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Innoviz Bolsters Financial Position with Approx. $80M through Multi-Year NRE Payment Plan with Key Customers

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Expects to receive NREs from existing programs in 2025-2027, with cash payment of more than $40 million expected in 2025
Ongoing sales of LiDAR products and new programs expected to generate additional revenues throughout 2025

TEL AVIV, Israel, Dec. 23, 2024 /PRNewswire/ — Innoviz Technologies Ltd. (NASDAQ: INVZ) (the “Company” or “Innoviz“), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, today announced a multi-year NRE (Non-Recurring Engineering services) payment plan of approx. $80 million with key existing customers which is expected to bolster the Company’s financial position. NREs are expected to be paid between 2025 and 2027, of which over $40 million are expected to be paid in 2025 with further amounts expected in 2026 and 2027. These payments will be incremental to revenues generated from ongoing sales of LiDAR products based on existing and new orders coming from new programs.

“We are excited to further bolster our position as a key partner for OEMs in the autonomous vehicle industry,” said Omer Keilaf, CEO and Founder of Innoviz. “NREs are essential to strategically funding our operations and reaching the start of production for several customers in 2026, and with this plan with our key customers we are poised to start 2025 from a position of financial strength. We believe it is clear that our customers trust our ability to support the next generation of autonomous vehicles and meet their demands through Innoviz’s superior technology and ability to bring LiDARs to production. The expected NRE payments announced today, taken together with customer programs entering production, strengthen the financial foundation of the Company and position Innoviz to deliver significant value in the years to come.”

Innoviz will provide information regarding its full year 2024 financial performance and 2025 financial guidance on its fourth quarter 2024 earnings call.

About Innoviz

Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world’s leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world’s roads. Innoviz’s LiDAR and perception software “see” better than a human driver and reduce the possibility of error, meeting the automotive industry’s strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz.tech.

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Media Contact
Media@innoviz-tech.com

Investor Contact
Investors@innoviz-tech.com

Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz’s products, the markets in which Innoviz operates, expected NRE payments and Innoviz’s projected future results, including revenue and NREs. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. “NRE (Non-recurring Engineering)” is booked services that may be ordered from Innoviz usually as part of a program design win and includes, among other things, application engineering, product adaptation services, testing and validation services, standards and qualification work and change requests (usually during the lifetime of a program). NREs may be paid based on milestones over the development phase of the project which may take a few years.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to identify and realize additional opportunities, potential changes and developments in the highly competitive LiDAR technology and related industries, actual orders or actual payments, and our expectations regarding the impact of the evolving conflict in Israel to our ongoing operations. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz’s annual report on Form 20-F filed with the SEC on March 12, 2024 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There can be no assurances that the Company will enter into definitive agreements, orders or receive payments with respect to the NRE payment plan referenced in this announcement. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.

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MyComputerCareer Looks Back on Rewarding 2024 Fueled by Student and Grad Success; Shifting Mindset to Alternative Higher Ed Learning Pathways

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Skills training is having a moment

APEX, N.C., Dec. 23, 2024 /PRNewswire-PRWeb/ — There’s an important conversation happening in higher education that is shifting the way students of all ages approach how, and where, they choose to gain knowledge. Do I need a “traditional” university degree to find a career or are there viable alternatives to gain skills and knowledge? While this question and conversation will, and should, continue throughout 2025, skills-training is undoubtedly having a moment.

“The first, and most important, metric that defines success for MyComputerCareer is positive student outcomes and 2024 provided numerous opportunities to celebrate so many of those accomplishments,” said Tony Galati, Founder and CEO of MyComputerCareer.

As more employers move towards dropping degree requirements, more than 70 million skills-warriors without degrees are paying attention. MyComputerCareer, which has specialized in IT-skills training since 2007, saw the impact first-hand as eager students excelled in the classroom and grads made an impact in IT.

