INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

(Unaudited)

Three Months Ended

   March 31,

2024

2023

Cash flows from operating activities:

    Net loss

$

(30,138)

$

(34,800)

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

Depreciation and amortization

2,495

1,407

Remeasurement of warrants liability

(86)

-

Change in accrued interest on bank deposits

(787)

1,195

Change in marketable securities

(158)

(294)

Share-based compensation 

6,510

5,300

Foreign exchange gain, net

(46)

(89)

Change in prepaid expenses and other assets

2,170

424

Change in trade receivables, net 

7,058

(292)

Change in inventory

(144)

103

Changes in operating lease assets and liabilities, net

(580)

33

Change in trade payables

(2,067)

(1,346)

Change in accrued expenses and other liabilities

(835)

762

Change in employees and payroll accruals

1,106

779

Change in deferred revenues

(6,367)

219

Net cash used in operating activities

(21,869)

(26,599)

Cash flows from investing activities:

    Purchase of property and equipment

(1,149)

(2,357)

Investment in bank deposits

(14,000)

-

Withdrawal of bank deposits

25,000

79,500

Investment in restricted deposits

(67)

(40)

Investment in marketable securities

(938)

(7,100)

Proceeds from sales and maturities of marketable securities

895

13,830

Net cash provided by investing activities

9,741

83,833

Cash flows from financing activities:

Proceeds from exercise of options

42

120

Net cash provided by financing activities

42

120

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

74

126

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

(12,012)

57,480

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

26,336

55,954

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

$

14,324

$

113,434