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Innoviz Announces Expansion of Multi-Year NRE Payment Plan with Key Customers to Approximately $95 Million from $80 Million
Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, today announced an expansion of the multi-year NRE (Non-Recurring Engineering) payment plan initially announced in December 2024. The NRE payment plan is the outcome of development activities that Innoviz has performed and will continue to perform for its key existing customers. The expansion of the NRE payment plan i
About this update from Innoviz Technologies Ltd.
[{"type":"text","content":"Extension of NRE payment plan announced in December 2024 increases the potential cash payments expected in 2025-2027, further bolstering financial position","length":155,"tagName":"p"},{"type":"text","content":"TEL AVIV, Israel, May 6, 2025 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, today announced an expansion of the multi-year NRE (Non-Recurring Engineering) payment plan initially announced in December 2024. The NRE payment plan is the outcome of development activities that Innoviz has performed and will continue to perform for its key existing customers. The expansion of the NRE payment plan is expected to further bolster the Company's financial position, bringing the total cash payments anticipated from the plan to approximately $95 million from $80 million between 2025 and 2027. These payments will be incremental to revenues generated from ongoing sales of LiDAR products to existing customers and new orders coming from additional programs.","length":930,"tagName":"p"},{"type":"image","alt":"Innoviz announces extension of multi-year NRE payment plan to approx. $95M","displaySize":"","headline":null,"caption":"Innoviz announces extension of multi-year NRE payment plan to approx. $95M","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":247,"url":"https://media.zenfs.com/en/prnewswire.com/6bdd48b2d2766226402e7e8a16d96242"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nzMzWRqmr3rBHB1.kUV.3w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQzNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/6bdd48b2d2766226402e7e8a16d96242","width":400,"height":247}},"href":"https://mma.prnewswire.com/media/2679440/Innoviz_Image.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""We are thrilled to further broaden our NRE payment plan with our customers," said Omer Keilaf, CEO and Founder of Innoviz. "NREs are essential to strategically funding our operations as we approach start of production (SOP) for several projects in 2026. We believe this engagement underscores our customers' trust in our ability to meet the stringent demands of next-generation autonomous vehicles through our unique technolog...