$NRDE
NU RIDE INC.

2024 Q3 Form 10-Q Financial Statement

#000155837024012064 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $519.0K -$533.0K
YoY Change -97.03% -100.56%
Operating Profit -$519.0K $533.0K
YoY Change -97.03% -100.35%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$55.00K -$65.00K
YoY Change -77.08% -169.89%
Pretax Income $338.0K $1.478M
YoY Change -102.05% -100.96%
Income Tax
% Of Pretax Income
Net Earnings $300.0K $1.500M
YoY Change -101.82% -100.97%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02 $0.05
Diluted Earnings Per Share -$0.02 $0.05
COMMON SHARES
Basic Shares Outstanding 16.10M 16.10M
Diluted Shares Outstanding 16.10M 17.54M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $26.10M $20.94M
Short-Term Investments
Other Short-Term Assets $930.0K $1.068M
YoY Change 20.16% -93.6%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $58.25M $63.71M
YoY Change -42.19% -58.74%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $58.25M $63.71M
Total Long-Term Assets $0.00 $0.00
Total Assets $58.25M $63.71M
YoY Change -46.05% -60.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $437.0K $333.0K
YoY Change -69.44% -90.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.777M $1.725M
YoY Change -92.13% -89.77%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.777M $1.725M
Total Long-Term Liabilities
Total Liabilities $15.25M $21.09M
YoY Change -75.47% -79.45%
SHAREHOLDERS EQUITY
Retained Earnings -$1.200B -$1.200B
YoY Change 0.0% 4.04%
Common Stock $24.00K $24.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.244M $8.543M
YoY Change
Total Liabilities & Shareholders Equity $58.25M $63.71M
YoY Change -46.05% -60.93%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $300.0K $1.500M
YoY Change -101.82% -100.97%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity Central Index Key
EntityCentralIndexKey
0001759546
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Security Exchange Name
SecurityExchangeName
NONE
CY2023Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.067
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
0
us-gaap Depreciation
Depreciation
0
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.067
CY2023Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.067
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38821
dei Entity Registrant Name
EntityRegistrantName
NU RIDE INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
83-2533239
dei Entity Address Address Line1
EntityAddressAddressLine1
1700 Broadway, 19th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10019
dei City Area Code
CityAreaCode
212
dei Local Phone Number
LocalPhoneNumber
202-2200
dei Security12b Title
Security12bTitle
Class A common stock
dei Trading Symbol
TradingSymbol
NRDE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
true
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16096296
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20943000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87096000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
41309000
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
393000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2825000
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1068000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2218000
CY2024Q2 us-gaap Assets Current
AssetsCurrent
63713000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
92139000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
30000
CY2024Q2 us-gaap Assets
Assets
63713000
CY2023Q4 us-gaap Assets
Assets
92169000
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
333000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
933000
CY2024Q2 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
1111000
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
12815000
CY2024Q2 nrde Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
281000
CY2023Q4 nrde Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
1650000
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1725000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
15398000
CY2024Q2 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
19367000
CY2023Q4 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
30467000
CY2024Q2 us-gaap Liabilities
Liabilities
21092000
CY2023Q4 us-gaap Liabilities
Liabilities
45865000
CY2024Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
12000000
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
12000000
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
300000
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
300000
CY2024Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
300000
CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
300000
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
34078000
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
32755000
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16096296
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16096296
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15953212
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15953212
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
24000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
24000
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1185793000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1183804000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1177274000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1170279000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
8543000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
13549000
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
63713000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
92169000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2151000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2340000
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
60739000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
91550000
CY2024Q2 nrde Selling General And Administrative Income Expense
SellingGeneralAndAdministrativeIncomeExpense
1482000
CY2023Q2 nrde Selling General And Administrative Income Expense
SellingGeneralAndAdministrativeIncomeExpense
57688000
nrde Selling General And Administrative Income Expense
SellingGeneralAndAdministrativeIncomeExpense
6725000
nrde Selling General And Administrative Income Expense
SellingGeneralAndAdministrativeIncomeExpense
72375000
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12303000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26728000
CY2024Q2 nrde Legal And Litigation Accruals
LegalAndLitigationAccruals
-2015000
nrde Legal And Litigation Accruals
LegalAndLitigationAccruals
-2559000
us-gaap Debtor Reorganization Items Other Expense Income
DebtorReorganizationItemsOtherExpenseIncome
4785000
CY2023Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
25041000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
139481000
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
-533000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
95032000
us-gaap Operating Expenses
OperatingExpenses
8951000
us-gaap Operating Expenses
OperatingExpenses
238584000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
533000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-153620000
