Light and Detection Ranging (LiDAR) developer Innoviz has entered a multi-year agreement worth approximately US$80 million in Non-Recurring Engineering (NRE) payments from its existing customers.

The payments are expected to occur between 2025 and 2027, with over US$40 million anticipated in 2025.

Innoviz has agreements with Volkswagen and Mobileye, but these companies have not yet generated revenue from product sales.

This agreement occurs amid cash flow challenges for Innoviz.

These challenges are caused by delays in order acquisition and necessary product adjustments.