Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 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:
June 30, 2022
(Unaudited)
ROU assets Lease liabilities
Real Estate $ 3,035  $ 4,118 
Cars 34  31 
Total operating leases $ 3,069  $ 4,149 
June 30, 2022
(Unaudited)
Lease liabilities
Current lease liabilities $ 1,685 
Non-current lease liabilities 2,464 
Total lease liabilities $ 4,149 
Summary of Lease Cost
The following table summarizes the lease costs recognized in the interim condensed consolidated statement of operations:
Three months ended June 30, 2022 Six months ended June 30, 2022
(Unaudited) (Unaudited)
Operating lease cost $ 472  $ 947 
Short term lease cost 126  208 
Variable lease cost 6  10 
Total lease cost $ 604  $ 1,165 
The following table presents supplementary cash flow information regarding the company's operating leases:
Six months ended June 30, 2022
(Unaudited)
Cash paid for amounts included in the measurement of lease liabilities $ 1,133 
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:
June 30, 2022
(Unaudited)
2022 Remaining $ 995 
2023 1,873 
2024 766 
2025 703 
Total undiscounted lease payments $ 4,337 
Less: Interest (188)
Total lease liabilities - operating $ 4,149