INNOVIZ TECHNOLOGIES LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

U.S. dollars in thousands

Three Months Ended March 31,

2020

2021

(Unaudited)

Cash flows from operating activities:

Net loss

$

(19,769)

$

(20,676)

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

Depreciation and amortization

512

652

Share-based compensation

935

1,775

Capital gain

(6)

-

Foreign exchange loss

444

188

Decrease (increase) in prepaid expenses and other assets

771

(465)

Decrease (increase) in trade receivable           

424

(306)

Decrease (increase) in inventories

816

(948)

Decrease in trade payables

(1,395)

(3,233)

Increase in accrued expenses and other liabilities

872

572

Increase in employees and payroll accruals

539

732

Increase in advances from customers and deferred revenues

57

1,351

Net cash used in operating activities

(15,800)

(20,358)

Cash flows from investing activities:

Purchase of property and equipment

(1,578)

(716)

Investment in bank deposits, net

(281)

-

Decrease in restricted deposits

-

2

Net cash used in investing activities

(1,859)

(714)

Cash flows from financing activities:

Receipts on Ordinary shares account

-

170,500

Proceeds from exercise of options

62

20

Repayment of loan

(40)

(58)

Net cash provided by financing activities

22

170,462

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

(434)

(277)

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

(18,071)

149,113

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

73,427

50,766

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

$

55,356

$

199,879