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

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands




Nine Months
Ended

 September 30,


Three Months
Ended

September 30,



2022


2021


2022


2021



(Unaudited)


(Unaudited)

Cash flows from operating activities:


















 Net loss

$

(92,551)

$

(119,641)

$

(34,205)

$

(26,431)










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









Depreciation and amortization


5,929


2,024


1,737


699

Remeasurement of warrants liability


(335)


(2,744)


454


(3,589)

Increase in accrued interest on bank deposits


(567)


-


(322)


-

Remeasurement of marketable securities


844


-


137


-

Share-based compensation 


14,097


59,827


4,932


8,165

Foreign exchange loss (gain), net


1,421


(137)


201


(80)

Decrease (increase) in prepaid expenses and other assets


(289)


(1,136)


2,897


4,612

Decrease (increase) in trade receivables 


(265)


1,373


297


866

Increase in inventory


(452)


(2,447)


(57)


(947)

Changes in operating lease assets and liabilities, net


5,483


-


5,913


-

Decrease in trade payables


(381)


(4,361)


(441)


(7,131)

Increase in accrued expenses and other liabilities


283


1,344


1,468


474

Increase (decrease) in employees and payroll accruals


882


2,143


1,440


(2,019)

Increase (decrease) in advances from customers and deferred revenues


334


570


91


(968)

Net cash used in operating activities


(65,567)


(63,185)


(15,458)


(26,349)

Cash flows from investing activities:









    Purchase of property and equipment


(17,739)


(2,998)


(12,713)


(864)

Investment in bank deposits


(79,500)


(215,000)


(29,500)


(20,000)

Withdrawal of bank deposits


175,000


30,000


40,000


30,000

Decrease (increase) in restricted deposits


(2,633)


56


(53)


55

Net cash provided by (used in) investing activities


75,128


(187,942)


(2,266)


9,191

Cash flows from financing activities:









Cash received from Transactions, net of issuance cost


-


122,728


-


-

Issuance of ordinary shares, net of issuance cost


-


217,343


-


-

Proceeds from exercise of options


507


690


214


222

Repayment of loans


-


(179)


-


(46)

Net cash provided by financing activities


507


340,582


214


176

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


(1,293)


216


(171)


196

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


8,775


89,671


(17,681)


(16,786)

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


24,541


50,766


50,997


157,223

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

$

33,316

$

140,437

$

33,316

$

140,437


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