Innoviz Technologies Ltd. announced a multi-year Non-Recurring Engineering (NRE) payment plan totaling approximately $80 million with its key existing customers. This plan is designed to significantly strengthen the company's financial position over the coming years.
A substantial portion of these payments, over $40 million, is anticipated to be received in 2025, with additional amounts expected in 2026 and 2027. These NRE payments are for development activities Innoviz has performed and will continue to perform for its customers.
The NRE payments are incremental to the revenues generated from ongoing sales of LiDAR products based on existing and new orders from various programs. This financial commitment from customers underscores the value and necessity of Innoviz's engineering services in their product development cycles.
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