strong claims. Also there was no LiDAR available at the right price or from an industrialization point of view,” Keilaf commented. “At the time this was the right decision in terms of building the car based upon those factors.”
In the future, he expects that Musk will need to adjust his perspective on LiDAR technologies based upon both safety requirements and industry dynamics.
“Relying on an image sensor that could be blurred by a drop of water or affected by low-light conditions, these are non-rare conditions that could cause failure,” Keilaf concluded. “They will have to go to LiDAR eventually. It will be a difficult mistake for them to admit, but they will have to admit it eventually. They offer Level 2 today, which they call FSD, but in reality it is Level 2. It is in no way concerning to us because in reality there are so many automakers making the decision on LiDAR already, so [his statements] are just something that brings more attention to our technology, so that is nice.”
Shares of the Israeli technology company carried nearly 13% higher near Thursday's market close.
Innoviz Technologies to Host a 3-Day Global Distributor Summit and Expand LiDAR Sales for Non-Automotive Markets
November 07 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89481603/innoviz-technologies-to-host-a-3-day-global-distri
Highlights
-Innoviz is announcing its first Global Distributor Summit as it ramps the production of InnovizOne to meet strong demand from automotive & non-automotive markets.
- Innoviz is hosting a 3-day Global Distributor Summit in its new Israeli headquarters from November 14-17 with partners and distributors from around the world, including Europe, North America, Japan, Taiwan and Korea already registered to attend. The summit will include various strategic, product and sales leadership sessions to promote the purchase and integration of InnovizOne into different customer applications.
TEL AVIV, Israel, Nov. 7, 2022 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced it significantly expanded its production capability and will host a Global Distributor Summit for its worldwide distributors that help customers purchase and integrate InnovizOne LiDAR. The summit will be at the Company's new headquarters in Israel from November 14-17, 2022, and support InnovizOne LiDAR sales for non-automotive markets beginning in Q4 2022 and ramping up into 2023.
Recent Innoviz deployments have led to global partnerships ranging from InnovizOne LiDAR installations in smart cities and ports, and for heavy machinery and geospatial mapping amongst other non-automotive applications.
InnovizOne is Innoviz's first high-end automotive LiDAR and has won the Company two design wins for series production which are nearing their launch. InnovizOne is currently produced on two parallel production lines in two different sites. The first is the production line in Holly, MI, which is owned by Magna and is serving the BMW program for the upcoming 2023 BMW 7 Series. The second is a production line at a contract manufacturer in Germany, which serves to support the autonomous shuttle program with a leading tier-1 automotive supplier and other customers. As part of the Company's preparation for these two automotive program launches, Innoviz went through rigorous stabilization, production and processes improvements. These improvements were implemented on all production lines used for InnovizOne and will serve to accelerate the ramp up of newer products such as InnovizTwo and Innoviz360.
Leveraging the scale, maturity and quality of the product for the automotive market, InnovizOne can also be used for non-automotive applications such as smart junctions, security, infrastructure monitoring, cranes, construction, automated guided vehicles (AGVs), heavy machinery, agriculture, ports, boats, drones and the aftermarket. In addition, InnovizOne can be used as a ground truth sensor for both the automotive and non-automotive markets to validate other LiDARs and sensors (e.g. cameras, radars). The production upgrades enable Innoviz to increasingly compete in both the automotive and non-automotive markets simultaneously for additional revenue opportunities.
"I am excited to welcome our partners and global distributors to our 3-day summit and look forward to working together to scale the use of our automotive product InnovizOne, everywhere," said Omer Keilaf, co-Founder and CEO of Innoviz. "With this increased throughput from the production upgrades, we will be able to address the growing demand from the non-automotive market with a shortened lead time while also serving our automotive customers. Industrialization is key to succeeding in the LiDAR space, and we're continuing to automate and advance our production lines to stay ahead of the competition."
