FARADAY FUTURE INTELLIGENT ELECTRIC INC.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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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Consolidated Statements of Cash Flows for the years ended
(in thousands)
| 2024 | 2023 | |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | $(355,847) | $(431,744) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 71,442 | 42,473 |
| Amortization of operating lease right-of-use assets and intangible assets | 2,588 | 2,992 |
| Non-cash interest expense | 1,929 | — |
| Stock-based compensation | 8,382 | 9,167 |
| Reserve on inventory | 476 | — |
| Loss on disposal on property, plant, and equipment | 1,667 | 4,453 |
| Loss from failed sale leaseback arrangement | — | 5,173 |
| Loss on lease impairment | 1,847 | — |
| Loss on settlement of notes payable | 161,725 | 217,019 |
| Loss on settlement of related party notes payable | 14,295 | 20,045 |
| Gain on foreign exchange | — | (2,068) |
| Gain on settlement on accrued research and development expenses | (14,935) | — |
| Change in fair value of notes payable, warrant liabilities, and derivative call options | 15,058 | (90,518) |
| Change in fair value of related party notes payable and related party warrant liabilities | (253) | (7,101) |
| Other | 963 | 1,075 |
| Changes in operating assets and liabilities: | ||
| Deposits | (706) | 14,337 |
| Inventory | 6,267 | (29,772) |
| Other current and non-current assets | 16,907 | (2,884) |
| Accounts payable | (8,804) | 13,785 |
| Accrued expenses and other current and non-current liabilities | (1,573) | (42,481) |
| Accrued interest expense | — | 588 |
| Accrued related party interest expense | 8,710 | — |
| Financial obligations on lease back transaction | 2,876 | — |
| Operating lease liabilities | (3,200) | (2,717) |
| Net cash used in operating activities | (70,186) | (278,178) |
| Cash flows from investing activities | ||
| Proceeds from the sale of equipment | 198 | — |
| Payments for property and equipment | (7,580) | (31,109) |
| Net cash used in investing activities | (7,382) | (31,109) |
| Cash flows from financing activities | ||
| Proceeds from notes payable, net of original issuance discount | 68,111 | 210,450 |
| Payments of notes payable and other financing obligations | (428) | — |
| Payments of notes payable issuance costs | (2,087) | (2,503) |
| Proceeds from related party notes payable | 3,075 | 21,008 |
| Capital contributions | 250 | — |
| Proceeds from other financial obligations | 11,812 | 24,897 |
| Payments of finance lease obligations | — | (1,016) |
| Proceeds from exercise of stock options | — | 44 |
| Proceeds from exercise of warrants | — | 4,074 |
| Proceeds from issuance of Class A Common Stock | — | 34,492 |
| Net cash (used in) provided by financing activities | 80,733 | 291,446 |
| Effect of exchange rate changes on cash and restricted cash | (16) | 3,352 |
| Net (decrease) increase in cash and restricted cash | 3,149 | (14,489) |
| Cash and restricted cash, beginning of period | 4,025 | 18,514 |
| Cash and restricted cash, end of period | $7,174 | $4,025 |
(in thousands)
The following table provides a reconciliation of cash and restricted cash reported within the Consolidated Balance Sheets
that aggregate to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:
| 2024 | 2023 | |
|---|---|---|
| Cash and restricted cash | ||
| Cash | $7,144 | $1,898 |
| Restricted cash | 30 | 2,127 |
| $7,174 | $4,025 | |
| Supplemental disclosure of cash flow information | ||
|---|---|---|
| Cash paid for interest | $4,865 | $465 |
| Supplemental disclosure of noncash investing and financing activities | ||
| Additions of property and equipment included in accounts payable and accrued expenses | $44,540 | $48,037 |
| Write off of a finance lease pursuant to lease back transaction | $— | $6,917 |
| Obtaining right-of-use asset in exchange for operating lease liabilities | $30 | $— |
| Issuance of Class A Common Stock under the Salary Deduction and Stock Purchase Agreements | $102 | $— |
| Shares Withheld for RSU tax obligations | $10 | $— |
| Issuance of Exchange Note | $— | $16,500 |
| Conversion of notes payable, related party notes payable and accrued interest into Class A Common Stock | $67,113 | $123,460 |
| Conversion of related party notes payable and related party accrued interest into Class A Common Stock | $— | $12,662 |
| Reclassification of August 25, 2023 stock-based awards liability to equity due to authorized share increase | $— | $2,043 |
| Reclassification of stock-based awards from equity to liability on April 21, 2023 due to insufficient authorized shares | $— | $2,979 |
| Reclassification of February 28, 2023 stock-based awards liability to equity due to authorized share increase | $— | $8,978 |
| Issuance of warrants with the SPA Portfolio Notes | $34,440 | $34,269 |
| Reduction in warrants pursuant to the Exchange Agreement | $— | $16,506 |
| Reclassification of warrants from equity to liability | $— | $6,811 |
| Reclassification of August 25, 2023 earnout shares liability to equity due to authorized share increase | $— | $1,381 |
| Reclassification of earnout shares from equity to liability on April 21, 2023 due to insufficient authorized shares | $— | $2,112 |
| Reclassification of February 28, 2023 earnout shares liability to equity due to authorized share increase | $— | $5,014 |
| De-recognition of right-of-use assets and lease liabilities due to lease modifications | $3,394 | $— |
| Supplemental disclosure of noncash operating activities | ||
| Settlement of Palantir dispute with issuance of Class A Common Stock | $4,800 | $— |
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