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STATEMENTS OF CHANGES IN TEMPORARY EQUITY AND STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common stocks
Treasury stocks
Additional paid-in capital
Retained Earnings [Member]
Beginning balance (in shares) at Dec. 31, 2018 60,813,980        
Beginning balance at Dec. 31, 2018 $ 48,001        
Increase (Decrease) in Temporary Equity [Roll Forward]          
Issuance of Series F preferred stocks, net of issuance cost (in shares) 12,876,360        
Temporary Equity Issuance of Preferred Stocks, Net of Issuance Cost $ 29,692        
Temporary Equity, Accretion to Redemption Value $ 2,007        
Ending balance (in shares) at Dec. 31, 2019 73,690,340        
Ending balance at Dec. 31, 2019 $ 79,700        
Beginning balance (in shares) at Dec. 31, 2018   15,754,951 1,914,328    
Balance at Dec. 31, 2018 (33,923) $ 2 $ (1,629) $ 4,588 $ (36,884)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Preferred Stock, Accretion of Redemption Discount (2,007)     (2,007)  
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 378     378  
Stock options exercised (in shares)   214,309      
Stock Issued During Period, Value, Stock Options Exercised 99     99  
Net Income (Loss) Attributable to Parent (7,334)       (7,334)
Ending balance (in shares) at Dec. 31, 2019   15,969,260 1,914,328    
Balance at Dec. 31, 2019 (42,787) $ 2 $ (1,629) 3,058 (44,218)
Increase (Decrease) in Temporary Equity [Roll Forward]          
Temporary Equity, Accretion to Redemption Value $ 7,297        
Ending balance (in shares) at Dec. 31, 2020 73,690,340        
Ending balance at Dec. 31, 2020 [1] $ 86,997        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Preferred Stock, Accretion of Redemption Discount (7,297)     (4,214) (3,083)
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock 504     504  
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 584     584  
Stock options exercised (in shares)   306,349      
Stock Issued During Period, Value, Stock Options Exercised 78     78  
Net Income (Loss) Attributable to Parent (812)       (812)
Ending balance (in shares) at Dec. 31, 2020   16,275,609 1,914,328    
Balance at Dec. 31, 2020 (49,730) $ 2 $ (1,629) 10 (48,113)
Increase (Decrease) in Temporary Equity [Roll Forward]          
Temporary Equity, Accretion to Redemption Value $ 77,063        
Conversion of redeemable convertible preferred stock into common stock (in shares) (73,690,340)        
Temporary Equity Conversion of Redeemable Convertible Preferred Stock Into Common Stock $ (164,060)        
Ending balance (in shares) at Dec. 31, 2021 0        
Ending balance at Dec. 31, 2021 [1] $ 0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Preferred Stock, Accretion of Redemption Discount (77,063)     (4,172) (72,891)
Conversion of redeemable convertible preferred stock into common stock (in shares)   73,690,340      
Stock Issued During Period, Value, Conversion of Convertible Securities 164,060 $ 7   164,053  
Reverse recapitalization, net (in shares)   25,154,340 (1,914,328)    
Reverse Recapitalization, Value, Net 126,026 $ 3 $ 1,629 124,394  
Conversion of Legacy Innovid warrants ( in shares)   507,994      
Stock Issued During Period, Value, Conversion of Warrants 5,080     5,080  
Warrant exercised (in shares) [2]   132,392      
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 3,273     3,273  
Stock options exercised (in shares)   3,256,705      
Stock Issued During Period, Value, Stock Options Exercised 1,081     1,081  
Net Income (Loss) Attributable to Parent (11,472)       (11,472)
Ending balance (in shares) at Dec. 31, 2021   119,017,380 0    
Balance at Dec. 31, 2021 $ 161,255 $ 12 $ 0 $ 293,719 $ (132,476)
[1] Prior period results have been adjusted to reflect the exchange of Innovid Inc’s common stock for Innovid Corp’s common stock at an exchange ratio of approximately 1.337 as a result of the Transaction. See Note 5, “Transaction and Business Combination” in the notes to the consolidated financial statements for further details.
[2] The warrant was exercised in November 2021 and was net share settled.