$FFAI
FARADAY FUTURE INTELLIGENT ELECTRIC INC.
CIK:0001805521|SEC Filings
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Cash flows from operating activities | ||
| Net loss | $ (81,280) | $ (134,954) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 16,106 | 37,308 |
| Amortization of operating lease right-of-use assets | 1,638 | 1,296 |
| Non-cash interest expense | 2,903 | 1,815 |
| Loss on digital assets, net | 2,930 | 0 |
| Loss on disposal of property and equipment, net | 316 | 320 |
| Impairment of assets | 183 | 0 |
| Impairment of intangible assets, including goodwill | 5,701 | 0 |
| Stock-based compensation | (300) | 1,198 |
| Reserve on inventory | 0 | 3,753 |
| Credit loss expense | 143 | 0 |
| Accrued interest on short-term note receivable | (276) | 0 |
| Payments for operating expenses made with digital assets | 338 | 0 |
| Loss on settlement of short-term notes receivable | 376 | 0 |
| Non-cash adjustments to current and non-current assets and liabilities | (5,804) | (295) |
| Change in fair value of notes payable, warrant liabilities, and derivative liabilities | (4,032) | (5,380) |
| Change in fair value of related party notes payable, warrant liabilities, and derivative liabilities | (1,524) | 5,427 |
| Other | (269) | 168 |
| Changes in operating assets and liabilities | ||
| Accounts receivables | (143) | (645) |
| Inventory | 717 | 630 |
| Deposits | (2,289) | (2,331) |
| Accounts payable | (6,415) | (4,059) |
| Operating lease liabilities | (3,786) | (1,977) |
| Other current and non-current assets | 2,655 | 1,566 |
| Net cash used in operating activities | (56,527) | (43,608) |
| Cash flows from investing activities | ||
| Purchase of digital assets | (338) | 0 |
| Sale of digital assets | 2,107 | 0 |
| Payments for property and equipment | (1,667) | (5,007) |
| Proceeds from collections of short-term notes receivable | 100 | 0 |
| Net cash provided (used in) investing activities | 202 | (5,007) |
| Cash flows from financing activities | ||
| Proceeds from other financial obligations | 0 | 4,384 |
| Payments of related party notes payable | (204) | (615) |
| Net cash provided by financing activities | 76,374 | 55,052 |
| Effect of exchange rate changes on cash and restricted cash | (1,118) | (350) |
| Net increase in cash and restricted cash | 18,931 | 6,087 |
| Cash and restricted cash, beginning of period | 34,954 | 7,174 |
| Cash and restricted cash, end of period | 53,885 | 13,261 |
| Cash and restricted cash | ||
| Cash and cash equivalents | 11,196 | 13,228 |
| Restricted cash, current | 12,537 | 33 |
| Restricted cash, non-current | 30,152 | 0 |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents | 53,885 | 13,261 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | 3,067 | 2,818 |
| Cash paid for income taxes | 0 | 0 |
| Supplemental disclosure of noncash investing and financing activities | ||
| Conversion of notes payable and accrued interest into Class A Common Stock | 39,958 | 35,572 |
| Issuance of warrants and related party warrants with the SPA Portfolio Notes | 491 | 32,328 |
| SPA Note issuance costs included in accounts payable and accrued expenses | 0 | 393 |
| Settlement of vendor liability in Class A Common Stock | 1,210 | 2,245 |
| Additions of property and equipment included in accounts payable and accrued expenses | 39,190 | 43,893 |
| Recognition of right-of use assets and liabilities for new leases | 11,475 | 6,229 |
| Nonrelated Party | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Loss on settlement of notes payable | 16,276 | 38,378 |
| Changes in operating assets and liabilities | ||
| Accrued expenses and other current and non-current liabilities | 164 | 11,241 |
| Accrued interest expense | 0 | (96) |
