- Innoviz Technologies (NASDAQ:INVZ) reported FY21 revenue of $5.5 million compared to $(9.4) million in 2020.
- InnovizOne-related revenues in 2021 were $4.3 million, increasing 28% Y/Y.
- EPS loss of $(1.54) versus $(5.99) a year ago.
- Innoviz held $304 million in cash and equivalents and used $84.4 million in operating cash flow.
- "We reached a design freeze for our automotive product, InnovizOne, and are now working to complete production readiness to launch our customer program," said Omer Keilaf, CEO and co-founder.
- "Entering the new year with five new pre-production programs as well as serial production programs at advanced stages of negotiations with several key car makers has put us on a trajectory for another successful year."
- Innoviz increased its FY22 forward-looking order book from $2.4 billion to $2.6 billion to reflect the expansion of the shuttle program through the use of more LiDARs per shuttle.
- Price Action: INVZ shares closed lower by 3.75% at $3.85 on Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Here's How Innoviz Fared In FY21
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks