2023 Q2 Form 10-Q Financial Statement
#000162828023030130 Filed on August 21, 2023
Income Statement
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | $6.610M | |
| YoY Change | ||
| Gross Profit | -$6.613M | $0.00 |
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $24.76M | $39.45M |
| YoY Change | -37.24% | 107.47% |
| % of Gross Profit | ||
| Research & Development | $25.27M | $98.02M |
| YoY Change | -74.22% | 1030.12% |
| % of Gross Profit | ||
| Depreciation & Amortization | $13.20M | $4.993M |
| YoY Change | 164.37% | 143.92% |
| % of Gross Profit | ||
| Operating Expenses | $49.37M | $137.5M |
| YoY Change | -64.09% | 396.48% |
| Operating Profit | -$55.98M | -$137.5M |
| YoY Change | -59.28% | 396.48% |
| Interest Expense | -$280.0K | -$2.441M |
| YoY Change | -88.53% | -80.94% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$1.466M | -$6.936M |
| YoY Change | -78.86% | 346.91% |
| Pretax Income | -$124.9M | -$141.7M |
| YoY Change | -11.85% | 168.47% |
| Income Tax | $28.00K | $9.000K |
| % Of Pretax Income | ||
| Net Earnings | -$124.9M | -$141.7M |
| YoY Change | -11.83% | 168.49% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$8.35 | -$439.1K |
| COMMON SHARES | ||
| Basic Shares Outstanding | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $17.90M | $120.6M |
| YoY Change | -85.16% | 129.57% |
| Cash & Equivalents | $17.90M | $120.6M |
| Short-Term Investments | ||
| Other Short-Term Assets | $14.58M | $5.985M |
| YoY Change | 143.66% | -65.56% |
| Inventory | $10.30M | |
| Prepaid Expenses | $3.557M | $2.881M |
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $105.6M | $175.1M |
| YoY Change | -39.7% | 150.49% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $425.3M | $387.1M |
| YoY Change | 9.87% | 34.53% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $6.325M | $6.707M |
| YoY Change | -5.7% | -42.91% |
| Total Long-Term Assets | $461.9M | $413.1M |
| YoY Change | 11.8% | 37.96% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $105.6M | $175.1M |
| Total Long-Term Assets | $461.9M | $413.1M |
| Total Assets | $567.5M | $588.2M |
| YoY Change | -3.53% | 59.25% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $92.76M | $61.79M |
| YoY Change | 50.12% | -8.44% |
| Accrued Expenses | $55.84M | $92.39M |
| YoY Change | -39.57% | -32.77% |
| Deferred Revenue | $3.975M | |
| YoY Change | ||
| Short-Term Debt | $0.00 | $14.98M |
| YoY Change | -100.0% | -92.79% |
| Long-Term Debt Due | $15.10M | $75.40M |
| YoY Change | -79.97% | -74.81% |
| Total Short-Term Liabilities | $187.6M | $257.7M |
| YoY Change | -27.2% | -69.32% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $75.50M | $7.295M |
| YoY Change | 934.96% | -90.17% |
| Other Long-Term Liabilities | $10.05M | $3.609M |
| YoY Change | 178.5% | -54.2% |
| Total Long-Term Liabilities | $10.05M | $3.609M |
| YoY Change | 178.5% | -95.6% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $187.6M | $257.7M |
| Total Long-Term Liabilities | $10.05M | $3.609M |
| Total Liabilities | $289.8M | $286.8M |
| YoY Change | 1.03% | -68.89% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$3.797B | -$3.219B |
| YoY Change | 17.94% | |
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $277.7M | $268.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $567.5M | $588.2M |
| YoY Change | -3.53% | 59.25% |
Cashflow Statement
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$124.9M | -$141.7M |
| YoY Change | -11.83% | 168.49% |
| Depreciation, Depletion And Amortization | $13.20M | $4.993M |
| YoY Change | 164.37% | 143.92% |
| Cash From Operating Activities | -$57.73M | -$112.7M |
| YoY Change | -48.79% | 119.55% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $8.980M | -$45.84M |
| YoY Change | -119.59% | 3207.07% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$8.980M | -$45.84M |
| YoY Change | -80.41% | 2923.48% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 47.40M | -164.0K |
| YoY Change | -29002.44% | -100.15% |
| NET CHANGE | ||
| Cash From Operating Activities | -57.73M | -112.7M |
| Cash From Investing Activities | -8.980M | -45.84M |
| Cash From Financing Activities | 47.40M | -164.0K |
| Net Change In Cash | -19.31M | -158.7M |
| YoY Change | -87.84% | -372.95% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$57.73M | -$112.7M |
| Capital Expenditures | $8.980M | -$45.84M |
| Free Cash Flow | -$66.71M | -$66.90M |
| YoY Change | -0.29% | 33.9% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList
|
http://fasb.org/us-gaap/2023#FairValueOptionChangesInFairValueGainLoss1 | ||
| CY2023Q2 | ffie |
Adjustments To Additional Paid In Capital Earnout Shares Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalEarnoutSharesLiabilityForInsufficientAuthorizedShares
|
2112000 | usd |
| CY2023Q2 | ffie |
Adjustments To Additional Paid In Capital Share Based Awards Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalShareBasedAwardsLiabilityForInsufficientAuthorizedShares
|
2979000 | usd |
| CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
892000 | usd |
| ffie |
Adjustments To Additional Paid In Capital Reclassification Of Equity Warrants As Liability
AdjustmentsToAdditionalPaidInCapitalReclassificationOfEquityWarrantsAsLiability
|
-6811000 | usd | |
| ffie |
Adjustments To Additional Paid In Capital Liability For Earnout Shares
AdjustmentsToAdditionalPaidInCapitalLiabilityForEarnoutShares
|
-5014000 | usd | |
| ffie |
Adjustments To Additional Paid In Capital Liability For Share Based Awards
AdjustmentsToAdditionalPaidInCapitalLiabilityForShareBasedAwards
|
-8978000 | usd | |
| ffie |
Adjustments To Additional Paid In Capital Earnout Shares Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalEarnoutSharesLiabilityForInsufficientAuthorizedShares
|
2112000 | usd | |
| ffie |
