Innoviz Reports First-Quarter 2023 Results and Updates 2023 Targets

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES


CONSOLIDATED BALANCE SHEETS


U.S. dollars in thousands 






March 31,


December 31,




2023


2022


ASSETS


(Unaudited)




 CURRENT ASSETS:






Cash and cash equivalents

$

113,381

$

55,718


Short term restricted cash


53


236


Bank deposits


-


80,684


Marketable securities


35,187


41,681


Trade receivables, net


2,054


1,762


Inventory


4,133


4,236


Prepaid expenses and other current assets


2,976


3,236


 Total current assets


157,784


187,553








 LONG-TERM ASSETS:






Marketable securities


7,898


7,840


Restricted deposits


2,535


2,543


Property and equipment, net


30,978


30,489


Operating lease right-of-use assets


27,112


26,927


Other long-term assets


83


81


 Total long-term assets


68,606


67,880








 Total assets

$

226,390

$

255,433














     LIABILITIES AND SHAREHOLDERS' EQUITY






 CURRENT LIABILITIES:






Trade payables

$

6,476

$

8,367


Advances from customers and deferred revenues


4,241


4,082


Employees and payroll accruals


9,472


8,693


Accrued expenses and other current liabilities


8,574


7,572


Operating lease liabilities


4,744


3,720


 Total current liabilities


33,507


32,434








 LONG-TERM LIABILITIES:






Advances from customers and deferred revenues


121


61


Operating lease liabilities


29,395


30,201


Warrants liability


712


720


 Total long-term liabilities


30,228


30,982








 SHAREHOLDERS' EQUITY:






Ordinary Shares of no-par value


-


-


Additional paid-in capital


709,289


703,851


Accumulated deficit


(546,634)


(511,834)


 Total shareholders' equity


162,655


192,017








 Total liabilities and shareholders' equity

$

226,390

$

255,433









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