Innoviz Technologies Reports 2021 First Quarter Financial Results

 

 

INNOVIZ TECHNOLOGIES LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

 
   

December 31,

 

March 31,

 
   

2020

 

2021

 
     

(Unaudited)

 

ASSETS

         

CURRENT ASSETS:

         

Cash and cash equivalents

$

49,950

$

199,092

 

Restricted deposits

 

8

 

8

 

Trade receivables

 

2,506

 

2,812

 

Inventories

 

2,164

 

3,112

 

Prepaid expenses and other current assets

 

3,287

 

4,126

 

Total current assets

 

57,915

 

209,150

 

LONG-TERM ASSETS:

         

Restricted deposits

 

864

 

833

 

Other long-term assets

 

537

 

26,369

 

Property and equipment, net

 

13,245

 

13,309

 

Total long-term assets

 

14,646

 

40,511

 

Total assets

$

72,561

$

249,661

 

LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' DEFICIT

         

CURRENT LIABILITIES:

         

Trade payables

$

7,751

$

4,518

 

Advances from customers and deferred revenues

 

1,661

 

3,012

 

Employees and payroll accruals

 

5,528

 

6,260

 

Accrued expenses and other current liabilities

 

2,854

 

29,632

 

Receipts on Ordinary Shares account

 

-

 

170,500

 

Total current liabilities

 

17,794

 

213,922

 

LONG-TERM LIABILITIES:

         

Loan, net of current maturities

 

2,224

 

2,077

 

Long-term advances from customers and deferred revenues

 

3,473

 

3,473

 

Total long-term liabilities

 

5,697

 

5,550

 
           

Convertible preferred shares

 

272,815

 

272,815

 

SHAREHOLDERS' DEFICIT:

         

    Ordinary Shares of no-par value

 

*-

 

*-

 

Additional paid-in capital

 

7,658

 

9,453

 

Accumulated deficit

 

(231,403)

 

(252,079)

 

Total shareholders' deficit

 

(223,745)

 

(242,626)

 

Total liabilities, convertible preferred shares and shareholders' deficit

$

72,561

$

249,661

 
           

* represents amount lower than $1


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