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Innoviz Technologies (INVZ)
NASDAQ:INVZ
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.14Last Year’s EPS
-$0.18Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: 82.29%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue performance and significant technological advancements, along with new OEM partnerships that promise future growth. However, challenges remain with revenue variability and ongoing cash burn, though both are being actively managed.Company Guidance
During the Q3 2024 earnings call for Innoviz, CEO Omer Keilaf highlighted several key financial metrics and operational achievements. The company reported revenues of $4.5 million, surpassing the midpoint of their guidance range of $3.5 million to $5 million. Innoviz also significantly reduced their cash used in operations and capital expenditures by approximately 38%, from $28.6 million in Q3 2023 to $17.7 million this quarter. The company maintained a strong cash position with $87.7 million in cash and equivalents. Looking ahead, Innoviz provided a revenue guidance range of $23.5 million to $25 million for the full year 2024 and expressed confidence in achieving $20 million to $70 million in new bookings. Moreover, the company celebrated securing two new OEM programs expected to begin production in 2026, marking a milestone in their strategic growth initiatives.Revenue Exceeds Guidance
Q3 2024 revenue reached $4.5 million, surpassing the midpoint of the guidance range ($3.5 million to $5 million).
New OEM Partnerships
Entered 2 new OEM programs expected to start production in 2026, with potential for significant revenue growth.
Cash Burn Reduction
Reduced cash used in operations and capital expenditures by approximately 38% from $28.6 million in Q3 2023 to $17.7 million in Q3 2024.
Technological Advancements
Introduced new innovations in LiDAR technology, including improved range and resolution, and unique IR imaging capabilities.
Partnership with Volkswagen
Progress in partnership with Volkswagen, including development on Level 3 and Level 4 platforms with successful audits and development gates.
Guidance for Full-Year Revenue
Full-year 2024 revenue guidance set at $23.5 million to $25 million, up from $20.9 million in 2023.
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INVZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INVZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $0.58 | $0.52 | -10.34% |
| Aug 07, 2024 | $0.74 | $0.69 | -6.76% |
| May 08, 2024 | $1.12 | $1.30 | +16.07% |
| Feb 28, 2024 | $1.68 | $1.61 | -4.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Innoviz Technologies (INVZ) report earnings?
Innoviz Technologies (INVZ) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Innoviz Technologies (INVZ) earnings time?
Innoviz Technologies (INVZ) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INVZ EPS forecast?
INVZ EPS forecast for the fiscal quarter 2024 (Q4) is -$0.14.
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