Adjustments To Additional Paid In Capital Share Based Awards Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalShareBasedAwardsLiabilityForInsufficientAuthorizedShares
|
2979000 | usd | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
4523000 | usd | |
| ffie |
Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
|
51276000 | usd | |
| us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
44000 | usd | |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
5567000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-269901000 | usd | |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
277700000 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
402322000 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
3127000 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
499000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
4248000 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-141694000 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
268502000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
567654000 | usd |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
0 | usd | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
6474000 | usd | |
| us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2354000 | usd | |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
3684000 | usd | |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
268502000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-269901000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-294792000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
14534000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
9846000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9272000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6474000 | usd | |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-3698000 | usd | |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-1407000 | usd | |
| ffie |
Fair Value Adjustment Of Earnout Liability
FairValueAdjustmentOfEarnoutLiability
|
2100000 | usd | |
| ffie |
Fair Value Adjustment Of Earnout Liability
FairValueAdjustmentOfEarnoutLiability
|
0 | usd | |
| us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1419000 | usd | |
| us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
0 | usd | |
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-164000 | usd | |
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-2484000 | usd | |
| ffie |
Gain Loss On Forgiveness Of Accounts Payable And Deposits Net
GainLossOnForgivenessOfAccountsPayableAndDepositsNet
|
-135000 | usd | |
| ffie |
Gain Loss On Forgiveness Of Accounts Payable And Deposits Net
GainLossOnForgivenessOfAccountsPayableAndDepositsNet
|
-2190000 | usd | |
| us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
0 | usd | |
| us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
4609000 | usd | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-669000 | usd | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-216000 | usd | |
| us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
17767000 | usd | |
| us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-11104000 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
5844000 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
950000 | usd | |
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-2977000 | usd | |
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-2998000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
9905000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
24403000 | usd | |
| us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-27551000 | usd | |
| us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
12785000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-1097000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-1678000 | usd | |
| us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
127000 | usd | |
| us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
9856000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-160708000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-235104000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
25852000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
90234000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-25852000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-90234000 | usd | |
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
4074000 | usd | |
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | usd | |
| us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | usd | |
| us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
87258000 | usd | |
| ffie |
Payments Of Finance Lease Obligations
PaymentsOfFinanceLeaseObligations
|
673000 | usd | |
| ffie |
Payments Of Finance Lease Obligations
PaymentsOfFinanceLeaseObligations
|
936000 | usd | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
44000 | usd | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2354000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
181838000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-85840000 | usd | |
| us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5604000 | usd | |
| us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2235000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
882000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-408943000 | usd | |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
18514000 | usd |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
530477000 | usd |
| CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
17893000 | usd |
| CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16968000 | usd |
| CY2023Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
1503000 | usd |
| CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
1546000 | usd |
| CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19396000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
