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Innoviz Technologies (INVZ)
NASDAQ:INVZ
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Innoviz Technologies
(NASDAQ:INVZ)
40Underperform
Positive Factors
Manufacturing Capacity
Innoviz Technologies is expanding its contract manufacturing capacity significantly, which is expected to support increased production for existing customers.
Technology Development
Innoviz Technologies is advancing in technology development, reaching the C-sample stage for its InnovizTwo LiDAR sensors and focusing on validating production quality.
Negative Factors
Cash Flow
Reported a decrease in cash and cash equivalents, with net cash used in operations and capex combined at ~$17.7M.
Revenue Expectations
Downgraded to Neutral due to lower revenue expectations and slower-than-expected ramp-up in product shipments.
Innoviz Technologies (INVZ) vs. S&P 500 (SPY)
Market Cap
$139.21M
Dividend YieldN/A
Average Volume (3M)9.58M
Price to Earnings (P/E)―
Beta (1Y)2.97
Revenue Growth16.25%
EPS Growth32.95%
CountryUS
Employees488
SectorConsumer Cyclical
Sector Strength51
IndustryVehicles
Share Statistics
EPS (TTM)-0.57
Shares Outstanding198,961,960
10 Day Avg. Volume3,866,054
30 Day Avg. Volume9,578,327
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)5.85
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.63Price Target Upside275.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Innoviz Technologies Business Overview & Revenue Model
Company DescriptionInnoviz 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.
How the Company Makes MoneyInnoviz Technologies generates revenue primarily through the sale of its LiDAR sensors and perception software to automotive manufacturers, original equipment manufacturers (OEMs), and Tier 1 suppliers. The company enters into strategic partnerships with these entities to integrate its technology into their vehicle platforms. Additionally, Innoviz licenses its perception software, which processes the data collected by its sensors to create a precise 3D model of the vehicle's surroundings. This software can be offered as a standalone product or bundled with the sensors. Innoviz's business model is significantly supported by long-term supply agreements and collaborations with leading automotive companies, which help secure consistent revenue streams.
Innoviz Technologies Financial Statement Overview
Summary
Innoviz Technologies is experiencing revenue growth and improving its balance sheet. However, continued profitability challenges and negative cash flow indicate financial instability. The company must address these issues to achieve sustainable growth.Income Statement
Innoviz Technologies has shown a significant increase in total revenue from 2023 to 2024. However, the company remains unprofitable with negative gross profit margins and net profit margins. Despite the revenue growth, the negative EBIT and EBITDA margins indicate ongoing operational challenges.40
Negative
Balance Sheet
The company's debt-to-equity ratio is relatively low, which indicates a conservative approach to leverage. However, the negative equity in previous years reflects financial instability, although there has been improvement in recent years. The equity ratio remains low due to liabilities, suggesting potential risks.45
Neutral
Cash Flow
Innoviz Technologies has a negative free cash flow, although it has improved from the previous year. The operating cash flow to net income ratio is low, highlighting cash flow challenges in covering operational needs. The company needs to enhance liquidity and cash flow generation capabilities.35
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 24.27M | 20.88M | 6.03M | 5.47M | -9.36M | Gross Profit |
| -1.16M | -11.61M | -8.76M | -5.02M | -15.77M | EBIT |
| -101.92M | -132.60M | -133.35M | -157.65M | -81.98M | EBITDA |
| -94.13M | -123.41M | -126.24M | -153.69M | -79.82M | Net Income Common Stockholders |
| -94.76M | -123.45M | -126.87M | -153.56M | -81.51M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 67.95M | 145.37M | 178.08M | 265.73M | 49.95M | Total Assets |
| 132.05M | 219.23M | 255.43M | 327.22M | 72.56M | Total Debt |
| 29.59M | 32.51M | 33.92M | 0.00 | 2.50M | Net Debt |
| 4.23M | 6.23M | -21.80M | -23.64M | -47.45M | Total Liabilities |
| 53.12M | 65.94M | 63.42M | 28.42M | 296.31M | Stockholders Equity |
| 78.93M | 153.29M | 192.02M | 298.80M | -223.75M |
| Cash Flow | Free Cash Flow | |||
| -81.37M | -99.63M | -115.98M | -88.14M | -67.06M | Operating Cash Flow |
| -76.95M | -93.05M | -93.41M | -84.35M | -61.94M | Investing Cash Flow |
| 75.47M | 1.06M | 125.35M | -281.60M | 29.59M | Financing Cash Flow |
| 224.00K | 61.86M | 609.00K | 339.01M | 8.94M |
Innoviz Technologies Technical Analysis
Negative
0.70
Price Trends
1.07
Negative
1.04
Negative
0.91
Negative
Market Momentum
-0.08
Negative
36.10
Neutral
49.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INVZ, the sentiment is Negative. The current price of 0.7 is above the 20-day moving average (MA) of 0.69, below the 50-day MA of 1.07, and below the 200-day MA of 0.91, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 36.10 is Neutral, neither overbought nor oversold. The STOCH value of 49.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INVZ.
