Innoviz Technologies Ltd. reported full-year 2024 revenues of $24.3 million, an increase of 16% compared to $20.9 million in 2023. This growth was driven by a combination of Non-Recurring Engineering (NRE) services, production units, and sample shipments. Operating expenses for the full year decreased by 17% to $100.8 million from $121.0 million in 2023.
For the fourth quarter of 2024, Innoviz achieved revenues of $6.027 million and reported a gross profit of $539 thousand, a significant improvement from a gross loss of $2.280 million in Q4 2023. The company's liquidity stood at approximately $68.0 million as of December 31, 2024.
Innoviz established initial targets for fiscal year 2025, projecting revenues in the range of $50 million to $60 million and NRE bookings between $30 million and $60 million. The company also anticipates single-digit millions in cash burn per quarter and positive gross margin for the full year 2025. Additionally, InnovizTwo is now offered as part of NVIDIA's Hyperion 8 platform, further solidifying its market position.
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