2021 Q3 Form 10-Q Financial Statement

#000162828022013095 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $43.56M $10.51M $14.03M
YoY Change 210.52%
% of Gross Profit
Research & Development $79.76M $5.480M $3.520M
YoY Change 2165.82%
% of Gross Profit
Depreciation & Amortization $2.221M $470.0K $950.0K
YoY Change 133.79%
% of Gross Profit
Operating Expenses $185.7M $0.00 $17.55M
YoY Change 958.05%
Operating Profit -$185.7M -$17.55M
YoY Change 958.05%
Interest Expense -$1.893M -$406.7K $39.83K
YoY Change -4852.7%
% of Operating Profit
Other Income/Expense, Net $1.117M -$17.89M -$2.260M
YoY Change -149.42%
Pretax Income -$303.9M -$2.482M -$33.34M
YoY Change 811.56%
Income Tax $0.00 $300.00 $0.00
% Of Pretax Income
Net Earnings -$303.9M -$2.482M -$33.34M
YoY Change 811.56%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.005M -$88.25K -$3.511K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $666.1M $549.4K $627.7K
YoY Change 106007.98%
Cash & Equivalents $666.1M $1.124M $5.664M
Short-Term Investments
Other Short-Term Assets $13.25M $6.200M $134.7K
YoY Change 9730.79%
Inventory
Prepaid Expenses $11.49M $40.00K
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $754.6M $14.44M $762.5K
YoY Change 98870.57%
LONG-TERM ASSETS
Property, Plant & Equipment $261.6M $293.9M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $229.8M
YoY Change
Other Assets $7.287M $8.010M $300.00
YoY Change 2428900.0%
Total Long-Term Assets $268.8M $301.9M $229.8M
YoY Change 16.98%
TOTAL ASSETS
Total Short-Term Assets $754.6M $14.44M $762.5K
Total Long-Term Assets $268.8M $301.9M $229.8M
Total Assets $1.023B $316.4M $230.6M
YoY Change 343.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.18M $86.60M
YoY Change
Accrued Expenses $47.34M $52.38M $51.27K
YoY Change 92240.55%
Deferred Revenue $4.229M $3.523M
YoY Change
Short-Term Debt $13.46M $0.00 $0.00
YoY Change
Long-Term Debt Due $107.0M
YoY Change
Total Short-Term Liabilities $238.2M $849.1M $51.27K
YoY Change 464506.98%
LONG-TERM LIABILITIES
Long-Term Debt $135.6M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.129M $1.000M
YoY Change
Total Long-Term Liabilities $4.129M $1.000M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $238.2M $849.1M $51.27K
Total Long-Term Liabilities $4.129M $1.000M $0.00
Total Liabilities $377.9M $895.7M $51.27K
YoY Change 737054.28%
SHAREHOLDERS EQUITY
Retained Earnings -$2.823B -$2.391B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $645.5M -$579.3M -$522.6M
YoY Change
Total Liabilities & Shareholders Equity $1.023B $316.4M $230.6M
YoY Change 343.87%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income -$303.9M -$2.482M -$33.34M
YoY Change 811.56%
Depreciation, Depletion And Amortization $2.221M $470.0K $950.0K
YoY Change 133.79%
Cash From Operating Activities -$185.6M -$78.33K -$226.2K
YoY Change 81933.07%
INVESTING ACTIVITIES
Capital Expenditures -$35.88M $20.00K $490.0K
YoY Change -7422.04%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$229.8M
YoY Change
Cash From Investing Activities -$35.88M $0.00 -$229.8M
YoY Change -84.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $206.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 855.5M 0.000 230.6M
YoY Change 270.98%
NET CHANGE
Cash From Operating Activities -185.6M -78.33K -226.2K
Cash From Investing Activities -35.88M 0.000 -229.8M
Cash From Financing Activities 855.5M 0.000 230.6M
Net Change In Cash 634.0M -78.33K 593.1K
YoY Change 106801.99%
FREE CASH FLOW
Cash From Operating Activities -$185.6M -$78.33K -$226.2K
Capital Expenditures -$35.88M $20.00K $490.0K
Free Cash Flow -$149.7M -$98.33K -$716.2K
YoY Change 20800.15%

Facts In Submission

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1392000 USD
us-gaap Net Income Loss
NetIncomeLoss
-89136000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
-522603000 USD
us-gaap Net Income Loss
NetIncomeLoss
-432206000 USD
us-gaap Net Income Loss
NetIncomeLoss
-89136000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4268000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3046000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8521000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7066000 USD
ffie Vesting Of Restricted Stock Awards For Employee Bonus
VestingOfRestrictedStockAwardsForEmployeeBonus
14620000 USD
ffie Vesting Of Restricted Stock Awards For Employee Bonus
VestingOfRestrictedStockAwardsForEmployeeBonus
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-62987000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0 USD
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-206000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1823000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3234000 USD
ffie Gain Loss From Write Off Of Accounts Payable
GainLossFromWriteOffOfAccountsPayable
4191000 USD
ffie Gain Loss From Write Off Of Accounts Payable
GainLossFromWriteOffOfAccountsPayable
0 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
36478000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
47920000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-96036000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
295000 USD
ffie Gain On Forgiveness Of Vendor Payables In Trust
GainOnForgivenessOfVendorPayablesInTrust
1731000 USD