In 2024, MyCC celebrated 3892 graduates, including a cohort of nearly 1600 in August that was the school’s largest since November 2022. By comparison there were 2998 graduates in 2023. The school’s live-led, DoD approved Cyber Warrior Program geared to transitioning service members, contributed to this uptick as the program grew more than 200% in 2024.

“My instructor served in the military and had 20+ years of cybersecurity experience, so he wasn’t just teaching me how to pass the exam, he was teaching me how to pass the exam then apply those skills to the real world,” said Air Force veteran and Cyber Warrior Program alumna Jayanna Berry.

How did students like Jaynna and others perform in the classroom? Collectively they earned nearly 6000 IT certifications which help provide the knowledge and skills needed to positively impact potential employers. Speaking of employers, the school’s Career Services team – which works with students and alumni for life – submitted more than 14,000 resumes on their behalf throughout the year.

Beyond student and graduate success, MyCC had a strong year in 2024, reinforcing the college’s position as a leader in the skills-training space. Some milestones and accomplishments included:

Named Top-10 Military Friendly schoolEarned EC-Council’s Circle of Excellence awardHR Team named “Team of the Year” by Merit AwardsFounder Tony Galati tagged as “innovative leader” in education (Forbes)Featured in a 30-minute Lifetime special titled “Operation Career” highlighting the school’s dedication to active and veteran service members.Named Military Friendly employer

“The first, and most important, metric that defines success for MyComputerCareer is positive student outcomes and 2024 provided numerous opportunities to celebrate so many of those accomplishments,” said Tony Galati, Founder and CEO of MyComputerCareer. “Every earned milestone beyond that bucket is very welcomed as it highlights the dedication of our employees to deliver a positive and rewarding experience to so many folks in an effort to change their lives.”

Since opening its doors in 2007, MyComputerCareer has equipped more than 27,000 graduates with the skills and resources needed for success, resulting in alumni working for some of the top tech companies across the country. The school welcomes students with no former experience or training in IT, and graduates come from a broad range of backgrounds – from hospitality to retail to stay-at-home parents.

About MyComputerCareer

MyComputerCareer is an accredited* technical school, with classes online and on-campus, that provides hands-on Information Technology training, certifications and job placement in as little as seven months. Founded in 2007, the school boasts nine campuses in Texas, North Carolina, Indiana, Ohio, and Nellis Air Force Base, with its headquarters in Holly Springs, North Carolina. For more information, call (866) 606-6922 or visit www.mycomputercareer.edu

* Accredited by the Accrediting Council for Continuing Education & Training (ACCET)

Media Contact

Aaron Martin, MyComputerCareer, 1 773.505.4325, aaron.martin@mycomputercareer.edu, www.mycomputercareer.edu

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Crowley Awards Maine Maritime Academy Cadets with Thomas B. Crowley Sr. Memorial Scholarship

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Cadets Anna LaDue and Odegaard Fields have been awarded the memorial scholarships for exemplifying the company’s values and intent on pursuing a maritime career.

JACKSONVILLE, Fla., Dec. 23, 2024 /PRNewswire-PRWeb/ — Cadets Anna LaDue and Odegaard Fields from Maine Maritime Academy have been awarded the Thomas B. Crowley Sr. Memorial Scholarship. These students were selected based on their performance during the cadet training periods aboard Crowley-operated or -managed ships and their intent to pursue maritime careers.

LaDue, a junior from Canterbury, New Hampshire, is studying marine transportation operations, with a minor in sail training. She has served as the Assistant Officer in Charge for the academy’s Delta Company during the 2024 training year and has achieved the Dean’s List for three consecutive semesters. Outside of her maritime studies, she is involved in the climbing club, singing ensemble, women on the water, environmental action club and her school’s student athletic advisory committee. After training aboard Crowley-managed tanker American Pride in summer 2024, LaDue seeks to sail aboard on tankers upon graduation.

