Extension of NRE payment plan announced in December 2024 increases the potential cash payments expected in 2025-2027, further bolstering financial position
Innoviz Technologies Ltd. (Nasdaq: INVZ) (the “Company” or “Innoviz”), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, today announced an expansion of the multi-year NRE (Non-Recurring Engineering) payment plan initially announced in December 2024. The NRE payment plan is the outcome of development activities that Innoviz has performed and will continue to perform for its key existing customers. The expansion of the NRE payment plan is expected to further bolster the Company’s financial position, bringing the total cash payments anticipated from the plan to approximately $95 million from $80 million between 2025 and 2027. These payments will be incremental to revenues generated from ongoing sales of LiDAR products to existing customers and new orders coming from additional programs.
“We are thrilled to further broaden our NRE payment plan with our customers,” said Omer Keilaf, CEO and Founder of Innoviz. “NREs are essential to strategically funding our operations as we approach start of production (SOP) for several projects in 2026. We believe this engagement underscores our customers’ trust in our ability to meet the stringent demands of next-generation autonomous vehicles through our unique technology and production capabilities.”
In support of project SOPs and volume ramps in 2026 and 2027, Innoviz recently announced its partnership with Fabrinet (NYSE: FN) to launch mass production of the InnovizTwo LiDAR platform. Fabrinet’s expertise in automotive-grade manufacturing and global footprint of manufacturing sites spread across the United States and Asia allows Innoviz to scale production to volume efficiently and cost-effectively to meet the demands of current and future customers.
In addition, Innoviz will release its earnings results for the first quarter of 2025 on Wednesday, May 14, 2025, before the market opens.
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