2023 Q4 Form 10-K Financial Statement

#000162828024025420 Filed on May 28, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $233.0K $784.0K $0.00
YoY Change
Cost Of Revenue $19.86M $42.61M
YoY Change
Gross Profit -$19.63M -$41.82M
YoY Change
Gross Profit Margin -8424.89% -5334.57%
Selling, General & Admin $20.04M $105.7M $31.76M
YoY Change -36.9% -22.95% -20.14%
% of Gross Profit
Research & Development $27.35M $132.0M $50.86M
YoY Change -46.23% -57.56% -36.76%
% of Gross Profit
Depreciation & Amortization $14.80M $42.47M -$12.35M
YoY Change -219.86% 1315.77% -417.43%
% of Gross Profit
Operating Expenses $47.40M $244.2M $82.63M
YoY Change -42.64% -45.85% -31.26%
Operating Profit -$67.03M -$286.1M
YoY Change -36.57%
Interest Expense -$2.311M -$3.041M -$2.647M
YoY Change -12.69% -72.64% -41.55%
% of Operating Profit
Other Income/Expense, Net $1.306M -$2.437M -$67.29M
YoY Change -101.94% -80.57% -305.49%
Pretax Income -$83.72M -$431.6M -$153.8M
YoY Change -45.59% -21.81% 83.02%
Income Tax $81.00K $109.0K $52.00K
% Of Pretax Income
Net Earnings -$83.80M -$431.7M -$153.9M
YoY Change -45.55% -21.8% 82.56%
Net Earnings / Revenue -35964.38% -55069.39%
Basic Earnings Per Share
Diluted Earnings Per Share -$8.70 -$44.81 -$0.32
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.898M $1.898M $16.97M
YoY Change -88.81% -88.81% -96.64%
Cash & Equivalents $1.900M $16.97M
Short-Term Investments
Other Short-Term Assets $21.72M $55.23M $21.09M
YoY Change 3.01% 11.72% 57.25%
Inventory $34.23M $34.23M $3.598M
Prepaid Expenses $13.31M $14.44M
Receivables $7.000K $7.000K $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $91.36M $91.36M $66.41M
YoY Change 37.59% 37.59% -89.06%
LONG-TERM ASSETS
Property, Plant & Equipment $417.8M $434.3M $417.8M
YoY Change 0.0% -0.71% 42.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.877M $4.877M $6.492M
YoY Change -24.88% -24.88% -7.78%
Total Long-Term Assets $439.2M $439.2M $443.9M
YoY Change -1.06% -1.06% 47.87%
TOTAL ASSETS
Total Short-Term Assets $91.36M $91.36M $66.41M
Total Long-Term Assets $439.2M $439.2M $443.9M
Total Assets $530.5M $530.5M $510.3M
YoY Change 3.97% 3.97% -43.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $93.17M $93.17M $87.38M
YoY Change 6.63% 6.63% 131.32%
Accrued Expenses $62.39M $54.03M $65.71M
YoY Change -5.05% 23.22% -27.4%
Deferred Revenue $3.573M
YoY Change -17.94%
Short-Term Debt $0.00 $0.00 $8.406M
YoY Change -100.0% -100.0% -38.44%
Long-Term Debt Due $100.9M $100.9M $6.461M
YoY Change 1461.83% 1461.83% -95.21%
Total Short-Term Liabilities $261.2M $261.2M $267.5M
YoY Change -2.36% -2.36% -8.96%
LONG-TERM LIABILITIES
Long-Term Debt $25.48M $25.48M $32.58M
YoY Change -21.78% -21.78% -22.9%
Other Long-Term Liabilities $1.338M $15.64M $9.429M
YoY Change -85.81% -43.06% 153.47%
Total Long-Term Liabilities $1.338M $41.13M $9.429M
YoY Change -85.81% -31.51% 153.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $261.2M $261.2M $267.5M
Total Long-Term Liabilities $1.338M $41.13M $9.429M
Total Liabilities $302.3M $302.3M $327.5M
YoY Change -7.7% -7.7% -3.6%
SHAREHOLDERS EQUITY
Retained Earnings -$3.959B -$3.477B
YoY Change 13.86% 19.57%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $228.2M $228.2M $182.8M
YoY Change
Total Liabilities & Shareholders Equity $530.5M $530.5M $510.3M
YoY Change 3.97% 3.97% -43.77%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$83.80M -$431.7M -$153.9M
YoY Change -45.55% -21.8% 82.56%
Depreciation, Depletion And Amortization $14.80M $42.47M -$12.35M
YoY Change -219.86% 1315.77% -417.43%
Cash From Operating Activities -$37.81M -$278.2M -$27.95M
YoY Change 35.27% -27.38% -72.57%
INVESTING ACTIVITIES
Capital Expenditures $20.26M $31.11M $11.12M
YoY Change 82.17% -74.75% -119.04%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$20.26M -$31.11M -$11.12M
YoY Change 82.17% -74.75% -80.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.88M $291.4M 34.21M
YoY Change 57.48% -4436.35% -8131.46%
NET CHANGE
Cash From Operating Activities -37.81M -$278.2M -27.95M
Cash From Investing Activities -20.26M -$31.11M -11.12M
Cash From Financing Activities 53.88M $291.4M 34.21M
Net Change In Cash -4.190M -$14.49M -4.858M
YoY Change -13.75% -97.17% -96.98%
FREE CASH FLOW
Cash From Operating Activities -$37.81M -$278.2M -$27.95M
Capital Expenditures $20.26M $31.11M $11.12M
Free Cash Flow -$58.07M -$309.3M -$39.07M
YoY Change 48.63% -38.91% -10.12%

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CY2022 us-gaap Paid In Kind Interest
PaidInKindInterest
8403000 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-237064000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-73204000 usd
CY2023 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-667000 usd
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1028000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
29772000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4457000 usd
CY2023 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-14337000 usd
CY2022 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-10874000 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2884000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
5243000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
