Innoviz Reports Fourth Quarter and Full Year 2023 Results, Exceeding Revenue Guidance

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

(Unaudited)




December 31,


December 31,




2023


2022


ASSETS






 CURRENT ASSETS:






Cash and cash equivalents

$

26,283

$

55,718


Short term restricted cash


53


236


Bank deposits


105,750


80,684


Marketable securities


13,335


41,681


Trade receivables, net


7,395


1,762


Inventory


1,868


4,236


Prepaid expenses and other current assets


5,774


3,236


 Total current assets


160,458


187,553








 LONG-TERM ASSETS:






Marketable securities


4,813


7,840


Restricted deposits


2,623


2,543


Property and equipment, net


25,770


30,489


Operating lease right-of-use assets, net


25,486


26,927


Other long-term assets


84


81


 Total long-term assets


58,776


67,880








 Total assets

$

219,234

$

255,433














 LIABILITIES AND SHAREHOLDERS' EQUITY






 CURRENT LIABILITIES:






Trade payables

$

8,036

$

8,367


Deferred revenues


6,949


4,082


Employees and payroll accruals


9,468


8,693


Accrued expenses and other current liabilities


8,743


7,572


Operating lease liabilities


4,034


3,720


 Total current liabilities


37,230


32,434








 LONG-TERM LIABILITIES:






Deferred revenues


-


61


Operating lease liabilities


28,475


30,201


Warrants liability


240


720


 Total long-term liabilities


28,715


30,982








 SHAREHOLDERS' EQUITY:






Ordinary Shares of no-par value


-


-


Additional paid-in capital


788,577


703,851


Accumulated deficit


(635,288)


(511,834)


 Total shareholders' equity


153,289


192,017








 Total liabilities and shareholders' equity

$

219,234

$

255,433















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