Innoviz Reports Second Quarter 2024 Results

 

 

INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

(Unaudited)




Six Months Ended

 June 30,


Three Months Ended

June 30,



2024


2023


2024


2023

Cash flows from operating activities:









Net loss

$

(51,305)

$

(65,974)

$

(21,167)

$

(31,174)

Adjustments required to reconcile net loss to net cash used in operating activities:









Depreciation and amortization


4,036


2,954


1,541


1,547

Remeasurement of warrants liability


(149)


(245)


(63)


(245)

Change in accrued interest on bank deposits


(465)


455


322


(740)

Change in marketable securities


(259)


(237)


(101)


57

Share-based compensation 


11,145


10,443


4,635


5,143

Foreign exchange loss, net


124


65


170


154

Change in prepaid expenses and other assets


3,153


1,014


983


590

Change in trade receivables, net 


1,977


(620)


(5,081)


(328)

Change in inventory


115


(348)


259


(451)

Changes in operating lease assets and liabilities, net


(1,327)


202


(747)


169

Change in trade payables


(2,247)


(134)


(180)


1,212

Change in accrued expenses and other liabilities


(1,187)


110


(352)


(652)

Change in employees and payroll accruals


248


686


(858)


(93)

Change in deferred revenues


(6,487)


197


(120)


(22)

 Net cash used in operating activities


(42,628)


(51,432)


(20,759)


(24,833)

Cash flows from investing activities:









Purchase of property and equipment


(2,029)


(5,136)


(880)


(2,779)

Investment in bank deposits


(15,500)


(62,000)


(1,500)


(62,000)

Withdrawal of bank deposits


56,000


79,500


31,000


-

Investment in restricted deposits


(67)


(40)


-


-

Investment in marketable securities


(14,795)


(23,004)


(13,857)


(15,904)

Proceeds from sales and maturities of marketable securities


16,694


40,285


15,799


26,455

 Net cash provided by (used in) investing activities


40,303


29,605


30,562


(54,228)

Cash flows from financing activities:









Proceeds from exercise of options


111


227


69


107

 Net cash provided by financing activities


111


227


69


107

Effect of exchange rate changes on cash, cash equivalents and restricted cash


(43)


29


(117)


(97)

Increase (decrease) in cash, cash equivalents and restricted cash


(2,257)


(21,571)


9,755


(79,051)

Cash, cash equivalents and restricted cash at the beginning of the period


26,336


55,954


14,324


113,434

Cash, cash equivalents and restricted cash at the end of the period

$

24,079

$

34,383

$

24,079

$

34,383


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