Innoviz Technologies (INVZ) AI Stock Analysis

• Market Cap: $149.84M
• Dividend Yield: N/A
• Average Volume (3M): 2.46M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.85
• Revenue Growth: 46.09%
• EPS Growth: 46.01%
• Country: US
• Employees: 415
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -0.10
• Shares Outstanding: 214,523,560
• 10 Day Avg. Volume: 3,145,141
• 30 Day Avg. Volume: 2,457,131
• PEG Ratio: 0.06
• Price to Book (P/B): 2.19
• Price to Sales (P/S): 3.10
• P/FCF Ratio: -3.28
• Enterprise Value/Market Cap: 1.37
• Enterprise Value/Revenue: 3.73
• Enterprise Value/Gross Profit: 15.94
• Enterprise Value/Ebitda: -3.35
• 1Y Price Target: $1.25
• Price Target Upside: 76.06% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.28
• Revenue Forecast (FY): $83.33M

• Rating: 47 Neutral
• Price Target: $0.70 ▼(-1.69% Downside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is held down primarily by weak financials—large losses and persistent cash burn despite improving revenue and gross margins. Technicals also remain bearish with the stock trading below major moving averages. These are partially offset by a more positive earnings call outlook, including 2026 growth guidance and production ramp expectations, while valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Sustained Revenue Growth

Double-digit and >100% YoY revenue growth in 2025 signals durable demand and successful design wins. Sustained top-line expansion over 2–3 years improves fixed-cost absorption, supports scale economics, and increases probability of reaching production-driven profitability if conversions continue.

Marquee OEM Wins & Product Fit

Selection by large OEMs and fleet customers validates technology and accelerates series-production cadence. Marquee engagements reduce commercialization risk, create multi-year supply opportunities, and strengthen competitive position versus smaller suppliers in autonomous and commercial vehicle markets.

Large NRE Backlog & Production Ramp

A sizable NRE backlog provides multi-period revenue visibility and helps fund integration to SOP. Coupled with a planned 3x–4x manufacturing ramp, this underpins predictable near-term volumes and unit-cost reduction potential that can materially improve margins as production scales.

Negative Factors

Operating Losses Persist

OpEx materially exceeding revenue indicates structural unprofitability absent substantial revenue scaling or further cost cuts. Persistent operating deficits will require continued funding, constrain returns, and prolong the timeline to sustainable free-cash-flow generation unless unit economics improve markedly.

Negative Cash Generation

Consistent negative operating and free cash flow creates runway and dilution risk. Even with burn improvement, the company needs ongoing financing or rapid margin expansion to fund production ramps and commercialization costs, making capital structure and access to funding a persistent strategic constraint.

Dependence on NRE & Conversion Risk

A large portion of recent revenue stems from NREs rather than recurring product sales. If NRE recognition slows or design wins fail to convert to series production, revenue, and margins could decline. Long-term stability requires converting NRE-funded integrations into repeat production orders.

Innoviz Technologies Business Overview & Revenue Model

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.

How the Company Makes Money

Innoviz makes money primarily by selling lidar-related products and services to customers developing driver-assistance and automated-driving systems. Key revenue streams typically include: (1) Lidar hardware sales: revenue from supplying lidar sensors/modules (and associated components) to customers, which may occur in phases such as engineering samples, development units, and—if a program reaches series production—higher-volume production shipments. (2) Software and related solutions: revenue tied to perception software and other lidar-enabled software functionality that supports object detection/classification and sensor operation; if specific licensing or recurring software arrangements are not publicly specified for a given period, null. (3) Non-recurring engineering (NRE) and development services: revenue from engineering, customization, integration support, testing, and validation work performed for OEMs and tier-1 suppliers during the design-in and pre-production phases of vehicle programs; these can be structured as service fees/milestone payments depending on contract terms. (4) Collaboration/partnership-driven program revenue: revenue influenced by commercial wins and long-term supply relationships with automotive OEMs and/or tier-1 suppliers; the precise names, terms (pricing, volumes, duration), and whether revenue is contingent on production milestones vary by agreement—if a specific partnership’s commercial terms are not available, null. Overall earnings potential is highly dependent on converting design wins into series-production contracts, achieving automotive-grade manufacturing and cost targets, and scaling unit shipments as customer vehicle programs move from development to production.

Innoviz Technologies Financial Statement Overview

Summary

Revenue and gross margin improved meaningfully (TTM revenue ~$55.1M, gross margin ~23.5% versus negative in prior years), but the company remains far from breakeven with very large losses (net margin about -134%) and substantial cash burn (TTM operating cash flow about -$47.8M; free cash flow about -$52.0M). Balance sheet leverage is moderate (debt-to-equity ~0.39) with positive equity (~$77.7M), but weak returns and ongoing losses remain the key financial risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue rose to ~$55.1M (up ~13.7%), and gross margin improved to ~23.5% versus negative gross margin in 2022–2024, signaling better unit economics. However, profitability remains deeply negative, with EBIT and net losses still larger than revenue (net margin about -134%), indicating the company is not yet close to breakeven despite progress.

