JPMorgan Downgrades Self-Driving Technology Supplier as Volkswagen Faces Delays

What happened: JPMorgan downgraded Innoviz Technologies (NASDAQ:INVZ) to Neutral from Overweight, citing delays in major automotive programs including Volkswagen's ID. Buzz that push back production-related revenue. Key numbers: Q3 revenue $12.1 million versus $15.3 million a year earlier, below the $21.33 million estimate. Why it matters: JPMorgan sees limited visibility into when automotive customers will deploy Innoviz systems at scale, and uncertainty around Mobileye Drive timelines has weakened that growth outlook. The company must preserve cash while awaiting production ramps.

JPMorgan downgraded Innoviz Technologies (NASDAQ:INVZ) to Neutral from Overweight, citing delays in major automotive programs including Volkswagen's ID. Buzz that push back production-related revenue.

JPMorgan sees limited visibility into when automotive customers will deploy Innoviz systems at scale, and uncertainty around Mobileye Drive timelines has weakened that growth outlook. The company must preserve cash while awaiting production ramps.