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Can AEVA's 4D Push Outpace INVZ's Automotive LiDAR Wins?
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Key Takeaways
Aeva is expanding 4D LiDAR beyond autos, landing projects at Tampa Airport and Sandia Labs.
Innoviz's deep carmaker ties drive $17.4M revenues, backed by Volkswagen and Mobileye programs.
AEVA trades at 45X sales with heavy cash burn, while INVZ shows a stronger revenue base and cost control.
Aeva Technologies (AEVA - Free Report) and Innoviz Technologies (INVZ - Free Report) are the two key players in the world of LiDAR. Think of LiDAR as the "eyes" for self-driving cars, smart cities and factory robots. Both companies are trying to grab a piece of a multi-billion-dollar market, using advanced sensor technology for both cars and other industries. As the self-driving sector heats up and investors look for real-world business success, comparing AEVA and INVZ helps us see where the stronger opportunities truly lie.
While they are aiming for similar markets, their strategies are different. AEVA stands out with its special "4D LiDAR" technology, which can not only "see" objects but also instantly tell how fast they are moving. The company is quickly expanding into profitable areas like infrastructure and industrial uses.
Innoviz, on the other hand, focuses on solid, "automotive-grade" LiDAR and has strong relationships with big car manufacturers. It is also earning money from upfront engineering work while waiting for mass production to begin. Both stocks have seen big jumps over the past 12 months, but their financial health and stock prices tell different stories. It's a good time to compare them side-by-side to see which might be a better investment.
The Case for AEVA Stock
AEVA's strategy of looking beyond just self-driving cars is starting to pay off. The company has landed big projects, like equipping Tampa International Airport with its 4D LiDAR, making it one of the largest airport LiDAR projects in the U.S. Plus, partnerships with groups like Sandia National Laboratories for nuclear security show that AEVA's technology works well outside the crowded world of autonomous vehicles. These wins imply potential for steady income and less reliance on those long, drawn-out car industry contracts. This sets AEVA apart from Innoviz, which still relies heavily on the auto sector for its income.
AEVA is also showing big ambition by planning to increase its manufacturing capacity to 200,000 LiDAR units per year by 2026. Their role as the exclusive 4D LiDAR supplier for Daimler Truck's Torc Robotics division gives them a strong foothold in self-driving trucks. However, unlike Innoviz, which already has a high-volume pipeline with Volkswagen and Mobileye, AEVA's major car-related income is still mostly in the future. It depends on whether it can successfully ramp up production over several years and deliver at a large scale.
The biggest challenge for AEVA right now is its financial health. In other words, the market is betting on huge growth that hasn't happened yet. AEVA’s revenues for the first three months of 2025 were $3.4 million, tiny compared to Innoviz's $17.4 million. Also, AEVA is burning through a lot of cash, over $30 million every quarter. While the company has backing from big investors and strategic funding, AEVA needs to turn its partnerships into steady income to justify its high stock price.
The Case for INVZ Stock
Innoviz's strong partnerships with major car companies like Volkswagen, Mobileye, and BMW are central to why investors might like this stock. For instance, Volkswagen's ID. Buzz robotaxi program will use nine InnovizTwo LiDARs per vehicle, with shipments starting in 2025. This shows real potential for high sales volume soon. These deep relationships with car manufacturers provide clear income certainty into 2026-2027 and put Innoviz ahead of AEVA when it comes to getting their automotive products to market. While AEVA's wins in trucking and infrastructure are promising, it doesn’t have the same immediate, high-volume production pipeline.
Innoviz also has a financial cushion from its $95 million backlog of upfront engineering work (called NRE). This provides a steady stream of income until mass production really gets going. In the first three months of 2025, Innoviz's revenues soared 2.5 times compared to last year, hitting $17.4 million. This was largely driven by profitable engineering services, which also pushed their gross profit margins to a healthy 40%. While AEVA is pursuing high-profile pilot projects, Innoviz is already making money from engineering work at a larger scale. Plus, Innoviz has cut its operating expenses by 34% compared to last year and burns less cash, strengthening its financial position compared to AEVA, even though both face the risk of issuing more shares.
