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

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

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 Down 3.0%

Shares of NASDAQ:INVZ traded down $0.01 on Wednesday, hitting $0.41. 6,619,448 shares of the company were exchanged, compared to its average volume of 3,212,228. The firm has a market capitalization of $86.88 million, a P/E 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 stock’s 50 day moving average price is $0.63 and its 200 day moving average price is $0.74.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on INVZ shares. Wall Street Zen lowered Innoviz Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Weiss Ratings raised Innoviz Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.65.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Innoviz Technologies by 499.6% during the 1st quarter. NewEdge Advisors LLC now owns 70,021 shares of the company’s stock valued at $46,000 after purchasing an additional 58,343 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Innoviz Technologies by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 523,945 shares of the company’s stock worth $342,000 after purchasing an additional 144,822 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Innoviz Technologies by 97.5% during the second quarter. Geode Capital Management LLC now owns 144,534 shares of the company’s stock worth $237,000 after purchasing an additional 71,334 shares during the period. JPMorgan Chase & Co. boosted its position in Innoviz Technologies by 3,440,684.4% in the second quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company’s stock valued at $1,806,000 after buying an additional 1,101,019 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in Innoviz Technologies in the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.