Innoviz Technologies Posts Stellar Q3, Powers Ahead in Autonomous Revolution

TEL AVIV, Israel – November 12, 2025 – Innoviz Technologies Ltd. (NASDAQ: INVZ), a leading Tier-1 direct supplier of high-performance automotive-grade LiDAR sensor platforms, has announced robust third-quarter 2025 financial results, signaling a significant acceleration in its journey towards mass autonomous vehicle deployment. The company reported a substantial increase in revenues, secured a pivotal design win for autonomous trucks, and unveiled its next-generation LiDAR platform, solidifying its position at the forefront of the LiDAR revolution.

The LiDAR Revolution: Innoviz's Ascent in Autonomous Driving

The global automotive LiDAR market is experiencing explosive growth, projected to surge from approximately $1.23 billion in 2025 to over $5 billion by 2030. This expansion is fueled by the escalating demand for advanced driver-assistance systems (ADAS) and fully autonomous driving capabilities, where LiDAR sensors are indispensable for superior environmental perception. Innoviz is not just participating in this growth; it's actively shaping it.

Innoviz's third-quarter revenues reached an impressive $15.3 million, marking a 238% increase compared to the same period in 2024. Year-to-date revenues climbed to $42.4 million, approximately 2.3 times the levels achieved in the prior year. This financial momentum underscores the increasing adoption of its technology within the automotive sector.

Central to Innoviz's strategic advancements are its deep-rooted partnerships with major automotive OEMs. The company's long-standing collaboration with the BMW Group has seen its LiDAR technology power the L3 Personal Pilot in the BMW 7 Series, with ongoing development for next-generation automated vehicles. Furthermore, Innoviz was selected by CARIAD, Volkswagen's autonomous vehicle software company, in a multi-billion dollar deal to supply millions of LiDAR units across various Volkswagen Group brands, with deployments beginning in 2025. This includes supplying InnovizTwo units for Volkswagen's ID. Buzz AD autonomous shuttles, each equipped with nine sensors for comprehensive 360-degree perception.

Adding to these significant automotive wins, Innoviz recently announced a major design win with a leading commercial vehicle OEM for the future series production of Level 4 Class 8 autonomous trucks. Units of the InnovizTwo sensors have already begun shipping to this OEM for their data collection fleet, with the OEM's identity expected to be disclosed in the coming weeks. This expansion into commercial trucking highlights the versatility and reliability of Innoviz's solutions across different vehicle segments.

Innovation remains a cornerstone of Innoviz's strategy. The company unveiled the InnovizThree, its latest LiDAR platform designed for seamless behind-the-windshield integration. This new device boasts a 60% reduction in size, enhanced performance, and lower power consumption compared to its predecessor, the InnovizTwo. This technological leap addresses critical OEM requirements for aesthetic integration and energy efficiency, further strengthening its competitive edge. Innoviz also holds a robust intellectual property portfolio, with 102 patents globally and 176 applications, demonstrating its commitment to pioneering advancements in LiDAR technology.

Scaling Innovation: Supply Chain and Production Readiness

The journey from technological breakthrough to mass market adoption is often fraught with challenges, particularly in scaling production. Innoviz is strategically addressing this by focusing on robust supply chain management and manufacturing readiness. "Revenue in 2025 is continuing to broadly outpace 2024, while cash burn declines; our financial performance and strong trajectory of customer engagements show that we are well on our way to meeting our long-term commitments," stated Omer Keilaf, CEO and Co-Founder of Innoviz.

The company's operational efficiency is evident in its reduced operating expenses, which saw a 30% year-over-year decrease to $18.1 million in Q3 2025. This disciplined approach to spending, coupled with a healthy liquidity of approximately $74.4 million in cash and short-term investments, provides a solid financial runway into 2027. This financial stability is crucial for funding the necessary investments in production scale-up and ongoing research and development.

A key indicator of Innoviz's maturation is the anticipated shift in its revenue mix. The company expects a greater proportion of its 2025 revenue to originate from LiDAR unit sales rather than Non-Recurring Engineering (NRE) services. This transition signifies a move from developmental phases to full-scale commercialization, a critical milestone for any hardware-centric technology company. The company’s in-house labs have also achieved key automotive certifications, streamlining testing processes and offering substantial value to partners by eliminating the need for outsourced, time-intensive protocols.

Beyond the Road: LiDAR's Expanding Horizons

While automotive applications remain a core focus, Innoviz is actively exploring and capitalizing on opportunities beyond self-driving vehicles. Its InnovizSmart solution is gaining considerable traction in various non-automotive and industrial applications. Notably, testing of InnovizSmart-based systems for perimeter security has demonstrated significant performance advantages over existing best-in-class solutions.

This diversification strategy is vital in a rapidly evolving tech landscape, allowing Innoviz to tap into new market segments and mitigate reliance solely on the automotive industry's development cycles. The ability to adapt and apply its core LiDAR technology to diverse use cases, such as robotics, mapping, and industrial automation, positions Innoviz for broader long-term growth. "Just months after introducing the InnovizSMART, we've been able to demonstrate that Innoviz-powered perimeter security systems outperform systems based on other technologies," Keilaf added, underscoring the immediate impact of these non-automotive ventures.

Financial Health and Future Outlook

Innoviz's Q3 2025 results reflect a company in a strong upward trajectory. The net loss for the quarter was $15.42 million, a notable improvement from $24.86 million in Q3 2024. The gross margin for the quarter stood at 15%, with a year-to-date gross margin of 26%, indicating improving profitability as revenues scale.

The company has reiterated its full-year 2025 financial targets, projecting revenues of $50-$60 million, which would more than double 2024 levels. Innoviz also aims for 1-3 new program wins and NRE bookings of $30-$60 million. These targets are supported by ongoing progress in L3 and L4 automotive programs, including preparations for its fourth round of winter testing in Northern Europe, a crucial step for validating performance in challenging conditions.

With its growing customer engagements, expanding production capacity, and continuous product innovation, Innoviz Technologies is strategically positioned to achieve its goal of becoming the world's premier large-scale supplier of best-in-class LiDAR solutions, not only for autonomous driving but also for a wide array of emerging applications. The company's financial discipline and technological leadership suggest a sustained impact on the future of autonomous systems and beyond.