Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2.2
LEASES (Tables)
 9 Months Ended
Sep. 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:
September 30, 2022
(Unaudited)
ROU assets Lease liabilities
Real Estate $ 3,187  $ 4,156 
Cars 30  27 
Total operating leases $ 3,217  $ 4,183 
September 30, 2022
(Unaudited)
Lease liabilities
Current lease liabilities $ 1,904 
Non-current lease liabilities 2,279 
Total lease liabilities $ 4,183 
Summary of Lease Cost
The following table summarizes the lease costs recognized in the interim condensed consolidated statement of operations:
Three months ended September 30, 2022 Nine months ended September 30, 2022
(Unaudited) (Unaudited)
Operating lease cost $ 466  $ 1,413 
Short term lease cost 126  334 
Variable lease cost 10  20 
Total lease cost $ 602  $ 1,767 
The following table presents supplementary cash flow information regarding the company's operating leases:
Nine months ended September 30, 2022
(Unaudited)
Cash paid for amounts included in the measurement of lease liabilities $ 1,688 
Right of use assets obtained in exchange for new operating lease liabilities $ — 
Right of use assets obtained in exchange for operating lease liabilities upon lease modification $ 610 
Schedule of Operating Lease, Liability, Maturity
The following table summarizes the future payments of Innovid for its operating lease liabilities:
September 30, 2022
(Unaudited)
2022 Remaining $ 471 
2023 2,160 
2024 1,035 
2025 695 
Total undiscounted lease payments $ 4,361 
Less: Interest (178)
Total lease liabilities - operating $ 4,183