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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark One)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31,2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report

Commission file number 001-40310

INNOVIZ TECHNOLOGIES LTD.

(Exact name of Registrant as specified in its charter)

Not Applicable

(Translation of Registrant’s name into English)

State of Israel

(Jurisdiction of incorporation or organization)

Innoviz Technologies Campus

5 Uri Ariav Street, Bldg. C

Nitzba 300, Rosh HaAin, Israel

(Address of principal executive offices)

Eldar Cegla

Chief Financial Officer

Innoviz Technologies Campus

5 Uri Ariav Street, Bldg. C

Nitzba 300, Rosh HaAin, Israel

+972-74-700-3692

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered, pursuant to Section 12(b) of the Act

Title of each classTrading Symbol(s)Name of each exchange on which registered
Ordinary shares, no par value per shareINVZThe Nasdaq Stock Market LLC
Warrants to purchase ordinary sharesINVZWThe Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

As of December 31, 2025, the issuer had 214,090,980 ordinary shares outstanding.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐No ☒

Note—Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐ Large accelerated filer☐ Accelerated filer☒ Non-accelerated filer☒ Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☒ U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board☐ Other

If “Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow.

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

CONTENTS

Page
INDUSTRY AND MARKET DATA1
TRADEMARKS, TRADE NAMES AND SERVICE MARKS1
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS1
PART I3
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS3
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE3
ITEM 3. KEY INFORMATION3
A. [Reserved]3
B. Capitalization and Indebtedness3
C. Reasons for the Offer and Use of Proceeds3
D. Risk Factors3
ITEM 4. INFORMATION ON THE COMPANY35
A. History and Development of the Company35
B. Business Overview35
C. Organizational Structure42
D. Property, Plant and Equipment43
ITEM 4A. UNRESOLVED STAFF COMMENTS43
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS43
A. Operating Results47
B. Liquidity and Capital Resources50
C. Research and Development, Patents and Licenses, etc.52
D. Trend Information52
E. Critical Accounting Estimates52
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES53
A. Directors and Senior Management53
B. Compensation56
C. Board Practices59
D. Employees68
E. Share Ownership68
F. Disclosure of a registrant’s action to recover erroneously awarded compensation68

i

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS69
A. Major Shareholders69
B. Related Party Transactions70
C. Interests of Experts and Counsel71
ITEM 8. FINANCIAL INFORMATION71
A. Consolidated Statements and Other Financial Information71
B. Significant Changes71
ITEM 9. THE OFFER AND LISTING72
A. Offer and Listing Details72
B. Plan of Distribution72
C. Markets72
D. Selling Shareholders72
E. Dilution72
F. Expenses of the Issue72
ITEM 10. ADDITIONAL INFORMATION72
A. Share Capital72
B. Memorandum and Articles of Association72
C. Material Contracts73
D. Exchange Controls75
E. Taxation75
F. Dividends and Paying Agents85
G. Statement by Experts86
H. Documents on Display86
I. Subsidiary Information86
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK86
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES86

ii

PART II87
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES87
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS87
ITEM 15. CONTROLS AND PROCEDURES87
ITEM 16. [RESERVED]87
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT87
ITEM 16B. CODE OF ETHICS87
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES88
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES88
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS88
ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT88
ITEM 16G. CORPORATE GOVERNANCE89
ITEM 16H. MINE SAFETY DISCLOSURE89
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS89
ITEM 16J. INSIDER TRADING POLICIES90
ITEM 16K. CYBERSECURITY90
PART III91
ITEM 17. FINANCIAL STATEMENTS91
ITEM 18. FINANCIAL STATEMENTS91
ITEM 19. EXHIBITS92
SIGNATURES94
INDEX TO CONSOLIDATED FINANCIAL STATEMENTSF-1

iii

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.