ffie Gain On Forgiveness Of Vendor Payables In Trust
GainOnForgivenessOfVendorPayablesInTrust
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6404000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
35796000 USD
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
7075000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3186000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
45000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
15260000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1984000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-40434000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
11713000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5874000 USD
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4041000 USD
ffie Transfer Of Vendor Payable In Trust To Accounts Payable Transfer Of Accounts Payable To Vendor Payable In Trust
TransferOfVendorPayableInTrustToAccountsPayableTransferOfAccountsPayableToVendorPayableInTrust
1167000 USD
ffie Transfer Of Vendor Payable In Trust To Accounts Payable Transfer Of Accounts Payable To Vendor Payable In Trust
TransferOfVendorPayableInTrustToAccountsPayableTransferOfAccountsPayableToVendorPayableInTrust
-134000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-237878000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27531000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
3600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37264000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
589000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37264000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3011000 USD
ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
229583000 USD
ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
761400000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
ffie Payments Of Reverse Recapitalization Transaction Costs Acquisition
PaymentsOfReverseRecapitalizationTransactionCostsAcquisition
23148000 USD
ffie Payments Of Reverse Recapitalization Transaction Costs Acquisition
PaymentsOfReverseRecapitalizationTransactionCostsAcquisition
0 USD
ffie Payments Of Reverse Recapitalization Transaction Costs Pipe Financing
PaymentsOfReverseRecapitalizationTransactionCostsPIPEFinancing
61130000 USD
ffie Payments Of Reverse Recapitalization Transaction Costs Pipe Financing
PaymentsOfReverseRecapitalizationTransactionCostsPIPEFinancing
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
200000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
10132000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
172031000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
25621000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
38217000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
48210000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3355000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2554000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
27722000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
2231000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2691000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1806000 USD
ffie Transfer Of Vendor Payable In Trust To Accounts Payable Transfer Of Accounts Payable To Vendor Payable In Trust Financing Activity
TransferOfVendorPayableInTrustToAccountsPayableTransferOfAccountsPayableToVendorPayableInTrustFinancingActivity
-1167000 USD
ffie Transfer Of Vendor Payable In Trust To Accounts Payable Transfer Of Accounts Payable To Vendor Payable In Trust Financing Activity
TransferOfVendorPayableInTrustToAccountsPayableTransferOfAccountsPayableToVendorPayableInTrustFinancingActivity
134000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10492000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
31000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1071000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
966995000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28327000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2536000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-784000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
689317000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3023000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1827000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3354000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
691144000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6377000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1124000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2221000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
703000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1133000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1827000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3354000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
666061000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5664000 USD
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25083000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
713000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
691144000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6377000 USD
ffie Conversion Of Related Party Notes Payable And Related Party Accrued Interest To Equity
ConversionOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquity
294796000 USD
ffie Conversion Of Related Party Notes Payable And Related Party Accrued Interest To Equity
ConversionOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquity
0 USD
ffie Conversion Of Notes Payable And Accrued Interest To Equity
ConversionOfNotesPayableAndAccruedInterestToEquity
98375000 USD
ffie Conversion Of Notes Payable And Accrued Interest To Equity
ConversionOfNotesPayableAndAccruedInterestToEquity
0 USD
ffie Warrants Issued
WarrantsIssued
17596000 USD
ffie Warrants Issued
WarrantsIssued
490000 USD
ffie Conversion Of Assumed Convertible And Promissory Notes Payable To Class A Common Stock And Private Warrants
ConversionOfAssumedConvertibleAndPromissoryNotesPayableToClassACommonStockAndPrivateWarrants
1080000 USD
ffie Conversion Of Assumed Convertible And Promissory Notes Payable To Class A Common Stock And Private Warrants
ConversionOfAssumedConvertibleAndPromissoryNotesPayableToClassACommonStockAndPrivateWarrants
0 USD
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
2863000 USD
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
270000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
491000 USD
ffie Conversion Of Customer Deposit To Notes Payable
ConversionOfCustomerDepositToNotesPayable
0 USD
ffie Conversion Of Customer Deposit To Notes Payable
ConversionOfCustomerDepositToNotesPayable
11635000 USD
ffie Settlement Of Notes Payable And Accrued Interest To Equity Related To Acquisition
SettlementOfNotesPayableAndAccruedInterestToEquityRelatedToAcquisition
68541000 USD
ffie Settlement Of Notes Payable And Accrued Interest To Equity Related To Acquisition
SettlementOfNotesPayableAndAccruedInterestToEquityRelatedToAcquisition
0 USD
ffie Settlement Of Related Party Notes Payable And Related Party Accrued Interest To Equity Related To Acquisition
SettlementOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquityRelatedToAcquisition
69218000 USD
ffie Settlement Of Related Party Notes Payable And Related Party Accrued Interest To Equity Related To Acquisition
SettlementOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquityRelatedToAcquisition
0 USD
ffie Settlement Of Vendor Payable In Trust To Class A Common Stock
SettlementOfVendorPayableInTrustToClassACommonStock
96186000 USD
ffie Settlement Of Vendor Payable In Trust To Class A Common Stock
SettlementOfVendorPayableInTrustToClassACommonStock
0 USD
ffie Settlement Of Accounts Payable To Common Stock
SettlementOfAccountsPayableToCommonStock
2879000 USD
ffie Settlement Of Accounts Payable To Common Stock
SettlementOfAccountsPayableToCommonStock
0 USD
ffie Application Of Deferred Issuance Incurred In Prior Periods Costs To Apic
ApplicationOfDeferredIssuanceIncurredInPriorPeriodsCostsToAPIC
7865000 USD
ffie Application Of Deferred Issuance Incurred In Prior Periods Costs To Apic
ApplicationOfDeferredIssuanceIncurredInPriorPeriodsCostsToAPIC
0 USD
us-gaap Interest Paid Net
InterestPaidNet
5837000 USD
us-gaap Interest Paid Net
InterestPaidNet
63000 USD
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction Portion To Pay For Transaction Costs
ProceedsFromReverseRecapitalizationTransactionPortionToPayForTransactionCosts
84278000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements. Estimates are based on historical experience, where applicable, and other assumptions which management believes are reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, including those related to: (i) realization of tax assets and estimates of tax liabilities; (ii) valuation of equity securities; (iii) recognition and disclosure of contingent liabilities, including litigation reserves; (iv) fair value of related party notes payable and notes payable; (v) estimated useful lives and impairment of long-lived assets; (vi) fair </span></div>value of options granted to employees and non-employees; and (vii) fair value of warrants. Such estimates often require the selection of appropriate valuation methodologies and financial models and may involve significant judgment in evaluating ranges of assumptions and financial inputs. Actual results may differ from those estimates under different assumptions, financial inputs, or circumstances. Given the global economic climate, unpredictable nature, and unknown duration of the COVID-19 pandemic, estimates are subject to additional volatility.As of the date the Company’s unaudited Condensed Consolidated Financial Statements were issued, the Company is not aware of any specific event or circumstance that would require it to update its estimates or judgments or to revise the carrying value of its assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods. While the Company considered the effects of COVID-19 on its estimates and assumptions, due to the level of uncertainty regarding the economic and operational impacts of COVID-19 on the Company’s business, there may be other judgments and assumptions that the Company has not considered. Such judgments and assumptions could result in a material impact on the Company’s financial statements in future periods. Actual results could differ from those estimates and any such differences may have a material impact on the Company’s Consolidated Financial Statements.
