Quarterly Revenue
Reported Q1 2026 revenues of $7.1 million, with management stating purchase orders are in place for delayed NRE milestones and expectation to recognize those revenues in coming quarters.
Full-Year Revenue Outlook
Reiterated 2026 revenue target of $67–$73 million, representing approximately 27% year-over-year growth versus 2025.
Record Unit Shipments and Production Ramp
Shipped a record number of units in Q1; Q1 shipments were roughly half (~50%) of total units shipped in all of 2025. Fabrinet production ramp progressing well with further acceleration expected in H2 2026.
Strong Cash Position and No Long-Term Debt
Ended the quarter with approximately $60.1 million in cash, cash equivalents, short-term deposits and marketable securities and reported no long-term debt on the balance sheet.
Product and Technology Advancements
Launched InnovizTwo Ultra-Long Range (ULR) LiDAR with up to 1 km sensing and greater point-cloud density; introduced Innoviz3 (smaller form factor with optional color). Also announced InnovizSMART availability for defense and security markets.
Diversification and New End Markets
Announced entry into defense and homeland security with early traction (Kela partnership; agreement with a large holding group including a prepayment and completed installation). Company expects non-automotive physical AI revenues to rise to up to 10% of revenues in 2026 from ~1% in 2025 (increase of ~9 percentage points).
Robust Commercial Pipeline and New Programs
Management reported a robust pipeline (over 100 open opportunities referenced), expects to add 2–3 new programs in 2026, and plans $20–$30 million of new NRE payments in addition to existing plans. Ongoing automotive SOP progression with Volkswagen, Mobileye, Daimler Truck, and LOI with LOXO for last-mile delivery.