Innoviz Technologies Ltd (INVZ) 2024 Q2 法說會逐字稿

Good morning. I would like to welcome you to our Q2 2024 earnings conference. Joining us today are Omer Keilaf, Chief Executive Officer; and Eldar Cegla, Chief Financial Officer. Following their opening remarks, we will open the call to your questions.

早安.歡迎您參加我們的 2024 年第二季財報會議。今天加入我們的是執行長 Omer Keilaf；和財務長 Eldar Cegla。在他們的開場白之後，我們將開始回答您的問題。

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.innoviz.tech.

我想提醒大家，這次電話會議正在錄音，並將在我們網站 ir.innoviz.tech 的投資者關係部分提供。

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 Interphase. Actual results could differ materially from those anticipated in the forward-looking statements.

在開始之前，我想提醒您，我們今天的討論將包括前瞻性陳述，這些陳述受到與未來事件和 Interphase 未來財務表現相關的風險和不確定性的影響。實際結果可能與前瞻性陳述中的預期有重大差異。

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 12, 2024. Omar, please go ahead.

今天所做的前瞻性陳述僅代表我們截至目前為止的預期，我們沒有義務公開更新或修改這些陳述，以討論可能導致實際結果與任何前瞻性陳述有重大差異的一些重要風險因素，請參閱我們於2024年3 月12 日向SEC 提交的20-F 表格中的風險因素部分。奧馬爾，請繼續。

Thank you, Maya, and good morning, everyone. Thank you for joining us. In the second quarter, we continued our strong performance on all fronts. Revenues were $6.7 million above the guidance range of $4 million to $5 million we provided last quarter.

謝謝瑪雅，大家早安。感謝您加入我們。第二季度，我們在各方面持續保持強勁表現。收入比我們上季度提供的 400 萬至 500 萬美元的指導範圍高出 670 萬美元。

These strong revenues in tandem with our ability to operate efficiently contributed to another quarter of decreased cash burn on both a sequential and year two year basis. This morning, we reached an important agreement with a major platform partner to supply our set of short and long-range Schneiders to their Level 4 autonomous driving platform which has already been selected by several OEM programs.

這些強勁的收入與我們高效營運的能力相結合，導致現金消耗環比和兩年來又減少了四分之一。今天早上，我們與一家主要平台合作夥伴達成了一項重要協議，為他們的 4 級自動駕駛平台提供我們的短程和遠程施耐德系列，該平台已被多個 OEM 項目選中。

You can imagine the efforts that went into making this happen. We are all very excited and look forward to sharing more information about a partner and associated OEM programs in the coming months.

您可以想像為實現這一目標所付出的努力。我們都非常興奮，並期待在未來幾個月分享有關合作夥伴和相關 OEM 計劃的更多資訊。

Yesterday we announced an agreement with The Indoor Lab, a world leader in non-automotive LiDAR analytics, to supply InnovizTwo LiDARs within their airport portfolio beginning with Denver, Nashville and Tampa international airports, with more airports expected to be added to the program.

昨天，我們宣布與非汽車LiDAR 分析領域的全球領導者The Indoor Lab 達成協議，從丹佛、納許維爾和坦帕國際機場開始，在其機場產品組合中提供InnovizTwo LiDAR，預計還會有更多機場加入該計劃。

Beyond these announcements, we are busy meeting with existing and potential customers across the globe. A few weeks ago, I was traveling throughout the US and we've spent significant time in Korea, Japan and Europe as well.

除了這些公告之外，我們還忙於與全球現有和潛在客戶會面。幾週前，我在美國各地旅行，我們也在韓國、日本和歐洲度過了很長一段時間。

And I'm planning to be back in the US next week to meet with additional customers. Importantly, we continue to progress our pipeline of existing RFIs and RFQs, having bolstered our relationships with new and existing customers through the addition of new programs while engaging with prospective customers to pursue additional opportunities to provide them with our solutions.

我計劃下週返回美國與更多客戶會面。重要的是，我們繼續推動現有的 RFI 和 RFQ 管道，透過增加新計劃來加強我們與新客戶和現有客戶的關係，同時與潛在客戶合作，尋求更多機會為他們提供我們的解決方案。

Meanwhile, we federal matured the innovative platform that upgraded our advanced AI perception software during the quarter.

同時，我們在本季完善了創新平台，升級了我們先進的人工智慧感知軟體。

First, I'll discuss the announcement we made this morning. As you saw this morning, we announced that we have reached an important agreement with a major platform partner to supply and brought a bundle of InnovizTwo short and long-range riders to the Level 4 autonomous driving platform.

首先，我將討論我們今天早上發布的公告。正如您今天早上所看到的，我們宣布我們已與一家主要平台合作夥伴達成一項重要協議，為 4 級自動駕駛平台供應並帶來一批 InnovizTwo 短程和遠程騎手。

Importantly, this platform is already been selected by several OEM programs. We are very excited by the potential of this platform as Innoviz can further benefit from additional OEMs selecting this platform in this program. Innovative set of supplies multiple short and long reach riders. Their autonomous vehicle significantly increasing the number of flight hours per vehicle with the high quantity of flight hours per vehicle across multiple OEMs.

重要的是，該平台已被多個 OEM 專案選取。我們對該平台的潛力感到非常興奮，因為 Innoviz 可以從在該計劃中選擇該平台的其他 OEM 中進一步受益。創新的一套可為多個短距離和長距離騎士提供服務。他們的自動駕駛汽車顯著增加了每輛車的飛行小時數，多個 OEM 廠商的每輛車的飛行小時數都很高。

We expect to achieve significant volume generation more quickly. We expect to disclose the name of the partner in the coming months and look forward to sharing additional details. This is an important partnership for Innoviz and we expect that being part of this platform will lead to further opportunities as more OEMs adopt the platform.

我們期望更快實現顯著的產量產生。我們預計在未來幾個月內披露合作夥伴的名稱，並期待分享更多詳細資訊。這是 Innoviz 的重要合作夥伴關係，我們預計，隨著更多 OEM 廠商採用該平台，成為該平台的一部分將帶來更多機會。

We believe that our selection for this platform is a vote of confidence in our products and technology and has the potential to accelerate the growth of our business.

我們相信，選擇這個平台是對我們的產品和技術的信任票，並且有潛力加速我們的業務成長。

Now I will go into further detail on the addition of the short-range LiDAR to our portfolio and it's significant through the introduction of this product, which features over 90 degrees of vertical field of view, we are meeting the requirements for short-range detection needed for Level 4 applications, leveraging the maturity of the InnovizTwo platform.

