Innoviz Technologies (INVZ) Q1 2026 earnings summary

Executive summary

• Achieved critical technical milestones, expanded into defense and homeland security markets, and secured agreements with Kela Technologies and a large holding group, with strong early traction in both automotive and non-automotive sectors.

• Announced partnerships with Kela and a large holding group for defense applications, and advanced automotive programs with VW Group, Mobileye, Daimler Truck, and LOXO.

• Launched InnovizTwo Ultra Long-Range LiDAR, enabling up to 1km sensing for automotive and non-automotive applications, with record Q1 shipments and further acceleration expected in H2 2026.

• Signed LOI with LOXO for integration into Level 4 autonomous delivery vehicles, potentially replacing FMCW LiDAR.

• Initiated advanced development program for on-sensor Perception Software.

Financial highlights

• Q1 2026 revenues were $7.1 million, impacted by NRE milestone timing and down from $17.4 million in Q1 2025.

• Operating expenses for Q1 2026 were $24.9 million, up from $21.0 million in Q1 2025.

• Net loss widened to $26.2 million from $12.6 million year-over-year; basic and diluted net loss per share was $(0.12).

• Cash burn/cash used in operations and capex was $15.8 million in Q1 2026, down from $20.7 million in Q1 2025.

• Ended Q1 with $60.1 million in cash equivalents, short-term deposits, and marketable securities; shareholders’ equity was $59.7 million.

Outlook and guidance

• Full-year 2026 revenue guidance reiterated at $67 million–$73 million, representing ~27% year-over-year growth.

• Up to 10% of 2026 revenues expected from non-automotive Physical AI applications, up from ~1% in 2025.

• Anticipate $20 million–$30 million in new NRE payments and addition of 2–3 new programs in 2026.