Balance Sheet

Leverage looks moderate with debt-to-equity around 0.39 in TTM (Trailing-Twelve-Months) and equity remaining positive (~$77.7M), providing some balance-sheet support. The key weakness is continued heavy losses driving very weak returns on equity (about -71% TTM), which can pressure equity over time if profitability does not improve.

Cash Flow

Cash generation remains a major drawback: TTM (Trailing-Twelve-Months) operating cash flow was about -$47.8M and free cash flow about -$52.0M, with free cash flow worsening versus the prior year (growth ~-14.8%). A positive sign is burn improvement compared with 2023–2024 levels, but the business is still consuming substantial cash and will likely need continued funding until margins and operating costs improve further.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	55.09M	24.27M	20.88M	6.03M	5.47M
Gross Profit	12.90M	-1.16M	-11.61M	-8.76M	-5.02M
EBITDA	-61.86M	-94.13M	-123.41M	-125.88M	-153.69M
Net Income	-67.80M	-94.76M	-123.45M	-126.87M	-153.56M
Balance Sheet
Total Assets	138.45M	132.05M	219.23M	255.43M	327.22M
Cash, Cash Equivalents and Short-Term Investments	72.13M	67.95M	145.37M	178.08M	265.73M
Total Debt	64.55M	29.59M	32.51M	33.92M	0.00
Total Liabilities	60.73M	53.12M	65.94M	63.42M	28.42M
Stockholders Equity	77.72M	78.93M	153.29M	192.02M	298.80M
Cash Flow
Free Cash Flow	-52.01M	-81.37M	-99.63M	-115.98M	-86.31M
Operating Cash Flow	-47.76M	-76.95M	-93.05M	-93.41M	-82.52M
Investing Cash Flow	-21.39M	75.47M	1.06M	125.35M	-281.60M
Financing Cash Flow	51.47M	224.00K	61.86M	609.00K	337.18M

Innoviz Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.71
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 0.71 is below the 20-day moving average (MA) of 0.81, below the 50-day MA of 0.94, and below the 200-day MA of 1.41, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 30.63 is Neutral, neither overbought nor oversold. The STOCH value of 15.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INVZ.

Innoviz Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HSAI	62 Neutral	$3.85B	26.76	8.00%	―	43.16%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
LIDR	55 Neutral	$117.45M	-12.53	-72.75%	―	-19.11%	73.51%
AEVA	48 Neutral	$913.82M	-5.21	9999.00%	―	89.90%	5.13%
INVZ	47 Neutral	$149.84M	-2.52	-73.64%	―	46.09%	46.01%
OUST	47 Neutral	$1.32B	-20.19	-26.89%	―	30.20%	35.80%

Innoviz Technologies Corporate Events

Innoviz Doubles 2025 Revenue and Wins New Autonomous Truck Deal as It Sets 2026 Targets

On February 25, 2026, Innoviz Technologies reported that 2025 revenues more than doubled year over year to $55.1 million, driven by non-recurring engineering services and LiDAR unit sales, while operating expenses fell 20% to $80.6 million and liquidity stood at $72.1 million at year-end. The company highlighted record gross margins, ongoing cost discipline, and a strengthened balance sheet as it scales production and seeks to cement its position as a large-scale LiDAR supplier.

Management detailed a pivotal 2025 marked by new automotive wins, including selection by Daimler Truck and Torc Robotics for Level 4 autonomous Class 8 trucks in North America and continued progress on Level 3 and Level 4 programs with Mobileye, Volkswagen and other OEMs. Innoviz also expanded its Physical AI offerings with the launch of InnovizThree for behind-the-windshield deployment and growing traction for its InnovizSMART and InnovizSMARTer solutions in perimeter security and other non-automotive markets.

Looking ahead to 2026, the company set targets for revenues of $67 million to $73 million, 2–3 new program wins, and up to 10% of sales from non-automotive LiDAR applications, alongside $20 million to $30 million in new NRE payment plans. These goals underscore Innoviz’s strategy to deepen its presence in both automotive and adjacent sectors, leveraging its expanding product suite to capture rising demand for Level 3 and Level 4 autonomy and broader sensing applications.

The most recent analyst rating on (INVZ) stock is a Hold with a $0.95 price target. To see the full list of analyst forecasts on Innoviz Technologies stock, see the INVZ Stock Forecast page.