18514000 | usd |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
465000 | usd | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
12937000 | usd | |
| ffie |
Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
|
20047000 | usd | |
| ffie |
Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
|
7331000 | usd | |
| ffie |
Reclassification Of Liability For Insufficient Authorized Shares Related To Stock Options And Rs Us
ReclassificationOfLiabilityForInsufficientAuthorizedSharesRelatedToStockOptionsAndRSUs
|
8978000 | usd | |
| ffie |
Reclassification Of Liability For Insufficient Authorized Shares Related To Stock Options And Rs Us
ReclassificationOfLiabilityForInsufficientAuthorizedSharesRelatedToStockOptionsAndRSUs
|
0 | usd | |
| ffie |
Reclassification Of Earnout Shares Liability To Equity As Part Of Authorized Share Increase
ReclassificationOfEarnoutSharesLiabilityToEquityAsPartOfAuthorizedShareIncrease
|
5014000 | usd | |
| ffie |
Reclassification Of Earnout Shares Liability To Equity As Part Of Authorized Share Increase
ReclassificationOfEarnoutSharesLiabilityToEquityAsPartOfAuthorizedShareIncrease
|
0 | usd | |
| ffie |
Issuance Of Warrants Pursuant To The Exchange Agreement
IssuanceOfWarrantsPursuantToTheExchangeAgreement
|
30348000000 | usd | |
| ffie |
Issuance Of Warrants Pursuant To The Exchange Agreement
IssuanceOfWarrantsPursuantToTheExchangeAgreement
|
usd | ||
| ffie |
Issuance Of Convertible Notes Pursuant To The Exchange Agreement
IssuanceOfConvertibleNotesPursuantToTheExchangeAgreement
|
16500000 | usd | |
| ffie |
Issuance Of Convertible Notes Pursuant To The Exchange Agreement
IssuanceOfConvertibleNotesPursuantToTheExchangeAgreement
|
0 | usd | |
| ffie |
Disposal Of Warrants
DisposalOfWarrants
|
-16506000 | usd | |
| ffie |
Disposal Of Warrants
DisposalOfWarrants
|
0 | usd | |
| ffie |
Reclassification Of Earnout Shares From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfEarnoutSharesFromEquityToLiabilityDueToInsufficientAuthorizedShares
|
2112000 | usd | |
| ffie |
Reclassification Of Earnout Shares From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfEarnoutSharesFromEquityToLiabilityDueToInsufficientAuthorizedShares
|
usd | ||
| ffie |
Reclassification Of Share Based Awards From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfShareBasedAwardsFromEquityToLiabilityDueToInsufficientAuthorizedShares
|
2979000 | usd | |
| ffie |
Reclassification Of Share Based Awards From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfShareBasedAwardsFromEquityToLiabilityDueToInsufficientAuthorizedShares
|
0 | usd | |
| ffie |
Change In Classification Of Warrants From Additional Paid In Capital To Liability Pursuant To Warrant Exchange
ChangeInClassificationOfWarrantsFromAdditionalPaidInCapitalToLiabilityPursuantToWarrantExchange
|
6811000 | usd | |
| ffie |
Change In Classification Of Warrants From Additional Paid In Capital To Liability Pursuant To Warrant Exchange
ChangeInClassificationOfWarrantsFromAdditionalPaidInCapitalToLiabilityPursuantToWarrantExchange
|
0 | usd | |
| ffie |
Recognition Of Operating Right Of Use Assets And Lease Liabilities For New Leases
RecognitionOfOperatingRightOfUseAssetsAndLeaseLiabilitiesForNewLeases
|
0 | usd | |
| ffie |
Recognition Of Operating Right Of Use Assets And Lease Liabilities For New Leases
RecognitionOfOperatingRightOfUseAssetsAndLeaseLiabilitiesForNewLeases
|
9991000 | usd | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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) fair value of options granted to employees and non-employees; (vi) fair value of warrants, and (vii) 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 under different assumptions, financial inputs, or circumstances. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the global economic climate, 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. Actual results could differ from these estimates and any such differences may have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements.</span></div> | ||
| CY2023Q2 | us-gaap |
Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
|
3600000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
|
3400000 | usd |
| CY2023Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
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:700;line-height:112%">Reclassifications </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to the prior period in the accompanying unaudited Condensed Consolidated Financial Statements to conform with the current presentation. Inventory and Finance lease right-of-use assets are now separately presented in the unaudited Condensed Consolidated Balance Sheets, as they were previously included in Other current assets and Property and equipment, Net, respectively (see Note 5, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Deposits and Other Current Assets</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and Note 6, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property and Equipment, Net</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). In addition, the Buildings and Leasehold improvements within Property and equipment (see Note 6, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property and Equipment, Net</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) have been combined, as they were previously presented separately.</span></div> | ||
| ffie |
Going Concern Period
GoingConcernPeriod
|
P1Y | ||
| ffie |
Going Concern Period
GoingConcernPeriod
|
P1Y | ||
| CY2023Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-3796700000 | usd |
| CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
17900000 | usd |
| CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
17489000 | usd |
| CY2023Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
8464000 | usd |
| CY2023Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
