Slide 1: Q3 2024 Earnings Presentation
Q3 2024 Earnings Presentation November 13, 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain forward-looking statements within the Many factors could cause actual future events, and, in the case of our forward- meaning of the federal securities laws, including statements regarding the looking revenue and NRE bookings, actual orde
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. No Part of this Document May be 3 Reproduced or Disclosed in Any Manner.
Slide 4: Highlights
Kicked off two new OEM programs through agreement with Level 4 platform provider with expected SOP in 2026 3 Continued to progress different VW programs Strong revenue and cash performance • Revenues of $4.5M, above midpoint of 2024 guidance range of $3.5 - 5M • Further decreased cash used in operat
Slide 5: Entered Two New OEM Programs
Entered Began work with two new OEMs which Innoviz is expected Working with Platform expected have adopted the to supply bundle of platform partner to offer favorable TWO new OEM platform; these two OEMs are part of a nine InnovizTwo short- and long- and OEMs on mechanical, volumes for Innoviz and s
Slide 6: Volkswagen Group Programs Advancing
Volkswagen Group Passenger Light Commercial Passenger Programs Advancing Vehicle Vehicle Vehicle Multiple Brands Volkswagen ID. Buzz Multiple Brands Continued work on existing programs: • Two Level 3 platforms, one with Qualcomm and Cariad and one with Mobileye Chauffeur • ID. Buzz Level 4 program w
Slide 7: ID. Buzz to be deployed in Hamburg in 2025
ID. Buzz to be deployed in Hamburg in 2025 MOIA announced the Hamburg deployment of ID. Buzz starting in mid-2025 as part of project ALIKE, a project to test autonomous on- demand ride pooling Hamburg deployment is in addition to previous announcements of deployment in Austin, TX and Hanover, German
Slide 8: Advancing Pipeline Opportunities
Advancing Pipeline Opportunities 15+ programs in pipeline with ~50% in RFQ stage Level 3 RFQ with top Reached alignment on Passed exhaustive Demonstrated ten automotive technical, production, production audits performance advantages OEM in late stages commercial and legal and maturity of InnovizTwo
Slide 9: In Contact with Leading North American OEMs
In Contact with Leading North American OEMs North American potential customer activity picking up, various RFIs and RFQs including Level 3 and Level 4 programs Innoviz has successfully completed LiDAR technical and commercial assessments to display technological advantages In various stages of sourc
Slide 10: Innoviz Delivering Exciting Technological Breakthroughs
Innoviz Delivering Exciting Technological Breakthroughs Innoviz outpacing LiDAR market with: New and improved InnovizTwo configuration Unique IR imaging offering Unparalleled blockage resilience First samples of InnovizTwo short-range LiDAR for Level 4 and non-automotive applications © Innoviz Techn
Slide 11: New InnovizTwo Configuration
New InnovizTwo Configuration 120x25 FOV Dimensions Uniform 0.05 x 0.05 resolution across FOV Resulting with over 12M pixels/sec © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 11
Slide 12: "All in One" LiDAR & IR Camera
“All in One” LiDAR & IR Camera New feature allows in-LiDAR IR imaging Camera-like image output that can be provided alongside 3-D point cloud data at the same resolution Allows improved low-level fusion of both 3-D and camera- like image Enables low-level fusion perception stack that exceeds capabil
Slide 13: InnovizTwo Delivers Unparalleled Blockage Resilience
InnovizTwo Delivers Unparalleled Blockage Resilience Resilient against mud, dust, water, stone chipping and insect blockages Mitigates potential compromised object detection and tracking, and autonomous driving disengagements Delivers continuous availability, allows vehicle to reliably detect obstac
Slide 14: Innoviz Brings Unique Advantages to Level 4 Applications
Innoviz Brings Unique Advantages to Level 4 Applications In Level 2 and 3 applications, system can rely on driver intervention while Level 4 requires superior technology as no driver is present in the vehicle Ability to operate seamlessly in adverse conditions is baked into the foundations of Innovi
Slide 15: InnovizTwo Short-Range LiDAR for L4 and Non-Automotive Applications
InnovizTwo Short-Range LiDAR for L4 Automotive and Non-Automotive Applications Resilient to sunlight & weather conditions Up to 100m detection range Over 90-degree vertical field of view ISO/SAE 21434 Automotive Cybersecurity Increased interest in short-range offering © Innoviz Technologies Ltd. 202
Slide 16: Strong Revenue and Cash Performance Driving Lower Burn
Strong Revenue and Cash Performance Driving Lower Burn Benefitting from cost actions executed in Q1 as part of realignment Combined hardware and software development units into one R&D department, now solely focused on the InnovizTwo platform Leveraging technological carryovers between InnovizOne an
Slide 17: FY 2024 Targets
FY 2024 Targets Already met target of Reiterating FY24 Revenue Met customer program 2-3 $20-70M $23.5-25M target; reiterating NRE additional customer 2024 New NRE Compared to $20.9M programs in 2024 Bookings FY23 Revenue target © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary & Con
Slide 18: Q3'24 Financial Update
Q3’24 Financial Update Eldar Cegla, Chief Financial Officer
Slide 19: Q3 2024 Financials
Revenues Q3 2024 Financials $4.5M $3.5M $4.5M $17.7M Revenues were Decreased cash used in $4.5M, compared to Operations and Capital $3.5M in Q3 2023 Expenditures of $17.7M, compared to $28.6M in Q3 2023 and $21.6M in Q3 23 Q3 24 Q2 2024 Cash used in Operations Decreased operating R&D expenses were e
Slide 20: Key Takeaways
Key Takeaways Added two new Delivered OEMs through Advancing VW Continued to revenues above partnership with programs and advance pipeline midpoint of Level 4 platform on track to meet opportunities; guidance range partner; expected planned LiDAR ~50% in RFQ SOP in 2026 SOP timelines stage Continued
Slide 21: Upcoming IR Calendar
Upcoming IR Calendar December 5 January 7-10, January 16, 2024 2025 2025 Goldman Sachs 16th CES 26th Annual Annual Industrials Needham Growth and Autos Week Conference London, UK Las Vegas Virtual Contact Investors@innoviz-tech.com © Innoviz Technologies Ltd. 2024 All Rights Reserved – Proprietary &
Slide 22: Thank You!
Thank You! fo) INNOVIZ TECHNOLOGIES