2022 Q2 Form 10-Q Financial Statement

#000162828022022896 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $39.45M $34.07M $39.78M
YoY Change 107.47% 168.77% 278.46%
% of Gross Profit
Research & Development $98.02M $114.9M $80.43M
YoY Change 1030.12% 1610.09% 1367.68%
% of Gross Profit
Depreciation & Amortization $4.993M $4.853M $3.890M
YoY Change 143.92% 391.19% 727.66%
% of Gross Profit
Operating Expenses $137.5M $149.0M $120.2M
YoY Change 396.48% 668.2%
Operating Profit -$137.5M -$149.0M
YoY Change 396.48% 668.2%
Interest Expense -$2.441M -$4.368M -$4.529M
YoY Change -80.94% -84.9% 1013.68%
% of Operating Profit
Other Income/Expense, Net -$6.936M -$915.0K $32.74M
YoY Change 346.91% 223.32% -283.03%
Pretax Income -$141.7M -$153.1M -$84.06M
YoY Change 168.47% 102.72% 3286.73%
Income Tax $9.000K $0.00 $237.0K
% Of Pretax Income
Net Earnings -$141.7M -$153.1M -$84.30M
YoY Change 168.49% 102.71% 3295.87%
Net Earnings / Revenue
Basic Earnings Per Share -$0.48
Diluted Earnings Per Share -$439.1K -$475.1K -$278.9K
COMMON SHARES
Basic Shares Outstanding 322.2M shares
Diluted Shares Outstanding 322.2M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.6M $276.4M $505.1M
YoY Change 129.57% 125524.55% 91835.02%
Cash & Equivalents $120.6M $276.4M $505.1M
Short-Term Investments
Other Short-Term Assets $5.985M $8.608M $13.41M
YoY Change -65.56% 5280.0% 116.29%
Inventory
Prepaid Expenses $2.881M $6.010M $11.12M
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $175.1M $341.6M $607.3M
YoY Change 150.49% 89803.42% 4105.67%
LONG-TERM ASSETS
Property, Plant & Equipment $387.1M $338.9M $293.1M
YoY Change 34.53% -0.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.707M $6.853M $7.040M
YoY Change -42.91% -97.02% -12.11%
Total Long-Term Assets $413.1M $364.4M $300.2M
YoY Change 37.96% 58.6% -0.59%
TOTAL ASSETS
Total Short-Term Assets $175.1M $341.6M $607.3M
Total Long-Term Assets $413.1M $364.4M $300.2M
Total Assets $588.2M $706.1M $907.4M
YoY Change 59.25% 206.77% 186.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.79M $45.40M $37.77M
YoY Change -8.44% -56.38%
Accrued Expenses $92.39M $86.77M $90.51M
YoY Change -32.77% 4260.1% 72.79%
Deferred Revenue $3.975M $4.226M $4.354M
YoY Change 23.59%
Short-Term Debt $14.98M $15.75M $13.66M
YoY Change -92.79% 3049.8%
Long-Term Debt Due $75.40M $81.15M $134.9M
YoY Change -74.81%
Total Short-Term Liabilities $257.7M $242.8M $293.8M
YoY Change -69.32% 9650.28% -65.4%
LONG-TERM LIABILITIES
Long-Term Debt $7.295M $7.390M $42.25M
YoY Change -90.17%
Other Long-Term Liabilities $3.609M $3.785M $3.720M
YoY Change -54.2% 138.05% 272.0%
Total Long-Term Liabilities $3.609M $3.785M $3.720M
YoY Change -95.6% 138.05% 272.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $257.7M $242.8M $293.8M
Total Long-Term Liabilities $3.609M $3.785M $3.720M
Total Liabilities $286.8M $270.8M $339.8M
YoY Change -68.89% 6522.05% -62.07%
SHAREHOLDERS EQUITY
Retained Earnings -$3.219B -$3.078B -$2.908B
YoY Change 21.6%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $268.5M $402.3M $567.7M
YoY Change
Total Liabilities & Shareholders Equity $588.2M $706.1M $907.4M
YoY Change 59.25% 206.77% 186.82%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$141.7M -$153.1M -$84.30M
YoY Change 168.49% 102.71% 3295.87%
Depreciation, Depletion And Amortization $4.993M $4.853M $3.890M
YoY Change 143.92% 391.19% 727.66%
Cash From Operating Activities -$112.7M -$122.4M -$101.9M
YoY Change 119.55% 502.21% 129974.05%
INVESTING ACTIVITIES
Capital Expenditures -$45.84M $44.40M -$58.42M
YoY Change 3207.07% 6144.44% -292185.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$45.84M -$44.40M -$58.42M
YoY Change 2923.48% 6144.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -164.0K -$85.68M -426.0K
YoY Change -100.15% -217.37%
NET CHANGE
Cash From Operating Activities -112.7M -$122.4M -101.9M
Cash From Investing Activities -45.84M -$44.40M -58.42M
Cash From Financing Activities -164.0K -$85.68M -426.0K
Net Change In Cash -158.7M -$253.1M -160.7M
YoY Change -372.95% -592.21% 205095.97%
FREE CASH FLOW
Cash From Operating Activities -$112.7M -$122.4M -$101.9M
Capital Expenditures -$45.84M $44.40M -$58.42M
Free Cash Flow -$66.90M -$166.8M -$43.47M
YoY Change 33.9% 692.97% 44108.28%

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ffie Gain Loss From Write Off Of Accounts Payable
GainLossFromWriteOffOfAccountsPayable
862000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
4609000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
37938000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1309000 usd
ffie Gain On Forgiveness Of Vendor Payables In Trust
GainOnForgivenessOfVendorPayablesInTrust
0 usd
ffie Gain On Forgiveness Of Vendor Payables In Trust
GainOnForgivenessOfVendorPayablesInTrust
1731000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-216000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-11104000 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-733000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2048000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-312000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
24403000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-15206000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
12785000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
11510000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1678000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-9856000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-235104000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-52311000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
90234000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1386000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-90234000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1386000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
200000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
111740000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1528000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
87258000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3355000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
936000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2212000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2354000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7751000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1071000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-85840000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
111525000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2235000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1407000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-408943000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
