INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
U.S. dollars in thousands
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| Six Months Ended June 30, |
| Three Months Ended June 30, | ||||
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| 2023 |
| 2022 |
| 2023 |
| 2022 |
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|
| (Unaudited) |
| (Unaudited) | ||||
Cash flows from operating activities: |
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Net loss | $ | (65,974) | $ | (58,346) | $ | (31,174) | $ | (28,118) |
Adjustments required to reconcile net loss to net cash used in operating activities: |
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Depreciation and amortization |
| 2,954 |
| 4,192 |
| 1,547 |
| 2,044 |
Remeasurement of warrants liability |
| (245) |
| (789) |
| (245) |
| 149 |
Change in accrued interest on bank deposits |
| 455 |
| (245) |
| (740) |
| 82 |
Change in marketable securities |
| (237) |
| 707 |
| 57 |
| 111 |
Share-based compensation |
| 10,443 |
| 9,165 |
| 5,143 |
| 4,457 |
Foreign exchange loss, net |
| 65 |
| 1,220 |
| 154 |
| 1,223 |
Change in prepaid expenses and other assets |
| 1,014 |
| (3,186) |
| 590 |
| (3,193) |
Change in trade receivables, net |
| (620) |
| (562) |
| (328) |
| 29 |
Change in inventory |
| (348) |
| (395) |
| (451) |
| (35) |
| Changes in operating lease assets and liabilities, net |
| 202 |
| (430) |
| 169 |
| (652) |
| Change in trade payables |
| (134) |
| 60 |
| 1,212 |
| 450 |
| Change in accrued expenses and other liabilities |
| 110 |
| (1,185) |
| (652) |
| 621 |
| Change in employees and payroll accruals |
| 686 |
| (558) |
| (93) |
| (728) |
| Change in advances from customers and deferred revenues |
| 197 |
| 243 |
| (22) |
| 159 |
| Net cash used in operating activities |
| (51,432) |
| (50,109) |
| (24,833) |
| (23,401) |
| Cash flows from investing activities: |
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| Purchase of property and equipment |
| (5,136) |
| (5,026) |
| (2,779) |
| (2,620) |
| Investment in bank deposits |
| (62,000) |
| (50,000) |
| (62,000) |
| (45,000) |
| Withdrawal of bank deposits |
| 79,500 |
| 135,000 |
| - |
| 105,000 |
| Increase in restricted deposits |
| (40) |
| (2,580) |
| - |
| (2,580) |
| Investment in marketable securities |
| (23,004) |
| (17,664) |
| (15,904) |
| (15,489) |
| Proceeds from sales and maturities of marketable securities |
| 40,285 |
| 17,664 |
| 26,455 |
| 15,489 |
| Net cash provided by (used in) investing activities |
| 29,605 |
| 77,394 |
| (54,228) |
| 54,800 |
| Cash flows from financing activities: |
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| Proceeds from exercise of options |
| 227 |
| 293 |
| 107 |
| 205 |
| Net cash provided by financing activities |
| 227 |
| 293 |
| 107 |
| 205 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
| 29 |
| (1,122) |
| (97) |
| (1,125) |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| (21,571) |
| 26,456 |
| (79,051) |
| 30,479 |
| Cash, cash equivalents and restricted cash at the beginning of the period |
| 55,954 |
| 24,541 |
| 113,434 |
| 20,518 |
| Cash, cash equivalents and restricted cash at the end of the period | $ | 34,383 | $ | 50,997 | $ | 34,383 | $ | 50,997 |
