Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Innoviz Technologies Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.06
1.58
-9.36
5.47
6.03
20.9
24.3
55.1
Cost of revenue
0.05
1.99
6.41
10.5
14.8
32.5
25.4
42.2
Gross profit
0.01
-0.41
-15.8
-5.02
-8.76
-11.6
-1.16
12.9
Research and development
48.3
59.4
57
93.3
95.1
92.7
73.8
56.5
Selling and marketing
5.51
6.48
5.43
23.7
10.3
8.78
7.47
5.75
General and administrative
2.44
3.19
3.75
35.6
19.2
19.5
19.5
18.4
Operating expenses
56.3
69
66.2
153
125
121
101
80.6
Operating income
-56.3
-69.5
-82
-158
-133
-133
-102
-67.7
Pre-tax income
-56.4
-67.3
-81.3
-153
-127
-123
-94.6
-67.6
Income tax
0.03
0.01
0.18
0.28
0.33
0.64
0.17
0.17
Net income
-56.4
-67.3
-81.5
-154
-127
-123
-94.8
-67.8
EBITDA
-55.6
-67.8
-79.3
-154
-126
-123
-94.1
-61.9
EPS, basic
-4.14
-5.22
-5.99
-1.54
-0.94
-0.84
-0.57
-0.34
EPS, diluted
-4.14
-5.22
-5.99
-1.54
-0.94
-0.84
-0.57
-0.34
Shares, basic (weighted)
15
15.5
16.5
103
135
147
167
200
Shares, diluted (weighted)
15
15.5
16.5
103
135
147
167
200
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
18.6
72.8
50
23.6
55.7
26.3
25.4
8.64
Short-term investments
0
11.6
41.7
13.3
12
9.47
Receivables
1.02
2.51
0.51
1.76
7.4
6.04
9.98
Inventory
1.34
2.16
4.26
4.24
1.87
1.91
3.34
Other current assets
1.92
3.29
3.03
3.24
5.77
6.71
4.78
Total current assets
112
57.9
274
188
160
82.6
90.2
Property, plant and equipment
11.3
13.2
14.5
30.5
25.8
23.4
19.9
Lease right-of-use assets
0
26.9
25.5
23.2
25.1
Long-term investments
0
38.3
7.84
4.81
0
Other non-current assets
0.1
0.54
0
0.08
0.08
0.08
0.09
Total assets
124
72.6
327
255
219
132
138
Accounts payable
7.15
7.75
5.76
8.37
8.04
8.81
8.6
Accrued liabilities
3.37
2.54
5.17
6.17
7.78
4.61
4.74
Deferred revenue
0.46
1.66
0.2
4.08
6.95
0.27
1.85
Short-term debt
0.25
0.28
Total current liabilities
14.7
17.8
21.7
32.4
37.2
27.8
31.4
Long-term debt
2.33
2.22
0
Lease liabilities
0
30.2
28.5
25.3
29.3
Other non-current liabilities
0
0.6
0
Total liabilities
270
296
28.4
63.4
65.9
53.1
60.7
Total debt
2.57
2.5
0
Paid-in capital
4.18
7.66
684
704
789
809
876
Retained earnings
-150
-231
-385
-512
-635
-730
-798
Shareholders' equity
-80.7
-146
-224
299
192
153
78.9
77.7
Total equity
-80.7
-146
-224
299
192
153
78.9
77.7
Total liabilities and equity
124
72.6
327
255
219
132
138
Shares outstanding
15.9
16.9
134
136
165
169
214
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-56.4
-67.3
-81.5
-154
-127
-123
-94.8
-67.8
Depreciation and amortization
0.66
1.67
2.66
3.96
7.47
9.19
7.79
5.87
Stock-based compensation
1.38
2.17
3.2
64.7
19.4
22.3
19.7
16
Change in receivables
-0.06
-1.06
-1.49
1.99
-1.25
-5.63
1.35
-6.85
Change in inventory
-1.14
-0.2
-0.82
-2.09
0.02
2.37
-0.04
0.24
Cash from operations
-39.4
-69.2
-61.9
-82.5
-93.4
-93.1
-77
-47.9
Capital expenditures
-6.85
-5.85
-5.12
-3.78
-22.6
-6.58
-4.41
-4.25
Purchases of investments
0
0
-104
-30.1
-51.7
-55.5
-37.6
Sales and maturities of investments
53.9
30.1
83.5
62.2
40.3
Cash from investing
40.2
-40.6
29.6
-282
125
1.06
75.5
-21.4
Debt issued
0.58
2.02
0
0
Debt repaid
0
-0.2
-0.28
-2.64
0
0
Stock issued
0.01
0.07
0.28
0.95
0.61
0.46
0.22
0.84
Cash from financing
0.59
163
8.94
337
0.61
61.9
0.22
51.5
Exchange rate effect
-0.61
0.9
0.75
0.72
-1.14
0.52
0.31
1.12
Net change in cash
0.76
54.2
-22.7
-26.2
31.4
-29.6
-0.96
-16.7
Free cash flow
-46.2
-75.1
-67.1
-86.3
-116
-99.6
-81.4
-52.2
Interest paid
0.03
0.09
0.09
0.09
0
0
Income taxes paid
0.03
0.01
0.09
0.24
0.13
0.7
0.23
0.3
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.39 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
23.4%
Gross profit / revenue.
Operating margin
-123.0%
Operating income / revenue.
EBITDA margin
-112.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-122.8%
Pre-tax income / revenue.
Net margin
-123.1%
Net income / revenue.
FCF margin
-94.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-87.0%
Cash from operations / revenue.
Return on equity (ROE)
-86.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-50.1%
Net income / average total assets.
Return on invested capital (ROIC)
-87.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
102.5%
Research and development expense / revenue.
Stock-based pay / revenue
29.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
7.7%
Capital expenditures / revenue.
D&A / revenue
10.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
127.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
109.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-1.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-26.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
4.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-18.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
13.8%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
19.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
13.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
64.7%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.87x
Current assets / current liabilities.
Quick ratio
0.89x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.58x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.34
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.34
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.28
Revenue / diluted weighted shares.
FCF per share
-$0.26
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.24
Cash from operations / diluted weighted shares.
Book value per share
$0.36
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
2.48x
Market cap / revenue.
P/B
1.76x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.76x
Market cap / tangible book value, when positive.
EV/Sales
2.15x
Enterprise value / revenue.
FCF yield
-38.2%
Free cash flow / market cap.
Earnings yield
-49.6%
Net income / market cap (the inverse of P/E).
What was Innoviz Technologies Ltd.'s revenue in fiscal 2025?
Innoviz Technologies Ltd. reported revenue of $55.1M for fiscal 2025, 127% higher than the year before.
Was Innoviz Technologies Ltd. profitable in fiscal 2025?
No. It reported a net loss of $67.8M.
How much free cash flow did Innoviz Technologies Ltd. generate in fiscal 2025?
Cash from operations of $47.9M minus capital expenditures of $4.3M left free cash flow of -$52.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.