Fields, a junior from New Marlborough, Massachusetts, is pursuing a degree in marine transportation operations. In addition to his studies, Fields is a small vessel handling instructor and terrestrial navigation teaching assistant on the George C. Previll Memorial Inter-Academy Monomoy challenge team. Fields sailed as a cadet with Crowley on the American Pride. Upon graduation, Fields wants to continue sailing as a deck officer on a tanker or offshore wind supply vessel.

The scholarship, which is awarded annually by Crowley, was established in 1994 by the company’s CEO and chairman Thomas B. Crowley Jr. to commemorate and honor Thomas B. Crowley Sr. and his instrumental leadership and accomplishments for the company and maritime industry. Since 1984, Crowley has provided over $3 million dollars in scholarships to more than 1,000 students studying at maritime academies and other select schools in the United States mainland, Puerto Rico and Central America.

About Crowley
Crowley is a privately held, U.S.-owned and -operated maritime, energy and logistics solutions company serving commercial and government sectors with $3.5 billion in annual revenue, over 170 vessels mostly in the Jones Act fleet and approximately 7,000 employees around the world – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3.2 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with more than 130 years of innovation and a commitment to sustainability, the company serves customers in 36 nations and island territories. Additional information about Crowley, its business units and subsidiaries can be found at http://www.crowley.com. 

Media Contact

David DeCamp, Crowley, 904-727-4263, David.DeCamp@crowley.com, www.crowley.com 

Torey Vogel, Crowley, 904-726-4536, Torey.Vogel@crowley.com, www.crowley.com 

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TheLotter: Celebrate Christmas with a Stellar Mega Millions Jackpot!

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AUSTIN, TX, Dec. 23, 2024 /PRNewswire/ – The excitement skyrockets as the Mega Millions jackpot climbs to an estimated $944 million / $429.4 cash option, just in time for Christmas! To date, the popular multijurisdictional lottery has awarded 6 jackpot prizes over $1 billion, and this could grow to become the 7th.

At TheLotter, customers can order tickets for the upcoming Mega Millions draw, featuring such an extraordinary jackpot amount on Christmas Eve, 12/24/2024. TheLotter is the leading lottery ticket courier service, enabling customers across the state to join their favorite lottery draw games at their convenience without leaving home, and win prizes 100% commission-free. Just this week, T.B. from a small community northwest of Houston won $26,000 in the December 20, 2024 Daily 4 Morning draw after securing their entry through TheLotter. The Daily 4 Morning draw is one of the many state lotteries offered on the site. Some take place daily – even multiple times a day – while others are held twice a week.

“As we approach the end of 2024, excitement is at an all-time high with this Mega Millions colossal jackpot grabbing headlines. Adding to the buzz, the game is set to undergo a significant transformation in the coming year, promising even more excitement and chances to win big. With this perfect blend of monumental jackpots and innovative updates, Mega Millions is proving once again why it remains a favorite among lottery customers nationwide.” says Yael Hertz, CEO of TheLotter Group.

Once a customer’s order is confirmed at TheLotter, our agents ensure participation by purchasing tickets from licensed local retailers using the lucky numbers chosen by customers – either manually or via the Quick Pick option. Then, scanned copies, which serve as proof of ownership of these tickets, can be viewed in the customers’ online accounts before the draws take place.

TheLotter’s expanding list of winners who won huge prizes on the site includes Robert Talerico from San Antonio, who hit the $525,000 Texas Two Step jackpot in February 2023, as well as a Dallas customer who won $1 million in a Powerball draw in November 2022.

Lottery games enthusiasts in Texas eager for a chance at massive jackpots can join the excitement seamlessly by setting up an easy and secure account at TheLotter.

For more information about how Texas customers can take their shot at Mega Millions, Powerball and other state lottery draws’ prizes, visit the company’s website at tx.thelotter.com.

About TheLotter
TheLotter offers a lottery courier service enabling residents of Texas to order official Texas lottery tickets from their device, from the comfort of home or on the go.

Follow TheLotter US on FacebookTwitter and Instagram.  

Gambling can be harmful if not controlled. Must be 18 or older. Please play responsibly. 

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