Innoviz has built an ecosystem of more than 30 partners and distributors across North America, Asia-Pacific, Europe, the Middle East and Africa. By bringing together its growing ecosystem of global distributors for the 3-day summit, Innoviz is looking to further promote LiDAR as a high-resolution and durable product to address automotive and non-automotive use cases. Innoviz is calling additional partners and distributors into its ecosystem to accelerate the adoption of InnovizOne and its other LiDAR solutions globally.
"We recognize that distributors bring great value for sales with their regional and domain-specific knowledge," said Tali Chen, chief business officer of Innoviz. "We are excited to share our vision for how InnovizOne can benefit the non-automotive market with distributors and position us all for collaborative growth and success through the Global Distributor Summit."
To consider becoming a distributor or partner for Innoviz's LiDAR solutions and attend the Global Distributor Summit, please email sales@innoviz-tech.com.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 innoviz-tech.com.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact (US)
Rob Moffatt
VP, Corporate Development & IR
Innoviz Technologies
+1 (203) 665-8644
Investors@innoviz-tech.com
Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Latest Innoviz Institutional Ownership data
https://fintel.io/so/il/invz
Cheaper Solid-State LiDAR Sensors Drive The Future Of Level 3 Autonomy
BY SAM D. SMITH | POSTED ONOCTOBER 28, 2022
https://www.carscoops.com/2022/10/cheaper-solid-state-lidar-sensors-drive-the-future-of-level-3-autonomy/
LiDAR developers are seeing rising support from the automotive industry as the technology becomes more affordable, with the likes of General Motors and Volkswagen moving to pad their order books.
Although Tesla may still be on the fence about the tech, LiDAR is seen by many as a vital component of furthering self-driving tech. It commonly works in harmony with other camera-based systems to provide vital feedback on a car’s surroundings for safe automated driving. The industry is now shifting to new LiDAR technology with fewer moving parts. These mechanisms, known as hybrid solid-state and solid-state LiDAR, not only contribute to lowering the cost of these sensors but are also more fitting to the automotive environment. Although these versions have lower capabilities than the spinning technology, combining four to eight solid-state LiDAR sensors can match the performance of their mechanical counterparts, at a lower cost to boot.
According to Transport Topics, GM has hired Cepton, a San Jose, California-based company, as their LiDAR supplier for developing their Level 3 Ultra Cruise system. It’s the next step for GM, who’s SuperCruise ADAS (advanced driver assistance systems) has been employed since late 2017. SuperCruise is a Level 2 system, which is offered in models like the Cadillac Escalade, the GMC Hummer EV and Sierra, and the Chevrolet Silverado.
According to Transport Topics, Volkswagen is another notable automaker to employ solid-state LiDAR technology. Their driver assist technology, IQ Drive, first appeared in the 2021 Atlas and Atlas Cross Sport SUVs. Now VW’s software unit Cariad is shooting to develop advanced IQ Drive systems that enable limited hands-free driving. The firm has invested $4 billion in LiDAR sensors through Innoviz Technologies, claiming that this system will be available in future models.
Meanwhile, Chinese players are adding these sensors to their production vehicles too. Baidu, Pony.ai, and WeRide, for example, are already offering hybrid solid-state and solid-state sensors as part of their latest technology packages.
Robotaxis, such as Argo AI and Waymo, continue to plump for spinning LiDAR systems, as the use-case requires sensors to be of a high caliber. However, with BloombergNEF data suggesting that the cost of such packages can range between $35,000 and $100,000 per vehicle, it’s no wonder why mainstream makers are opting for solid-state tech.
Self-Driving Startups Have Lost $40 Billion In Stock Market Valuation In 2 Years
Oct 17, 2022,03:16pm EDT
https://www.forbes.com/sites/johnkoetsier/2022/10/17/self-driving-startups-have-lost-40-billion-in-stock-market-valuation-in-2-years/
Self-driving car and truck startups have lost a combined $40 billion in stock market valuation over the last two years, according to an analysis by Crunchbase, which keeps tabs on startup valuations.
