$Innoviz Technologies (INVZ.US)$ NEWS Innoviz Reports First-...
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Innoviz Reports First-Quarter 2024 Results, Exceeds Revenue Guidance for Second Consecutive Quarter and Expands Key Partner and Customer Relationships
Innoviz Technologies exceeded revenue guidance for the second consecutive quarter, reporting Q1 2024 revenues of $7.1 million, surpassing expectations.
The company expanded key partner and customer relationships, achieving strong revenue growth, and reiterated its full year 2024 operational targets.
Innoviz is actively collaborating with major players like BMW, Volkswagen Group, Mobileye, and Qualcomm to advance its level 3 and level 4 LiDAR programs.
The company reached a significant milestone with a successful winter test of the InnovizTwo B-Sample with Volkswagen, showing resilience in harsh conditions.
Financially, Innoviz reported a decrease in operating expenses in Q1 2024 compared to Q1 2023, with liquidity of approximately $128.3 million as of March 31, 2024.
The company aims to achieve second quarter 2024 revenues in the range of $4-$5 million and reiterated its operational targets for the full year 2024.
The company expanded key partner and customer relationships, achieving strong revenue growth, and reiterated its full year 2024 operational targets.
Innoviz is actively collaborating with major players like BMW, Volkswagen Group, Mobileye, and Qualcomm to advance its level 3 and level 4 LiDAR programs.
The company reached a significant milestone with a successful winter test of the InnovizTwo B-Sample with Volkswagen, showing resilience in harsh conditions.
Financially, Innoviz reported a decrease in operating expenses in Q1 2024 compared to Q1 2023, with liquidity of approximately $128.3 million as of March 31, 2024.
The company aims to achieve second quarter 2024 revenues in the range of $4-$5 million and reiterated its operational targets for the full year 2024.
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