Innoviz Technologies Expects Q1 Revenue of $5M-$6M Vs $10.05M Est
Portfolio Pulse from Benzinga Newsdesk
Innoviz Technologies has set its Q1 2024 revenue expectations to $5-$6 million, a significant increase from previous years, aiming for a 395-494% YoY growth. The company plans to secure 2-3 additional customer programs and $20-70 million in new NRE bookings for 2024. This shift to quarterly revenue guidance comes after a cautious approach to 2023 revenue targets, with the company believing this method offers more accuracy.
February 28, 2024 | 12:14 pm
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Innoviz Technologies sets ambitious Q1 2024 revenue targets of $5-$6M, indicating a significant YoY growth. The company also aims to secure new customer programs and NRE bookings, reflecting a positive outlook.
Setting a significantly higher revenue target for Q1 2024 compared to previous estimates indicates a strong growth trajectory and confidence in securing new contracts. This positive outlook is likely to influence investor sentiment positively in the short term, potentially leading to an increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100