Overall, the cohort of autonomous vehicle startups that Crunchbase tracked has declined 81% in value, from just over $51 billion when each debuted on the stock market to a current book value of just $9.16 billion. That includes spectacular flame-outs like Quanergy Systems, a solid-state sensor company down 99% since IPO, Otomo, a cloud-based car connection solution that is down 97%, and Embark Technologies, a self-driving truck technology startup that is also down 97%.
What's causing the downturn?
“It appears investors have mostly given up,” Crunchbase analyst Joanna Glasner says.
That’s not too hard to believe, given that in 2019 AI experts promised full self driving vehicles, at least on certain routes. We actually are starting to see that now, so they weren’t necessarily wrong, but the problem is that technology is taking longer than expected to become widely available. Perhaps more damaging, Elon Musk famously promised full level five self driving technology “this year” way back in 2020. That never happened, and Consumer Reports detailed significant flaws in Tesla’s technology later that year.
Few if any of the valuations were built on actual shipping product and real revenues, so Glasner’s explanation makes sense. Getting the technology to market in volume has been extremely challenging, and investors are not known for their patience. In yet another example, Reuters said Apple was planning to ship a self-driving car by 2024, which seems extremely unlikely at this point.
Where we seem to be seeing more innovation is autonomous single-purpose robots, whether they’re delivery drones, warehouse robots, or farm equipment. The challenges inherent in delivering these bounded technologies, while significant, are much less daunting than the open world of possibilities on our roads.
And the bar is set very high for regulators to unleash self-driving cars or autonomous trucks. Essentially, autonomous systems in public need to be better than humans.
“Simply achieving a system that has safety levels on par with a human is actually fairly tractable, in part because human failure modes are somewhat preventable, you know, things like inattention or aggressive driving,” Vlad Voroninski, CEO of autonomous vehicle training company Helm.ai told me in a TechFirst podcast. “But in truth even achieving that level of safety is not sufficient to launch a scalable fleet. Really what you need is something that’s much safer than a human. It needs to be fully interpretable for liability reasons, highly scalable, [and have] the ability to kind of go into new places very quickly and highly cost effective. And achieving all of these things simultaneously is quite hard.”
That’s taking some time. And investors’ love affair with the space has not lasted, Glasner says.
It is important to note that there are some winners in the group, even though almost every company is down from its IPO price. LIDAR maker Innoviz, while down 53% from its IPO, continues to innovate and has consistently racked up customer after customer. Most recently that includes a $4 billion contract with Volkswagen for millions of its sensors.
So there is still innovation, and there’s still a huge amount of value available for startups that achieve product-market fit and find customers.
But it also might be a good time for vehicle manufacturers to look at distressed startups that might be available as aqui-hires, providing technology and personnel to speed up their own autonomous vehicle efforts.
Innoviz Sets Third Quarter 2022 Conference Call for Wednesday, November 9 at 9:00 a.m. ET
October 26 2022 - 07:00AM
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89384218/innoviz-sets-third-quarter-2022-conference-call-fo
TEL AVIV, Israel, Oct. 26, 2022 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ), a leading provider of high performance, solid-state LiDAR sensors and perception software, today announced that it will release its earnings results for the third quarter ended September 30, 2022 on Wednesday, November 9, 2022 before the market opens.
Innoviz will host a conference call and webinar on the same day at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss its operational and financial results followed by a question-and-answer session for the investment community. Operational and financial results will be issued in a press release prior to the call.
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 Technologies
Innoviz is a global leader in LiDAR technology, 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 U.S., 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 www.innoviz-tech.com
Innoviz Institutional Ownership https://fintel.io/so/il/invz
|
Followers
|
12
|
Posters
|
|
|
Posts (Today)
|
0
|
Posts (Total)
|
215
|
|
Created
|
07/28/20
|
Type
|
Free
|
| Moderators WeTheMarket | |||