現在我將進一步詳細介紹在我們的產品組合中添加短距離雷射雷達，透過介紹該產品意義重大，該產品具有超過 90 度的垂直視場，我們滿足了短距離檢測的要求4 級應用程式所需，利用InnovizTwo 平台的成熟度。

We are delivering both short-range and long-range solutions for customers, and we can now offer both to the same customer as a bundle, we can now provide a full set of solutions to customers as a one-stop shop. This delivers additional benefits for customers because they're streamlining their supply chain by using a single supplier by lowering the time and cost invested and minimizing risk.

我們為客戶提供短期和遠端解決方案，現在我們可以將這兩種解決方案作為捆綁包提供給同一客戶，我們現在可以為客戶提供全套解決方案作為一站式服務。這為客戶帶來了額外的好處，因為他們透過使用單一供應商來簡化供應鏈，減少投資的時間和成本並最大限度地降低風險。

With the announcements of today, we are now providing a viable short and long range bundle through a credible partner across multiple OEMs with higher income per vehicle. Importantly, adding sourcing barrels to our portfolio has also unlocked a new batch of RFI and RFQ opportunities with other customers, which we are working to convert, it's not likely to gain more level for customers.

透過今天的公告，我們現在透過跨多個 OEM 的可靠合作夥伴提供可行的短期和長期捆綁包，每輛車的收入更高。重要的是，在我們的產品組合中添加採購桶也為其他客戶釋放了一批新的 RFI 和 RFQ 機會，我們正在努力將其轉化，但不太可能為客戶獲得更多水平。

We expect our volumes to grow rapidly and our unit economics to continue to improve while cost decrease. This is because we believe we will be meaningfully increasing the number of flight hours we can alter per vehicle, which should allow us to take advantage of synergies from working off the same innovation to platform.

我們預計我們的銷售將快速成長，單位經濟效益將繼續改善，同時成本下降。這是因為我們相信我們將有意義地增加每輛車可以改變的飛行小時數，這應該使我們能夠利用相同的創新平台的協同效應。

We believe that our track record gives prospective customers confidence that we can provide them with automotive grade solutions in relatively short timeframes and within the technological specifications. During the quarter, we continued to mature our technology and progress the industrialization of Innoviz, still the enormous to be sample has gone through design changes to better meet SOP requirements in terms of size performance and automotive standards.

我們相信，我們的業績記錄讓潛在客戶相信我們能夠在相對較短的時間內並在技術規格範圍內為他們提供汽車級解決方案。本季度，我們繼續完善技術，推進Innoviz的產業化，但仍對大量待測樣品進行了設計變更，以更好地滿足SOP在尺寸性能和汽車標準方面的要求。

As a result, we made it more compact and it's now meets automotive requirements. This new configuration is now being standardized across programs. This configuration requires changes to the production processes that we expect to complete during the third quarter of 2024.

因此，我們使其變得更加緊湊，現在可以滿足汽車要求。這種新的配置現在正在跨項目標準化。此配置需要對生產流程進行更改，我們預計將在 2024 年第三季完成。

Meanwhile, we are maturing the short-range radar to be ready for production towards the end of this year, we already have large orders of the latest innovations to configurations for long range and short range. And once we reach full production capacity, we'll be able to ship these orders to customers, we do not expect any further changes to the product and anticipate taking this version of the InnovizTwo to SOP.

同時，我們正在完善短程雷達，準備在今年年底投入生產，我們已經獲得了遠程和短程配置的最新創新配置的大量訂單。一旦我們達到滿載生產，我們將能夠將這些訂單運送給客戶，我們預計產品不會有任何進一步的變化，並預計將此版本的 InnovizTwo 納入 SOP。

As I mentioned at the beginning of the call, we recently spent time with different potential customers demonstrating the advantages of our advanced AI perception software. InnovizOne is already in production and in vehicles on the road with the perception software.

正如我在電話會議開始時提到的，我們最近與不同的潛在客戶一起展示了我們先進的人工智慧感知軟體的優勢。InnovizOne 已投入生產並安裝在搭載感知軟體的車輛中。

We've upgraded the software to be compatible with InnovizTwo, and we just conducted our first tool to show the InnovizTwo an AI perception filter to leading customers in the US, we met with a number of notable OEMs who provided positive feedback.

我們已經升級了軟體以與 InnovizTwo 相容，並且我們剛剛使用了第一個工具向美國領先客戶展示了 InnovizTwo 的 AI 感知過濾器，我們會見了許多提供了積極反饋的著名 OEM 廠商。

During our discussions. We were very impressed by our unique offering of long range and short range LiDARs coupled with our AI perception software, a key differentiator for InnovizTwo compared to other only LiDAR providers, a significant portion of our existing and potential customer base sees that a perception. Softer is a key part of their RFQ requirements.

在我們的討論中。我們獨特的長距離和短距離LiDAR 產品以及我們的AI 感知軟體給我們留下了深刻的印象，這是InnovizTwo 與其他LiDAR 提供者相比的一個關鍵區別，我們現有和潛在客戶群中的很大一部分都看到了這種感知。更柔和是他們詢價要求的關鍵部分。

Without AI perception softer, LiDAR companies cannot compete for this business. We're pleased to share that just recently top 10 OEMs have indicated their need for a perception softer. It's part of their requirements with has the advantage of already having a product on the road with perception softer. These OEMs were impressed by the demonstrations we gave them during outdoor.

如果沒有更軟的人工智慧感知，光達公司就無法競爭這項業務。我們很高興地告訴大家，最近十大原始設備製造商都表示他們需要更柔和的感知。這是他們要求的一部分，其優點是已經上路的產品具有更柔和的感知。這些原始設備製造商對我們在戶外進行的演示印象深刻。

Another important point I'd like to call out is what we're seeing in level three and Level 4 markets in our Level three programs. We are currently seeing vehicle volumes that are higher than Level 4 programs because with Level three autonomy only require one to two liters per vehicle, while Level 4 vehicles volumes are growing.

我想指出的另一個重要點是我們在三級計劃中在三級和四級市場中看到的情況。我們目前看到的車輛數量高於 4 級計劃，因為三級自動駕駛每輛車只需要一到兩公升，而 4 級車輛數量正在增加。

The multiples are very high and can vary depending on the type of vehicle. For example, in robotaxis, there can be six to nine liters per vehicle, including both short and long range. While in trucks there can be up to 12.

