INVZ · Innoviz Technologies Ltd.

Innoviz Technologies' Q1 2026 results showed revenues of $7.1 million, a significant decline from $17.4 million in Q1 2025, primarily due to NRE milestone delays from customer requests for additional content, leading to a gross loss of $1.6 million and an operating loss of $26.5 million, up 89% year-over-year amid 18% higher operating expenses of $24.9 million driven by R&D investments. Net loss widened to $26.2 million or $0.12 per share from $12.6 million or $0.07. CEO Omer Keilaf noted teams are closing the gap, maintaining FY2026 outlook at $67-73 million revenue, 2-3 new program wins, up to 10% non-automotive revenue, and $20-30 million new NRE plans. Liquidity stood at $60.1 million as of quarter-end. Strategically, Innoviz entered high-margin defense and security markets via Kela Technologies' adoption of InnovizTwo for perimeter security and drone detection, plus an agreement with a large holding group. Automotive progress includes programs with VW, Mobileye, and Daimler Truck targeting 2026 SOPs, a new on-sensor perception evaluation with a leading AV company, and LOI with LOXO for Level 4 integration. The InnovizTwo Ultra Long-Range launch with 1km sensing expands applications in trucking, security, and beyond, positioning Innoviz for Physical AI growth while ramping production at Fabrinet.