Innoviz Technologies Risk Analysis
Innoviz Technologies disclosed 47 risk factors in its most recent earnings report. Innoviz Technologies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Innoviz Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $12.60B | 11.17 | 0.97% | 3.72% | 1.34% | -21.34% | |
58 Neutral | $603.79M | ― | -53.83% | ― | 33.41% | 81.07% | |
55 Neutral | $312.72M | ― | -134.07% | ― | 277.53% | 1.16% | |
53 Neutral | $317.34M | ― | -92.90% | ― | 110.23% | 12.96% | |
43 Neutral | $12.14M | ― | -160.65% | ― | -86.20% | 67.94% | |
40 Underperform | $139.21M | ― | -81.61% | ― | 16.25% | 32.95% | |
27 Underperform | $248.98M | ― | 146.24% | ― | 27.61% | 40.95% |
* Consumer Cyclical Sector Average
Performance Comparison
INVZ
Innoviz Technologies
0.67
-0.68
-50.37%
MVIS
Microvision
1.30
-0.54
-29.35%
LAZR
Luminar Technologies
6.15
-23.40
-79.19%
AEVA
Aeva Technologies
6.38
2.45
62.34%
OUST
Ouster
9.98
2.04
25.69%
LIDR
AEye Inc
0.66
-0.59
-47.20%
Innoviz Technologies Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: -13.58% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements in revenue growth, partnerships, and cash management improvements. However, challenges such as high cash burn and dependence on NRE payments remain. The sentiment is cautiously optimistic with a focus on strategic growth and financial resilience.Highlights
Strong Revenue Growth
Full-year revenues for Innoviz reached $24.3 million in 2024, compared to $20.1 million in 2023, exceeding the midpoint of the guidance range.
Improved Cash Management
Cash used in operations and capital expenditures decreased to $81.4 million from $99.6 million in 2023.
NRE Payment Plan
Innoviz entered into an $80 million NRE payments plan with key customers, with over $40 million expected in 2025.
Partnership with Mobileye
The partnership with Mobileye resulted in several new OEM programs, potentially serving customers across three major AV platforms.
Operational Optimization
Innoviz announced operational optimizations expected to deliver approximately $12 million in savings on an annualized basis.
Registered Direct Offering
A registered direct offering generated gross proceeds of approximately $40 million, enhancing the financial position of Innoviz.
Gross Profit Achievement
Innoviz generated a gross profit for the first time in Q4 2024.
Lowlights
High Cash Burn
Despite improvements, Innoviz had a significant cash burn, ending 2024 with $68 million in cash and cash equivalents.
Dependency on NRE Payments
The company's financial health relies heavily on the timely receipt of NRE payments, which are subject to customer milestones.
Geopolitical and Tariff Concerns
Potential tariff implications and geopolitical tensions could impact production and RFIs/RFQs, particularly in North America.
Company Guidance
During the Innoviz Q4 and Full-Year 2024 Earnings Conference Call, the company discussed its financial achievements and future guidance. Innoviz reported full-year revenues of $24.3 million, surpassing the midpoint of their guidance range, and a reduction in cash used in operations and capital expenditures to $81.4 million from $99.6 million in 2023. They ended 2024 with $68 million in cash and cash equivalents. The company announced an $80 million NRE payment plan with key customers, with over $40 million expected in 2025. Additionally, a registered direct offering in February 2025 generated $40 million in gross proceeds. Innoviz projects a twofold increase in revenues for 2025, expecting to reach $50 million to $60 million with a positive gross margin. They anticipate $20 million to $50 million in additional NRE bookings in 2025. The company also highlighted operational optimizations expected to save approximately $12 million annually. Innoviz's partnerships with Mobileye and integration with NVIDIA platforms position them to expand their market presence, including new ventures outside the automotive industry.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.