該倍數非常高，並且可能因車輛類型而異。例如，在機器人計程車中，每輛車可以有六到九公升的油，包括短程和長程。卡車上最多可容納 12 個。

In Level 4 programs. We are offering a combination of our short and long-range LiDARs while Level three we are typically providing long-range only with the combined vehicle volumes of our Level three and Level 4 programs, we are nearly doubling the number of flavors we could potentially offer to the market at a given time.

在 4 級課程中。我們提供短程和遠程雷射雷達的組合，而三級我們通常僅提供遠程雷射雷達，我們的三級和四級計劃的車輛總量相結合，我們幾乎將我們可能提供的口味數量增加了一倍在特定時間進入市場。

Now I'll shift to the customer. We announced yesterday the indoor lab and world leader in automotive, LiDAR analytics. We were pleased to share that the indoor lab will deploy. It'll be still within their elbows portfolio with the aim of keeping passenger safe, improving operational efficiency that elbows and mitigating damage to airport property.

現在我將轉向客戶。我們昨天宣布了室內實驗室和汽車光達分析的全球領導者。我們很高興地宣布室內實驗室即將部署。它將仍然在他們的職責範圍內，目的是確保乘客安全、提高營運效率並減輕對機場財產的損害。

InnovizTwo LiDARs will be deployed in the Denver International Airport, one of the largest and fastest growing US airports, the Nashville International Airport, also one of the fastest growing US airports and at Tampa International Airport both in overseas and in the lab, expect more airports to be added as part of this agreement.

InnovizTwo LiDAR將部署在美國最大、發展最快的機場之一丹佛國際機場、美國發展最快的機場之一納許維爾國際機場以及海外和實驗室的坦帕國際機場，預計會有更多機場作為本協議的一部分添加。

On this program, we were told that we're displacing the previous layer supplier to the program in all disease discussions. The Indo lab noted there were highly impressed by InnovizOne to high point of density and high frame rates.

在這個計劃中，我們被告知我們將在所有疾病討論中取代該計劃的前一層供應商。Indo 實驗室指出，InnovizOne 的高密度點和高幀速率給他們留下了深刻的印象。

These capabilities will enable the customers of ultimate perception platform to deliver exceptional products and services for their key airports partners more of which are expected to be added in the near future.

這些功能將使終極感知平台的客戶能夠為其主要機場合作夥伴提供卓越的產品和服務，預計在不久的將來還會增加更多產品和服務。

Now taking a closer look at our robust pipeline of RFIs and RFQs. During the quarter, we increased the number of programs in the pipeline and we see an uptick in interest in offshore drilling barrels. We have more than 15 programs currently in the pipeline, all of which require long-range LiDAR and five of which also require short-range.

現在仔細看看我們強大的 RFI 和 RFQ 管道。在本季度，我們增加了管道中的項目數量，我們看到人們對海上鑽井桶的興趣增加。目前我們有超過 15 個項目正在進行中，所有項目都需要遠端 LiDAR，其中 5 個項目也需要短程 LiDAR。

In total, 50% of the pipeline is currently in the RFQ stage, I wanted to call out one potential new customer in particular that was added to the pipeline just over the last quarter. This important potential customer is working with us on an RFQ for their second generation of Level three platform.

總共有 50% 的管道目前處於詢價階段，我想特別指出一個潛在的新客戶，該客戶是在上個季度剛剛添加到管道中的。這個重要的潛在客戶正在與我們合作為其第二代三級平台進行詢問。

The RFQ is moving along well program, which features strong volume is expected to launch in 2026. In addition, last quarter, we mentioned that we were working with the leading Level 4 platform company in the trucking space.

詢價計畫正在順利推進，預計 2026 年推出，交易量強勁。此外，上個季度，我們提到我們正在與卡車運輸領域領先的 4 級平台公司合作。

We are in close contact with this customer and met with them just a few weeks ago. This opportunity continues to progress with large volumes expected that we will add multiple layers, fair Level 4 vehicle. incorporating .

我們與該客戶保持密切聯繫，並在幾週前與他們會面。這個機會繼續進展，預計我們將添加多層、公平的 4 級車輛。併入。

The customer has also informed us that they may be interested in of our short range for this platform. This partner and multiple customers for this platform.

客戶也告訴我們，他們可能對該平台的短期產品感興趣。該平台的該合作夥伴和多個客戶。

The next step for this program is the supplier agreement. We have much to be excited about and we are working tirelessly to advance these opportunities as well as the ones I haven't talked about today with the goal of converting them into new design wins taking a step back and looking at the market as a whole for OEMs and other customers need technology that meets the evolving safety requirements while solving their problems ultimately delivering a seamless autonomous driving experience.

該計劃的下一步是供應商協議。我們有很多值得興奮的事情，我們正在不懈地努力推進這些機會以及我今天沒有談論的機會，目標是將它們轉化為新的設計勝利，退後一步並著眼於整個市場對於原始設備製造商和其他客戶來說，他們需要的技術能夠滿足不斷變化的安全要求，同時解決他們的問題，最終提供無縫的自動駕駛體驗。

These are the credible Tier one supplier with a proven ability to execute as we continue to further advance our technology and expand our pipeline, which is demonstrating its capabilities to address key areas of concern across autonomy levels.

這些是可靠的一級供應商，隨著我們繼續進一步推進我們的技術並擴大我們的管道，它們具有經過驗證的執行能力，這證明了其解決各個自治級別所關注的關鍵領域的能力。

For example, in our conversations, potential customer customers have expressed being impressed by the ability of InnovizTwo LiDARs functioning conditions will water or blockages are present without noticeable degradation to visibility.

例如，在我們的對話中，潛在客戶表示對 InnovizTwo LiDAR 的工作能力印象深刻，即使有水或阻塞，能見度也不會大幅下降。

A very important KPI potential and existing customers are noticing the advantages that our technology contributes to a safer, driving experience as a result, we are engaged in various stages of conversations with several potential customers to replace the current laser solutions they are using.

一個非常重要的KPI 潛在客戶和現有客戶注意到我們的技術有助於提供更安全的駕駛體驗的優勢，因此，我們正在與幾個潛在客戶進行不同階段的對話，以取代他們目前使用的雷射解決方案。

In addition right now, given the uptick we're seeing in the short brands customer activity. We are also in both short and long range laterals for customers in a bundle. We remain confident in our ability to position Innoviz to capitalize on future opportunities for LiDARs resulting from the regulatory and market activity we are currently observing.

