Innoviz Technologies (NASDAQ:INVZ) Releases Quarterly Earnings Results, Meets Estimates

Innoviz Technologies (NASDAQ:INVZ) announced its quarterly earnings results on Wednesday. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports. The firm had revenue of $18.08 million for the quarter, compared to analyst estimates of $16.33 million. Innoviz Technologies had a negative net margin of 181.46% and a negative return on equity of 101.64%.

Here are the key takeaways from Innoviz Technologies’ conference call:

• Record second-quarter revenue reached $18.1 million, driven by increased NRE recognition and program milestones; management said gross margins returned to positive territory and expects positive full-year gross margins.
• Innoviz launched its Perciz defense and security brand and received a first $3.5 million order for several hundred LiDAR units used in counter-UAS and perimeter-security applications. Management said the order is about halfway toward its 2026 defense backlog target and expects non-automotive revenue to rise to 20%-30% of total revenue in 2027.
• The automotive pipeline remains active, including a new LiDAR perception-stack development project with a top-10 global OEM, continued ID. Buzz deployments in six cities, and programs with Mobileye, Volkswagen, Daimler Truck, and others that are expected to support future production ramps.
• Innoviz reiterated its 2026 revenue outlook of $67 million-$73 million, expects $20 million-$30 million in additional NRE payments, and plans to add two to three new programs this year, although revenue is expected to be heavily weighted toward the fourth quarter.
• The company ended the quarter with $48.5 million in cash, short-term deposits, and marketable securities, and subsequently raised $30 million in gross proceeds through a registered direct offering. Management expects the financing to extend operational runway into 2028, while quarterly cash use for operations and capital expenditure was approximately $15.2 million.

Innoviz Technologies Trading Up 0.2%

Shares of Innoviz Technologies stock traded up $0.00 during trading hours on Thursday, reaching $0.40. The stock had a trading volume of 4,056,347 shares, compared to its average volume of 3,232,056. The firm has a market capitalization of $86.24 million, a price-to-earnings ratio of -1.04 and a beta of 1.51. Innoviz Technologies has a 1 year low of $0.35 and a 1 year high of $2.54. The firm has a 50 day simple moving average of $0.62 and a two-hundred day simple moving average of $0.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its position in Innoviz Technologies by 25,626.3% during the third quarter. Millennium Management LLC now owns 4,788,688 shares of the company’s stock valued at $9,769,000 after purchasing an additional 4,770,074 shares in the last quarter. State Street Corp boosted its stake in shares of Innoviz Technologies by 236.3% during the 4th quarter. State Street Corp now owns 3,277,318 shares of the company’s stock valued at $2,796,000 after buying an additional 2,302,775 shares during the period. Sora Investors LLC purchased a new position in shares of Innoviz Technologies during the 3rd quarter valued at $4,507,000. Renaissance Technologies LLC purchased a new position in shares of Innoviz Technologies during the 4th quarter valued at $1,645,000. Finally, JPMorgan Chase & Co. increased its position in Innoviz Technologies by 3,440,684.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company’s stock worth $1,806,000 after purchasing an additional 1,101,019 shares during the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INVZ has been the topic of a number of recent research reports. Wall Street Zen lowered Innoviz Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Weiss Ratings raised shares of Innoviz Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Innoviz Technologies currently has a consensus rating of “Hold” and an average target price of $2.65.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. (NASDAQ: INVZ) is a developer of high-performance solid-state LiDAR sensors and perception software designed to support advanced driver assistance systems (ADAS) and autonomous driving applications. The company’s core business focuses on providing automotive-grade LiDAR hardware, along with software algorithms that enable accurate 3D mapping, object detection and environmental perception in real time. Innoviz’s technology is tailored for integration into passenger vehicles, commercial fleets and other mobility platforms seeking improved safety and autonomy.

Founded in 2016 and headquartered in Rosh Ha’ayin, Israel, Innoviz has emerged as a key supplier to leading global automakers and Tier 1 suppliers.