INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||
U.S. dollars in thousands | ||||
(Unaudited) | ||||
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| Three Months Ended March 31, | ||
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| 2024 |
| 2023 |
Cash flows from operating activities: |
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|
|
Net loss | $ | (30,138) | $ | (34,800) |
Adjustments required to reconcile net loss to net cash used in operating activities: |
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|
|
Depreciation and amortization |
| 2,495 |
| 1,407 |
Remeasurement of warrants liability |
| (86) |
| - |
Change in accrued interest on bank deposits |
| (787) |
| 1,195 |
Change in marketable securities |
| (158) |
| (294) |
Share-based compensation |
| 6,510 |
| 5,300 |
Foreign exchange gain, net |
| (46) |
| (89) |
Change in prepaid expenses and other assets |
| 2,170 |
| 424 |
Change in trade receivables, net |
| 7,058 |
| (292) |
Change in inventory |
| (144) |
| 103 |
Changes in operating lease assets and liabilities, net |
| (580) |
| 33 |
Change in trade payables |
| (2,067) |
| (1,346) |
Change in accrued expenses and other liabilities |
| (835) |
| 762 |
Change in employees and payroll accruals |
| 1,106 |
| 779 |
Change in deferred revenues |
| (6,367) |
| 219 |
Net cash used in operating activities |
| (21,869) |
| (26,599) |
Cash flows from investing activities: |
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|
|
|
Purchase of property and equipment |
| (1,149) |
| (2,357) |
Investment in bank deposits |
| (14,000) |
| - |
Withdrawal of bank deposits |
| 25,000 |
| 79,500 |
| Investment in restricted deposits |
| (67) |
| (40) |
| Investment in marketable securities |
| (938) |
| (7,100) |
| Proceeds from sales and maturities of marketable securities |
| 895 |
| 13,830 |
| Net cash provided by investing activities |
| 9,741 |
| 83,833 |
| Cash flows from financing activities: |
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|
|
| Proceeds from exercise of options |
| 42 |
| 120 |
| Net cash provided by financing activities |
| 42 |
| 120 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
| 74 |
| 126 |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| (12,012) |
| 57,480 |
| Cash, cash equivalents and restricted cash at the beginning of the period |
| 26,336 |
| 55,954 |
| Cash, cash equivalents and restricted cash at the end of the period | $ | 14,324 | $ | 113,434 |
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