INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
U.S. dollars in thousands | ||||||||
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| ||||||||
|
|
| Nine Months
September 30, |
| Three Months
September 30, | ||||
|
|
| 2022 |
| 2021 |
| 2022 |
| 2021 |
|
|
| (Unaudited) |
| (Unaudited) | ||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss | $ | (92,551) | $ | (119,641) | $ | (34,205) | $ | (26,431) |
|
|
|
|
|
|
|
|
|
|
Adjustments required to reconcile net loss to net cash used in
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
| 5,929 |
| 2,024 |
| 1,737 |
| 699 |
Remeasurement of warrants liability |
| (335) |
| (2,744) |
| 454 |
| (3,589) |
Increase in accrued interest on bank deposits |
| (567) |
| - |
| (322) |
| - |
Remeasurement of marketable securities |
| 844 |
| - |
| 137 |
| - |
Share-based compensation |
| 14,097 |
| 59,827 |
| 4,932 |
| 8,165 |
Foreign exchange loss (gain), net |
| 1,421 |
| (137) |
| 201 |
| (80) |
Decrease (increase) in prepaid expenses and other assets
|
| (289) |
| (1,136) |
| 2,897 |
| 4,612 |
| Decrease (increase) in trade receivables |
| (265) |
| 1,373 |
| 297 |
| 866 |
| Increase in inventory |
| (452) |
| (2,447) |
| (57) |
| (947) |
| Changes in operating lease assets and liabilities, net |
| 5,483 |
| - |
| 5,913 |
| - |
| Decrease in trade payables |
| (381) |
| (4,361) |
| (441) |
| (7,131) |
| Increase in accrued expenses and other liabilities |
| 283 |
| 1,344 |
| 1,468 |
| 474 |
| Increase (decrease) in employees and payroll accruals |
| 882 |
| 2,143 |
| 1,440 |
| (2,019) |
| Increase (decrease) in advances from customers and deferred revenues |
| 334 |
| 570 |
| 91 |
| (968) |
| Net cash used in operating activities |
| (65,567) |
| (63,185) |
| (15,458) |
| (26,349) |
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Purchase of property and equipment |
| (17,739) |
| (2,998) |
| (12,713) |
| (864) |
| Investment in bank deposits |
| (79,500) |
| (215,000) |
| (29,500) |
| (20,000) |
| Withdrawal of bank deposits |
| 175,000 |
| 30,000 |
| 40,000 |
| 30,000 |
| Decrease (increase) in restricted deposits |
| (2,633) |
| 56 |
| (53) |
| 55 |
| Net cash provided by (used in) investing activities |
| 75,128 |
| (187,942) |
| (2,266) |
| 9,191 |
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
| Cash received from Transactions, net of issuance cost |
| - |
| 122,728 |
| - |
| - |
| Issuance of ordinary shares, net of issuance cost |
| - |
| 217,343 |
| - |
| - |
| Proceeds from exercise of options |
| 507 |
| 690 |
| 214 |
| 222 |
| Repayment of loans |
| - |
| (179) |
| - |
| (46) |
| Net cash provided by financing activities |
| 507 |
| 340,582 |
| 214 |
| 176 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
| (1,293) |
| 216 |
| (171) |
| 196 |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| 8,775 |
| 89,671 |
| (17,681) |
| (16,786) |
| Cash, cash equivalents and restricted cash at beginning of the period |
| 24,541 |
| 50,766 |
| 50,997 |
| 157,223 |
| Cash, cash equivalents and restricted cash at end of the period | $ | 33,316 | $ | 140,437 | $ | 33,316 | $ | 140,437 |
