INNOVIZ TECHNOLOGIES LTD. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW | ||||||||
U.S. dollars in thousands | ||||||||
|
| ||||||||
|
|
| Three Months Ended September 30, |
| Nine Months Ended September 30, | ||||
|
|
| 2020 |
| 2021 |
| 2020 |
| 2021 |
|
|
| (Unaudited) |
| (Unaudited) | ||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net loss | $ | (15,652) | $ | (26,431) | $ | (49,163) | $ | (119,641) |
Adjustments required to reconcile net loss to net cash used in
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
| 539 |
| 699 |
| 2,072 |
| 2,024 |
Revaluation of Private Warrants |
| - |
| (3,589) |
| - |
| (2,744) |
Stock Based Compensation |
| 798 |
| 8,165 |
| 2,383 |
| 59,826 |
Capital gain |
| - |
| - |
| (6) |
| - |
Interest income |
| (112) |
| (80) |
| (327) |
| (136) |
Decrease (increase) in prepaid expenses and current assets |
| 842 |
| 4,612 |
| 108 |
| (1,136) |
Decrease (increase) in accounts receivable |
| (1,355) |
| 866 |
| (932) |
| 1,373 |
Decrease (increase) in inventory |
| (99) |
| (947) |
| 455 |
| (2,447) |
Decrease in trade payables |
| (924) |
| (7,131) |
| (3,384) |
| (4,361) |
Increase in accrued expenses and other liabilities |
| 2,391 |
| 474 |
| 1,238 |
| 1,344 |
Increase (decrease) in employees and payroll accruals |
| 83 |
| (2,019) |
| 1,088 |
| 2,143 |
Increase (decrease) in advances from customers and deferred
|
| (69) |
| (968) |
| (130) |
| 570 |
Net cash used in operating activities |
| (13,558) |
| (26,349) |
| (46,598) |
| (63,185) |
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Purchase of property and equipment |
| (928) |
| (864) |
| (3,134) |
| (2,998) |
| Withdrawal of (investment in) short term deposits |
| (22) |
| 10,000 |
| 34,720 |
| (185,000) |
| Decrease in restricted deposits |
| - |
| 55 |
| - |
| 56 |
| Net cash provided (used) in investing activities |
| (950) |
| 9,191 |
| 31,586 |
| (187,942) |
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
| Cash received in connection with reverse merger, net of issuance
|
| - |
| - |
| - |
| 122,728 |
| Issuance of common stock in connection with PIPE offering, net
|
| - |
| - |
| - |
| 217,343 |
| Proceeds from exercise of options |
| 41 |
| 222 |
| 219 |
| 690 |
| Repayment of loan |
| (71) |
| (46) |
| (192) |
| (179) |
| Net cash provided (used) by financing activities |
| (30) |
| 176 |
| 27 |
| 340,582 |
| Effect of exchange rate changes on cash, cash equivalents and
|
| 118 |
| 196 |
| 325 |
| 216 |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| (14,420) |
| (16,786) |
| (14,660) |
| 89,671 |
| Cash, cash equivalents and restricted cash at beginning of the
|
| 73,187 |
| 157,223 |
| 73,427 |
| 50,766 |
| Cash, cash equivalents and restricted cash at end of the period | $ | 58,767 | $ | 140,437 | $ | 58,767 | $ | 140,437 |