1837000 | usd |
| CY2023Q2 | us-gaap |
Inventory Net
InventoryNet
|
10301000 | usd |
| CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
4457000 | usd |
| CY2022Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
0 | usd |
| CY2023Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
0 | usd |
| CY2023Q2 | ffie |
Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
|
58348000 | usd |
| CY2022Q4 | ffie |
Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
|
40879000 | usd |
| CY2023Q2 | ffie |
Deposit For Future Work
DepositForFutureWork
|
2969000 | usd |
| CY2022Q4 | ffie |
Deposit For Future Work
DepositForFutureWork
|
3187000 | usd |
| CY2023Q2 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
61317000 | usd |
| CY2022Q4 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
44066000 | usd |
| CY2023Q2 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
3557000 | usd |
| CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
14437000 | usd |
| CY2023Q2 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
|
11026000 | usd |
| CY2022Q4 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
|
3052000 | usd |
| CY2023Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
14583000 | usd |
| CY2023Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
22976000 | usd |
| CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
10295000 | usd |
| CY2023Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
425294000 | usd |
| CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
406320000 | usd |
| CY2023Q2 | us-gaap |
Depreciation
Depreciation
|
13200000 | usd |
| CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
800000 | usd |
| us-gaap |
Depreciation
Depreciation
|
14300000 | usd | |
| us-gaap |
Depreciation
Depreciation
|
1600000 | usd | |
| CY2023Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
24197000 | usd |
| CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
20502000 | usd |
| CY2023Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
16877000 | usd |
| CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
18940000 | usd |
| CY2023Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
14761000 | usd |
| CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
26267000 | usd |
| CY2023Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
55835000 | usd |
| CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
65709000 | usd |
| CY2023Q1 | ffie |
Loss On Extinguishment Of Debt
LossOnExtinguishmentOfDebt
|
-3000000 | usd |
| ffie |
Stock Exchanged During Period Value
StockExchangedDuringPeriodValue
|
6800000 | usd | |
| CY2021Q4 | ffie |
Loss Contingency Number Of Directors
LossContingencyNumberOfDirectors
|
3 | director |
| CY2022Q3 | ffie |
Number Of Reservations Received For Vehicles
NumberOfReservationsReceivedForVehicles
|
14000 | reservation |
| CY2023Q1 | ffie |
Loss Contingency Number Of Directors
LossContingencyNumberOfDirectors
|
3 | director |
| CY2022Q1 | us-gaap |
Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
|
2 | claim |
| CY2023Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
16900000 | usd |
| CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
18900000 | usd |
| CY2021Q4 | ffie |
Number Of Reservations Received For Vehicles
NumberOfReservationsReceivedForVehicles
|
14000 | reservation |
| CY2021Q4 | ffie |
Number Of Unpaid Reservations Of Interest
NumberOfUnpaidReservationsOfInterest
|
14000 | reservation |
| CY2021Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
| CY2021Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q3 | ffie |
Preferred Stock Voting Rights Threshold
PreferredStockVotingRightsThreshold
|
1 | vote |
| CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
825000000 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
900000000 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
900000000 | shares |
| CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1775000000 | shares |
| ffie |
Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
|
60395603 | shares | |
| ffie |
Stock Issued During Period Shares Warrants Surrendered
StockIssuedDuringPeriodSharesWarrantsSurrendered
|
9266895 | shares | |
| CY2022Q4 | ffie |
Share Based Compensation Arrangement Number Of Shares Reclassified From Equity To Liability Classification
ShareBasedCompensationArrangementNumberOfSharesReclassifiedFromEquityToLiabilityClassification
|
53820670 | shares |
| CY2022 | ffie |
Adjustments To Additional Paid In Capital Earnout Shares Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalEarnoutSharesLiabilityForInsufficientAuthorizedShares
|
4000000 | usd |
| CY2023Q2 | ffie |
Adjustments To Additional Paid In Capital Earnout Shares Liability For Insufficient Authorized Shares
AdjustmentsToAdditionalPaidInCapitalEarnoutSharesLiabilityForInsufficientAuthorizedShares
|
3000000 | usd |
| CY2023Q2 | ffie |
Earnout Shares Liability Fair Value Disclosure
EarnoutSharesLiabilityFairValueDisclosure
|
1400000 | usd |
| CY2023Q2 | ffie |
Share Based Payment Liabilities Fair Value Disclosure
ShareBasedPaymentLiabilitiesFairValueDisclosure
|
2700000 | usd |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
77935901 | shares | |
| CY2023Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
639000 | usd |
| CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3127000 | usd |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
9272000 | usd | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6474000 | usd | |
| ffie |
Share Based Compensation Arrangement Classification As Liability Gain Loss
ShareBasedCompensationArrangementClassificationAsLiabilityGainLoss
|
4800000 | usd | |
| CY2023Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
865753807 | shares |
| CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
77935901 | shares |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
865753807 | shares |
