Innoviz Technologies Provides Commercial Updates and Reports Second Quarter 2022 Financial Results

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands 










June 30,


December 31,




2022


2021




(Unaudited)




ASSETS






 CURRENT ASSETS:






Cash and cash equivalents

$

50,279

$

23,640


Restricted cash


718


901


Bank deposits


145,728


230,483


Marketable securities


21,886


11,607


Trade receivables


1,075


513


Inventory


4,651


4,256


Prepaid expenses and other current assets


6,145


3,029


 Total current assets


230,482


274,429








 LONG-TERM ASSETS:






Marketable securities


27,303


38,289


Restricted deposits


2,482


-


Property and equipment, net


21,485


14,502


Operating lease right-of-use assets, net


27,361


-


 Total long-term assets


78,631


52,791








 Total assets

$

309,113

$

327,220














LIABILITIES AND SHAREHOLDERS' EQUITY






 CURRENT LIABILITIES:






Trade payables

$

5,824

$

5,764


Advances from customers and deferred revenues


334


196


Employees and payroll accruals


8,439


8,997


Accrued expenses and other current liabilities


11,716


6,708


Operating lease liabilities


1,481


-


  Total current liabilities


27,794


21,665








 LONG-TERM LIABILITIES:












Advances from customers and deferred revenues


4,622


4,517


Other liabilities


-


597


Operating lease liabilities


25,914


-


Warrants liability


835


1,639


  Total long-term liabilities


31,371


6,753








 SHAREHOLDERS' EQUITY:






Ordinary Shares of no-par value


-


-


Additional paid-in capital


693,256


683,764


Accumulated deficit


(443,308)


(384,962)


  Total shareholders' equity


249,948


298,802








 Total liabilities and shareholders' equity

$

309,113

$

327,220



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