Israel: +972 3 978 6688
Webinar ID: 84486760489
International numbers are available here.
A replay of the webinar will also be available shortly after the call in the Investors section of Innoviz's website for 90 days.
About Innoviz Technologies
Innoviz is a leading provider of technology that will put autonomous vehicles on roads. Innoviz's LiDAR technology can "see" better than a human driver and meets the automotive industry's strict expectations for performance, safety, and price. Selected by BMW for its fully autonomous car program, Innoviz's technology will be deployed in BMW's consumer vehicles. InnovizOne LiDAR has also been selected by a leading European Tier 1 automotive company for its shuttle program. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, SK, Magna International, Aptiv, Magma Venture Partners, and others. For more information, visit www.innoviz.tech.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates, customer acquisition, Innoviz's forward-looking order book, Innoviz's projected revenue, Innoviz's future potential order book and other future financial and operational results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on April 21, 2021 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.
Media Contact: Media@innoviz-tech.com
Investor Contact:
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Maya.Lustig@innoviz-tech.com
Gateway Investor Relations
Cody Slach or Matt Glover
(949) 574-3860
Investors@innoviz-tech.com
- Tables to follow -
INNOVIZ TECHNOLOGIES LTD. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
U.S. dollars in thousands (except share and per share data) | ||||||||
|
| ||||||||
|
|
| Three Months Ended |
| Nine Months Ended | ||||
|
|
| September 30, |
| September 30, | ||||
|
|
| 2020 |
| 2021 |
| 2020 |
| 2021 |
|
|
| (Unaudited) |
| (Unaudited) | ||||
|
|
|
|
|
|
|
|
|
|
Revenues | $ | 1,831 | $ | 2,076 | $ | 3,680 | $ | 3,811 |
Cost of revenues |
| (1,318) |
| (2,201) |
| (5,097) |
| (5,737) |
Gross profit (loss) |
| 513 |
| (125) |
| (1,417) |
| (1,926) |
Operating expenses: |
|
|
|
|
|
|
|
|
Research and development | $ | 14,677 | $ | 20,576 | $ | 41,894 | $ | 69,397 |
Selling and marketing |
| 1,243 |
| 3,652 |
| 3,941 |
| 20,834 |
General and administrative |
| 844 |
| 5,753 |
| 2,508 |
| 30,179 |
| Total operating expenses |
| 16,764 |
| 29,981 |
| 48,343 |
| 120,410 |
| Operating loss |
| (16,251) |
| (30,106) |
| (49,760) |
| (122,336) |
| Financial income, net |
| 536 |
| 3,735 |
| 626 |
| 2,827 |
| Loss before taxes on income |
| (15,715) |
| (26,371) |
| (49,134) |
| (119,509) |
| Taxes on income |
| 63 |
| (60) |
| (29) |
| (132) |
| Net loss | $ | (15,652) | $ | (26,431) | $ | (49,163) | $ | (119,641) |
| Basic and diluted net loss per ordinary share | $ | (1.06) | $ | (0.20) | $ | (3.31) | $ | (1.35) |
| Weighted average number of ordinary shares used in computing basic and diluted net loss per ordinary share |
| 18,861,241 |
| 133,430,689 |
| 18,697,015 |
| 92,115,826 |
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