Innoviz Technologies Ltd. announced an expansion of its multi-year Non-Recurring Engineering (NRE) payment plan with key existing customers. The total anticipated cash payments from this plan have increased to approximately $95 million, up from the previously announced $80 million.
This expanded NRE payment plan is the result of ongoing development activities that Innoviz has performed and will continue to perform for its customers. The payments are expected to be received between 2025 and 2027, further bolstering the company's financial position.
These NRE payments are incremental to the revenues generated from the ongoing sales of LiDAR products to existing customers and new orders from additional programs. The increase reflects continued customer commitment to Innoviz's advanced LiDAR solutions.
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