LiDAR maker Innoviz Technologies Ltd. (NASDAQ: INVZ) reported a sharp acceleration in growth and improving unit economics in its third quarter, as management reiterated full‑year targets and highlighted fresh momentum across automotive and non‑automotive programs. Q3 revenue jumped to $15.3 million (up ~238% year over year), gross profit swung positive, and the company underscored a September production selection for Level 4 (L4) Class‑8 autonomous trucks with a major commercial vehicle OEM. 1
As of 14:57 UTC today, Innoviz shares were trading around $1.57 (−~2.5% intraday). Prices are real‑time/delayed per exchange rules and may update.
Key numbers (Q3 2025)
- Revenue:$15.3M vs. $4.5M in Q3 2024 (~238% YoY). Year‑to‑date revenue reached $42.4M, ~2.3× the same period last year. 1
- Gross profit:$2.3M (approx. 15% gross margin) vs. a small gross loss in Q3 2024, reflecting improving costs and mix. 1
- Operating expenses:$18.1M, down 30% YoY; includes $2.4M in share‑based compensation. 1
- Net loss / EPS:$15.4M / ($0.08) vs. $24.9M / ($0.15) a year ago. 1
- Liquidity (Sept. 30, 2025):$74.4M in cash, deposits, marketable securities and short‑term restricted cash. 1
Consensus check: Independent coverage noted Q3 revenue beat expectations and EPS came in roughly in line with estimates (−$0.08). 2
What moved the story today
- Commercial win in heavy trucks: Innoviz reiterated that a major commercial vehicle OEM selected the company for future series production of L4 Class‑8 autonomous trucks; Innoviz has already begun shipping InnovizTwo units to the OEM’s data‑collection fleet. The OEM name remains undisclosed. 1
- Units accelerating: Management said LiDAR shipments rose significantly quarter‑over‑quarter, aligned with plans to ship “an order of magnitude more units” in Q3. 1
- Product roadmap: Innoviz is unveiling “InnovizThree”—designed for behind‑the‑windshield integration—with a ~60% reduction in size and improved power/performance versus InnovizTwo. The company also reported traction for InnovizSMART in perimeter security and other non‑automotive uses. 1
Guidance and outlook
Innoviz reaffirmed FY2025 targets of $50–$60M in revenue (more than 2× 2024), 1–3 new program wins, and $30–$60M in new non‑recurring engineering (NRE) bookings. Management also flagged continued progress on L3 and L4 automotive programs and preparations for a fourth winter‑testing cycle in Northern Europe to support launches. 1
Earnings call/webcast: The company scheduled its Q3 2025 earnings webcast for 9:00 a.m. ET today; the earnings release and presentation deck were posted to Innoviz’s investor site. A replay will be available. 3
Why it matters
- Line of sight to scale: A positive gross margin alongside triple‑digit revenue growth suggests unit economics are trending in the right direction as volumes scale, a key milestone for LiDAR suppliers vying for multi‑year automotive programs. 1
- Diversification beyond passenger cars: The L4 trucking selection broadens Innoviz’s end‑market exposure and could bring nearer‑term unit volume compared with some passenger‑vehicle timelines. 4
- Product cadence: With InnovizThree aimed at easier integration and lower power draw, the portfolio now spans multiple integration points (including behind‑the‑windshield), which can expand the addressable market across OEM platforms. 1
What to watch next
- OEM reveal & SOP timing: Watch for the identity of the L4 truck OEM and milestones toward series production. 1
- FY25 execution: Delivery against the $50–$60M revenue target and the 1–3 expected new program wins. 1
- Cash runway: Management’s ability to manage cash burn versus the $74.4M liquidity on hand as volumes scale. 1
- Adoption in security/industrial: Evidence that InnovizSMART wins are converting into revenue outside automotive. 1
Editorial note / disclosure
This article summarizes publicly available information released today (November 12, 2025) and independent coverage; it is not investment advice. Always do your own research and consider speaking with a financial advisor. 1
Sources: Innoviz press release and IR site; Reuters/Refinitiv summary via TradingView; real‑time market data. 1
