Slide 1: Q1 2024 Earnings Presentation
Q1 2024 Earnings Presentation May 8, 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain forward-looking statements within the expectations, the ability to convert design wins into definitive orders and the meaning of the federal securities laws, including statements regarding the magnitude of such orders, the possibility tha
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: Q1 2024 Highlights
Strong start to 2024, revenues above Q1 2024 guidance for the second consecutive quarter • Revenues of $7.1 million, compared to $1.0 Highlights million in Q1 2023 • Above guidance range of $5-6 million Expanded relationships with key partners and customers Robust RFI & RFQ pipeline, team supporting
Slide 5: Continued Progress at BMW
Continued Progress at BMW Germany | 7 Series China | 5 Series BMW i7 launched in Germany, Continued supporting software user experience feedback development for InnovizOne deployment expected soon on BMW 5 Series vehicles in China © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary &
Slide 6: Progressing Opportunities Within Volkswagen Group
Progressing Passenger Light Commercial Passenger Opportunities Within Vehicle Vehicle Vehicle Multiple Brands Volkswagen ID. Buzz Multiple Brands Volkswagen Group Existing programs include Cariad level 3 high volume program and ID. Buzz level 4 light commercial vehicle program Started work with Mobi
Slide 7: Mobileye and Volkswagen Group Announced Their Additional Collaboration
Mobileye and Volkswagen Group Announced Their Additional Collaboration Offering functions for level 3 chauffeur platform Supplying software and hardware to VW for level 4 drive platform ID. Buzz; targeting series production in 2026 Innoviz is already integrated into platforms through ID. Buzz which
Slide 8: Progress with Qualcomm, Nvidia and Mobileye
Progress with Qualcomm, Nvidia and Mobileye Working with Qualcomm platform for the Volkswagen Cariad program and with Mobileye platform for ID. Buzz and additional level 3 program Looking to benefit with other programs and OEMs Progressing collaboration with Nvidia, working on several RFQs based on
Slide 9: Pipeline Update
Pipeline Update Customers recognizing differentiation of InnovizTwo Active pipeline, Confident in our Two opportunities Quoting all potential Confident in our ability continuing to positioning in two with level 4 programs with NREs to execute our mature 10-15 level 3 RFQs where companies in trucking
Slide 10: Continued Adoption of LiDAR
Continued Adoption of LiDAR In 2030, approximately 10 million LiDAR scanners across various autonomy levels are expected to be sold globally in the automotive market* The number of LiDAR scanners to be sold in 2035 is likely to be more than double that* NHTSA announced Automatic Emergency Braking wi
Slide 11: Reached Key Milestone with Successful Winter Testing of InnovizTwo B-Sample
Reached Key Milestone with Successful Winter Testing of InnovizTwo B-Sample 18 days of driving in Resilience to different harsh winter weather conditions and conditions blockages Using data to Showcased robustness improve AI-backed of InnovizTwo; reaching software and maturity, approaching hardware
Slide 12: Successfully Implementing Strategic Realignment
Successfully Implementing Strategic Realignment Implemented nearly all initiatives of realignment plan Reduced investment in InnovizOne development, reallocating part of savings to InnovizTwo development Integrated hardware and software development departments into combined R&D department Delivered
Slide 13: Q2 2024 Targets
Q2 2024 Targets Solid progress YTD on Full Year Targets Reiterating Reiterating +2-3 $20-70M $4-5M 2Q24 Quarterly Additional Customer 2024 New NRE Revenue Programs in 2024 Bookings Compared to $1.5M 2Q23 Revenue © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary & Confidential. No Pa
Slide 14: Q1'24 Financial Update
Q1’24 Financial Update Eldar Cegla, Chief Financial Officer
Slide 15: Q1 2024 Financial Update
Q1 2024 Financial Update Liquidity of $128.3M* Q1 2024 Revenues $23M $31.7M $7.1M Cash used in Operating expenses of operations and capital $31.7M, a decrease of 5% expenditures of $23M from $33.3 million in Q1 2023 compared to $29M in Q1 2023 $7.1M $23.8M Revenues were $7.1M, R&D expenses were comp
Slide 16: Ecomotion Assembly
Ecomotion Assembly at Innoviz HQ on June 4 © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 16
Slide 17: Key Takeaways
Key Takeaways Continued Working on Continuing to Mobileye and InnovizOne additional mature 10-15 VW expanded software opportunities programs in relationship, development on within the pipeline; potential BMW 5 Series Volkswagen ~50% in RFQ runways for in China Group stage growth Reached Implemented
Slide 18: Upcoming IR Calendar
Upcoming IR Calendar May 9 Oppenheimer 9th Annual Emerging Growth Conference – Virtual May 26 Oppenheimer’s 25th Annual Israeli Conference – Tel-Aviv, Israel June 4 Ecomotion Assembly – Innoviz HQ June 11-22 Deutsche Bank Global Auto Industry Conference – NYC August 27-28 Jefferies Semiconductor, IT
Slide 19: Thank You!
Thank You! ro) INNOVIZ TECHNOLOGIES