Innoviz Technologies Ltd. · NASDAQ:INVZ
Innoviz Technologies — Q3 2023 Earnings Presentation
20 slides from Innoviz Technologies's earnings presentation, Nov 8, 2023
Slide 1: Q3 2023 Earnings Presentation
Q3 2023 Earnings Presentation November 8, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz’s products, the markets in which Innoviz ope
Slide 3: Our Vision
OUR VISION Become the World’s Leading Tier 1 Supplier of LiDAR & Perception Software © Innoviz Technologies Ltd. 2023 All Rights Reserved – Proprietary & Confidential. 3 No Part of this Document May be Reproduced or Disclosed in Any Manner.
Slide 4: 3Q23 Agenda
3Q23 Agenda Operational Update SOP Update Content per Vehicle (CPV) Growth Opportunities Volkswagen & Pipeline Growth Opportunities Point Cloud Video With New Custom ASIC Financial Review Closing Remarks
Slide 5: First Generation BMW Program Production Units
First Generation Production LiDAR Production Pursuing components software shipped integration with BMW Program shipped July 2023 October 2023 additional models Production Units Shipped Deploying on the BMW 7 Series © Innoviz Technologies Ltd. 2023©All Innoviz RightsTechnologies Reserved – Proprietar
Slide 6: Shuttle & LCV Programs
Shuttle & LCV Programs Cutting edge L4 programs that can redefine public transportation Autonomous Shuttle Mobility-as-a Service Tier 1 / Tier 1 / Direct Direct Supplier Supplier Autonomous Shuttle Light Commercial Vehicle Level 4 Program Level 4 Program Announced: May-2021 Announced: May-2023 Targe
Slide 7: Growing Our Content Per Vehicle (CPV)
Growing Our Content Per Vehicle (CPV) Growing CPV while driving sensor cost lower and functionality higher System Cost >$1,500 Lower Total Cost to OEM >$1,000 Total CPV (Tier 1 Partner) Drives increased adoption ~$500-1,000 CPV Tier 1 Selling Full Systems Tier 1 With More Content Selling Full System
Slide 8: Additional Growth Opportunities with Volkswagen Group
Additional Growth Opportunities with Volkswagen Group Expanding our reach Existing program Exploring multiple For future automated continues to progress additional programs driving functions, we selected towards a mid-decade Innoviz as our LiDAR partner not launch only because of their automotive ex
Slide 9: InnovizTwo Point Cloud With New Custom ASIC
InnovizTwo Point Cloud With New Custom ASIC Unlocking unprecedented levels of performance © Innoviz Technologies Ltd. 2023 All Rights Reserved – Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner.
Slide 10: Market Capture Window 2023-24
Market Capture Window 2023-24 Global Automotive Opportunity to solidify clear leadership position OEM Production Share2 ~15% Innoviz Pipeline 1 Existing Innoviz ~40% Customers Innoviz 10-15 Programs in RFI / RFQ Pipeline RFI or RFQ ~15% With customers representing Innoviz Innoviz Customers ~40% of g
Slide 11: Signs of L3 / L4 Megatrend Emerging
Signs of L3 / L4 Megatrend Emerging Multiple OEMs pursuing an autonomy roadmap L3 / L4 Autonomy Business Potential for a Steep Megatrend Model is Quickly Evolving S-Curve Historical Megatrends: • Most major OEMs targeting L2+/L3 • Costs can fall over time as • Passive Safety / Airbags (1990-2005) pr
Slide 12: August Capital Raise Supported RFQ Progression
August Capital Raise Supported RFQ Progression Increased cash balance ahead of OEM financial audits Raised $65 million, extending cash runway Increased cash balance ahead of RFQ financial audits Enabled us to move into the final phases of multiple processes Keeps the RFQ focused on technology, where
Slide 13: Next 1-2 Large Deals Could Shape the Industry
Next 1-2 Large Deals Could Shape the Industry Opportunity for Innoviz to solidify leadership position Next 1-2 Deals Could The Flywheel A Winner Takes Shape the Industry Effect Most Market • Believe the market will start to • Wins can lead to more wins • Safety critical coalesce around a winner • Si
Slide 14: The Flywheel Effect
The Flywheel Effect Momentum appears to be accelerating BMW 2nd Gen Development Program Volkswagen L2+/L3 LV L4 Light Production CV Award Program Additional BMW L3 Asian EV Potential LV Production L4 Shuttle OEM L3 LV Decisions in Company Award Production Pipeline Production Founded Award Award 2016
Slide 15: Raised 2023 Targets Twice YTD
Raised 2023 Targets Twice YTD Sources of Pre- Reiterating revenue ramp into fourth quarter Production Income Customer Targets Sample Units +1-3 +2 Much higher ASPs than production units – typically $5,000-15,000 Additional Programs with New Series Production Existing Customers Awards with New Custom
Slide 16: Q3'23 Financial Update
Q3’23 Financial Update Eldar Cegla, Chief Financial Officer
Slide 17: Cash Position & Financial Update Revenues for Q3 2023
Cash Position & Financial Update Revenues for Q3 2023 Liquidity of $164M in cash and cash equivalents, short-term deposits, short term restricted cash and marketable securities as of September 30, 2023 YoY QoQ Innoviz operating cash burn in the third quarter of 2023 was within planned budget $3.5M $
Slide 18: Multiple Potential Near-Term Catalysts
Multiple Potential for Additional Customer Awards • Targeting +1-3 program extensions with existing customers, Potential including BMW Gen 2 and additional awards with the Volkswagen Group Near-Term • Targeting +2 new production awards with new customers • Over half of the 10-15 program pipeline is
Slide 19: Upcoming IR Calendar and Contact
Upcoming IR Calendar November 29 Barclays Global Automotive Conference, Virtual December 6 London NDR December 7 Goldman Sachs Global Automotive Conference, London January 9-12 Consumer Electronics Show (CES), Las Vegas January 16 Needham Growth Conference, Virtual Contact [email protected]
Slide 20: Thank You!
Thank You! © INNO VIZ TECHNOLOGIES