Innoviz Technologies (NASDAQ:INVZ) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$6.66m (up 355% from 2Q 2023).

• Net loss: US$21.2m (loss narrowed by 32% from 2Q 2023).

• US$0.13 loss per share (improved from US$0.23 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Innoviz Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) also surpassed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 53% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are down 1.8% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Innoviz Technologies, and understanding this should be part of your investment process.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.