此外，鑑於我們目前看到短品牌客戶活動增加。我們也為客戶提供短程和長程支線捆綁服務。我們仍然相信我們有能力使 Innoviz 能夠利用我們目前觀察到的監管和市場活動帶來的 LiDAR 未來機會。

The first quarter represents another quarter in which we are exceeding our quarterly revenue guidance. We are delivering. We delivered $6.7 million in revenue above the guidance range of four to $5 million. As I mentioned earlier, and Linda will discuss shortly, we recorded another quarter in which we achieved lower cash burn, displaying our focus on the InnovizTwo platform.

第一季是我們超出季度收入指引的另一個季度。我們正在交付。我們實現了 670 萬美元的收入，高於 400 至 500 萬美元的指導範圍。正如我之前提到的，琳達很快就會討論，我們又一個季度實現了較低的現金消耗，這表明我們對 InnovizTwo 平台的關注。

Before I hand the call over to Eldar, I'd provide our guidance. I remind you that we continue to implement changes to our production process to support the latest innovations to configuration as well as our short range radar. We expect to complete these actions during Q3 2024, we expect third quarter revenue in the range of $3.5 million to $5 million compared to $3.5 million in Q3 2023.

在我將電話轉交給 Eldar 之前，我會提供我們的指導。我提醒您，我們將繼續對生產流程進行變革，以支援配置和短程雷達的最新創新。我們預計在 2024 年第三季完成這些行動，預計第三季營收將在 350 萬美元至 500 萬美元之間，而 2023 年第三季為 350 萬美元。

Last quarter, we reiterated our confidence in achieving our guidance for of two to three additional programs from both existing and new customers and $20 million to $70 million of new NRE bookings in 2024. With the positive customer activity we're seeing in our continued momentum through the first half of the year. We reiterate our 2024 operational targets.

上季度，我們重申，我們有信心在 2024 年實現現有客戶和新客戶的兩到三個額外計劃以及 2000 萬到 7000 萬美元的新 NRE 預訂的指導。憑藉著積極的客戶活動，我們在今年上半年看到了持續的成長動能。我們重申 2024 年營運目標。

And with that, I'll turn the call over to Elder to review our 2024 financial.

接下來，我會將電話轉給艾爾德，以審查我們 2024 年的財務狀況。

Thank you, Omar, and good morning, everyone. Starting with cash. We ended Q2 2024 with approximately $106.4 million in cash, cash equivalents, bank deposits, marketable securities and short-term restricted cash on the balance sheet, cash used in operation and capital expenditure came in at $21.6 million compared to $27.6 million in Q2 2023 and compared to $23 million last quarter.

謝謝你，奧馬爾，大家早安。從現金開始。截至2024 年第二季度，我們的資產負債表上約有1.064 億美元的現金、現金等價物、銀行存款、有價證券和短期限制性現金，營運和資本支出使用的現金為2,160 萬美元，而2023年第二季為2,760 萬美元，相較之下，上季為 2,300 萬美元。

This decrease in our burn, both on a quarter-over-quarter basis as well as on a year over year basis, demonstrates the effective implementation and efficient execution of our operational realignment, focusing the company around one platform.

無論是環比還是同比，我們的資金消耗均有所下降，這表明我們營運調整的有效實施和高效執行，使公司將重點放在一個平台上。

This two well meeting and over achieving on our revenue targets. We expect that this trend will continue and we will keep our cash use in operation and capital expenditure under tight control. Annually, we are expecting this year to be an improvement over last year and we are confident in our ability to maintain decreased levels of cash burn in the future.

這兩件事很好地滿足並超額實現了我們的收入目標。我們預計這一趨勢將持續下去，我們將嚴格控制營運中的現金使用和資本支出。每年，我們都預計今年將比去年有所改善，並且我們對未來保持較低現金消耗水準的能力充滿信心。

In terms of our gross margins, well, we have seen significant improvement. We expect this will continue to be lumpy as we mature the Innovis two platform unit volumes fluctuate and NRE revenues continued to vary from quarter to quarter.

就我們的毛利率而言，我們已經看到了顯著的改善。我們預計，隨著 Innovis 兩個平台的成熟，單位銷售量會出現波動，而且 NRE 收入每季都會持續變化，因此這種情況將繼續不穩定。

Now turning to the income statement. Revenues for Q2 were $6.7 million compared to $1.5 million in Q2 of 2023 and surpassing our guidance range of $4 million to $5 million. This represents another quarter, which we have over at over delivered on the top line, further reinforcing innovative track record of financial execution.

現在轉向損益表。第二季的收入為 670 萬美元，而 2023 年第二季的收入為 150 萬美元，超出了我們 400 萬至 500 萬美元的指導範圍。這代表著又一個季度，我們的營收超過了預期，進一步強化了財務執行的創新記錄。

Our operating expenses for Q2 2024 were $23.3 million, a decrease of 23% from $30.4 million in Q2 2023. This quarter's operating expenses included $3.8 million of share-based compensation compared to $5 million in Q2 2023.

我們 2024 年第二季的營運費用為 2,330 萬美元，比 2023 年第二季的 3,040 萬美元下降了 23%。本季的營運費用包括 380 萬美元的股權激勵，而 2023 年第二季為 500 萬美元。

Research and development expenses for Q2 2024 were $16.8 million, a decrease from $23.8 million in Q2 2023. The quarter's R&D expenses included $2.6 million attributable to share-based compensation compared to $3.4 million in Q2 2023.

2024 年第二季的研發費用為 1,680 萬美元，較 2023 年第二季的 2,380 萬美元有所下降。該季度的研發費用包括 260 萬美元的股權激勵費用，而 2023 年第二季的研發費用為 340 萬美元。

Overall, we are pleased by InnovizTwo continued positive financial trajectory, driven by the strength of our top line performance, coupled with our disciplined approach to expense management.

總體而言，我們對 InnovizTwo 持續積極的財務軌跡感到高興，這得益於我們強勁的營收業績以及嚴格的費用管理方法。

Looking ahead, we will maintain operational efficiency while taking the necessary steps to bolster our market position and meet customers' immediate and long-range needs.

展望未來，我們將維持營運效率，同時採取必要措施鞏固我們的市場地位並滿足客戶的即時和長期需求。

And with that, I'll turn the call back to Omar.

說完，我會把電話轉回給奧馬爾。

Thank you, Eldar. As we close, I'd like to say how honoured we were to hold the eco motion annual assembly at our headquarters on June 4, the turnover was incredible and we were pleased to welcome visitors from across the global industry, including leading OEMs to InnovizTwo headquarters.

