Innoviz Technologies Ltd. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

FAIR VALUE MEASUREMENTS (Tables)

v3.24.0.1

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Assets and Liabilities at Fair Value on a Recurring Basis

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	18,148	$	-	$	18,148

Total financial assets	$	-	$	18,148	$	-	$	18,148
Liabilities:
Warrants (1)	$	-	$	-	$	240	$	240

Total financial liabilities	$	-	$	-	$	240	$	240

The below table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2022 by level within the fair value hierarchy:

	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	49,521	$	-	$	49,521

Total financial assets	$	-	$	49,521	$	-	$	49,521
Liabilities:
Warrants (1)	$	-	$	-	$	720	$	720

Total financial liabilities	$	-	$	-	$	720	$	720

Summary of the Binomial (Lattice) Valuation Model Assumptions used to Record the Fair Value of the Warrants

	Year ended December 31,
	2023			2022			2021
Balance at the beginning of the period	$	720		$	1,639		$	-
Private warrants liability assumed in Transactions		-			-			7,291
Change in fair value of warrants liability		(472	)		(890	)		(1,216	)
Reclassification of warrants liability to equity		(8	)		(29	)		(4,436	)
Balance at the end of the year	$	240		$	720		$	1,639

Summary of Change in the Level 3 Warrant Liability

	December 31,
	2023			2022
Fair value determined per warrant	$	0.53		$	1.57
Expected volatility		95	%		92.5	%
Expected annual dividend yield		0	%		0	%
Expected term (years)		2.3			3.3
Risk-free rate		4.2	%		4.2	%

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Name Accounting Standards Codification
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-Topic 820
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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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