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1. Company Snapshot

1.a. Company Description

Innoviz Technologies Ltd.designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles.The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.


Its automotive-grade sensor is integrable into Level 3 through 5 autonomous vehicles for the safety of passengers and pedestrians.The company also provides InnovizTwo, an automotive-grade LiDAR sensor that offers a solution for all levels of autonomous driving, as well as an option to integrate the perception application in the LiDAR sensor; Innoviz360, a 360-degree LiDAR for automotive and non-automotive applications; and perception application, a software application that turns the InnovizOne LiDAR's raw point cloud data into perception outputs to provide scene perception and deliver an automotive-grade ASIL B(D) solution.It operates in Europe, Asia Pacific, the Middle East, Africa, and North America.


Innoviz Technologies Ltd.was incorporated in 2016 and is headquartered in Rosh HaAyin, Israel.

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1.b. Last Insights on INVZ

Here is a 90-word analysis of the positive drivers behind Innoviz Technologies' recent performance: Innoviz Technologies' recent performance was driven by its optimization of operations, expected to reduce cash outlays by $12 million annually, and a $40 million registered direct offering, strengthening its financial position. The company's Q4 2024 earnings report showed a narrower-than-expected loss, and its partnership announcements with Mobileye and NVIDIA position it for future growth. Additionally, Innoviz expects to receive over $40 million in NRE payments from existing programs in 2025, and its sales of LiDAR products and new programs are expected to generate additional revenues throughout 2025.

1.c. Company Highlights

2. Innoviz Technologies Ltd. Shines with Strong Q3 2025 Earnings

Innoviz Technologies Ltd. reported a robust third quarter in 2025, with revenues reaching $15.3 million, marking a significant 238% year-over-year increase. The company's year-to-date revenues stood at $42.4 million, approximately 2.3 times more than in the same period of 2024. The earnings per share (EPS) came in at -$0.07, in line with analyst estimates. The company's cash burn in the quarter was $14 million, and is expected to decline sequentially, in line with guidance. Innoviz Technologies ended Q3 with approximately $74.4 million in cash, cash equivalents, short-term deposits, and marketable securities on the balance sheet, and has no long-term debt.

Publication Date: Nov -17

📋 Highlights
  • Revenue Surge: Q3 2025 revenues hit $15.3M (238% YoY growth), with YTD reaching $42.4M (230% YoY increase).
  • Full-Year Guidance: Projects $50M–$60M revenue (100–200% YoY growth) from $25M–$30M in 2024.
  • Liquid Assets: Ended Q3 with $74.4M cash (no debt) despite $14M quarterly burn, expecting sequential reduction.
  • Shipment Growth: Increased shipments by an order of magnitude (10x) in Q3, driven by Innoviz Three’s 60% smaller form factor and cost improvements.
  • Commercial Momentum: Secured a major L4 autonomous truck OEM contract, alongside L3/L4 automotive wins and non-automotive Innoviz Smart expansion into security/ITS markets.

Operational Highlights and Product Developments

The company recently announced a major commercial vehicle OEM has selected it for future sales production of level four autonomous trucks. This agreement, alongside its existing level three and level four automotive wins, and the recent ramp of the Innoviz Smart for non-automotive applications, showcases Innoviz Technologies Ltd.'s expanding momentum across all segments of the LiDAR space. The company is also making significant strides in product development, introducing the Innoviz Three, a revolutionary LiDAR solution that enables mission-critical safety requirements across various end markets.

Growth Prospects and Competitive Landscape

Innoviz Technologies Ltd. expects growth in level three and level four applications, with some OEMs looking at urban level three and others planning to add level four capabilities. The company anticipates significant performance improvements with Innoviz Three, including a 60% volume reduction and power consumption reduction. It expects to launch its first level three program in 2027. The competitive landscape for automotive LiDAR solutions is seen as limited, with some competitors facing financial pressure and geopolitical challenges.

Valuation and Estimates

Analysts estimate next year's revenue growth at 44.7%. The current P/S Ratio stands at 7.23, indicating a premium valuation. The company's ROE and ROIC are negative, at -80.09% and -57.15%, respectively, reflecting the current stage of its growth. With a significant cash reserve and no long-term debt, the company's financial position is robust.

Future Outlook

Innoviz Technologies Ltd. is poised for growth with the deployment of level four vehicles and the ramp of contract wins under the Mobileye Drive platform. It also anticipates increased revenue from its Innoviz Smart solution, which unlocks opportunities in various applications, including security. The company is expected to announce details of its level four commercial OEM win in several weeks, with multiple sensors per vehicle.

