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Innoviz Technologies Expects Q1 Revenue of $5M-$6M Vs $10.05M Est

Benzinga ·  Feb 28 20:14

2024 Financial and Operational Targets

The Company is establishing initial targets for Q1 2024 and FY 2024:

  • Secure 2-3 additional customer programs in 2024
  • Secure $20-70 million of new NRE bookings in 2024
  • Q1 2024 revenues are expected to be in the range of $5-6 million (+395-494% YoY)

After initially guiding 2023 revenue targets too cautiously, Innoviz is shifting to quarterly revenue targets. There are many factors that can influence full year numbers that can be difficult to predict this early in the year, and the Company believes quarterly guidance will ultimately be a more prudent and accurate way to approach revenue targets at this point in the Company's growth curve.

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