Innoviz Technologies (INVZ) The ThinkEquity Conference summary

Business expansion and go-to-market

• After building automotive-grade lidar products and production capacity, security and defense became a focus less than a year before the conference; existing products are marketed there as Perciz, without added CapEx or development.

• Automotive sales use a Tier 1 model; security and defense sales target Tier 2/3 roles, with products integrated by prime contractors into broader solutions.

• Priority security applications are counter-UAS and perimeter protection; unmanned ground vehicles are a longer-term opportunity.

Product capabilities and market opportunity

• Counter-UAS lidar is positioned to detect and pinpoint small drones in 3D amid trees, debris, metal objects and other noisy conditions that challenge cameras and radar.

• For perimeter security, lidar can track people beyond foliage and reduce false positives compared with radar-based detection paired with cameras.

• A demonstration showed the 3D point cloud remained intact with 25%-30% of the lidar screen occluded, supporting operation in harsh outdoor conditions.

• Addressable security and defense opportunity is projected at $7B-$8B by 2030; the speaker cited pilot-to-deployment cycles under one year, versus 3-4 years to automotive SOP.

Automotive programs and revenue outlook

• BMW launched in 2024; the Volkswagen ID.Buzz level 4 shuttle, with nine lidar units, was planned for launch beginning in 2027.

• Additional programs include Volkswagen, Holon/Mobileye level 4, level 3 vehicles and Daimler Truck autonomous trucks; launches over time are expected to add volume and revenue.

• Automotive lidar sells for hundreds of dollars per unit; security and defense uses a similar product priced in the thousands, with lower volumes but higher ASPs and a different gross-margin profile.

• Security and defense is targeted to reach at least 20% of revenue next year, with a 50% target in later years, potentially 2029-2030.