3. NewsRoom

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Daimler Truck and Torc Robotics Select Innoviz Technologies as LiDAR Partner for Series Production of Level 4 Autonomous Trucks

Dec -02

Source: prnewswire.com

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Innoviz Technologies Ltd. (INVZ) Presents at Barclays 16th Annual Global Automotive and Mobility Tech Conference Transcript

Nov -20

Source: seekingalpha.com

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Innoviz Technologies: Can Growth Outrun Cash Burn?

Nov -18

Source: seekingalpha.com

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

Nov -12

Source: seekingalpha.com

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Innoviz Technologies Ltd. (INVZ) Reports Q3 Loss, Misses Revenue Estimates

Nov -12

Source: zacks.com

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Innoviz Reports Third Quarter 2025 Results

Nov -12

Source: prnewswire.com

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Ouster vs. Innoviz: Which LiDAR Powerhouse is a Safer Bet?

Oct -24

Source: zacks.com

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Innoviz Sets Third Quarter 2025 Conference Call for Wednesday, November 12 at 9:00 a.m. ET

Oct -22

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (19.70%)

6. Segments

LiDAR Sensors

Expected Growth: 19.7%

Innoviz Technologies Ltd.'s LiDAR sensors growth is driven by increasing adoption in autonomous vehicles, rising demand for advanced driver-assistance systems (ADAS), and growing need for high-resolution 3D mapping in industries like surveying and agriculture. Additionally, the company's cost-effective and high-performance LiDAR solutions are gaining traction, contributing to the 19.7% growth.

7. Detailed Products

InnovizOne

A high-resolution, solid-state LiDAR sensor designed for automotive and industrial applications, offering high accuracy and reliability.

InnovizTwo

A high-performance, solid-state LiDAR sensor designed for advanced driver-assistance systems (ADAS) and autonomous vehicles, offering high-resolution 3D point clouds.

InnovizSoftware

A suite of software development kits (SDKs) and tools for processing and analyzing 3D point cloud data, enabling developers to create innovative applications.

InnovizFusion

A perception software that fuses data from various sensors, including LiDAR, cameras, and radar, to provide a comprehensive and accurate view of the environment.

8. Innoviz Technologies Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Innoviz Technologies Ltd. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the evolving nature of the autonomous vehicle industry.

Bargaining Power Of Customers

Innoviz Technologies Ltd. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are highly specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Innoviz Technologies Ltd. relies on a few key suppliers for critical components, which gives these suppliers some bargaining power. However, the company's strong relationships with its suppliers and its ability to negotiate favorable terms mitigate this risk.

Threat Of New Entrants

The autonomous vehicle industry is rapidly evolving, and new entrants are emerging with innovative technologies. Innoviz Technologies Ltd. must continue to innovate and differentiate itself to maintain its market position.

Intensity Of Rivalry

The autonomous vehicle industry is highly competitive, with multiple players vying for market share. Innoviz Technologies Ltd. must focus on differentiating itself through its technology and customer relationships to maintain its competitive edge.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 17.50%
Debt Cost 3.95%
Equity Weight 82.50%
Equity Cost 9.14%
WACC 8.24%
Leverage 21.21%

11. Quality Control: Innoviz Technologies Ltd. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Kendrion

A-Score: 5.4/10

Value: 7.9

Growth: 1.6

Quality: 3.6

Yield: 6.2

Momentum: 8.0

Volatility: 5.3

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Value: 8.4

Growth: 4.3

Quality: 2.6

Yield: 6.9

Momentum: 4.0

Volatility: 2.3

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ElringKlinger

A-Score: 4.6/10

Value: 10.0

Growth: 1.9

Quality: 3.0

Yield: 3.8

Momentum: 6.0

Volatility: 3.0

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Garrett Motion

A-Score: 4.5/10

Value: 7.1

Growth: 1.8

Quality: 5.8

Yield: 0.6

Momentum: 10.0

Volatility: 2.0

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Nokian Renkaat

A-Score: 4.4/10

Value: 8.1

Growth: 1.0

Quality: 2.6

Yield: 8.1

Momentum: 3.0

Volatility: 3.7

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Innoviz Technologies

A-Score: 4.4/10

Value: 6.4

Growth: 6.0

Quality: 3.7

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.32$

Current Price

1.32$

Potential

-0.00%

Expected Cash-Flows