13785000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
60369000 usd
CY2023 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-42481000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-14947000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2717000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1620000 usd
CY2023 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-588000 usd
CY2022 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
12468000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-278178000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-383058000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31109000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
123222000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-31109000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-123222000 usd
CY2023 ffie Proceeds From Sale And Leaseback Transaction
ProceedsFromSaleAndLeasebackTransaction
24897000 usd
CY2022 ffie Proceeds From Sale And Leaseback Transaction
ProceedsFromSaleAndLeasebackTransaction
0 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
44000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9535000 usd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2503000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3834000 usd
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4074000 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4229000 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
767000 usd
CY2023 ffie Payments Of Finance Lease Obligations
PaymentsOfFinanceLeaseObligations
1016000 usd
CY2022 ffie Payments Of Finance Lease Obligations
PaymentsOfFinanceLeaseObligations
1888000 usd
CY2023 ffie Payments For Conversion Of Debt
PaymentsForConversionOfDebt
0 usd
CY2022 ffie Payments For Conversion Of Debt
PaymentsForConversionOfDebt
0 usd
CY2023 ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
34492000 usd
CY2022 ffie Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
291446000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6721000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3352000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1038000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14489000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-511963000 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4025000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18514000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1898000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1898000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16968000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2127000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2127000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1546000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4025000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18514000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
465000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
13577000 usd
CY2023 ffie Conversion Of Convertible Note To Equity
ConversionOfConvertibleNoteToEquity
123460000 usd
CY2022 ffie Conversion Of Convertible Note To Equity
ConversionOfConvertibleNoteToEquity
164069000 usd
CY2023 ffie Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
48037000 usd
CY2022 ffie Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
12268000 usd
CY2023 ffie Warrants Issued Excluding Exchange Agreement
WarrantsIssuedExcludingExchangeAgreement
34269000 usd
CY2022 ffie Warrants Issued Excluding Exchange Agreement
WarrantsIssuedExcludingExchangeAgreement
0 usd
CY2023 us-gaap Notes Issued1
NotesIssued1
16500000 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
0 usd
CY2023 ffie Conversion Of Related Party Notes Payable And Related Party Accrued Interest To Equity
ConversionOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquity
12662000 usd
CY2022 ffie Conversion Of Related Party Notes Payable And Related Party Accrued Interest To Equity
ConversionOfRelatedPartyNotesPayableAndRelatedPartyAccruedInterestToEquity
0 usd
CY2023 ffie Reclassification Of Warrants From Equity To Liability
ReclassificationOfWarrantsFromEquityToLiability
6811000 usd
CY2022 ffie Reclassification Of Warrants From Equity To Liability
ReclassificationOfWarrantsFromEquityToLiability
0 usd
CY2023 ffie Reclassification Of Earnout Shares From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfEarnoutSharesFromEquityToLiabilityDueToInsufficientAuthorizedShares
2979000 usd
CY2022 ffie Reclassification Of Earnout Shares From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfEarnoutSharesFromEquityToLiabilityDueToInsufficientAuthorizedShares
0 usd
CY2023 ffie Reclassification Of Share Based Awards From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfShareBasedAwardsFromEquityToLiabilityDueToInsufficientAuthorizedShares
2112000 usd
CY2022 ffie Reclassification Of Share Based Awards From Equity To Liability Due To Insufficient Authorized Shares
ReclassificationOfShareBasedAwardsFromEquityToLiabilityDueToInsufficientAuthorizedShares
0 usd
CY2023 ffie Disposal Of Warrants
DisposalOfWarrants
16506000 usd
CY2022 ffie Disposal Of Warrants
DisposalOfWarrants
0 usd
CY2023 ffie Write Off Of Finance Lease Pursuant To Sale And Leaseback Transaction
