Slide 1: Q4 2023 Earnings Presentation
Q4 2023 Earnings Presentation February 28, 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain forward-looking statements within the including but not limited to, the ability to implement business plans, meaning of the federal securities laws, including statements regarding the forecasts, and other expectations, the ability to conv
Slide 3: Our Vision
OUR VISION Become the World’s Leading Tier 1 Supplier of LiDAR & Perception Software © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary & Confidential. 3 No Part of this Document May be Reproduced or Disclosed in Any Manner.
Slide 4: 4Q23 Highlights & Agenda
4Q23 Record 4Q23 and 2023 revenue came in above guidance Highlights & Agenda • 4Q23 revenues of $14.9M (+846% YoY) came in above the high end of the guidance range • 2023 revenues of $20.9M (+246% YoY) came in above the high end of the guidance range Debuted the Volkswagen ID. Buzz, at CES along wit
Slide 5: Continued Progress at BMW
Continued Progress at BMW Germany China 7 Series 5 Series BMW i7 on sale now in Germany BMW received Level 3 testing with deliveries expected to start approval in China in late 2024; in the coming weeks Working on planned deployment of 5 Series in China © Innoviz Technologies Ltd. 2024 All Rights Re
Slide 6: Unveiled Second Program with Volkswagen at CES 2024
Unveiled Second Program with Volkswagen at CES 2024 Level 4 light commercial vehicle targeting the mobility market Multiple LiDAR per vehicle Working towards 2026 commercial launch Working with Mobileye as the autonomy platform partner © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprieta
Slide 7: Original Volkswagen Group Program Continues Towards SOP
Original Volkswagen Group Program Continues Towards SOP B-samples with new second generation custom ASIC delivered to customer Preparing advanced winter testing ahead of C- and D- sample phases Innoviz plans to be ready to produce by late 2025 Continue to work towards additional programs with the Vo
Slide 8: InnovizTwo Increasingly Becoming an Off the Shelf Solution
InnovizTwo Increasingly Becoming an Off the Shelf Solution Integrating through series production awards with Mobileye and Qualcomm Working on multiple RFI/RFQs on NVIDIA Hyperion platform Innoviz plans to be ready to produce the InnovizTwo at production volumes by late 2025 Contract manufacturing st
Slide 9: China Updates
China Updates Policy developments could become industry catalysts Inclusion of a Chinese LiDAR company on the US DoD 1260H list • Potentially complicates the regulatory environment for US/China LiDAR companies operating in each other’s region • As an Israeli company, Innoviz aims to remain neutral a
Slide 10: Strategic Realignment
Strategic Realignment Expands cash runway and optimizes path to profitability Savings are primarily derived from the transition of the InnovizOne program to series production and concentration of future investments on the InnovizTwo sensor and perception software suite Realignment actions to be full
Slide 11: New Slim Design for InnovizTwo
New Slim Design for InnovizTwo Slimmer profile Reduces height Easily integrates Easier to satisfies spec from 45mm to as with existing deploy behind requests from small as 25mm components windshield or several pipeline on a low-profile opportunities roofline © Innoviz Technologies Ltd. 2024 All Righ
Slide 12: Q4'23 & Full Year 2023 Financial Update
Q4’23 & Full Year 2023 Financial Update Eldar Cegla, Chief Financial Officer
Slide 13: Cash Position & Financial Update: Revenues for Q4 2023 & Full Year 2023
Cash Position & Financial Update Revenues for Q4 2023 & Full Year 2023 Liquidity of $150M in cash and cash equivalents, short-term deposits, short term restricted cash and marketable securities as of December 31, 2023 Q4 23 2023 Innoviz operating cash burn (net cash from operations and $20.9M capita
Slide 14: Reviewing 2023 Targets
Reviewing 2023 Targets Strong revenue performance balanced by customer decisions taking longer Customer Targets Additional Programs with Series Production Awards Existing Customers with New Customers 10-15 Programs in RFI & • Secured new ID. Buzz program • Decisions taking longer than OEMs RFQ Pipel
Slide 15: Setting 2024 Targets
Setting 2024 Targets Sources of Pre- Solid progress YTD Production Income Sample Units Much higher ASPs than production units – +2-3 $20-70M $5-6M typically $5,000-15,000 Additional Customer 2024 New NRE 1Q24 Quarterly Programs in 2024 Bookings Revenue Non-Automotive Sales +395-494% YoY Much higher
Slide 16: Strong Momentum on Multiple Fronts
Strong 2023 revenue growth +246% 4Q23 revenue growth +846% YoY, ahead of 1Q24 revenue guidance $5-6M Momentum on YoY, ahead of guidance (+395-494% YoY) guidance Multiple Fronts Record low Finished 2023 with Announced second 4Q23 cash burn $150M of cash & Volkswagen Group of $14.5M equivalents award
Slide 17: Upcoming IR Calendar, Q&A, Contact
Upcoming IR Calendar February 29 Baird 2024 Vehicle, Technology & Mobility Conference, Virtual March 26 NYC NDR March 27 BofA Securities 2024 Automotive Summit, NYC Q&A May 9 Oppenheimer Annual Emerging Growth Conference, Virtual May 26 Oppenheimer Annual Israeli Conference, Tel Aviv June 11-12 Deut
Slide 18: Thank You!
Thank You! © INNO VIZ TECHNOLOGIES