Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of Operating ROU Assets and Lease Liabilities
Upon adoption, the Company recognized lease liabilities and corresponding ROU assets, adjusted for the accrued rent and remaining lease incentives received on the adoption date, as follows:
January 1, 2022
(Unaudited)
ROU assets Lease liabilities
Real Estate $ 3,878  $ 5,482 
Cars 50  49 
Total operating leases $ 3,928  $ 5,531 
The Company has the following operating ROU assets and lease liabilities:
March 31, 2022
(Unaudited)
ROU assets Lease liabilities
Real Estate $ 3,456  $ 4,893 
Cars 41  41 
Total operating leases $ 3,497  $ 4,934 
March 31, 2022
(Unaudited)
Lease liabilities
Current lease liabilities $ 1,681 
Non-current lease liabilities 3,253 
Total lease liabilities $ 4,934 
Summary of Lease Cost
The following table summarizes the lease costs recognized in the interim condensed consolidated statement of operations:
Three months ended March 31, 2022
(Unaudited)
Operating lease cost $ 475 
Short term lease cost 82 
Variable lease cost 4 
Total lease cost $ 561 
The following table presents supplementary cash flow information regarding the company's operating leases:
Three months ended March 31, 2022
(Unaudited)
Cash paid for amounts included in the measurement of lease liabilities $ 574 
Right of use assets obtained in exchange for new operating lease liabilities $ — 
Schedule of Operating Lease, Liability, Maturity
The following table summarizes the future payments of Innovid for its operating lease liabilities:
March 31, 2022
(Unaudited)
2022 Remaining $ 1,612 
2023 1,951 
2024 844 
2025 775 
Total undiscounted lease payments $ 5,182 
Less: Interest (248)
Total lease liabilities - operating $ 4,934