Tier 1 Lidar supplier Innoviz said full year 2023 revenue of US$21m exceeded guidance with year over year growth of 246% while fourth quarter revenue of $15m also exceeded guidance with 328% growth quarter on quarter and 846% growth year on year.

Full year operating loss was $132,602,000, down slightly compared with 2022’s $133,349,000.

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Fourth quarter operating loss improved to $31,798,000 from $36,043,000.

The company hopes to secure two to three new OEM deals in 2024.

Q1 revenue was expected to be $5-$6 million (+395-+494% year on year).

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