Israel LiDAR supplier Innoviz's Q3 revenue falls; to cut workforce by 20%
INVZ•Innoviz reported Q3 revenue of $12.1 million, below the $18.5 million consensus estimate, and plans to cut its workforce by 20%, targeting $17.5 million in annualized savings. It expects 2026 revenue of $44 million to $46 million.
1. Revenue and workforce cuts
Innoviz said Q3 revenue fell year over year to $12.1 million, below the $18.5 million consensus estimate, after a customer shifted the timing of non-recurring engineering revenue to 2027. The company plans to cut its workforce by 20%, targeting about $17.5 million in annualized savings.
2. Outlook and defense business
Innoviz expects 2026 revenue of $44 million to $46 million, with Perciz defense revenue projected to account for 6% to 7% of the total. It said initial defense and homeland security customer orders have been delivered, and discussions are underway with multiple defense primes in Israel and abroad. Automotive projects with VW, Daimler Truck and others are advancing.