ffie Going Concern Period
GoingConcernPeriod
P1Y
ffie Going Concern Period
GoingConcernPeriod
P1Y
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2823345000 USD
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction Gross
ProceedsFromReverseRecapitalizationTransactionGross
990983000 USD
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction Portion For Settlement Of Certain Liabilities
ProceedsFromReverseRecapitalizationTransactionPortionForSettlementOfCertainLiabilities
139557000 USD
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction Remaining Portion For Ongoing Business Operations
ProceedsFromReverseRecapitalizationTransactionRemainingPortionForOngoingBusinessOperations
767148000 USD
CY2021Q3 ffie Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.14130
CY2021Q3 ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
229583000 USD
CY2021Q3 ffie Cash Acquired Through Reverse Recapitalization Net
CashAcquiredThroughReverseRecapitalizationNet
206435000 USD
CY2021Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
206000 USD
CY2021Q3 ffie Conversion Of Stock Conversion Ratio
ConversionOfStockConversionRatio
1
CY2021Q3 ffie Reverse Recapitalization Contingent Consideration Equity Number Of Tranches
ReverseRecapitalizationContingentConsiderationEquityNumberOfTranches
2 tranche
CY2021Q3 ffie Stockholders Equity Contingently Issuable Common Stock
StockholdersEquityContingentlyIssuableCommonStock
293853000 USD
CY2021Q3 ffie Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Acquired From Acquisition
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredFromAcquisition
2152000 USD
CY2021Q3 ffie Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Acquired From Acquisition
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredFromAcquisition
1153000 USD
CY2021Q3 ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
229583000 USD
CY2021Q3 us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
36000 USD
CY2021Q3 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
225000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Accrued Transaction Costs
NoncashOrPartNoncashAcquisitionAccruedTransactionCosts
5108000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Transaction Costs Assumed
NoncashOrPartNoncashAcquisitionTransactionCostsAssumed
18040000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Related Party Notes Payable Assumed
NoncashOrPartNoncashAcquisitionRelatedPartyNotesPayableAssumed
1080000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Warrant Liability Assumed
NoncashOrPartNoncashAcquisitionWarrantLiabilityAssumed
2152000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Reverse Recapitalization Net
ReverseRecapitalizationNet
170114000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
42193512 shares
CY2021Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
761400000 USD
CY2021Q3 ffie Repayment Of Liabilities For Reverse Recapitalization
RepaymentOfLiabilitiesForReverseRecapitalization
139557000 USD
CY2021Q3 us-gaap Notes Payable
NotesPayable
85202000 USD
CY2021Q3 ffie Notes Payable Accrued Interest
NotesPayableAccruedInterest
7435000 USD
CY2021Q3 us-gaap Convertible Debt
ConvertibleDebt
124671000 USD
CY2021Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
102950000 USD
CY2021Q3 ffie Purchase Orders Payable
PurchaseOrdersPayable
8380000 USD
CY2021Q3 ffie Purchase Orders Payable Accrued Interest
PurchaseOrdersPayableAccruedInterest
13341000 USD
CY2021Q3 ffie Vendor Payable
VendorPayable
19791000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
9592000 USD
CY2021Q3 ffie Gain Loss On Extinguishment Of Debt Excluding Forgiveness Of Vendor Interest
GainLossOnExtinguishmentOfDebtExcludingForgivenessOfVendorInterest
94727000 USD
CY2021Q3 ffie Stock Converted Reverse Recapitalization
StockConvertedReverseRecapitalization
160637633 shares
CY2021Q3 ffie Stock Issued During Period Shares New Issues From Reverse Recapitalization
StockIssuedDuringPeriodSharesNewIssuesFromReverseRecapitalization
27798411 shares
CY2021Q3 ffie Stock Issued During Period Shares Conversion Of Assumed Securities
StockIssuedDuringPeriodSharesConversionOfAssumedSecurities
80000 shares
CY2021Q3 ffie Total Note Conversion And Share Issuance Pursuant To The Reverse Recapitalization
TotalNoteConversionAndShareIssuancePursuantToTheReverseRecapitalization
188516044 shares
CY2021Q3 ffie Stock Issued During Period Shares Conversion Of Liabilities Related To Reverse Recapitalization
StockIssuedDuringPeriodSharesConversionOfLiabilitiesRelatedToReverseRecapitalization
24464994 shares
CY2021Q3 ffie Stock Issued During Period Shares Reverse Recapitalization
StockIssuedDuringPeriodSharesReverseRecapitalization
244293395 shares
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
76140000 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
320433395 shares
CY2021Q3 ffie Reverse Recapitalization Net Of Excess Fair Value And Transaction Costs
ReverseRecapitalizationNetOfExcessFairValueAndTransactionCosts
170114000 USD
