Innoviz Technologies Ltd. (INVZ) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. I would like to welcome you to our Q1 2025 Earnings Conference call. Joining us today are Omer Calaf, Chief Executive Officer, and Eldar Tsegla, Chief Financial Officer. I would like to remind everyone that this call is being recorded and will be available in the investor relations section of our website at ir.inoviz.tech. Before we begin, I would like to remind you that our discussion today will include forward-looking statements that are subject to risks and uncertainties relating to future events and the future financial performance of Innoviz. Actual results could differ materially from those anticipated in the forward-looking statements. Forward-looking statements made today speak only to our expectations as of today and we undertake no obligation to publicly update or revise them. For a discussion of some important risk factors that could cause actual results to differ materially from any forward-looking statements, please see the risk factors section of our Form 20-F filed with the SEC on March 12, 2025. Omer, please go ahead. Thank you, Ada, and good morning to all of you joining us on Discord. Today we'll discuss our recent financial performance, tell you about some exciting new developments in our business, and outline how these position us to achieve our long-term goals. In the first quarter, Innobis reported record revenues and gross margin. Q1 revenues were $17.4 million, up approximately three times sequentially and up approximately two and a half times year over year. Gross margin was approximately 40%. Both revenue and gross margin were the highest in our company's history, demonstrating our progress in meeting our full-year targets and achieving our long-term strategic and financial goals. As we discussed last quarter, in recent months,...