INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
U.S. dollars in thousands | ||||||||
|
|
| Six Months Ended
|
| Three Months Ended
| ||||
|
|
| 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
|
|
|
|
|
|
|
|
|
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
|
| (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
|
| 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
|
| (1,122) |
| 20 |
| (1,125) |
| 297 |
| Increase (decrease) in cash, cash equivalents and
|
| 26,456 |
| 106,457 |
| 30,479 |
| (42,656) |
| Cash, cash equivalents and restricted cash at beginning of
|
| 24,541 |
| 50,766 |
| 20,518 |
| 199,879 |
| Cash, cash equivalents and restricted cash at end of the
| $ | 50,997 | $ | 157,223 | $ | 50,997 | $ | 157,223 |
