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Why Shares of Innoviz Technologies Are Racing Higher Today

·2 min read

As of 10:18 a.m. ET, shares of Innoviz are up 7.9%, having fallen slightly from their earlier climb of 10.9%. Reporting revenue of $1.8 million, Innoviz grew the top line 80% over the $1 million in sales that it recorded during the same period last year. During the earnings presentation, management reaffirmed order book (the projected future sales of its hardware and software) guidance, projecting that it will grow 30% by the end of 2022.