INNOVIZ TECHNOLOGIES LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
U.S. dollars in thousands (Unaudited)
| ||||||||
|
|
| Nine Months Ended September 30, |
| Three Months Ended September 30, | ||||
|
|
| 2024 |
| 2023 |
| 2024 |
| 2023 |
Cash flows from operating activities: |
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|
|
|
|
|
|
|
Net loss | $ | (76,161) | $ | (93,003) | $ | (24,856) | $ | (27,029) |
Adjustments required to reconcile net loss
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
| 6,194 |
| 5,245 |
| 2,158 |
| 2,291 |
Remeasurement of warrants liability |
| (176) |
| (344) |
| (27) |
| (99) |
Change in accrued interest on bank deposits |
| 891 |
| (342) |
| 1,356 |
| (797) |
Change in marketable securities |
| (450) |
| (409) |
| (191) |
| (172) |
Share-based compensation |
| 15,866 |
| 15,826 |
| 4,721 |
| 5,383 |
Foreign exchange loss (gain), net |
| (134) |
| 447 |
| (258) |
| 382 |
Change in prepaid expenses and other assets |
| 2,914 |
| (441) |
| (239) |
| (1,455) |
Change in trade receivables, net |
| 3,856 |
| (3,110) |
| 1,879 |
| (2,490) |
Change in inventory |
| 641 |
| (602) |
| 526 |
| (254) |
Changes in operating lease assets and liabilities, net |
| (992) |
| (1,563) |
| 335 |
| (1,765) |
| Change in trade payables |
| (1,703) |
| 56 |
| 544 |
| 190 |
| Change in accrued expenses and other liabilities |
| (3,428) |
| (544) |
| (2,241) |
| (654) |
| Change in employees and payroll accruals |
| 241 |
| (823) |
| (7) |
| (1,509) |
| Change in deferred revenues |
| (6,671) |
| 574 |
| (184) |
| 377 |
| Net cash used in operating activities |
| (59,112) |
| (79,033) |
| (16,484) |
| (27,601) |
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Purchase of property and equipment |
| (3,221) |
| (6,098) |
| (1,192) |
| (962) |
| Investment in bank deposits |
| (26,700) |
| (142,600) |
| (11,200) |
| (80,600) |
| Withdrawal of bank deposits |
| 88,600 |
| 112,500 |
| 32,600 |
| 33,000 |
| Investment in restricted deposits |
| (122) |
| (40) |
| (55) |
| - |
| Investment in marketable securities |
| (33,457) |
| (34,793) |
| (18,662) |
| (11,789) |
| Proceeds from sales and maturities of marketable |
|
|
|
|
|
|
|
|
| securities |
| 35,290 |
| 61,875 |
| 18,596 |
| 21,590 |
| Net cash provided by (used in) investing activities |
| 60,390 |
| (9,156) |
| 20,087 |
| (38,761) |
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
| Issuance of ordinary shares, net of issuance cost |
| - |
| 61,934 |
| - |
| 61,934 |
| Proceeds from exercise of options |
| 169 |
| 406 |
| 58 |
| 179 |
| Net cash provided by financing activities |
| 169 |
| 62,340 |
| 58 |
| 62,113 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
| 182 |
| (272) |
| 225 |
| (301) |
| Increase (decrease) in cash, cash equivalents and restricted cash |
| 1,629 |
| (26,121) |
| 3,886 |
| (4,550) |
| Cash, cash equivalents and restricted cash at the beginning of the period |
| 26,336 |
| 55,954 |
| 24,079 |
| 34,383 |
| Cash, cash equivalents and restricted cash at the end of he period | $ | 27,965 | $ | 29,833 | $ | 27,965 | $ | 29,833 |
