Factorial Energy Inc.
For the period ended Sep 30, 2026. Filed Nov 10, 2026.
View on SEC.govAbout this filing
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.
Sep 30, 2026 · Filed Nov 10, 2026
FAC$4.26-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets (Unaudited)
| As of | ||
|---|---|---|
| September 30, 2026 | December 31, 2025 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $95,436 | $28,891 |
| Receivables under collaboration agreements (includes $13 and $1,000 as related party as of September 30, 2026 and December 31, 2025, respectively) | 1,529 | 1,152 |
| Inventory | 807 | — |
| Deferred transaction costs | — | 1,423 |
| Prepaid expenses and other current assets (includes $720 and $1,110 as related party as of September 30, 2026, and December 31, 2025, respectively) | 4,202 | 1,425 |
| Total current assets | 101,974 | 32,891 |
| Restricted cash | 888 | 881 |
| Property and equipment, net | 22,254 | 21,276 |
| Operating lease right-of-use assets, net | 8,603 | 7,576 |
| Other non-current assets | 533 | — |
| Other non-current assets (related party) | — | 160 |
| Total Assets | $134,252 | $62,784 |
| Liabilities, Redeemable Convertible Preferred Stock & Stockholders’ Equity (Deficit) | ||
| Current liabilities: | ||
| Accounts payable (includes $0 and $190 as related party, as of September 30, 2026, and December 31, 2025, respectively) | $616 | $741 |
| Accrued expenses | 7,706 | 2,981 |
| Deferred revenue | 322 | — |
| Operating lease liabilities, current portion | 1,754 | 1,357 |
| Total current liabilities | 10,398 | 5,079 |
| Operating lease liabilities, net of current portion | 7,841 | 7,180 |
| Convertible promissory notes – related parties, at fair value | — | 18,889 |
| Warrant liabilities for Series B-1 and Series D redeemable convertible preferred stock (includes $2,770 to related parties as of December 31, 2025) | — | 3,378 |
| Warrant liability for Series A Common Stock | 20,604 | — |
| Total liabilities | 38,843 | 34,526 |
| Commitments and contingencies (Note 10) | ||
| Redeemable convertible preferred stock (Note 11): | ||
| Series A-1 redeemable convertible preferred stock, $0.00001 par value; 4,528,900 shares authorized, issued and outstanding as of December 31, 2025. Liquidation preference of $3,000 as of December 31, 2025. | — | 327 |
| Series A-2 redeemable convertible preferred stock, $0.00001 par value; 8,665,524 shares authorized, issued and outstanding as of December 31, 2025. Liquidation preference of $6,000 as of December 31, 2025. | — | 655 |
| Series B-1 redeemable convertible preferred stock, $0.00001 par value; 10,045,799 shares authorized; 9,972,682 shares issued and outstanding as of December 31, 2025, and 2025 Liquidation preference of $22,166 as of December 31, 2025. | — | 2,169 |
| Series C-1 redeemable convertible preferred stock, $0.00001 par value; 13,098,851 shares authorized, issued and outstanding as of December 31, 2025. Liquidation preference of $28,423 as of December 31, 2025. | — | 28,303 |
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Continued)
| As of | ||
|---|---|---|
| September 30, 2026 | December 31, 2025 | |
| Series C-2 redeemable convertible preferred stock, $0.00001 par value; 9,221,245 shares authorized, issued and outstanding as of December 31, 2025. Liquidation preference of $26,857 as of December 31, 2025. | — | 26,013 |
| Series D redeemable convertible preferred stock, $0.00001 par value; 27,974,242 shares authorized; 21,827,755 shares issued and outstanding as of December 31, 2025. Liquidation preference of $202,385 as of December 31, 2025. | — | 192,185 |
| Total redeemable convertible preferred stock | — | 249,652 |
| Stockholders’ equity (deficit): | ||
| Preferred stock, $0.00001 par value, 100,000,000 shares authorized, and no shares issued or outstanding as of September 30, 2026. No shares were authorized, issued, or outstanding as of December 31, 2025. | — | — |
| Series A Common Stock, $0.00001 par value; 600,000,000 and 32,000,000 shares authorized as of September 30, 2026 and December 31, 2025, respectively. 91,547,994 and 2,973,957 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively. | 9 | — |
| Series B Common Stock, $0.00001 par value; 50,000,000 shares authorized as of September 30, 2026. 15,512,742 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively. | 2 | 2 |
| Additional paid-in capital | 361,932 | 34,625 |
| Accumulated deficit | (266,652) | (255,576) |
| Accumulated other comprehensive income (loss) | 118 | (445) |
| Total stockholders’ equity (deficit) | 95,409 | (221,394) |
| Total Liabilities, Redeemable Convertible Preferred Stock & Stockholders’ Equity (Deficit) | $134,252 | $62,784 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.