Innoviz Technologies Ltd. (NASDAQ:INVZ) Q2 2023 Earnings Conference Call August 2, 2023 9:00 AM ET

Company Participants

Rob Moffatt - Vice President-Business Development and Investor Relations

Omer Keilaf - Co-Founder and Chief Executive Officer

Eldar Cegla - Chief Financial Officer

Conference Call Participants

Mark Delaney - Goldman Sachs

Andres Sheppard - Cantor

Kevin Cassidy - Rosenblatt Securities

Kevin Garrigan - WestPark Capital

Samik Chatterjee - JPMorgan

Operator

Good morning. This is Rob Moffatt, Vice President of Corporate Development and Investor Relations at Innoviz. And I want to welcome you to our earnings conference call.

Joining us today are Omer Keilaf, Chief Executive Officer; and Eldar Cegla, Chief Financial Officer. Following their opening remarks, we will open the call to your questions. I would like to remind everyone that this call is being recorded and will be available on the Investor Relations section of our website at ir.innoviz.tech.

Before we begin, I would like to remind you that our discussion today will include forward-looking statements that are subject to risks and uncertainties relating to future events and the future financial performance of Innoviz. Actual results could differ materially from those anticipated in the forward-looking statements.

Forward-looking statements made today speak only to our expectations as of today and we undertake no obligation to publicly update or revise them. For discussion of some of the important risk factors that could cause actual results to differ materially from any forward-looking statements, please see the Risk Factors section of our 20-F filed with the SEC on March 09, 2023.

I will now turn the call over to Omer. Please go ahead.

Omer Keilaf

Thank you Rob, and good morning everyone and thank you for joining us. 2Q was a really, really big quarter for Innoviz. While the quarter itself was only 90 days long, you could say it was actually five years in the making. This quarter we delivered on what was easily the biggest milestone in our company’s history. We shipped our first production units ever. They are on their way to our customer and close partner BMW and will be installed in the grille of the beautiful 7 Series, which will include our InnovizOne LiDAR sensor and AI-enabled perception software package.

I know many of you saw this already, but BMW Blog did a wonderful article and video summarizing BMW Group’s plans for the Level 3 7-Series. If you haven’t watched it yet, I encourage you to go to BMWblog.com or search for it on YouTube