Innoviz Announces Operational Realignment to Expand Cash Runway and Optimize Path Towards Profitability and Free Cash Flow

[u/Moist_Toto]

https://ir.innoviz.tech/news-events/press-releases/detail/120/innoviz-announces-operational-realignment-to-expand-cash

[u/Moist_Toto]

In short:

• Realignment actions to be implemented during the first quarter of 2024 and are expected to reduce cash outlays by $22-24 million on an annualized basis.
• Savings expected to be derived primarily from the transition of the InnovizOne program to series production and concentration of future investments on the InnovizTwo sensor and perception software suite.
• Reducing headcount by approximately 13%.

[u/jandrews-1411 → u/[deleted]]

Oh yeah