INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES | |||||
CONSOLIDATED BALANCE SHEETS | |||||
U.S. dollars in thousands | |||||
(Unaudited) | |||||
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| December 31, |
| December 31, |
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| 2023 |
| 2022 |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents | $ | 26,283 | $ | 55,718 |
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Short term restricted cash |
| 53 |
| 236 |
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Bank deposits |
| 105,750 |
| 80,684 |
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Marketable securities |
| 13,335 |
| 41,681 |
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Trade receivables, net |
| 7,395 |
| 1,762 |
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Inventory |
| 1,868 |
| 4,236 |
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Prepaid expenses and other current assets |
| 5,774 |
| 3,236 |
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Total current assets |
| 160,458 |
| 187,553 |
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LONG-TERM ASSETS: |
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Marketable securities |
| 4,813 |
| 7,840 |
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Restricted deposits |
| 2,623 |
| 2,543 |
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Property and equipment, net |
| 25,770 |
| 30,489 |
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Operating lease right-of-use assets, net |
| 25,486 |
| 26,927 |
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Other long-term assets |
| 84 |
| 81 |
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Total long-term assets |
| 58,776 |
| 67,880 |
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Total assets | $ | 219,234 | $ | 255,433 |
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| LIABILITIES AND SHAREHOLDERS' EQUITY |
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| CURRENT LIABILITIES: |
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| Trade payables | $ | 8,036 | $ | 8,367 |
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| Deferred revenues |
| 6,949 |
| 4,082 |
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| Employees and payroll accruals |
| 9,468 |
| 8,693 |
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| Accrued expenses and other current liabilities |
| 8,743 |
| 7,572 |
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| Operating lease liabilities |
| 4,034 |
| 3,720 |
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| Total current liabilities |
| 37,230 |
| 32,434 |
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| LONG-TERM LIABILITIES: |
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| Deferred revenues |
| - |
| 61 |
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| Operating lease liabilities |
| 28,475 |
| 30,201 |
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| Warrants liability |
| 240 |
| 720 |
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| Total long-term liabilities |
| 28,715 |
| 30,982 |
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| SHAREHOLDERS' EQUITY: |
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| Ordinary Shares of no-par value |
| - |
| - |
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| Additional paid-in capital |
| 788,577 |
| 703,851 |
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| Accumulated deficit |
| (635,288) |
| (511,834) |
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| Total shareholders' equity |
| 153,289 |
| 192,017 |
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| Total liabilities and shareholders' equity | $ | 219,234 | $ | 255,433 |
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