| Cash flows from financing activities | ||
| Proceeds from notes payable, net of original issuance discount | 80,300 | 48,570 |
| Payments of notes payable issuance costs | (3,140) | (1,521) |
| Related Party | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Loss on settlement of notes payable | 0 | 3,040 |
| Changes in operating assets and liabilities | ||
| Accrued expenses and other current and non-current liabilities | (855) | (11) |
| Cash flows from financing activities | ||
| Proceeds from notes payable, net of original issuance discount | 0 | 4,601 |
| Payments of notes payable and other financing obligations | $ (582) | $ (367) |
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
||
|---|---|---|---|---|
| Current assets | ||||
| Cash and cash equivalents | $ 11,196 | $ 34,927 | ||
| Restricted cash, current | 12,537 | 27 | ||
| Digital assets | 5,213 | 10,250 | ||
| Accounts receivable | 400 | 257 | ||
| Notes receivable, net of allowance for credit losses of zero and $4,555 and as of June 30, 2026, and December 31, 2025, respectively | 0 | 343 | ||
| Inventory, net (see Note 4) | 3,185 | 3,258 | ||
| Deposits (see Note 5) | 13,368 | 10,499 | ||
| Other current assets (see Note 5) | 6,241 | 8,963 | ||
| Total current assets | 52,140 | 68,524 | ||
| Restricted cash, non-current | 30,152 | 0 | ||
| Property, plant and equipment, net | 140,026 | 155,303 | ||
| Operating lease right-of-use assets, net | 14,784 | 4,950 | ||
| Intangible assets, net | 554 | 4,639 | ||
| Goodwill | 23,692 | 25,764 | ||
| Other non-current assets (see Notes 4 and 5) | 18,454 | 18,682 | ||
| Total assets | 279,802 | 277,862 | ||
| Current liabilities | ||||
| Accounts payable | 49,444 | 57,277 | ||
| Accrued expenses and other current liabilities | 54,091 | 58,678 | ||
| Other financing liabilities, current portion | 1,063 | 951 | ||
| Operating lease liabilities, current portion | 864 | 1,443 | ||
| Total current liabilities | 135,921 | 148,171 | ||
| Other financing liabilities, long term portion | 48,587 | 46,867 | ||
| Operating lease liabilities, long term portion | 12,383 | 3,471 | ||
| Other liabilities | 1,249 | 2,042 | ||
| Total liabilities | 278,390 | 270,103 | ||
| Commitments and Contingencies (Note 12) | ||||
| Stockholders’ equity (deficit) | ||||
| Preferred stock | 0 | 0 | ||
| Additional paid-in capital | 4,751,694 | 4,673,887 | ||
| Accumulated other comprehensive income | 943 | 3,817 | ||
| Accumulated deficit | (4,779,927) | (4,705,042) | ||
| Total stockholders’ deficit attributable to the Company | (27,290) | (27,338) | ||
| Noncontrolling interest | 28,702 | 35,097 | ||
| Total stockholders' equity | 1,412 | 7,759 | ||
| Total liabilities and stockholders’ equity | 279,802 | 277,862 | ||
| Class A Common Stock | ||||
| Stockholders’ equity (deficit) | ||||
| Common stock | [1] | 0 | 0 | |
| Class B Common Stock | ||||
| Stockholders’ equity (deficit) | ||||
| Common stock | [1] | 0 | 0 | |
| Series B Preferred Stock | ||||
| Stockholders’ equity (deficit) | ||||
| Preferred stock | 0 | 0 | ||
| Nonrelated Party | ||||
| Current liabilities | ||||
| Accrued expenses and other current liabilities | 41,422 | 45,499 | ||
| Warrant liabilities | 768 | 1,950 | ||
| Notes payable, current portion | 27,977 | 4,432 | ||
| Notes payable, long term portion | 71,951 | 56,234 | ||
| Derivative call options | 4,814 | 10,042 | ||
| Related Party | ||||
| Current liabilities | ||||
| Accrued expenses and other current liabilities | 12,669 | 13,179 | ||
| Related party accrued interest | 18 | 19,933 | ||
| Notes payable, current portion | 1,696 | 3,507 | ||
| Notes payable, long term portion | 2,505 | 772 | ||
| Derivative call options | $ 980 | $ 2,504 | ||
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