Innoviz Reports 59% Q1 Revenue Drop, Keeps $67–$73M 2026 Guidance with Defense Expansion
Innoviz’s first-quarter revenue plunged to $7.1 million from $17.4 million year-over-year, partly due to NRE milestones shifting out of the period. The company reaffirmed its 2026 targets of $67–$73 million revenue, two to three new program wins and up to 10% non-automotive revenue with $20–30 million in new NRE plans.
1. First-Quarter Financial Results
Innoviz reported first-quarter revenue of $7.1 million, down from $17.4 million in Q1 2025, citing the shift of NRE milestones to later periods.
2. 2026 Full-Year Guidance Maintained
Management reaffirmed 2026 revenue targets of $67–$73 million, two to three new program wins, non-automotive revenue contributing up to 10%, and $20–30 million in new NRE arrangements.
3. Expansion into Defense and Non-Automotive Markets
The company highlighted entry into defense, homeland security, robotics and perimeter security segments, aiming to diversify its LiDAR applications beyond automotive and capture higher-margin opportunities.