Innoviz Reports Third-Quarter 2023 Results, Delivering Strong Sequential and Year-Over-Year Revenue Growth

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands 




September 30,


December 31,




2023


2022


ASSETS


(Unaudited)





 CURRENT ASSETS:






Cash and cash equivalents

$

29,782

$

55,718


Short term restricted cash


51


236


Bank deposits


111,077


80,684


Marketable securities


15,458


41,681


Trade receivables, net


4,872


1,762


Inventory


4,838


4,236


Prepaid expenses and other current assets


5,444


3,236


 Total current assets


171,522


187,553








 LONG-TERM ASSETS:






Marketable securities


7,390


7,840


Restricted deposits


2,457


2,543


Property and equipment, net


29,080


30,489


Operating lease right-of-use assets, net


26,069


26,927


Other long-term assets


81


81


 Total long-term assets


65,077


67,880








 Total assets

$

236,599

$

255,433














     LIABILITIES AND SHAREHOLDERS' EQUITY






 CURRENT LIABILITIES:






Trade payables

$

7,006

$

8,367


Advances from customers and deferred revenues


4,596


4,082


Employees and payroll accruals


8,717


8,693


Accrued expenses and other current liabilities


6,971


7,572


Operating lease liabilities


3,857


3,720


 Total current liabilities


31,147


32,434








 LONG-TERM LIABILITIES:






Advances from customers and deferred revenues


121


61


Operating lease liabilities


27,643


30,201


Warrants liability


368


720


 Total long-term liabilities


28,132


30,982








 SHAREHOLDERS' EQUITY:






Ordinary Shares of no-par value


-


-


Additional paid-in capital


782,157


703,851


Accumulated deficit


(604,837)


(511,834)


 Total shareholders' equity


177,320


192,017








 Total liabilities and shareholders' equity

$

236,599

$

255,433









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