Like AEVA, Innoviz is also expanding into non-automotive markets such as smart cities and safety systems, which broadens its potential customer base. However, INVZ’s heavy reliance on engineering income raises questions about how sustainable that revenue is until actual product volumes from car programs truly pick up in 2026. Scaling up manufacturing with their partner Fabrinet and transitioning to full production carries risks. Still, compared to AEVA, Innoviz has a more established revenue base and tighter control over its spending, offering more predictable short-term results and less speculative upside.
Price Performance
Over the past year, Aeva Technologies’ stock has skyrocketed more than 500%, showing a lot of excitement around its new deals and expansion into different markets. Innoviz is up 138%, a smaller but still significant gain that's supported by actual revenue growth and success with car manufacturers. This difference suggests AEVA's rally is more driven by investor sentiment and hopes for the future, while Innoviz's stock performance aligns more closely with its current business results.
Image Source: Zacks Investment Research
Valuation Comparison
Aeva Technologies’ stock currently trades at a very high 45 times its expected future sales, making it look very expensive. Innoviz, in contrast, is valued at just over 3 times its expected future sales. This huge difference in valuation shows that the market is much more skeptical about AEVA's ability to quickly turn its partnerships into massive revenues compared to Innoviz's more modest and arguably more realistic expectations.
Image Source: Zacks Investment Research
Revenue Outlook
As per the Zacks Consensus Estimate, AEVA's revenues for 2025 will be just over $17 million. While this shows projected 90% growth, it's starting from a very small base.
Image Source: Zacks Investment Research
Innoviz, on the other hand, is expected to bring in $60 million in revenues in 2025, which is more than triple Aeva Technologies’ forecast. Innoviz is also projected to see stronger growth into 2026 as its car programs ramp up.
Image Source: Zacks Investment Research
Conclusion
Both AEVA and Innoviz are chasing a massive opportunity in LiDAR technology. Aeva's expansion into infrastructure and its high-profile partnerships show exciting potential. However, its very high stock price and significant cash burn increase the risk if the company don't execute flawlessly. Innoviz, with its stronger ties to major car manufacturers, a more substantial current revenue base, and disciplined cost control, offers more grounded and predictable short-term fundamentals.
Given these factors, Innoviz appears to be the better stock right now. Its combination of clear visibility into automotive sales, smart financial management, and a lower stock price makes it the more balanced choice in a sector that's still figuring out which companies will truly come out on top. INVZ currently carries a Zacks Rank #3 (Hold), while AEVA has a Zacks Rank #4 (Sell).
Image: Bigstock
Can AEVA's 4D Push Outpace INVZ's Automotive LiDAR Wins?
Key Takeaways
Aeva Technologies (AEVA - Free Report) and Innoviz Technologies (INVZ - Free Report) are the two key players in the world of LiDAR. Think of LiDAR as the "eyes" for self-driving cars, smart cities and factory robots. Both companies are trying to grab a piece of a multi-billion-dollar market, using advanced sensor technology for both cars and other industries. As the self-driving sector heats up and investors look for real-world business success, comparing AEVA and INVZ helps us see where the stronger opportunities truly lie.
While they are aiming for similar markets, their strategies are different. AEVA stands out with its special "4D LiDAR" technology, which can not only "see" objects but also instantly tell how fast they are moving. The company is quickly expanding into profitable areas like infrastructure and industrial uses.
Innoviz, on the other hand, focuses on solid, "automotive-grade" LiDAR and has strong relationships with big car manufacturers. It is also earning money from upfront engineering work while waiting for mass production to begin. Both stocks have seen big jumps over the past 12 months, but their financial health and stock prices tell different stories. It's a good time to compare them side-by-side to see which might be a better investment.
The Case for AEVA Stock
AEVA's strategy of looking beyond just self-driving cars is starting to pay off. The company has landed big projects, like equipping Tampa International Airport with its 4D LiDAR, making it one of the largest airport LiDAR projects in the U.S. Plus, partnerships with groups like Sandia National Laboratories for nuclear security show that AEVA's technology works well outside the crowded world of autonomous vehicles. These wins imply potential for steady income and less reliance on those long, drawn-out car industry contracts. This sets AEVA apart from Innoviz, which still relies heavily on the auto sector for its income.
