INNOVIZ TECHNOLOGIES LTD.
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| Three Months Ended June
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| Six Months Ended June 30, | ||||
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| 2020 |
| 2021 |
| 2020 |
| 2021 |
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| (Unaudited) |
| (Unaudited) | ||||
Cash flows from operating activities: |
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Net loss | $ | (13,742) | $ | (72,534) |
| (33,511) | $ | (93,210) |
Adjustments required to reconcile net loss to net cash used in operating activities: |
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Depreciation and amortization |
| 1,022 |
| 673 |
| 1,533 |
| 1,325 |
Revaluation of Private Warrants |
| - |
| 845 |
| - |
| 845 |
Share-based compensation |
| 652 |
| 49,887 |
| 1,585 |
| 51,662 |
Capital gain |
| - |
| - |
| (6) |
| - |
Foreign exchange loss |
| (659) |
| (244) |
| (215) |
| (56) |
Increase in prepaid expenses and other assets |
| (1,505) |
| (5,283) |
| (734) |
| (5,748) |
Decrease (increase) in trade receivable |
| (1) |
| 813 |
| 423 |
| 507 |
Decrease (increase) in inventories |
| (262) |
| (552) |
| 554 |
| (1,500) |
Increase (decrease) in trade payables |
| (1,065) |
| 6,003 |
| (2,460) |
| 2,770 |
Increase (decrease) in accrued expenses and other liabilities |
| (2,025) |
| 298 |
| (1,153) |
| 870 |
Increase in employees and payroll accruals |
| 466 |
| 3,430 |
| 1,005 |
| 4,162 |
Increase (decrease) in advances from customers and deferred revenues |
| (118) |
| 186 |
| (61) |
| 1,537 |
Net cash used in operating activities |
| (17,237) |
| (16,478) |
| (33,040) |
| (36,836) |
| Cash flows from investing activities: |
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| Purchase of property and equipment |
| (629) |
| (1,417) |
| (2,206) |
| (2,133) |
| Investment in bank deposits, net |
| 35,023 |
| (195,000) |
| 34,742 |
| (195,000) |
| Decrease (Increase) in restricted deposits |
| - |
| (1) |
| - |
| 1 |
| Net cash provided (used) in investing activities |
| 34,394 |
| (196,418) |
| 32,536 |
| (197,132) |
| Cash flows from financing activities: |
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| Cash received from reverse capitalization, net of Issuance cost |
| - |
| 122,728 |
| - |
| 122,728 |
| Issue of Ordinary shares, net of Issuance cost |
| - |
| 46,843 |
| - |
| 217,343 |
| Proceeds from exercise of options |
| 114 |
| 448 |
| 178 |
| 468 |
| Repayment of loan |
| (81) |
| (76) |
| (121) |
| (134) |
| Net cash provided by financing activities |
| 33 |
| 169,943 |
| 57 |
| 340,405 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
| 641 |
| 297 |
| 207 |
| 20 |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| 17,831 |
| (42,656) |
| (240) |
| 106,457 |
| Cash, cash equivalents and restricted cash at beginning of the period |
| 55,356 |
| 199,879 |
| 73,427 |
| 50,766 |
| Cash, cash equivalents and restricted cash at end of the period | $ | 73,187 | $ | 157,223 |
| 73,187 | $ | 157,223 |
