Innoviz Reports Second Quarter 2024 Results

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands 




June 30,


December 31,




2024


2023


ASSETS


(Unaudited)


(Audited)


 CURRENT ASSETS:






Cash and cash equivalents

$

24,012

$

26,283


Short term restricted cash


67


53


Bank deposits


65,785


105,750


Marketable securities


15,281


13,335


Trade receivables, net


5,418


7,395


Inventory


1,753


1,868


Prepaid expenses and other current assets


2,122


5,774


 Total current assets


114,438


160,458








 LONG-TERM ASSETS:






Marketable securities


1,227


4,813


Restricted deposits


2,539


2,623


Property and equipment, net


24,182


25,770


Operating lease right-of-use assets, net


24,358


25,486


Other long-term assets


82


84


 Total long-term assets


52,388


58,776








 Total assets

$

166,826

$

219,234














     LIABILITIES AND SHAREHOLDERS' EQUITY






 CURRENT LIABILITIES:






Trade payables

$

6,364

$

8,036


Deferred revenues


462


6,949


Employees and payroll accruals


9,716


9,468


Accrued expenses and other current liabilities


7,400


8,743


Operating lease liabilities


4,048


4,034


 Total current liabilities


27,990


37,230








 LONG-TERM LIABILITIES:






Operating lease liabilities


26,006


28,475


Warrants liability


91


240


 Total long-term liabilities


26,097


28,715








 SHAREHOLDERS' EQUITY:






Ordinary Shares of no-par value


-


-


Additional paid-in capital


799,332


788,577


Accumulated deficit


(686,593)


(635,288)


 Total shareholders' equity


112,739


153,289








 Total liabilities and shareholders' equity

$

166,826

$

219,234









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