Rankings Autos & parts Innoviz

Innoviz

Autos & parts · United StatesRank 575 of 829Prices 2 Nov 2026Model 1.4Penny

The model found several serious problems. That does not mean the stock will fall.

Biggest deductions

  • Margin−10
  • Funding and dilution−7
  • Capital allocation−6

Strengths

  • Validation from OEMs and defence+3
  • Net cash+1

Speculative profile

A penny stock under DKK 3. The asymmetry rating is separate from the Bjarvik score and is not a recommendation.

All penny stocks
Asymmetry (1–10)
4
Price
2.39 DKK
Market value
DKK 689m
Cash runway
15 months
Cash / debt
76.0 / 35.6m USD
Dilution, 12 months
+40%

Bull case

The Mobileye robotaxi task (approx. 150,000 lidars) and 2–3 new programmes in 2026 materialise, VW ID. Buzz goes into series production, and the Perciz defence orders grow. If revenue reaches USD 120–150m in 2027–28 with positive gross margin, EV/revenue of 2–3 would give an EV of USD 250–450m vs approx. 92m today = 3–4x.

Bear case

Robotaxi and VW volumes are delayed, NRE dries up, and gross margin stays at zero. With a burn of about USD 60m a year, money must be raised again in 2027 after a reverse split, perhaps at half the price; in the worst case the stock is delisted to OTC. The stock may fall a further 50–80%, but the net cash and the customers make zero less likely on a 12-month horizon.

Catalysts

  1. 11 Nov 2026Q3 report: NRE payments, progress towards guidance (67–73m USD) and new programmesgradual stockanalysis.com
  2. 2026 (rest of the year)Target of 2–3 new programme wins (automotive, robotaxi via Mobileye, Perciz defence)binary sec.gov
  3. By 2027-03-22 at the latestReverse split (approved 1:5–1:20) to reach USD 1 before the Nasdaq deadlinebinary sec.gov
Risk of going to zeromedium – no bank debt and approx. 15 months of runway, but a structural deficit of approx. USD 60m a year and gross margin near zero require repeated share issues
Next financingCash of USD 48.5m at 30/6 + approx. 28m net from the issue on 29/7 = approx. 76m. With spending of approx. 15m per quarter (operating cash flow −28.8m in H1) the money lasts until approx. the end of 2027. NRE payments of 20–30m in 2026 could extend runway, but a new issue (probably after a reverse split) must be expected in 2027.
Warrants & convertiblesNo convertible loans found. Registered direct offering 28/7-2026: 66.7m shares at USD 0.45 (USD 30m gross, Titan Partners); warrants in the deal not confirmed. Share-based compensation c. USD 4m per quarter. ATM programme not examined in F-3.
Insiders, last 12 monthsNo insider trades found; as a foreign private issuer, Innoviz does not file Form 4. Insiders own c. 2.7%.
Largest ownersNot examined in detail; institutions own c. 16% and insiders c. 2.7% (stockanalysis).
Circio check(1) Small market cap: yes – approx. USD 105m. (2) Hot theme: yes – lidar, robotaxi, 'Physical AI' and defense. (3) Upcoming milestones: yes – program wins and robotaxi decisions, but no fixed date. (4) Major partner: yes – VW and Mobileye, Daimler Truck. (5) Funding for 2+ years: no – approx. 15 months. (6) Price near the bottom: yes – −81% in a year.
Why this asymmetryReal OEM customers, net cash and a hot theme make 3–4x possible on programme wins, but gross margin near zero, a reverse split and an almost certain new issue in 2027 pull it down.

How the score is built

From 100 to 48, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start
48Score

Hover or select a step to see what drove it. Steps with findings open them below.

Key numbers

As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.

Price
0.23 USD
Median analyst target
–
Upside to median
–
Analysts
none
Target range
–
52-week change
−88%
P/E (trailing)
n/a
Forward P/E
n/a
PEG
n/a

Findings

Every deduction and every plus, with its source. Open a step to read them.