謝謝你，埃爾達。在我們結束之際，我想說，我們非常榮幸能夠於6 月4 日在我們的總部舉辦Eco Motion 年度大會，成交額令人難以置信，我們很高興地歡迎來自全球行業的參觀者，包括領先的OEM 廠商來到InnovizTwo總部。

During the quarter, we were also released. We also released our first impact report, highlighting in-orbit commitment to social impact, sustainable operations and responsible business practices. I encourage you all to read the report on our Investor Relations website.

在這個季度，我們也被釋放了。我們也發布了第一份影響報告，強調了在軌對社會影響、永續營運和負責任的商業實踐的承諾。我鼓勵大家閱讀我們投資人關係網站上的報告。

To conclude, Q2 was a momentous quarter for InnovizOne in which we maintained strong performance on the top and bottom lines and federal advanced our pipeline with continued this momentum with our recent announcements of important new programs and partnerships the announcements we've made this morning is an important one for Innoviz, which we expect will lead to further opportunities as more OEMs adopt the platform.

總而言之，第二季度對於InnovizOne 來說是一個重要的季度，我們在營收和利潤方面保持了強勁的表現，聯邦透過我們最近宣布的重要新計劃和合作夥伴關係繼續推進我們的管道，我們今天早上發布的公告是這對 Innoviz 來說非常重要，我們預計，隨著更多 OEM 廠商採用該平台，這將帶來更多機會。

Our selection for this person is a vote of confidence in our products and technology and has the potential to accelerate the growth of our business. We are taking advantage of new opportunities that are arising in the market to provide existing and potential customers with both our short and long-range riders while expanding our pipeline to new customers.

我們選擇此人是對我們的產品和技術的信任票，並且有潛力加速我們的業務成長。我們正在利用市場上出現的新機會，為現有和潛在客戶提供我們的短程和遠端騎手，同時擴大我們的新客戶管道。

Meanwhile, we are working hard to convert various pipeline opportunities into design wins in the near future. We expect the second half to be meaningful in terms of our progress in these opportunities. The upcoming OEM decisions will be very decisive in determining the competitive landscape of the latter markets.

同時，我們正在努力在不久的將來將各種管道機會轉化為設計成果。我們預計下半年在這些機會方面取得的進展將是有意義的。即將到來的 OEM 決策對於確定後者市場的競爭格局將具有非常決定性的作用。

Our next few wins will continue to build the strong momentum we already have to converge additional opportunities. We are receiving great feedback from customers about our differentiated technology, and we are confident in our ability to solidify our ambition of becoming the leader, single leading Tier one LiDAR supplier at the market capture phase. We are in continues to play out.

我們接下來的幾場勝利將繼續增強我們已經擁有的強勁勢頭，以匯聚更多機會。我們收到了客戶對我們差異化技術的良好回饋，我們有信心有能力鞏固我們在市場佔領階段成為領先、單一領先的一級 LiDAR 供應商的雄心。我們在繼續玩下去。

And with that, operator, please open up the call for Q&A.

那麼，接線員，請撥打電話進行問答。

(Operator Instructions)

（操作員說明）

Mark Delaney, Goldman Sachs.

馬克·德萊尼，高盛。

Yes, Sam, thanks very much for taking the questions. With L4 platform award announced today. For both short and long-range LiDAR. Can you help us better understand if there are new firm series production awards that you're planning to add to your backs?

是的，薩姆，非常感謝您提出問題。L4 平台獎今天揭曉。適用於短距離和長距離 LiDAR。您能否幫助我們更了解您是否計劃添加新的公司係列製作獎項？

Mark, given some of the design wins, it sounds like your platform partner may already have. And if so, maybe you can help us better understand the magnitude of what this might mean for your backlog or what it might mean in terms of annual vehicle unit volumes as that program?

馬克，考慮到一些設計勝利，聽起來您的平台合作夥伴可能已經取得了勝利。如果是這樣，也許您可以幫助我們更好地了解這對您的積壓工作意味著什麼，或者對於該計劃的年度車輛銷售意味著什麼？

So I'll start by saying today was a pretty hectic for us, and this was actually just done to date and that we were very anxious whether we can bring it in before the quarter or not. You can imagine the last two days we're pretty crazy, it's very meaningful that all of the all of the programs that are awarded to the platform are going to use our central flavors, though our motor book there are several customers already opt into this.

因此，我首先要說的是，今天對我們來說非常忙碌，而且實際上到目前為止才剛剛完成，我們非常焦慮是否可以在本季度之前將其交付。你可以想像過去兩天我們非常瘋狂，這是非常有意義的，所有授予該平台的所有計劃都將使用我們的中心風格，儘管我們的汽車手冊中有幾個客戶已經選擇了這個。

There are several that we know our partner is in discussion with. It's a high multiple also of number of lives, short range and long range. And as we discussed over the presentation, the number of letters can vary between 6 to 12 and so you can get a grasp of what are we talking about in terms of the order book, that's actually a very meaningful and worth, I would say possibly a very I mean, in terms of the tried to quantify, I think I'm looking at it as something that is very similar to what we had with the VW announcement and super important, a huge boost in front of other customers that are looking to deploy short-range and long-range radars we are stepping from here forward. I would say I'm very confident I'm satisfied.

我們知道我們的合作夥伴正在與其中幾個進行討論。它也是生命數量、短距離和長距離的高倍數。正如我們在演示中討論的那樣，字母的數量可以在 6 到 12 之間變化，因此您可以了解我們在訂單簿方面所討論的內容，這實際上是非常有意義和價值的，我想說可能我的意思是，就試圖量化而言，我認為我將其視為與大眾汽車公告非常相似的東西，並且非常重要，這對其他正在尋找的客戶來說是一個巨大的推動為了部署短程和遠程雷達，我們正從這裡開始前進。我想說我非常有信心我很滿意。

That's great. I could say congratulations on getting that across the finish line and certainly looking forward to seeing how that progresses going forward.

那太棒了。我可以說祝賀你衝過終點線，當然期待看到未來的進展。

And a follow up on this award that you announced today in June, you had announced and expanded collaboration with OEM for using short and long-range LiDAR and webinars.

繼您今天於 6 月宣布獲得該獎項之後，您宣布並擴大了與 OEM 在使用短程和遠端 LiDAR 和網路研討會方面的合作。

And is that the new today with the platform partners? Is that it all connected with the OEM award you had in June and you talk about what the backlog is, are you doing with the new backlog from what you've got today or you may be counting what you perhaps already booked previously in the offshore space? Thanks.

