Innoviz Technologies (INVZ) announced an optimization of its operations to extend the company’s cash runway and accelerate its progress towards profitability and free cash flow generation. To maximize efficiencies, the company will de-emphasize segments where development efforts have reached maturity. As a result of these actions, the company’s headcount will be reduced by approximately 9%; in conjunction with other opportunities, the company expects the realignment to deliver cost savings of approximately $12M in 2025. The company continues to target start of production for customers in 2026. Cash savings are expected to begin in Q1 2025, with run rate savings expected to be achieved by the end of Q2 2025. Cash costs associated with the strategic actions are expected to be minimal.
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