Business Context and Reporting Period
Innoviz Technologies Ltd. furnished this Form 6-K on November 7, 2023 for the month of November 2023. The filing primarily covers materials for the Company’s Annual General Meeting of Shareholders scheduled for December 12, 2023, and a change in independent auditors.
Financial and Operating Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating performance metrics.
Material Changes Versus Prior Comparable Period
- The Audit Committee recommended, and the Board approved, replacing Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, with Kesselman & Kesselman, a member of PricewaterhouseCoopers International Limited, as independent public accounting firm for the fiscal year ending December 31, 2023.
- The engagement of PwC is contingent upon shareholder approval at the December 12, 2023 Annual General Meeting.
- EY’s reports on the Company’s financial statements for the years ended December 31, 2022 and 2021 contained no adverse opinion, disclaimer, or qualification relating to uncertainty, audit scope, or accounting principles.
Guidance, Outlook, Risks, Contingencies, and Unusual Items
- The Company reported no disagreements with EY regarding accounting principles, financial statement disclosure, or audit scope and procedures during the fiscal years ended December 31, 2022 and 2021 or the subsequent interim period through the proxy statement date.
- The Company reported no reportable events under Form 20-F Item 16F(a)(1)(v).
- EY confirmed in a letter dated November 7, 2023 that it agrees with the Company’s disclosures regarding the auditor change.
- The filing does not provide updated financial guidance or an operating outlook.
Important Facts for Investors to Verify
- Review the December 12, 2023 Annual General Meeting notice, proxy statement, and proposed shareholder vote on the PwC engagement.
- Confirm the effective date and terms of the auditor transition from EY to PwC.
- Review Exhibit 99.3, including EY’s concurrence letter.
- Consult the Company’s periodic financial filings for current revenue, cash usage, liquidity, debt, and other financial metrics not included in this Form 6-K.