這對平台合作夥伴來說是新的嗎？這一切都與您在 6 月獲得的 OEM 獎項有關嗎？空間？謝謝。

Sure. So the announcement made in June is about a partner, the customer who is going to use our short-range LiDAR. That's a partner that's a customer that is within the different customers that are using the platform, following that award, we were working with the partner on doing the same with the rest of their customers. Reaching to the commercial agreement that we got to today in order to allow the same two other customers.

當然。因此，六月發布的公告是關於合作夥伴，即將使用我們的短距離雷射雷達的客戶。該合作夥伴是使用該平台的不同客戶中的客戶，在獲得該獎項後，我們正在與該合作夥伴合作，對他們的其他客戶做同樣的事情。我們今天達成了商業協議，以便允許另外兩個客戶使用。

Got it. Maybe just one last quick clarification from me and then I'll turn it over sorry, going to

知道了。也許只是我最後一次快速澄清，然後我會把它翻過來，抱歉，要去

It's incremental -- this program adds in addition to what we are now.

它是漸進式的——這個計劃在我們現在的基礎上又增加了一些內容。

Got it. And just to confirm you guys are exclusive with us with this platform partner as they're going to market.

知道了。只是為了確認你們在這個平台合作夥伴即將上市時是我們的獨家合作夥伴。

We are the only provider to this platform will actually displacing two other income.

我們是該平台唯一的供應商，實際上會取代其他兩項收入。

Well noted. I'll pass it on. Thank you.

很好注意到。我會把它傳遞下去。謝謝。

Thank you.

謝謝。

Andres Sheppard, Cantor.

安德烈斯·謝潑德，康托爾。

Hey, Omar, Eldar our Good afternoon. Thanks for taking our questions and congratulations for another quarter. And I wanted to touch on maybe the Indoor Lab LLC program, wondering if you can maybe help us quantify some of the details of this agreement when might you expect deliveries to ramp up? And can you give us a sense of now some of the volumes you might be expecting from this? Thank you.

嘿，奧馬爾，埃爾達爾，我們下午好。感謝您提出我們的問題並祝賀又一個季度。我想談談室內實驗室有限責任公司計劃，想知道您是否可以幫助我們量化該協議的一些細節，您預計交付量何時會增加？您能為我們介紹一下您現在可能期待的一些卷嗎？謝謝。

So what I can share at this point that we are starting to deliver units to equip the airports, as I mentioned already by the end of this year. And our partner, the indoor Labs are working with new airports to expand and their offering in terms of a number of like ours and their elbow I would actually let that in the lab to elaborate if I can. I was not sure.

因此，我現在可以分享的是，正如我在今年年底之前提到的，我們正在開始交付裝備機場的設備。我們的合作夥伴，室內實驗室正在與新機場合作，以擴大他們的服務範圍，就像我們和他們的肘部一樣，如果可以的話，我實際上會讓實驗室詳細說明這一點。我不確定。

Okay. That's helpful. And then maybe some comments coming back to the short term and long term light or bundle announcements?

好的。這很有幫助。然後也許一些評論會回到短期和長期的輕型或捆綁公告？

And I realize you're not disclosing the name of the partner. But just wondering if maybe you can give us a little bit more color on the type of client or the specifics of the agreement needle. How should we thinking about this from a from a modeling perspective. Thank you.

我知道你沒有透露合作夥伴的名字。但只是想知道您是否可以給我們更多關於客戶類型或協議針細節的資訊。我們應該如何從建模的角度來思考這個問題。謝謝。

Yeah, it's a very meaningful part there. We referred to it as a major platform pillar, and they have already I would say they are working with several OEMs that were already sourced and selected and actually already operating with several OEMs using their Level 4 platform and the agreements would now replace the set of slider they were using with our set of short-range and long-range.

是的，這是一個非常有意義的部分。我們將其稱為主要平台支柱，他們已經與幾家原始設備製造商合作，這些原始設備製造商已經進行了採購和選擇，並且實際上已經使用其4 級平台與幾家原始設備製造商合作，這些協議現在將取代一套他們與我們的短程和遠端套件一起使用的滑塊。

And there is a I gave a range of how many LiDARs per vehicle. So you can imagine the multiples are very meaningful. And having that is we are referring to multiple already several customers that are within this platform and we are expecting more to come. We are and very much. I would say this is a very, very meaningful program platform.

我給了每輛車有多少個雷射雷達的範圍。所以你可以想像倍數是非常有意義的。也就是說，我們指的是這個平台內已有的多位客戶，我們期待更多的客戶出現。我們是，而且非常。我想說這是一個非常非常有意義的節目平台。

Okay, super helpful. Maybe if I could squeeze one more really quick.

好的，超級有幫助。也許如果我能很快再擠一個的話。

Sorry, Andreas, it is launching in 2026.

抱歉，Andreas，它將於 2026 年推出。

Okay. Starting production is 2026.

好的。2026 年開始生產。

Yeah.

是的。

And maybe one last one for Eldar. There was significant improvement in gross margins this quarter. And I'm wondering if you can maybe help break this down for us, how much of this was related two NREs and what type of margins might you expect for later this year, particularly with the BMW ramping up in the second half. Thank you.

也許也是艾爾達的最後一件事。本季毛利率顯著改善。我想知道您是否可以幫助我們分解這個問題，其中有多少與兩個 NRE 有關，以及您預計今年稍後的利潤率是多少，尤其是寶馬在下半年的成長。謝謝。

Sure, so most of our revenues today come from NREs. I said in the past had a positive contribution to our gross margin. I also mentioned during the call that since the construction of our top line, it is consistent of both scenery sample and SOP units we ship mainly to BMW. It's still it's still very lumpy. So we can see one water more as a higher sample rate, lower NRE down to one.

當然，我們今天的大部分收入都來自 NRE。我過去說過對我們的毛利率有正面的貢獻。我還在電話中提到，自從我們的頂線建設以來，我們主要向寶馬發貨的風景樣品和 SOP 裝置都是一致的。它仍然非常凹凸不平。因此，我們可以看到，採樣率越高，水份越多，NRE 越低至 1。

And then another raise in arrears, as you can see. So this will continue to be lumpy. But as long as the NRE factor is drawing up to SOP, I think you will that will have a positive contribution to the margin.

然後拖欠費用又增加了，正如你所看到的。所以這將繼續是不穩定的。但只要 NRE 因素接近 SOP，我認為就會對利潤率產生正面貢獻。

Wonderful. Okay, thank you so much. I'll pass it on, congrats on the quarter

精彩的。好的，非常感謝。我會轉發的，恭喜這個季度

Thank you.

