$NRDE
Nu Ride Inc

2022 Q3 Form 10-Q Financial Statement

#000155837022012069 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $60.15M $29.94M $26.02M
YoY Change 92.27% -11.4% 80.76%
% of Gross Profit
Research & Development $19.84M $10.51M $61.86M
YoY Change -65.13% -86.27% -32.62%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $154.8M -$61.29M $87.88M
YoY Change 55.97% -155.54% -17.25%
Operating Profit -$154.8M $61.29M -$87.88M
YoY Change 55.97% -155.54% -17.25%
Interest Expense $1.062M $383.0K -$258.0K
YoY Change 11700.0% 47.31% -303.15%
% of Operating Profit 0.62%
Other Income/Expense, Net -$643.0K $1.991M -$1.492M
YoY Change -118.55% 6.07% -92.2%
Pretax Income -$154.4M $63.66M -$89.63M
YoY Change 61.19% -158.83% -28.41%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$154.4M $63.66M -$89.60M
YoY Change 61.19% -158.83% -28.44%
Net Earnings / Revenue
Basic Earnings Per Share -$0.73 $0.32 -$0.46
Diluted Earnings Per Share -$728.6K $0.32 -$0.43
COMMON SHARES
Basic Shares Outstanding 205.9M 200.8M 196.5M
Diluted Shares Outstanding 211.9M 201.0M 196.5M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.5M $235.7M $203.6M
YoY Change -12.96% -35.59% -65.32%
Cash & Equivalents $154.2M $235.7M $203.6M
Short-Term Investments $49.30M
Other Short-Term Assets $37.46M $43.08M $34.37M
YoY Change 63.48% 124.52% 32.26%
Inventory $11.18M $4.013M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $252.2M $282.8M $237.9M
YoY Change -1.78% -26.57% -61.19%
LONG-TERM ASSETS
Property, Plant & Equipment $220.0M $286.9M $407.8M
YoY Change -39.29% 0.22% 163.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.88M $27.49M $14.00M
YoY Change 486.99% 478.67%
Total Long-Term Assets $248.9M $315.4M $422.8M
YoY Change -32.21% 4.39% 154.64%
TOTAL ASSETS
Total Short-Term Assets $252.2M $282.8M $237.9M
Total Long-Term Assets $248.9M $315.4M $422.8M
Total Assets $501.1M $598.2M $660.8M
YoY Change -19.68% -12.96% -15.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.63M $12.98M $13.78M
YoY Change -67.87% -73.4% -76.63%
Accrued Expenses $34.36M $39.28M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $13.50M $13.50M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $86.15M $60.83M $203.1M
YoY Change -1.94% -25.25% 203.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.495M $1.601M $3.189M
YoY Change -29.3% -76.71% -58.85%
Total Long-Term Liabilities $2.495M $1.601M $3.189M
YoY Change -29.3% -76.71% -63.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $86.15M $60.83M $203.1M
Total Long-Term Liabilities $2.495M $1.601M $3.189M
Total Liabilities $88.64M $62.44M $206.2M
YoY Change -3.0% -29.25% 172.21%
SHAREHOLDERS EQUITY
Retained Earnings -$725.2M -$570.8M -$634.4M
YoY Change 56.39% 55.15% 144.33%
Common Stock $22.00K $21.00K $20.00K
YoY Change 22.22% 16.67% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $412.4M $535.8M $454.5M
YoY Change
Total Liabilities & Shareholders Equity $501.1M $598.2M $660.8M
YoY Change -19.68% -12.96% -15.19%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$154.4M $63.66M -$89.60M
YoY Change 61.19% -158.83% -28.44%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$49.59M -$52.39M -$69.03M
YoY Change -33.75% -47.53% -3.48%
INVESTING ACTIVITIES
Capital Expenditures -$10.52M -$18.15M $21.90M
YoY Change -86.84% -85.04% -59.65%
Acquisitions
YoY Change
Other Investing Activities -$48.04M $24.05M
YoY Change
Cash From Investing Activities -$58.56M $5.906M -$21.90M
YoY Change -26.73% -104.87% -59.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $477.0K
YoY Change -54.57%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.71M 78.61M 50.48M
YoY Change 17.52% 163670.83% -39.23%
NET CHANGE
Cash From Operating Activities -49.59M -52.39M -69.03M
Cash From Investing Activities -58.56M 5.906M -21.90M
Cash From Financing Activities 26.71M 78.61M 50.48M
Net Change In Cash -81.45M 32.12M -40.45M
YoY Change -38.32% -114.53% -5.3%
FREE CASH FLOW
Cash From Operating Activities -$49.59M -$52.39M -$69.03M
Capital Expenditures -$10.52M -$18.15M $21.90M
Free Cash Flow -$39.07M -$34.25M -$90.93M
YoY Change -872.08% -259.41% -27.71%

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates in Financial Statement Preparation</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">The preparation of financial statements in accordance with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, if any, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-877000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-277000
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
82000000.0
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1797000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
18261000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
286928000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
382746000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
286928000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
382746000
CY2022Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
101700000
us-gaap Depreciation
Depreciation
0
CY2021 us-gaap Depreciation
Depreciation
0
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4000000.0
CY2022Q2 ride Shares Authorized Common And Preferred
SharesAuthorizedCommonAndPreferred
312000000
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12000000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
205900000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
196400000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
200821000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176585000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198674000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175595000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201015000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176585000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
198674000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
175595000

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