Business

Is the company getting stronger, not just bigger? · 4 findings−25 of −30
  • Margin
    The gross margin was only 3.9% in Q2 2026 and 6.5% TTM (−22% in Q1), the operating margin −154% TTM, and the TTM loss is USD 81m on 53m in revenue. ROIC −48%.
    stockanalysis.com
    −10
  • Quality of growth
    Record revenue of USD 18.1m in Q2 (+86%), but Q1 fell 59% to 7.1m. Revenue is driven by one-off NRE payments (expected 20–30m in 2026) rather than series relevance; guidance 67–73m for 2026.
    sec.gov
    −5
  • Moat
    Automotive lidar is becoming a commodity with Chinese competitors (Hesai, RoboSense) at large scale; Innoviz's gross margin near zero shows that the company has no pricing power.
    stockanalysis.com
    −4
  • Capital allocation
    Cash has fallen from USD 304m (2021) to 48m, and 66.7m new shares were issued at USD 0.45 in July 2026; the share count has risen from approx. 205m to approx. 288m in a year (approx. +40%).
    tipranks.com
    −6

Price

Today's multiples against the company's own history and its peers. · 1 finding−4 of −35
  • Multiples vs own history and peers
    P/S 1.97 and EV/revenue 1.73 vs 3.2/2.5 in 2025 and 11.7/9.3 in 2024; cheap vs its own history, but there is no earnings or positive FCF to measure on, and the low multiple reflects dilution and delisting risk.
    stockanalysis.com
    −4

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−21 of −35
  • Funding and dilution
    Operations burn about USD 15m per quarter (FCF −55m TTM). Cash of 48.5m plus about 28m net from the issue gives about 15 months of runway, so a new issue in 2027 is likely unless NRE payments and new programmes close the gap.
    sec.gov
    −7
  • Customer concentration
    Germany (the VW group via the Mobileye platform) accounted for 45 of 55 USD m (82%) of revenue in 2025. Delays in the VW ID. Buzz/Mobileye programme therefore hit almost the entire business.
    stockanalysis.com
    −6
  • Listing risk
    Below USD 1 since March 2026; the first deadline (21/9-2026) was exceeded, and Nasdaq has granted 180 more days to 22/3-2027. The general meeting on 16/9 approved a reverse split of 1:5 to 1:20; at USD 0.36 at least approx. 1:3 is required. Otherwise the share risks OTC, where Nordnet does not trade.
    sec.gov
    −5
  • Price risk and bankruptcy score
    The price has fallen 81% over 52 weeks, Altman Z-score is -9.2, Piotroski 2, and 7.4% of shares are sold short (8 days to cover).
    stockanalysis.com
    −3

Plus

Only documented strengths. · 2 findings+4 of +15
  • Validation from OEMs and defence
    Lidar in the VW ID. Buzz on the Mobileye Drive platform (nine lidars per car), a Daimler Truck program on track, a possible robotaxi job of about 150,000 units and a first Perciz defense order of USD 3.5m (30/7-2026).
    sec.gov
    +3
  • Net cash
    Net cash of USD 12.8m as of 30/6 (debt of 35.6m is primarily leasing), and approx. 40m after the July share issue; no bank debt or convertibles.
    stockanalysis.com
    +1

Caveats

What the score does not capture, or where the data is weak.
Israeli lidar company (foreign private issuer: only 6-K/20-F, no Form 4, so insider trades have not been checked); revenue is lumpy and contains a large share of NRE payments, so the growth rate swings greatly from quarter to quarter; the share count after the July issue is unclear (stockanalysis 288m, the Q2 announcement mentions lower figures); no analysts on stockanalysis (forecast 404); largest owners and any ATM program in F-3 not reviewed; industry set to Cars & auto parts, even though the defense brand Perciz and 'Physical AI' pull towards Tech hardware & optics

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