Israel's Innoviz Q1 revenue falls 59% on milestone delays, outlook unchanged

Innoviz Technologies

14/05/2026 12:12

Overview

Israel LiDAR sensor supplier's Q1 revenue fell sharply yr/yr to $7.1 mln

Company attributed lower revenue to delayed NRE milestones at customer request

Full-year 2026 revenue outlook unchanged at $67–$73 mln

Outlook

Innoviz maintains FY2026 revenue outlook at $67–$73 mln

Company expects 2–3 new program wins in 2026

Innoviz anticipates non-automotive LiDAR sales up to 10% of 2026 revenue

Result Drivers

NRE MILESTONE DELAYS - Co said Q1 revenue was lower due to several Non-Recurring Engineering (NRE) milestones being pushed out of the quarter at customer request

DEFENSE AND SECURITY MARKET ENTRY - Co cited strong momentum from new engagements in defense and security, including Kela Technologies and a large holding group

AUTOMOTIVE PROGRAM PROGRESS - Co said automotive programs with VW, Mobileye, and Daimler Truck are progressing toward product launches in 2026 and beyond

Company press release: ID:nPn2GRt2pa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$7.13 mln
$13.50 mln (2 Analysts)
Q1 EPS
-$0.12
-$0.09 (2 Analysts)
Q1 Net Income
-$26.20 mln
-$12 mln (1 Analyst)
Q1 Operating Income
-$26.47 mln
-$17.90 mln (2 Analysts)
Q1 Operating Expenses
$24.89 mln
Q1 Pretax Profit
-$26.16 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electronic equipment & parts peer group is "buy"

Wall Street's median 12-month price target for Innoviz Technologies Ltd is $2.03, about 120.9% above its May 13 closing price of $0.92

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)