56421000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
530477000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1827000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121534000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58248000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
505091000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1124000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25386000 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
703000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
530477000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1827000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
120585000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
52527000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
949000 usd
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5721000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121534000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58248000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9991000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7331000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
939000 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
2863000 usd
ffie Debt Conversion Converted To Common Shares Amount
DebtConversionConvertedToCommonSharesAmount
0 usd
ffie Debt Conversion Converted To Common Shares Amount
DebtConversionConvertedToCommonSharesAmount
134359000 usd
us-gaap Interest Paid Net
InterestPaidNet
12937000 usd
us-gaap Interest Paid Net
InterestPaidNet
6584000 usd
CY2021Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
761400000 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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%">Reclassification</span></div><div style="margin-bottom:9pt;margin-top:9pt;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 Company reclassified certain amounts in the Condensed Consolidated Financial Statements to conform to the current period's presentation.</span></div>
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-bottom:9pt;margin-top:9pt;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 the 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 the: (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 value of options granted to employees and non-employees; (vii) fair value of warrants, and (viii) incremental borrowing rate used to measure operating lease liabilities. 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.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 condensed 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 these estimates and any such differences may have a material impact on the Company’s Condensed Consolidated Financial Statements.</span></div>
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000 usd
ffie Going Concern Period
GoingConcernPeriod
P1Y
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
120585000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3219308000 usd
CY2021Q3 ffie Proceeds From Reverse Recapitalization Transaction Gross
ProceedsFromReverseRecapitalizationTransactionGross
990983000 usd
CY2022Q2 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
41402000 usd
CY2021Q4 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
54990000 usd
CY2022Q2 ffie Deposit For Future Work
DepositForFutureWork
6190000 usd
CY2021Q4 ffie Deposit For Future Work
DepositForFutureWork
8380000 usd
CY2022Q2 us-gaap Deposits Assets Current
DepositsAssetsCurrent
47592000 usd
CY2021Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
63370000 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2881000 usd
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11119000 usd
CY2022Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3104000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2291000 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
5985000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
13410000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10537000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9678000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
387075000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
293135000 usd
CY2022Q2 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
830000 usd
CY2021Q2 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
529000 usd
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
1620000 usd
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
1058000 usd
CY2022Q2 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
6621000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
29770000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21752000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
14808000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
16881000 usd
CY2022Q2 ffie Engineering Design And Testing Service Received Not Invoiced
EngineeringDesignAndTestingServiceReceivedNotInvoiced
14140000 usd
CY2021Q4 ffie Engineering Design And Testing Service Received Not Invoiced
EngineeringDesignAndTestingServiceReceivedNotInvoiced
6620000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3975000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4354000 usd
CY2021Q4 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
6673000 usd
CY2022Q2 ffie Obligation To Issue Registered Shares
ObligationToIssueRegisteredShares
0 usd
CY2021Q4 ffie Obligation To Issue Registered Shares
ObligationToIssueRegisteredShares
12635000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23078000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21597000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
92392000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
90512000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
12635000 usd
CY2022Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022Q2 us-gaap Lessee Finance Lease Renewal Term1
LesseeFinanceLeaseRenewalTerm1
P5Y
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
91000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
182000 usd
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
173000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
351000 usd
CY2022Q2 ffie Finance Lease Cost
FinanceLeaseCost
264000 usd
ffie Finance Lease Cost
FinanceLeaseCost
533000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
699000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1532000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
267000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
401000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
1230000 usd
us-gaap Lease Cost
LeaseCost