WriteOffOfFinanceLeasePursuantToSaleAndLeasebackTransaction
6917000 usd
CY2022 ffie Write Off Of Finance Lease Pursuant To Sale And Leaseback Transaction
WriteOffOfFinanceLeasePursuantToSaleAndLeasebackTransaction
0 usd
CY2023 ffie Reclassification Of Obligation To Issue Registered Shares
ReclassificationOfObligationToIssueRegisteredShares
0 usd
CY2022 ffie Reclassification Of Obligation To Issue Registered Shares
ReclassificationOfObligationToIssueRegisteredShares
32900000 usd
CY2023 ffie Recognition Of Operating Right Of Use Assets And Lease Liabilities For New Leases
RecognitionOfOperatingRightOfUseAssetsAndLeaseLiabilitiesForNewLeases
0 usd
CY2022 ffie Recognition Of Operating Right Of Use Assets And Lease Liabilities For New Leases
RecognitionOfOperatingRightOfUseAssetsAndLeaseLiabilitiesForNewLeases
21865000 usd
CY2023 ffie Troubled Debt Restructuring Accounted As Capital Transaction
TroubledDebtRestructuringAccountedAsCapitalTransaction
0 usd
CY2022 ffie Troubled Debt Restructuring Accounted As Capital Transaction
TroubledDebtRestructuringAccountedAsCapitalTransaction
16841000 usd
CY2023 ffie Warrant Issued
WarrantIssued
0 usd
CY2022 ffie Warrant Issued
WarrantIssued
9938000 usd
CY2023 ffie Share Based Payment Liability
ShareBasedPaymentLiability
0 usd
CY2022 ffie Share Based Payment Liability
ShareBasedPaymentLiability
3976000 usd
CY2023 ffie Liability For Earnout Of Common Stock
LiabilityForEarnoutOfCommonStock
0 usd
CY2022 ffie Liability For Earnout Of Common Stock
LiabilityForEarnoutOfCommonStock
2250000 usd
CY2023 ffie Settlement Of Finance Lease
SettlementOfFinanceLease
0 usd
CY2022 ffie Settlement Of Finance Lease
SettlementOfFinanceLease
709000 usd
CY2023 ffie Receipt Of Common Stock In Consideration Of Exercises Of Options
ReceiptOfCommonStockInConsiderationOfExercisesOfOptions
0 usd
CY2022 ffie Receipt Of Common Stock In Consideration Of Exercises Of Options
ReceiptOfCommonStockInConsiderationOfExercisesOfOptions
669000 usd
CY2023 ffie Transfer Of Warrants To Unaffiliated Parties
TransferOfWarrantsToUnaffiliatedParties
0 usd
CY2022 ffie Transfer Of Warrants To Unaffiliated Parties
TransferOfWarrantsToUnaffiliatedParties
264000 usd
CY2023 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:400;line-height:120%">Use of Estimates </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><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 generally accepted accounting principles requires management to make estimates and assumptions which affect the reported amounts in the Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><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) recognition and disclosure of contingent liabilities, including litigation reserves; (ii) fair value of related party notes payable and notes payable; (iii) calculations related to the evaluation of possible long term asset impairment; (iv) the valuation 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><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 Consolidated Financial Statements were issued, the Company is not aware of any specific event or circumstance that would require an update to 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. Actual results could differ from those estimates and any such differences may have a material impact on the Company’s Consolidated Financial Statements.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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:400;line-height:120%">Concentration of Risk</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which subject the Company to concentrations of credit risk, consist primarily of cash, restricted cash, and deposits. Substantially all of the Company’s cash and restricted cash is held at financial institutions located in the United States of America and in the People’s Republic of China. The Company maintains its cash and restricted cash with major financial institutions. At times, cash and restricted cash account balances with any one financial institution may exceed Federal Deposit Insurance Corporation insurance limits ($250 per depositor per institution) and China Deposit Insurance Regulations limits (CNY 500 per depositor per institution). Management believes the financial institutions that hold the Company’s cash and restricted cash are financially sound and, accordingly, minimal credit risk exists with respect to cash and restricted cash. Cash and restricted cash held by the Company’s non-U.S. subsidiaries is subject to foreign currency fluctuations against the U.S. Dollar. If, however, the U.S. Dollar is devalued significantly against the Chinese Yuan, the Company’s cost to develop its business in China could exceed original estimates.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company receives certain components from sole suppliers. The inability of a supplier to fulfill the Company’s supply requirements could materially impact future operating results.</span></div>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
500000 cny
CY2023Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P36M
CY2023Q4 us-gaap Lessor Sales Type Lease Term Of Contract1
LessorSalesTypeLeaseTermOfContract1
P36M
CY2023Q4 ffie Contract With Customer Liability Customer Deposits
