InnoVizz Technologies Ltd (NASDAQ:INVZ) Q4 2023 Earnings Conference Call February 28, 2024 9:00 AM ET

Company Participants

Rob Moffatt - VP, Corporate Development & IR

Omer Keilaf - CEO

Eldar Cegla - CFO

Conference Call Participants

Mark Delaney - Goldman Sachs

Andres Sheppard - Cantor Fitzgerald

Kevin Cassidy - Rosenblatt Securities

Kevin Garrigan - WestPark Capital

Rob Moffatt

Good morning, this is Rob Moffatt Vice President of Corporate Development and Investor Relations at InnoVizz, and I want to. Welcome you to our earnings conference call. Joining us today are Omer Keilaf, Chief Executive Officer and Elder Segla, 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.InnoVizz.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 InnoVizz. 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 important risk factors that could cause actual results to differ materially from any forward-looking statements, please see the risk factors section of our Form 20-F filed with the SEC on March 9, 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.. We have a lot to talk about today. Q4 was a record quarter for us There has been some important customer progress since the years and since the quarter has ended The first thing I want to highlight is the amazing revenue performance full year revenues of nearly $21 million. Were up 246% year-over-year and even with raising guidance mid-year.

We came in above the high end of the guidance range In addition to that. We delivered Q4 2023 revenues of nearly $15 million an increase of nearly 850% year-over-year and also above the high end of our quarterly guidance range The strong revenue performance came from a combination of production revenues Robust sample shipments and NREs and it validates our three-pronged approach to growing future revenue streams.