2466000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2672000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1287000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4844000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2166000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5066000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1757000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4809000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1792000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4751000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1828000 usd
CY2022Q2 ffie Lessee Operating Lease Liability Payment Due After Year Four
LesseeOperatingLeaseLiabilityPaymentDueAfterYearFour
11804000 usd
CY2022Q2 ffie Finance Lease Liability Payment Due After Year Four
FinanceLeaseLiabilityPaymentDueAfterYearFour
1864000 usd
CY2021 ffie Number Of Leases
NumberOfLeases
3 lease
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
33946000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
10694000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13714000 usd
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1496000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
20232000 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
9198000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2015000 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1903000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18217000 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
7295000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
20232000 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
9198000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1532000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
351000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
936000 usd
ffie Cash Paid For Amounts Included In The Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiabilities
2819000 usd
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9991000 usd
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.155
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.059
CY2021Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
676000 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1225000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2384000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2695000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2775000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2859000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2944000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
991000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
14648000 usd
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
2574000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable Current
CapitalLeasesFutureMinimumPaymentsReceivableCurrent
2166000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Two Years
CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears
1757000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Three Years
CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears
1792000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Four Years
CapitalLeasesFutureMinimumPaymentsReceivableInFourYears
1840000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable Due Thereafter
CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter
1864000 usd
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Receivable
CapitalLeasesFutureMinimumPaymentsReceivable
11993000 usd
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
14808000 usd
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
16881000 usd
CY2022Q1 ffie Number Of Reservations Received For Vehicles
NumberOfReservationsReceivedForVehicles
14000 reservation
CY2022Q1 ffie Number Of Unpaid Reservations Of Interest
NumberOfUnpaidReservationsOfInterest
14000 reservation
CY2022Q2 ffie Loss Contingency Probation Period
LossContingencyProbationPeriod
P6M
CY2022Q2 ffie Preferred Stock Shares To Be Issued
PreferredStockSharesToBeIssued
0 shares
CY2022Q2 ffie Shares Authorized
SharesAuthorized
835000000 shares
CY2022Q2 us-gaap Shares Issued
SharesIssued
302544063 shares
CY2022Q2 ffie Shares To Be Issued
SharesToBeIssued
20264715 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 ffie Preferred Stock Shares To Be Issued
PreferredStockSharesToBeIssued
0 shares
CY2021Q4 ffie Shares Authorized
SharesAuthorized
835000000 shares
CY2021Q4 us-gaap Shares Issued
SharesIssued
168693323 shares
CY2021Q4 ffie Shares To Be Issued
SharesToBeIssued
153152718 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
77935901 shares
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3127000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
948000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6474000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3468000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
52777402 shares
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
212950000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15394000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12384000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4267000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
61133000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27423000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
6344000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-37647000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
4874000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
27564000 usd
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
1935000 usd
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
14167000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7851000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1835000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
212950000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15394000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12384000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4267000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
61133000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27423000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
6344000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-37647000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
4874000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
27564000 usd
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
1935000 usd
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
14167000 usd
CY2022Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
12962000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7851000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1835000 usd

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exhibit311q22022-ceo.htm Edgar Link pending
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