ContractWithCustomerLiabilityCustomerDeposits
3200000 usd
CY2022Q4 ffie Contract With Customer Liability Customer Deposits
ContractWithCustomerLiabilityCustomerDeposits
3400000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4457000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
572000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
0 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
312000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
0 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
34229000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4457000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
0 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
0 usd
CY2023 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
731000 usd
CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
CY2023 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
47000 usd
CY2022 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
0 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
684000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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:400;line-height:112%">Reclassifications</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:27pt"><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 Consolidated Financial Statements to conform with the current presentation. Inventory and Finance lease right-of-use assets are now separately presented in the Consolidated Balance Sheets, as they were previously included in Other current assets and Property and equipment, net, respectively (see Note 4, </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 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%">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, net (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%">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 and included in Land, buildings and leasehold improvements, as they were previously presented separately. On the Consolidated Statement of Cash Flows, changes in Inventory is now separately presented under Changes in operating assets and liabilities instead of being combined with Other current and non-current assets and the change in fair value measurement of notes payable and warrant liability are presented as a single amount as a item to reconcile net income to cash flow from operating activities.</span></div>
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
154437500 shares
CY2023Q3 ffie Common Stock Shares Authorized Before Effect Of Reverse Stock Split
CommonStockSharesAuthorizedBeforeEffectOfReverseStockSplit
12355000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
154437500 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3958500000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1900000 usd
CY2023Q4 ffie Working Capital
WorkingCapital
-169800000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
33345000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
26267000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
62391000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
65709000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2800000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2023Q4 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
28609000 usd
CY2022Q4 ffie Deposit Assets For Research And Development Prototype Parts And Other
DepositAssetsForResearchAndDevelopmentPrototypePartsAndOther
40879000 usd
CY2023Q4 ffie Deposit For Future Work
DepositForFutureWork
2773000 usd
CY2022Q4 ffie Deposit For Future Work
DepositForFutureWork
3187000 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
31382000 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
44066000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
13309000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
14437000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
8412000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3052000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
21721000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
17489000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
49540000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10295000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
417812000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
406320000 usd
CY2023 us-gaap Depreciation
Depreciation
42500000 usd
CY2022 us-gaap Depreciation
Depreciation
3000000 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
700000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
9400000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
28037000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
20502000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
21590000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
18940000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12764000 usd
CY2022Q4 ffie Loss On Extinguishment Of Debt
LossOnExtinguishmentOfDebt
3000000 usd
CY2023 ffie Stock Exchanged During Period Value
StockExchangedDuringPeriodValue
6800000 usd
CY2023Q4 us-gaap Lessee Finance Lease Renewal Term1
LesseeFinanceLeaseRenewalTerm1
P5Y
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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