Innoviz Technologies (NasdaqCM:INVZ) - Share price, News & Analysis

INVZ fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

INVZ Stock Overview

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles.

Rewards

Trading at 61.3% below our estimate of its fair value

Revenue is forecast to grow 75.72% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

Innoviz Technologies Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Innoviz Technologies
Historical stock prices
Current Share Price	US$4.16
52 Week High	US$10.64
52 Week Low	US$2.89
Beta	0.30
1 Month Change	-1.65%
3 Month Change	14.29%
1 Year Change	-60.11%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-57.55%

Shareholder Returns

	INVZ	US Electronic	US Market
7D	8.9%	4.5%	6.6%
1Y	-60.1%	-19.7%	-18.4%

Return vs Industry: INVZ underperformed the US Electronic industry which returned -19.7% over the past year.

Return vs Market: INVZ underperformed the US Market which returned -18.4% over the past year.

Price Volatility

Is INVZ's price volatile compared to industry and market?
INVZ volatility
INVZ Average Weekly Movement	14.1%
Electronic Industry Average Movement	7.4%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.6%
10% least volatile stocks in US Market	3.2%

Stable Share Price: INVZ is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: INVZ's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2016	419	Omer Keilaf	https://www.innoviz.tech

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy. Its automotive-grade sensor is integrable into Level 3 through 5 autonomous vehicles for the safety of passengers and pedestrians.

Innoviz Technologies Fundamentals Summary

How do Innoviz Technologies's earnings and revenue compare to its market cap?
INVZ fundamental statistics
Market Cap	US$558.42m
Earnings (TTM)	-US$168.15m
Revenue (TTM)	US$6.51m

85.8x

P/S Ratio

-3.3x

P/E Ratio

Is INVZ overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
INVZ income statement (TTM)
Revenue	US$6.51m
Cost of Revenue	US$11.46m
Gross Profit	-US$4.95m
Other Expenses	US$163.21m
Earnings	-US$168.15m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.25
Gross Margin	-75.97%
Net Profit Margin	-2,581.84%
Debt/Equity Ratio	0%

How did INVZ perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is INVZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INVZ?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for INVZ. This is calculated by dividing INVZ's market cap by their current preferred multiple.
What is INVZ's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$558.42m

INVZ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	48x
Enterprise Value/EBITDA	-1.9x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does INVZ's PB Ratio compare to its peers?

INVZ PB Ratio vs Peers

The above table shows the PB ratio for INVZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	14.6x

Price-To-Book vs Peers: INVZ is good value based on its Price-To-Book Ratio (2x) compared to the peer average (14.6x).

Price to Earnings Ratio vs Industry

How does INVZ's PE Ratio compare vs other companies in the U.S. Electronic Industry?

Price-To-Book vs Industry: INVZ is expensive based on its Price-To-Book Ratio (2x) compared to the US Electronic industry average (1.9x)

Price to Book Ratio vs Fair Ratio

What is INVZ's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INVZ PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	2x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate INVZ's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of INVZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INVZ ($4.16) is trading below our estimate of fair value ($10.74)

Significantly Below Fair Value: INVZ is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate INVZ's PEG Ratio to determine if it is good value.

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Future Growth

How is Innoviz Technologies forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

33.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: INVZ is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: INVZ is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: INVZ is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: INVZ's revenue (75.7% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: INVZ's revenue (75.7% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if INVZ's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Innoviz Technologies performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-30.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INVZ is currently unprofitable.

Growing Profit Margin: INVZ is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: INVZ is unprofitable, and losses have increased over the past 5 years at a rate of 30.9% per year.

Accelerating Growth: Unable to compare INVZ's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: INVZ is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (33%).

Return on Equity

High ROE: INVZ has a negative Return on Equity (-59.66%), as it is currently unprofitable.

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Financial Health

How is Innoviz Technologies's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: INVZ's short term assets ($250.2M) exceed its short term liabilities ($19.9M).

Long Term Liabilities: INVZ's short term assets ($250.2M) exceed its long term liabilities ($33.2M).

Debt to Equity History and Analysis

Debt Level: INVZ is debt free.

Reducing Debt: INVZ had no debt 5 years ago.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: INVZ has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: INVZ has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 16% each year

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Dividend

What is Innoviz Technologies's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

16.03%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate INVZ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate INVZ's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if INVZ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if INVZ's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as INVZ has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure

CEO

Omer Keilaf (42 yo)

6.42yrs

Tenure

Mr. Omer David Keilaf serves as Independent Director at Perception Capital Corp. II since October 2021. Mr. Keilaf is the Co-Founder of Innoviz Technologies Ltd and has been its Chief Executive Officer and...

Leadership Team

Experienced Management: INVZ's management team is considered experienced (3.1 years average tenure).

Board Members

Experienced Board: INVZ's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/26 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31