Major commercial vehicle OEM selects Innoviz for L4 autonomous trucks

TEL AVIV - Innoviz Technologies Ltd. (NASDAQ:INVZ), a supplier of automotive-grade LiDAR sensor platforms whose stock has surged 198% over the past year, announced Monday it has been selected by a major commercial vehicle manufacturer to supply LiDAR units for SAE Level 4 autonomous class-8 semi-trucks. According to InvestingPro data, the company currently trades at a market capitalization of $317 million.

Under the agreement, Innoviz will initially provide its InnovizTwo sensors for the manufacturer’s data collection trucking fleet this year, while developing software modifications to meet the OEM’s vehicle integration requirements. The autonomous trucks are expected to operate on highway and regional routes across North America. With analysts projecting 129% revenue growth for FY2025, this contract could significantly impact the company’s expansion plans. For deeper insights into Innoviz’s growth potential, InvestingPro offers 12 additional investment tips and comprehensive financial analysis.

"Winning this L4 program with a major and respected truck manufacturer is a milestone that reflects our ability to scale across sectors," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies, according to the company’s press release. The company maintains a strong financial position with more cash than debt and a healthy current ratio of 3.56x, though InvestingPro analysis indicates rapid cash burn remains a concern.

The selection follows a SAE L3 development program awarded to Innoviz earlier this year with a Top 5 passenger vehicle OEM. The company’s LiDAR technology is designed to provide high-resolution sensing capabilities that help autonomous vehicles detect and respond to their surroundings.

The autonomous trucks are intended to help fleet operators reduce costs, improve uptime, and enhance road safety, according to the announcement. Innoviz did not disclose the name of the commercial vehicle manufacturer or the financial terms of the agreement.

Innoviz Technologies operates across the United States, Europe, and Asia, providing LiDAR technology and perception software for automotive and industrial applications.

In other recent news, Innoviz Technologies reported its second-quarter earnings for 2025, which showed a revenue shortfall. The company’s earnings per share (EPS) aligned with forecasts at -$0.09. However, revenue did not meet expectations, totaling $9.75 million compared to the anticipated $10.75 million. This revenue miss has been a notable development for the company. Additionally, the earnings announcement has been followed by a decline in the company’s stock price. Investors and analysts are closely watching these developments. These recent updates are critical for stakeholders assessing Innoviz Technologies’ financial performance.

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