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

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

 CONSOLIDATED STATEMENTS OF CASH FLOWS 

U.S. dollars in thousands



Six Months Ended
June 30,


Three Months Ended
June 30,



2022


2021


2022


2021



(Unaudited)


(Unaudited)

Cash flows from operating activities:









     Net loss

$

(58,346)

$

(93,210)

$

(28,118)

$

(72,534)

Adjustments required to reconcile net loss to net cash
     used in operating activities:









Depreciation and amortization


4,192


1,325


2,044


673

Remeasurement of warrants liability


(789)


845


149


845

Decrease (increase) in accrued interest on bank deposits


(245)


-


82


-

Remeasurement of marketable securities


707


-


111


-

Share-based compensation 


9,165


51,662


4,457


49,887

Interest and foreign exchange loss (gain), net


1,220


(56)


1,223


(244)

Increase in prepaid expenses and other assets


(3,186)


(5,748)


(3,193)


(5,283)

Decrease (increase) in trade receivables         


(562)


507


29


813

Increase in inventories


(395)


(1,500)


(35)


(552)

Changes in operating lease assets and liabilities, net


(430)


-


(652)


-

Increase in trade payables


60


2,770


450


6,003

Increase (decrease) in accrued expenses and other
     liabilities


(1,185)


870


621


298

Increase (decrease) in employees and payroll accruals


(558)


4,162


(728)


3,430

Increase in advances from customers and deferred
     revenues


243


1,537


159


186

Net cash used in operating activities


(50,109)


(36,836)


(23,401)


(16,478)

Cash flows from investing activities:









Purchase of property and equipment


(5,026)


(2,133)


(2,620)


(1,417)

Investment in bank deposits


(50,000)


(195,000)


(45,000)


(195,000)

Withdrawal of bank deposits


135,000


-


105,000


-

Decrease (increase) in restricted deposits


(2,580)


1


(2,580)


(1)

Net cash provided by (used) in investing activities

$

77,394

$

(197,132)

$

54,800

$

(196,418)

Cash flows from financing activities:









Cash received from Transactions, net of issuance cost


-


122,728


-


122,728

Issuance of ordinary shares, net of issuance cost


-


217,343


-


46,843

Proceeds from exercise of options


293


468


205


448

Repayment of loans


-


(134)


-


(76)

Net cash provided by financing activities


293


340,405


205


169,943

Effect of exchange rate changes on cash, cash equivalents
     and restricted cash


(1,122)


20


(1,125)


297

Increase (decrease) in cash, cash equivalents and
     restricted cash


26,456


106,457


30,479


(42,656)

Cash, cash equivalents and restricted cash at beginning of
     the period


24,541


50,766


20,518


199,879

Cash, cash equivalents and restricted cash at end of the
     period

$

50,997

$

157,223

$

50,997

$

157,223


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