Innoviz Technologies Reports Fourth Quarter and Full Year 2021 Operational and Financial Results

 

 

INNOVIZ TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands



December 31,


December 31,




2021


2020




(Unaudited)


(Audited)


ASSETS






CURRENT ASSETS:






Cash and cash equivalents

$

23,640

$

49,950


Short term deposits


230,483


-


Marketable securities


11,607


-


Short-term restricted cash


901


8


Trade receivables


513


2,506


Inventory


4,256


2,164


Prepaid expenses and other current assets


3,029


3,287


Total current assets


274,429


57,915


LONG-TERM ASSETS:






Marketable securities


38,289


-


Restricted deposits


-


864


Other long-term assets


-


537


Property and equipment, net


14,502


13,245


Total long-term assets


52,791


14,646


Total assets

$

327,220

$

72,561


LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY (DEFICIT)






CURRENT LIABILITIES:






Trade payables

$

5,764

$

7,751


Advances from customers and deferred revenues


196


1,661


Employees and payroll accruals


8,997


5,528


Accrued expenses and other current liabilities


6,708


2,579


Short term loan and current maturities


-


275


Total current liabilities


21,665


17,794


LONG-TERM LIABILITIES:






Loan, net of current maturities


-


2,224


Long-term advances from customers and deferred revenues


4,517


3,473


Other long-term liabilities


597


-


Warrant liability


1,639


-


Total long-term liabilities


6,753


5,697


Convertible preferred shares


-


272,815


SHAREHOLDERS' EQUITY (DEFICIT):






Ordinary shares of no-par value


*-


*-


Additional paid-in capital


683,764


7,658


Accumulated deficit


(384,962)


(231,403)


Total shareholders' equity (deficit)


298,802


(223,745)


Total liabilities, convertible preferred shares and shareholders' equity (deficit)

$

327,220

$

72,561


   * Represents amount lower than $1







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