$INVZ

Innoviz Technologies Ltd.

CIK:0001835654|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenues	$ 55,089	$ 24,268	$ 20,876
Cost of revenues	(42,184)	(25,429)	(32,490)
Gross profit (loss)	12,905	(1,161)	(11,614)
Operating expenses:
Research and development	56,478	73,817	92,676
Sales and marketing	5,751	7,474	8,777
General and administrative	18,409	19,466	19,535
Total operating expenses	80,638	100,757	120,988
Operating loss	(67,733)	(101,918)	(132,602)
Financial income, net	109	7,328	9,790
Loss before taxes on income	(67,624)	(94,590)	(122,812)
Taxes on income	(171)	(167)	(642)
Net loss	$ (67,795)	$ (94,757)	$ (123,454)
Basic net loss per ordinary share	$ (0.34)	$ (0.57)	$ (0.84)
Diluted net loss per ordinary share	$ (0.34)	$ (0.57)	$ (0.84)
Weighted average number of ordinary shares used in computing basic net loss per ordinary share	199,895,238	167,216,070	147,480,521
Weighted average number of ordinary shares used in computing diluted net loss per ordinary share	199,895,238	167,216,070	147,480,521

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net Loss	$ (67,795)	$ (94,757)	$ (123,454)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,873	7,786	9,192
Remeasurement of warrants liability	(75)	(154)	(472)
Change in accrued interest on bank deposits	(757)	1,939	(1,051)
Change in marketable securities	(156)	(534)	(409)
Share-based compensation	15,954	19,682	22,320
Capital gain, net	0	(75)	0
Foreign exchange gain, net	(1,502)	(305)	(470)
Change in prepaid expenses and other assets	1,145	(437)	(782)
Change in trade receivables, net	(6,850)	1,352	(5,633)
Change in inventory	240	(37)	2,368
Change in operating lease assets and liabilities, net	3,765	(623)	29
Change in trade payables	(67)	(72)	424
Change in accrued expenses and other liabilities	424	(3,299)	2,578
Change in employees and payroll accruals	305	(746)	333
Change in deferred revenues	1,578	(6,675)	1,974
Net cash used in operating activities	(47,918)	(76,955)	(93,053)
Cash flows from investing activities:
Purchase of property and equipment	(4,250)	(4,412)	(6,579)
Proceeds from sale of machinery	2,915	0	0
Proceeds from sales of property and equipment	3	75	0
Investment in bank deposits	(99,800)	(54,100)	(165,600)
Withdrawal of bank deposits	77,150	127,300	141,500
Investment in restricted deposits	(120)	(122)	(40)
Release of restricted deposits	63	0	0
Investment in marketable securities	(37,628)	(55,493)	(51,678)
Proceeds from sales and maturities of marketable securities	40,273	62,220	83,461
Net cash provided by (used in) investing activities	(21,394)	75,468	1,064
Cash flows from financing activities:
Issuance of ordinary shares and warrants, net of issuance costs	37,289	0	0
Issuance of ordinary shares, net of paid issuance costs	13,339	0	61,400
Proceeds from exercise of shares options	837	224	456
Net cash provided by financing activities	51,465	224	61,856
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,120	308	515
Decrease in cash, cash equivalents and restricted cash	(16,727)	(955)	(29,618)
Cash, cash equivalents and restricted cash at the beginning of the year	25,381	26,336	55,954
Cash, cash equivalents and restricted cash at the end of the year	8,654	25,381	26,336
(1) Cash paid during the year for:
Income taxes	295	232	703
(2) Non-cash transactions:
Purchase of property and equipment	1,264	1,867	831
Reclassification from property and equipment, net to inventory	1,679	0	0
Reclassification of warrants liability to equity	4	0	8
Issuance cost to be paid	67	0	0
Exercise of shares options	0	41	0
Right-of-use assets recognized with corresponding lease liabilities	4,541	0	868
(3) Cash, cash equivalents and restricted cash at the end of the year:
Cash and cash equivalents	8,638	25,365	26,283
Short-term restricted cash	16	16	53
Cash, cash equivalents and restricted cash at the end of the year	$ 8,654	$ 25,381	$ 26,336

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and Cash Equivalent	$ 8,638	$ 25,365
Short-term restricted cash	16	16
Bank deposits	54,010	30,628
Marketable securities	9,466	11,955
Trade receivables, net	9,978	6,043
Inventory	3,344	1,905
Prepaid expenses and other current assets	4,780	6,707
Total current assets	90,232	82,619
LONG-TERM ASSETS:
Restricted deposits	3,189	2,725
Property and equipment, net	19,856	23,432
Operating lease right-of-use assets, net	25,086	23,194
Other long-term assets	89	79
Total long-term assets	48,220	49,430
Total assets	138,452	132,049
CURRENT LIABILITIES:
Trade payables	8,599	8,813
Deferred revenues	1,852	274
Employees and payroll accruals	9,027	8,722
Accrued expenses and other current liabilities	5,998	5,631
Operating lease liabilities	5,949	4,330
Total current liabilities	31,425	27,770
LONG-TERM LIABILITIES:
Operating lease liabilities	29,302	25,264
Warrants liability	7	86
Total long-term liabilities	29,309	25,350
SHAREHOLDERS' EQUITY:
Ordinary shares of no-par value: Authorized: 500,000,000 shares as of December 31, 2025 and 2024; Issued and outstanding: 214,090,980 and 169,397,030 shares as of December 31, 2025 and 2024, respectively	0	0
Additional paid-in capital	875,558	808,974
Accumulated deficit	(797,840)	(730,045)
Total shareholders' equity	77,718	78,929
Total liabilities and shareholders' equity	$ 138,452	$ 132,049