Innoviz Technologies (NASDAQ:INVZ – Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07), Zacks reports. The business had revenue of $12.10 million for the quarter, compared to analysts’ expectations of $19.00 million. Innoviz Technologies had a negative return on equity of 137.96% and a negative net margin of 171.19%.
Here are the key takeaways from Innoviz Technologies’ conference call:
- Third-quarter revenue was $12.1 million, below expectations, as a customer pushed its SOP timeline and related NRE milestones into 2027. Innoviz lowered full-year revenue guidance to $44 million–$46 million; gross margin was negative 10.3%.
- Innoviz expects its fourth-quarter realignment—including an approximately 20% workforce reduction—to deliver $17.5 million in annualized savings, with the savings taking effect in Q1. Management said its runway extends well into 2028 without assuming a new fundraising or ATM offering.
- Defense and homeland security contributed about 10% of Q3 revenue, and Innoviz expects the business to reach 20%–30% of revenue next year, with volume orders anticipated in the first half of 2027. That outlook depends on converting evaluations and partnership discussions into orders; several opportunities remain unawarded.
- Automotive programs with VW, Daimler Truck, and Audi were described as progressing on schedule, while one customer’s delayed SOP is expected to shift a large portion of NRE revenue into 2027. Management said the delay was unrelated to LiDAR performance and does not expect additional costs for production launches.
Innoviz Technologies Trading Down 6.5%
INVZ traded down $0.01 on Friday, reaching $0.17. The company had a trading volume of 878,294 shares, compared to its average volume of 3,201,199. The company has a fifty day moving average of $0.29 and a 200-day moving average of $0.58. Innoviz Technologies has a one year low of $0.13 and a one year high of $1.45. The company has a market capitalization of $37.33 million, a P/E ratio of -0.47 and a beta of 1.58.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on INVZ shares. JPMorgan Chase & Co. cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday. Weiss Ratings downgraded Innoviz Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.00.
View Our Latest Research Report on Innoviz Technologies
About Innoviz Technologies
Innoviz Technologies Ltd. (NASDAQ: INVZ) develops lidar sensors and perception software for the automotive industry. Its technology is designed to help vehicles detect and interpret their surroundings for advanced driver-assistance systems (ADAS) and autonomous driving applications. The company’s solutions are intended to provide three-dimensional sensing, object detection and mapping capabilities in a range of driving environments. Innoviz’s product portfolio includes the InnovizOne and InnovizTwo lidar platforms, along with related perception software and supporting technologies.
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