CY2021Q3 ffie Temporary Equity Converted Reverse Recapitalization Value
TemporaryEquityConvertedReverseRecapitalizationValue
1815637000 USD
CY2021Q3 ffie Debt Instrument Debt Settlement Amount
DebtInstrumentDebtSettlementAmount
800000 USD
CY2021Q3 ffie Stock Issued During Period Shares Conversion Of Assumed Securities
StockIssuedDuringPeriodSharesConversionOfAssumedSecurities
80000 shares
CY2021Q3 ffie Debt Instrument Debt Settlement Amount
DebtInstrumentDebtSettlementAmount
800000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Gross
PaymentsOfReverseRecapitalizationTransactionCostsGross
125943000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Expensed As Part Of Acquisition
PaymentsOfReverseRecapitalizationTransactionCostsExpensedAsPartOfAcquisition
900000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Equity Issuance Costs
PaymentsOfReverseRecapitalizationTransactionCostsEquityIssuanceCosts
125043000 USD
CY2021Q3 ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
229583000 USD
CY2021Q3 ffie Payment Of Reverse Recapitalization Transaction Costs
PaymentOfReverseRecapitalizationTransactionCosts
23148000 USD
CY2021Q3 ffie Cash Acquired Through Reverse Recapitalization Net
CashAcquiredThroughReverseRecapitalizationNet
206435000 USD
CY2021Q3 ffie Reverse Recapitalization Net Exclusive Of Cash And Accrued Transaction Costs
ReverseRecapitalizationNetExclusiveOfCashAndAccruedTransactionCosts
-3421000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Reverse Recapitalization Net
ReverseRecapitalizationNet
170114000 USD
CY2021Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
761400000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Pipe Financing
PaymentsOfReverseRecapitalizationTransactionCostsPIPEFinancing
61130000 USD
CY2021Q3 ffie Reclassification Of Deferred Transaction Costs Paid In Prior Periods Against Proceeds Received In The Business Combination
ReclassificationOfDeferredTransactionCostsPaidInPriorPeriodsAgainstProceedsReceivedInTheBusinessCombination
7865000 USD
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
692405000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Acquisition
PaymentsOfReverseRecapitalizationTransactionCostsAcquisition
23148000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs Pipe Financing
PaymentsOfReverseRecapitalizationTransactionCostsPIPEFinancing
61130000 USD
CY2021Q3 ffie Reclassification Of Deferred Transaction Costs Paid In Prior Periods Against Proceeds Received In The Business Combination
ReclassificationOfDeferredTransactionCostsPaidInPriorPeriodsAgainstProceedsReceivedInTheBusinessCombination
7865000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Obligation To Issue Registered Shares
NoncashOrPartNoncashAcquisitionObligationToIssueRegisteredShares
32900000 USD
CY2021Q3 ffie Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
125043000 USD
ffie Deposit Assets For Research And Development Prototype Parts And Other Additions
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOtherAdditions
35796000 USD
CY2021Q3 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
41841000 USD
CY2020Q4 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
6412000 USD
CY2021Q3 ffie Deposit For Future Work
DepositForFutureWork
8380000 USD
CY2020Q4 ffie Deposit For Future Work
DepositForFutureWork
0 USD
CY2021Q3 us-gaap Deposits Assets Current
DepositsAssetsCurrent
50221000 USD
CY2020Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
6412000 USD
CY2021Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11489000 USD
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
762000 USD
CY2021Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1757000 USD
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3364000 USD
CY2021Q3 ffie Notes Receivable Current
NotesReceivableCurrent
0 USD
CY2020Q4 ffie Notes Receivable Current
NotesReceivableCurrent
40000 USD
CY2021Q3 us-gaap Due From Affiliate Current
DueFromAffiliateCurrent
0 USD
ffie Deposit Assets For Research And Development Prototype Parts And Other Write Off
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOtherWriteOff
367000 USD
CY2021Q3 ffie Deposit For Future Work
DepositForFutureWork
8380000 USD
CY2020Q4 us-gaap Due From Affiliate Current
DueFromAffiliateCurrent
2034000 USD
CY2021Q3 us-gaap Other Assets Current
OtherAssetsCurrent
13246000 USD
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
6200000 USD
CY2021Q3 ffie Received Tooling Machinery And Equipment
ReceivedToolingMachineryAndEquipment
0 USD
CY2020Q4 ffie Received Tooling Machinery And Equipment
ReceivedToolingMachineryAndEquipment
0 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21121000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19067000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
261562000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
293933000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37264000 USD
CY2021Q3 us-gaap Disposal Group Not Discontinued Operation Loss Gain On Write Down
DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown
62342000 USD
us-gaap Disposal Group Not Discontinued Operation Loss Gain On Write Down
DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown
62987000 USD
ffie Disposal Of Capital Expenditures Incurred But Not Yet Paid
DisposalOfCapitalExpendituresIncurredButNotYetPaid
7864000 USD
CY2021Q3 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2974000 USD
CY2021Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
659000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
2529000 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
942000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
3046000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12291000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19180000 USD
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
13730000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5025000 USD
CY2021Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
3500000 USD
CY2020Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
4396000 USD
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4229000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3523000 USD
CY2021Q3 us-gaap Due To Affiliate Current
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6416000 USD
CY2020Q4 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
5123000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7177000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15135000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
47343000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
52382000 USD
CY2021Q3 ffie Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Acquired From Acquisition
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredFromAcquisition
2152000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Related Party Promissory Notes Assumed
NoncashOrPartNoncashAcquisitionRelatedPartyPromissoryNotesAssumed
500000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Related Party Convertible Notes Assumed
NoncashOrPartNoncashAcquisitionRelatedPartyConvertibleNotesAssumed
300000 USD
CY2021Q3 ffie Noncash Or Part Noncash Acquisition Related Party Promissory Notes Assumed Fair Value
NoncashOrPartNoncashAcquisitionRelatedPartyPromissoryNotesAssumedFairValue
580000 USD
CY2021Q3 ffie Debt Instrument Debt Settlement Amount
DebtInstrumentDebtSettlementAmount
800000 USD
CY2021Q3 us-gaap Notes Payable Current
NotesPayableCurrent
103505000 USD
CY2021Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
99618000 USD
CY2021Q3 us-gaap Notes Payable
NotesPayable
203123000 USD
CY2021Q3 ffie Deposit For Future Work
DepositForFutureWork
8380000 USD
CY2021Q3 ffie Vendor To Cancel The Vendors Interests In The Vendor Trust Aggregating
VendorToCancelTheVendorsInterestsInTheVendorTrustAggregating
1167000 USD
CY2021Q3 ffie Deposit For Future Work
DepositForFutureWork
8380000 USD
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
13730000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
6025000 USD
CY2021Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
5 claim
CY2021Q3 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
13730000 USD
CY2020Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
4 claim
CY2020Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
5025000 USD
CY2020Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
1000000 USD
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q3 ffie Shares Authorized
SharesAuthorized
835000000 shares
CY2021Q3 us-gaap Shares Issued
SharesIssued
134795128 shares
CY2021Q3 ffie Shares To Be Issued
SharesToBeIssued
185638267 shares
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q4 ffie Preferred Stock Shares To Be Issued
PreferredStockSharesToBeIssued
0 shares
CY2020Q4 ffie Shares Authorized
SharesAuthorized
835000000 shares
CY2020Q4 us-gaap Shares Issued
SharesIssued
157100184 shares
CY2020Q4 ffie Shares To Be Issued
SharesToBeIssued
0 shares
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q3 ffie Preferred Stock Voting Rights Threshold
PreferredStockVotingRightsThreshold
1 vote
CY2021Q3 ffie Common Stock Voting Rights Number Of Consecutive Trading Days For Qualifying Event
CommonStockVotingRightsNumberOfConsecutiveTradingDaysForQualifyingEvent
20 trading_day
CY2021Q3 ffie Common Stock Voting Rights Weighted Average Equity Market Capitalization Threshold
CommonStockVotingRightsWeightedAverageEquityMarketCapitalizationThreshold
20000000000 USD
CY2021Q3 ffie Repayment Of Liabilities For Reverse Recapitalization
RepaymentOfLiabilitiesForReverseRecapitalization
139557000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5053000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3415000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8521000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7066000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
80236847 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33077239 shares

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