謝謝。

(Operator Instructions)

（操作員說明）

Kevin Cassidy, Rosenblatt Securities.

凱文·卡西迪，羅森布拉特證券公司。

Thanks for letting me ask a question and congratulations on the progress and some of the new wins. You know, for the robo-taxi and even for your Level 4 that you announced using more light, Ari, I guess it seems robo-taxis have been using it rotating LiDAR or 360 degree LiDAR. Is the concept going forward will be just to use more of your types of radar LiDAR and rather than the rotating?

感謝您讓我提出問題，並祝賀我們的進展和一些新的成果。你知道，對於機器人出租車，甚至對於你宣布使用更多光的 4 級機器人出租車，Ari，我想機器人出租車似乎一直在使用旋轉光達或 360 度光達。未來的概念只是使用更多類型的雷達 LiDAR，而不是旋轉雷達？

And the answer is yes. But maybe I want to add, we're not referring only to robotics. These applications are also referring to trucks, shuttles buses, and there are many kinds of Level 4 applications that can benefit from such a platform and maybe going back to the question.

答案是肯定的。但也許我想補充一點，我們指的不只是機器人技術。這些應用程式也指卡車、穿梭巴士，並且有許多 4 級應用程式可以從這樣的平台中受益，也許回到這個問題。

So the answer is yes, we are in discussion with several OEMs that are looking at the whole platform there, but are looking to industrialize the platform towards their launch everyone is aware that once you are you are you commercialized your product, you need to meet automotive grade, you need to meet the requirements.

所以答案是肯定的，我們正在與幾家原始設備製造商進行討論，他們正在研究整個平台，但希望將平台工業化以實現其發布，每個人都知道，一旦您將產品商業化，您需要滿足汽車級，需滿足要求。

It's not enough for any longer torque base of solution that was possibly used for R&D purposes. They are looking for a product that is already mature meeting grade as industrialization plan. And that's why many of them are now reaching out to us and to see how they can benefit from our solution as we see here today. But also, as we talked about the trucking opportunity that we are working on the similar situation there.

對於可能用於研發目的的任何更長扭矩基礎的解決方案來說，這還不夠。他們正在尋找一種已經成熟、符合產業化計畫的產品。這就是為什麼他們中的許多人現在與我們聯繫，看看他們如何從我們今天在這裡看到的解決方案中受益。而且，當我們談論卡車運輸機會時，我們正在處理類似的情況。

Okay, great. Thanks. And the Indoor Labs win seems pretty significant step into other markets that are in your pipeline of opportunities. Other smart city type of applications like this is what I would call it or even industrial.

好的，太好了。謝謝。室內實驗室的勝利似乎是您進入其他市場的重要一步。像這樣的其他智慧城市類型的應用程式我稱之為工業應用程式。

So our pipeline that we are referring to in our presentation for the quarter-over-quarter, we are on at a failing to either Level three or Level 4. But of course, there are a handful of applications. There is a, call it an endless shelf of opportunity that can benefit from that 3D sensor.

因此，我們在季度環比演示中提到的管道，我們處於第三級或第四級的失敗。但當然，有一些應用程式。有一個可以從 3D 感測器中受益的無限商機。

InnovizOne is 99.9% focused on automotive. This is where we feel we stand out and the major deals in terms of volume and NREs are coming from. There are adventurous advantage today there.

InnovizOne 99.9% 專注於汽車領域。這是我們覺得自己脫穎而出的地方，也是數量和 NRE 方面的主要交易的來源。今天那裡有冒險的優勢。

Of course, we always enjoy benefiting from good teams so that they don't have that can penetrate different types of market markets.

當然，我們總是喜歡從優秀的團隊中受益，這樣他們就沒有能力滲透不同類型的市場。

I'm very positive about the Indoor Lab team, which I met just a couple of weeks ago. I was quite amazed the by their product and what they can offer two different customers. And I'm pretty sure that collaboration can also grow to maybe additional platforms and not just airports.

我對幾週前才認識的室內實驗室團隊非常有信心。我對他們的產品以及他們能為兩個不同的客戶提供的東西感到非常驚訝。我非常確定合作還可以擴展到其他平台，而不僅僅是機場。

So of course, we do look for ways where we can scale through the work of good things such as the indoor lab. But in terms of the innovation focus, we are developing LiDAR for mass production for automotive grade. We bought perception software.

因此，當然，我們確實在尋找可以透過室內實驗室等良好工作進行擴展的方法。但就創新重點而言，我們正在開發用於汽車級量產的雷射雷達。我們購買了感知軟體。

Okay. And I guess since now the emphasis, but just wanted to ask if the perception software would go along with that and or lapse opportunity?

好的。我想從現在起重點是，但只是想問一下感知軟體是否會配合這個和/或失去機會？

The answer is no, meaning that Indo Lab provides their ultimate perception software, which obviously provide analytics on elements that are not related to the, I would say, on-road highway driving, which we provide to automotive there, our customers.

答案是否定的，這意味著 Indo Lab 提供了他們的終極感知軟體，該軟體顯然提供了與公路高速公路駕駛無關的元素的分析，我想說的是，我們向那裡的汽車客戶提供這些要素。

This is where we benefit from working with different companies, different IT companies that are using the 3D data in order to extract the KPI. They are looking for obviously tailored for the application. They are trying to do both.

這就是我們與不同公司、不同 IT 公司合作的好處，他們使用 3D 資料來提取 KPI。他們正在尋找顯然是為應用程式量身定制的。他們正在努力做到這兩點。

Okay. Thank you.

好的。謝謝。

You're welcome.

不客氣。

Kevin Galligan, WestPark Capital.

凱文‧加利根，西園資本。

Yeah. Hey, Omar, hey, Eldar. Thanks for taking my questions. And let me echo my congrats so that started there. There are estimates out there that short range, but our prices are estimated to be about 250 or below, not automotive LiDAR sensors could be in the thousands.

是的。嘿，奧馬爾，嘿，埃爾達。感謝您回答我的問題。讓我表達我的祝賀，一切就從這裡開始。那裡有估計距離短，但我們的價格估計在250左右或以下，而不是汽車LiDAR感測器可能在數千。

Omar, I know you noted in your prepared remarks for the automotive market, you're selling the long range and short range in a bundle potentially. Can you just kind of expand on your pricing strategy as you look at these new markets or are you planning on selling into this to for nonautomotive much higher than you would for long range in automotive?