AEVA is also showing big ambition by planning to increase its manufacturing capacity to 200,000 LiDAR units per year by 2026. Their role as the exclusive 4D LiDAR supplier for Daimler Truck's Torc Robotics division gives them a strong foothold in self-driving trucks. However, unlike Innoviz, which already has a high-volume pipeline with Volkswagen and Mobileye, AEVA's major car-related income is still mostly in the future. It depends on whether it can successfully ramp up production over several years and deliver at a large scale.
The biggest challenge for AEVA right now is its financial health. In other words, the market is betting on huge growth that hasn't happened yet. AEVA’s revenues for the first three months of 2025 were $3.4 million, tiny compared to Innoviz's $17.4 million. Also, AEVA is burning through a lot of cash, over $30 million every quarter. While the company has backing from big investors and strategic funding, AEVA needs to turn its partnerships into steady income to justify its high stock price.
The Case for INVZ Stock
Innoviz's strong partnerships with major car companies like Volkswagen, Mobileye, and BMW are central to why investors might like this stock. For instance, Volkswagen's ID. Buzz robotaxi program will use nine InnovizTwo LiDARs per vehicle, with shipments starting in 2025. This shows real potential for high sales volume soon. These deep relationships with car manufacturers provide clear income certainty into 2026-2027 and put Innoviz ahead of AEVA when it comes to getting their automotive products to market. While AEVA's wins in trucking and infrastructure are promising, it doesn’t have the same immediate, high-volume production pipeline.
Innoviz also has a financial cushion from its $95 million backlog of upfront engineering work (called NRE). This provides a steady stream of income until mass production really gets going. In the first three months of 2025, Innoviz's revenues soared 2.5 times compared to last year, hitting $17.4 million. This was largely driven by profitable engineering services, which also pushed their gross profit margins to a healthy 40%. While AEVA is pursuing high-profile pilot projects, Innoviz is already making money from engineering work at a larger scale. Plus, Innoviz has cut its operating expenses by 34% compared to last year and burns less cash, strengthening its financial position compared to AEVA, even though both face the risk of issuing more shares.
Like AEVA, Innoviz is also expanding into non-automotive markets such as smart cities and safety systems, which broadens its potential customer base. However, INVZ’s heavy reliance on engineering income raises questions about how sustainable that revenue is until actual product volumes from car programs truly pick up in 2026. Scaling up manufacturing with their partner Fabrinet and transitioning to full production carries risks. Still, compared to AEVA, Innoviz has a more established revenue base and tighter control over its spending, offering more predictable short-term results and less speculative upside.
Price Performance
Over the past year, Aeva Technologies’ stock has skyrocketed more than 500%, showing a lot of excitement around its new deals and expansion into different markets. Innoviz is up 138%, a smaller but still significant gain that's supported by actual revenue growth and success with car manufacturers. This difference suggests AEVA's rally is more driven by investor sentiment and hopes for the future, while Innoviz's stock performance aligns more closely with its current business results.
Valuation Comparison
Aeva Technologies’ stock currently trades at a very high 45 times its expected future sales, making it look very expensive. Innoviz, in contrast, is valued at just over 3 times its expected future sales. This huge difference in valuation shows that the market is much more skeptical about AEVA's ability to quickly turn its partnerships into massive revenues compared to Innoviz's more modest and arguably more realistic expectations.
Revenue Outlook
As per the Zacks Consensus Estimate, AEVA's revenues for 2025 will be just over $17 million. While this shows projected 90% growth, it's starting from a very small base.
Innoviz, on the other hand, is expected to bring in $60 million in revenues in 2025, which is more than triple Aeva Technologies’ forecast. Innoviz is also projected to see stronger growth into 2026 as its car programs ramp up.
Conclusion
Both AEVA and Innoviz are chasing a massive opportunity in LiDAR technology. Aeva's expansion into infrastructure and its high-profile partnerships show exciting potential. However, its very high stock price and significant cash burn increase the risk if the company don't execute flawlessly. Innoviz, with its stronger ties to major car manufacturers, a more substantial current revenue base, and disciplined cost control, offers more grounded and predictable short-term fundamentals.
Given these factors, Innoviz appears to be the better stock right now. Its combination of clear visibility into automotive sales, smart financial management, and a lower stock price makes it the more balanced choice in a sector that's still figuring out which companies will truly come out on top. INVZ currently carries a Zacks Rank #3 (Hold), while AEVA has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.