FARADAY FUTURE INTELLIGENT ELECTRIC INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
FFAI$0.25-9.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $293 | $— | $295 | $— |
| Cost of revenues | 20,970 | 6,613 | 41,657 | 6,613 |
| Gross profit | (20,677) | (6,613) | (41,362) | (6,613) |
| Operating expenses | ||||
| Research and development | 3,317 | 25,269 | 10,005 | 83,077 |
| Sales and marketing | 1,782 | 7,699 | 4,256 | 12,764 |
| General and administrative | 17,201 | 17,062 | 31,049 | 43,575 |
| Lease impairment loss | 7,616 | — | 7,616 | — |
| (Gain)/Loss on disposal on property, plant and equipment | 16 | — | (71) | 3,698 |
| Change in fair value of earnout liability | — | (664) | — | 2,100 |
| Total operating expenses | 29,932 | 49,366 | 52,855 | 145,214 |
| Loss from operations | (50,609) | (55,979) | (94,217) | (151,827) |
| Change in fair value of notes payable and warrant liabilities | (7,245) | 24,324 | 20,640 | 72,459 |
| Change in fair value of related party notes payable and related party warrant liabilities | (332) | 384 | (339) | 384 |
| Loss on settlement of notes payable | (46,978) | (85,392) | (58,381) | (183,528) |
| Loss on related party notes payable | — | (6,492) | (14,295) | (6,492) |
| Interest expense | (1,719) | (209) | (3,944) | (501) |
| Related party interest expense | (1,506) | (70) | (6,600) | (70) |
| Other expense, net | (292) | (1,466) | 238 | (298) |
| Loss before income taxes | (108,681) | (124,900) | (156,898) | (269,873) |
| Income tax provision | (4) | (28) | (4) | (28) |
| Net loss | $(108,685) | $(124,928) | $(156,902) | $(269,901) |
| Net loss per share of Class A and B Common Stock attributable to common stockholders: | ||||
| Basic | $(0.31) | $(25.05) | $(0.74) | $(67.21) |
| Diluted | (0.31) | (25.05) | (0.74) | (67.21) |
| Weighted average shares used in computing net loss per share of Class A and B Common Stock: | ||||
| Basic | 351,128,013 | 4,986,995 | 213,375,206 | 4,015,695 |
| Diluted | 351,128,013 | 4,986,995 | 213,375,206 | 4,015,695 |
| Total comprehensive loss | ||||
| Net loss | $(108,685) | $(124,928) | $(156,902) | $(269,901) |
| Foreign currency translation adjustment | 632 | 6,122 | 864 | 5,567 |
| Total comprehensive loss | $(108,053) | $(118,806) | $(156,038) | $(264,334) |
Unaudited Condensed Consolidated Statements of Stockholders’ Equity
| Common Stock · Additional Paid-in Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders’ Equity | ||||||||
|---|---|---|---|---|---|---|---|---|
| Class A · Class B | ||||||||
| Shares · Amount · Shares · Amount | ||||||||
| Balance as of March 31, 2024 | 159,390,384 | $16 | 266,670 | $— | $4,202,125 | $6,094 | $(4,006,716) | $201,519 |
| Conversion of notes payable and accrued interest into Class A Common Stock (Note 7) | 281,874,242 | 28 | — | — | 55,071 | — | — | 55,099 |
| Stock-based compensation | — | — | — | — | 117 | — | — | 117 |
| Foreign currency translation adjustment | — | — | — | — | — | 632 | — | 632 |
| Net loss | — | — | — | — | — | — | (108,685) | (108,685) |
| Balance as of June 30, 2024 | 441,264,626 | $44 | 266,670 | $— | $4,257,313 | $6,726 | $(4,115,401) | $148,682 |
See accompanying notes to Unaudited Condensed Consolidated Financial Statements.
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