奧馬爾，我知道您在為汽車市場準備的演講中指出，您可能會捆綁銷售長程和短程。當您著眼於這些新市場時，您是否可以擴展您的定價策略，或者您是否計劃將非汽車市場的銷售價格遠高於長期汽車市場的銷售價格？

And how are you kind of thinking about the pricing the bundle or just kind of pricing for the short range LiDAR?

您如何考慮捆綁包的定價或短距離光達的定價？

Sure, so I would say I have several things to say institutional financing is best of innovation to the same platform and it benefits from all of the cost opportunities, but also that our ability to offer more LiDAR now is also helping us to scale.

當然，所以我想說，我有幾件事要說，機構融資是同一平台的最佳創新，它受益於所有成本機會，而且我們現在提供更多雷射雷達的能力也有助於我們擴大規模。

Our ability to set the price is determined by the competitive landscape and the value we generate to our customers. I would say that right now, we sense a huge pool in the short-range space. If we find very attractive markets available to us that in these times, then we could we will continue to, I would say, trying to bring more deals to the table.

我們定價的能力取決於競爭格局和我們為客戶創造的價值。我想說的是，現在我們在短距離空間中感受到了一個巨大的水池。如果我們發現在這個時期對我們來說非常有吸引力的市場，那麼我們可以繼續，我想說，嘗試帶來更多交易。

Obviously, once for customers outside automotive market. The prices are also determined by the value that is generated in the application value that we can provide.

顯然，曾經針對汽車市場以外的客戶。價格也取決於我們可以提供的應用價值中產生的價值。

Just to emphasize this point, the partnership is for Level 4, mainly for commercial applications like trucks, shuttles, robotaxis, the price sensitivity there is different.

強調一點，合作是針對Level 4的，主要針對卡車、接駁車、機器人計程車等商業應用，那裡的價格敏感度是不同的。

Yeah, I would say for many, many years, companies also innovation, we've been very focused on the Level three where the volumes are very high because of the number of vehicles on the road. And I would say the challenge there is related to very long range because of the highway and high resolution and very low cost.

是的，我想說很多很多年，公司也在創新，我們一直非常關註三級，由於道路上的車輛數量，數量非常高。我想說，那裡的挑戰與非常長的距離有關，因為高速公路、高解析度和非常低的成本。

And you think you need to take everything I would say to the to the edge in a week and the compete competition there was around that. Level 4 was somehow behind. And now there is an uptick we in different programs that are ready to commercialize but are looking for an automotive-grade solution.

你認為你需要在一周內將我所說的一切發揮到極致，而圍繞這一點的競爭也隨之而來。4 級不知何故落後了。現在，我們準備商業化的不同項目有所增加，但正在尋找汽車級解決方案。

There are sensitivities for pricing is different than the passenger vehicle because of the value they generate in terms of replacing the professional driver. The number of LiDARs is different the so for us, no, it's like amazing moving from a car that has one either to a car that might have 12 flight hours.

定價與乘用車不同，因為它們在取代專業司機方面產生的價值，因此存在敏感度。LiDAR 的數量是不同的，所以對我們來說，不，從一輛配備任何一個的汽車到一輛可能有 12 飛行小時的汽車是令人驚奇的。

It's just mind-blowing how the multiples and the way that the numbers are growing very fast. This is this is really our sales funnel, but it's an it's a really refreshing and we will continue to look on these applications is Level 4. We feel that we have a very strong foot now in this area, which is making effect per se growth.

倍數和數字成長速度之快令人震驚。這確實是我們的銷售漏斗，但它確實令人耳目一新，我們將繼續關注這些級別 4 的應用程式。我們覺得我們現在在這領域擁有非常強大的基礎，這使得效果本身正在成長。

Got it. Okay. That makes sense. Thank you for that color. And then just as a follow-up, so I know you need to make a few tweaks to the end of this to go from long range and short range. Are there any changes you need to make to the Innoviz do for the Indoor Lab agreement or kind of non-automotive market? Or can you kind of use it?

知道了。好的。這是有道理的。謝謝你的那個顏色。然後作為後續行動，所以我知道你需要在最後進行一些調整，從遠距離到近距離。對於室內實驗室協議或非汽車市場，您是否需要對 Innoviz 進行任何更改？或者你可以使用它嗎？

No, we use it as is. We did not make, as I said, 99.9% focused on automotive. I would say applications that don't know what the world will benefit from the capacity of our production line, and we'll use the availability of the systems that we have.

不，我們按原樣使用它。正如我所說，我們並沒有將 99.9% 的精力集中在汽車領域。我想說的是，那些不知道世界將從我們的生產線產能中受益的應用程序，我們將利用我們現有系統的可用性。

There are many, I would say, even within the long range and short range. There are also different variants that are defined by sulphur funding, which allows us to be very flexible. And so this gives us also a difference of, let's say, propositions that we can provide to different.

我想說，即使在長距離和短距離內，也有很多。硫磺基金也定義了不同的變體，這使我們能夠非常靈活。因此，這也為我們帶來了差異，例如說我們可以向不同的人提供的主張。

Well, I think it's practically a precondition of when we are working outside the automotive market, but we don't need to have any extra effort or different flavors of that product because the focus is somewhere else. We do not want to have to support it and to have extra expenses around that.

嗯，我認為這實際上是我們在汽車市場之外工作的先決條件，但我們不需要任何額外的努力或該產品的不同口味，因為重點在其他地方。我們不想為此提供支援並產生額外費用。

Got it, that makes sense. Perfect, I appreciate the color, guys. Thank you.

明白了，這很有道理。完美，我很欣賞這個顏色，夥計們。謝謝。

Welcome.

歡迎。

Thank you. You have no further questions. You may proceed.

謝謝。您沒有其他問題了。您可以繼續。

Good, thanks again to everyone for joining us this morning. We look forward to updating you next quarter on the continued progress we are making here and thank you, everyone. I appreciate you joining us.

好的，再次感謝大家今天早上加入我們。我們期待在下個季度向您通報我們所取得的持續進展，謝謝大家。我很感謝你加入我們。

You can see it's a very exciting time for us at Innoviz, we just announced I don't think my I told my team to go on the earnings call to hear the news today that nobody heard this is I am going to hug the team now. So thank you very much. Bye.

你可以看到，這對我們 Innoviz 來說是一個非常激動人心的時刻，我們剛剛宣布，我不認為我告訴我的團隊參加財報電話會議，今天沒有人聽到這個消息，我現在要擁抱團隊。非常感謝。再見。