Innoviz Technologies Reports 2021 Second Quarter Financial Results

* Represents amount lower than $1

 

 

INNOVIZ TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
U.S. dollars in thousands




Three Months Ended June
30,


Six Months Ended June 30,



2020


2021


2020


2021



(Unaudited)


(Unaudited)

Cash flows from operating activities:









Net loss

$

(13,742)

$

(72,534)


(33,511)

$

(93,210)

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









Depreciation and amortization


1,022


673


1,533


1,325

Revaluation of Private Warrants


-


845


-


845

Share-based compensation


652


49,887


1,585


51,662

Capital gain


-


-


(6)


-

Foreign exchange loss


(659)


(244)


(215)


(56)

Increase in prepaid expenses and other assets


(1,505)


(5,283)


(734)


(5,748)

Decrease (increase) in trade receivable   


(1)


813


423


507

Decrease (increase) in inventories


(262)


(552)


554


(1,500)

Increase (decrease) in trade payables


(1,065)


6,003


(2,460)


2,770

Increase (decrease) in accrued expenses and other liabilities


(2,025)


298


(1,153)


870

Increase in employees and payroll accruals


466


3,430


1,005


4,162

Increase (decrease) in advances from customers and deferred revenues


(118)


186


(61)


1,537

Net cash used in operating activities


(17,237)


(16,478)


(33,040)


(36,836)

Cash flows from investing activities:









Purchase of property and equipment


(629)


(1,417)


(2,206)


(2,133)

Investment in bank deposits, net


35,023


(195,000)


34,742


(195,000)

Decrease (Increase) in restricted deposits


-


(1)


-


1

Net cash provided (used) in investing activities


34,394


(196,418)


32,536


(197,132)

Cash flows from financing activities:









Cash received from reverse capitalization, net of Issuance cost


-


122,728


-


122,728

Issue of Ordinary shares, net of Issuance cost


-


46,843


-


217,343

Proceeds from exercise of options


114


448


178


468

Repayment of loan


(81)


(76)


(121)


(134)

Net cash provided by financing activities


33


169,943


57


340,405

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


641


297


207


20

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


17,831


(42,656)


(240)


106,457

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


55,356


199,879


73,427


50,766

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

$

73,187

$

157,223


73,187

$

157,223


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