$NRDE
Nu Ride Inc

2022 Q1 Form 10-Q Financial Statement

#000155837022007666 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $26.02M $14.39M $10.81M
YoY Change 80.76% 308.92% 144.02%
% of Gross Profit
Research & Development $61.86M $91.81M $27.75M
YoY Change -32.62% 984.22% 394.65%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $87.88M $106.2M $38.55M
YoY Change -17.25% 785.79% 283.96%
Operating Profit -$87.88M -$106.2M
YoY Change -17.25% 785.79%
Interest Expense -$258.0K $127.0K $200.0K
YoY Change -303.15% -12800.0%
% of Operating Profit
Other Income/Expense, Net -$1.492M -$19.13M $2.460M
YoY Change -92.2% -15284.13% 24500.0%
Pretax Income -$89.63M -$125.2M -$38.24M
YoY Change -28.41% 955.3% 281.64%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$89.60M -$125.2M -$38.24M
YoY Change -28.44% 955.3% 281.64%
Net Earnings / Revenue
Basic Earnings Per Share -$0.46 -$0.72
Diluted Earnings Per Share -$0.43 -$0.72 -$230.4K
COMMON SHARES
Basic Shares Outstanding 196.5M 174.3M 164.9M shares
Diluted Shares Outstanding 196.5M 174.3M

Balance Sheet

Concept 2022 Q1 2021 Q1 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.6M $587.0M $629.8M
YoY Change -65.32%
Cash & Equivalents $203.6M $587.0M $629.8M
Short-Term Investments
Other Short-Term Assets $34.37M $25.99M $24.70M
YoY Change 32.26%
Inventory
Prepaid Expenses
Receivables $5.000K $21.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $237.9M $613.0M $654.4M
YoY Change -61.19% 30212.41%
LONG-TERM ASSETS
Property, Plant & Equipment $407.8M $154.9M $101.7M
YoY Change 163.22% 401.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.00M
YoY Change
Total Long-Term Assets $422.8M $166.0M $112.8M
YoY Change 154.64% 259.3%
TOTAL ASSETS
Total Short-Term Assets $237.9M $613.0M $654.4M
Total Long-Term Assets $422.8M $166.0M $112.8M
Total Assets $660.8M $779.1M $767.2M
YoY Change -15.19% 2187.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.78M $58.96M $32.54M
YoY Change -76.63% 1705.55%
Accrued Expenses $39.28M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $203.1M $67.00M $34.07M
YoY Change 203.06% 36.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.015M $1.000M
YoY Change -100.0%
Other Long-Term Liabilities $3.189M $7.750M $101.4M
YoY Change -58.85%
Total Long-Term Liabilities $3.189M $8.765M $1.000M
YoY Change -63.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.1M $67.00M $34.07M
Total Long-Term Liabilities $3.189M $8.765M $1.000M
Total Liabilities $206.2M $75.77M $136.5M
YoY Change 172.21% 446.14%
SHAREHOLDERS EQUITY
Retained Earnings -$634.4M -$259.7M -$134.4M
YoY Change 144.33% 1193.82%
Common Stock $20.00K $18.00K $17.00K
YoY Change 11.11% 142.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $454.5M $703.3M $630.7M
YoY Change
Total Liabilities & Shareholders Equity $660.8M $779.1M $767.2M
YoY Change -15.19% 2187.07%

Cashflow Statement

Concept 2022 Q1 2021 Q1 2020 Q4
OPERATING ACTIVITIES
Net Income -$89.60M -$125.2M -$38.24M
YoY Change -28.44% 955.3% 281.64%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities -$69.03M -$71.52M -$28.72M
YoY Change -3.48% 810.5%
INVESTING ACTIVITIES
Capital Expenditures $21.90M $54.26M -$58.24M
YoY Change -59.65%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$21.90M -$54.26M -$58.24M
YoY Change -59.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $477.0K $1.050M $500.0M
YoY Change -54.57% -82.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.48M 83.07M 697.0M
YoY Change -39.23% 1256.18%
NET CHANGE
Cash From Operating Activities -69.03M -71.52M -28.72M
Cash From Investing Activities -21.90M -54.26M -58.24M
Cash From Financing Activities 50.48M 83.07M 697.0M
Net Change In Cash -40.45M -42.72M 610.1M
YoY Change -5.3% 2369.25%
FREE CASH FLOW
Cash From Operating Activities -$69.03M -$71.52M -$28.72M
Capital Expenditures $21.90M $54.26M -$58.24M
Free Cash Flow -$90.93M -$125.8M $29.52M
YoY Change -27.71% 1501.32%

Facts In Submission

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CY2022Q1 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;padding-bottom:12pt;margin:0pt;">Warrants</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The Company accounts for its Public and Private Warrants as described in Note 3 in accordance with the guidance contained in ASC Topic 815-40-15-7D and 7F under which the Public Warrants and Private Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Public and Private Warrants as liabilities at their fair value and adjusts the Public and Private </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">Warrants to fair value at each reporting period or at the time of settlement. Any change in fair value is recognized in the statement of operations.  The Company accounts for BGL Warrants as equity as these warrants qualify as share-based compensation under ASC Topic 718.</p>
CY2021Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
100900000
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
82000000.0
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3900000
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3900000
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3900000
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1520000
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
19138000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
407817000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
382746000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
407817000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
382746000
CY2022Q1 us-gaap Depreciation
Depreciation
0
CY2021 us-gaap Depreciation
Depreciation
0
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11100000
CY2022Q1 ride Shares Authorized Common And Preferred
SharesAuthorizedCommonAndPreferred
312000000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
197000000.0
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
196400000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
196503000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174325000

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