Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
TEL AVIV - Innoviz Technologies Ltd. (NASDAQ:INVZ), a provider of LiDAR sensors and perception software, announced it has been notified by Nasdaq of non-compliance with the minimum bid price rule. Currently trading at $0.66 and down over 60% year-to-date according to InvestingPro data, the company’s ordinary shares have closed below the $1.00 threshold for 30 consecutive business days, triggering a notice from the Nasdaq Listing Qualifications Department on March 26, 2025.
Despite the notice, Innoviz’s shares will remain listed on the Nasdaq Capital Market and continue trading under the ticker symbol "INVZ." The company has been granted a 180-day grace period, until September 22, 2025, to regain compliance with Nasdaq’s minimum bid price requirement. Compliance can be achieved if the closing bid price for Innoviz’s shares reaches or exceeds $1.00 for at least ten consecutive trading days within this period. InvestingPro data shows the company maintains strong liquidity with a current ratio of 2.98 and holds more cash than debt on its balance sheet, potentially providing financial flexibility during this period.
Should Innoviz fail to meet the requirement by the end of the grace period, it may be eligible for an additional 180 days to regain compliance, provided it meets all other listing standards and requirements. Innoviz intends to monitor its share price closely and evaluate options to satisfy Nasdaq’s conditions.
Innoviz specializes in high-performance, automotive-grade LiDAR technology and perception software, serving as a Tier-1 supplier to leading automotive manufacturers. The company’s products are designed to enhance safety in autonomous vehicles by surpassing human vision capabilities and reducing the potential for errors. Innoviz operates globally and has been chosen by well-known car brands and industrial leaders for various applications.
This announcement is based on a press release statement and contains forward-looking statements subject to risks and uncertainties. Innoviz’s future compliance with Nasdaq’s listing rules and its continued listing are forward-looking statements that reflect current expectations based on certain assumptions. While analysts project revenue growth for the current year, with an average price target suggesting significant upside potential, these statements are not guarantees of future performance and are subject to known and unknown risks. Innoviz has no obligation to update these statements and advises readers to consider the risks detailed in its SEC filings, including its annual report on Form 20-F filed on March 12, 2025. For deeper insights into Innoviz’s financial health and growth prospects, including 12 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, Innoviz Technologies reported its fourth-quarter 2024 earnings, beating expectations with an earnings per share (EPS) of -$0.11, surpassing the forecasted -$0.14. However, the company fell short of revenue projections, reporting $6.03 million against an anticipated $6.8 million. Despite this, the company demonstrated strong operational improvements, including a significant reduction in cash burn and achieving a positive gross margin for the first time. Innoviz also reported full-year 2024 revenues of $24.3 million, up from $20.9 million in 2023, reflecting a strategic focus on operational efficiency and cost management.
Looking ahead, Innoviz has set a 2025 revenue guidance of $50 million to $60 million, aiming to more than double its 2024 performance. The company anticipates achieving positive gross margins on an annual basis in 2025 and expects significant non-recurring engineering (NRE) payments between 2025 and 2027. Additionally, the company recently completed a registered direct offering, generating gross proceeds of approximately $40 million to support business growth.
In terms of partnerships, Innoviz has unveiled collaborations with companies like Mobileye and NVIDIA, which could potentially expand its market reach. Analyst feedback from firms like Goldman Sachs and JPMorgan suggests a positive outlook on the company’s strategic moves and financial management. These developments indicate a transformative phase for Innoviz as it positions itself for future growth and operational success.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.