Innoviz Technologies Ltd. (NASDAQ:INVZ) reported its third-quarter financial results for the period ended September 30, 2026, and updated its full-year 2026 targets in an announcement issued November 11, 2026.

Key Highlights

  • Q3 2026 revenues of $12.1 million, down from $15.3 million in Q3 2025, according to the filing.
  • Operating expenses rose 9% to $19.7 million in Q3 2026, compared to $18.1 million in Q3 2025.
  • Liquidity of approximately $54.4 million as of September 30, 2026, consisting of cash, short-term deposits, marketable securities, and short-term restricted cash.
  • Workforce reduction of approximately 20% as part of an operational realignment expected to deliver annualized cost savings of approximately $17.5 million versus the current run rate.
  • Full-year 2026 revenue target updated to $44-$46 million, with Perciz defense revenue targeted at approximately 6-7% of total revenue.
  • MAFAT recognition received in September for the maturity and performance of Innoviz LiDAR solutions and their suitability for defense applications.
  • New NRE payment plan target of $20-$30 million and 2-3 new program wins included in updated FY 2026 operational targets.

Innoviz Reports Lower Q3 Revenue, Launches Realignment as Defense Push Advances

Innoviz Technologies reported Q3 2026 revenues of $12.1 million, derived from a combination of NRE (Non-Recurring Engineering) services and sales of LiDAR units, according to the filing. The company disclosed that revenues declined from $15.3 million in Q3 2025, attributing the shortfall primarily to a delay in NRE revenues as "a customer shifted the timing of programs." The company indicated it expects to realize the full value of these NREs in 2027.

Operating expenses in the quarter were $19.7 million, a 9% increase compared to $18.1 million in Q3 2025. To address profitability, the company disclosed it is implementing an operational realignment in the fourth quarter, which includes reducing its workforce by approximately 20% and streamlining R&D and operations. The company stated it expects the realignment to deliver cost savings of approximately $17.5 million on an annualized basis compared to its current run rate, and that the realignment "supports our runway into 2028," according to CEO Omer Keilaf's statement in the filing.

On the defense side, the company reported that its Perciz brand has begun delivering initial customer orders and has shipped samples to dozens of entities for testing and integration. Israel's Directorate of Defense Research and Development, MAFAT, recognized the performance and suitability of Innoviz's LiDAR solutions for defense applications in September, according to the filing. The company disclosed active discussions with multiple strategic defense primes in Israel and abroad. In automotive, the filing noted that projects with VW and Daimler Truck are progressing, along with Level 3 and Level 4 development programs including work with LOXO on its Level 4 autonomous delivery platform. The company stated it does not currently intend to provide guidance on new program wins or NRE payment plans in future periods as it increases its focus on the defense market.

What Was Disclosed

Innoviz Technologies disclosed Q3 2026 financial results showing $12.1 million in revenue and $19.7 million in operating expenses, updated its FY 2026 revenue target to $44-$46 million, and announced an operational realignment including an approximately 20% workforce reduction with expected annualized savings of approximately $17.5 million.