us-gaap Operating Income Loss
OperatingIncomeLoss
-8951000
us-gaap Operating Income Loss
OperatingIncomeLoss
-327794000
CY2023Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2609000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2609000
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-65000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
93000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-163000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
157000
CY2024Q2 nrde Investment And Interest Income Expense Nonoperating Net
InvestmentAndInterestIncomeExpenseNonoperatingNet
1010000
CY2023Q2 nrde Investment And Interest Income Expense Nonoperating Net
InvestmentAndInterestIncomeExpenseNonoperatingNet
1645000
nrde Investment And Interest Income Expense Nonoperating Net
InvestmentAndInterestIncomeExpenseNonoperatingNet
2119000
nrde Investment And Interest Income Expense Nonoperating Net
InvestmentAndInterestIncomeExpenseNonoperatingNet
4036000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1478000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-154491000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6995000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-326210000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1478000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-154491000
us-gaap Net Income Loss
NetIncomeLoss
-6995000
us-gaap Net Income Loss
NetIncomeLoss
-326210000
CY2024Q2 nrde Dividend Preferred Stock
DividendPreferredStock
668000
CY2023Q2 nrde Dividend Preferred Stock
DividendPreferredStock
-618000
nrde Dividend Preferred Stock
DividendPreferredStock
1323000
nrde Dividend Preferred Stock
DividendPreferredStock
-1223000
CY2024Q2 nrde Net Income Loss To Common Shareholders
NetIncomeLossToCommonShareholders
810000
CY2023Q2 nrde Net Income Loss To Common Shareholders
NetIncomeLossToCommonShareholders
-153873000
nrde Net Income Loss To Common Shareholders
NetIncomeLossToCommonShareholders
-8318000
nrde Net Income Loss To Common Shareholders
NetIncomeLossToCommonShareholders
-324987000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.39
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-20.39
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16096000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15940000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16014000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15936000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17537000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15940000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16014000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15936000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
7710000
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
23000
CY2024Q2 nrde Adjustments To Additional Paid In Capital Temporary Equity Dividend Accretion
AdjustmentsToAdditionalPaidInCapitalTemporaryEquityDividendAccretion
668000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1478000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
8543000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
181815000
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-20000
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2284000
CY2023Q2 nrde Adjustments To Additional Paid In Capital Temporary Equity Dividend Accretion
AdjustmentsToAdditionalPaidInCapitalTemporaryEquityDividendAccretion
617000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-154491000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
28971000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
13549000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-106000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3418000
nrde Adjustments To Additional Paid In Capital Temporary Equity Dividend Accretion
AdjustmentsToAdditionalPaidInCapitalTemporaryEquityDividendAccretion
1323000
us-gaap Net Income Loss
NetIncomeLoss
-6995000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
8543000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
351771000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-65000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4698000
nrde Adjustments To Additional Paid In Capital Temporary Equity Dividend Accretion
AdjustmentsToAdditionalPaidInCapitalTemporaryEquityDividendAccretion
1223000
us-gaap Net Income Loss
NetIncomeLoss
-326210000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
28971000
us-gaap Profit Loss
ProfitLoss
-6995000
us-gaap Profit Loss
ProfitLoss
-326210000
us-gaap Share Based Compensation
ShareBasedCompensation
3418000
us-gaap Share Based Compensation
ShareBasedCompensation
4698000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2609000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
139481000
nrde Depreciation Depletion And Amortization Of Plant And Property
DepreciationDepletionAndAmortizationOfPlantAndProperty
54308000
us-gaap Inventory Write Down
InventoryWriteDown
24105000
nrde Other Non Cash Changes
OtherNonCashChanges
-1761000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10537000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3612000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4596000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-600000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5997000
nrde Accrued Legal And Professional Expenses Credits
AccruedLegalAndProfessionalExpensesCredits
-11704000
nrde Accrued Legal And Professional Expenses Credits
AccruedLegalAndProfessionalExpensesCredits
39396000
nrde Increase Decrease In Accrued Liabilities And Due To Related Party
IncreaseDecreaseInAccruedLiabilitiesAndDueToRelatedParty
-12469000
nrde Increase Decrease In Accrued Liabilities And Due To Related Party
IncreaseDecreaseInAccruedLiabilitiesAndDueToRelatedParty
-380000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24738000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-75692000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10188000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
32147000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
112203000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
198000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
70066000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
106000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-106000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-24844000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5626000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87096000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121358000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62252000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115732000
nrde Noncash Or Part Noncash Acquisition Fixed Assets Acquired Via Debt
NoncashOrPartNoncashAcquisitionFixedAssetsAcquiredViaDebt
321000
nrde Payment For Debtor Reorganization Items
PaymentForDebtorReorganizationItems
16559000
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
20900000
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
41300000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1200000000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1500000
us-gaap Net Income Loss
NetIncomeLoss
-7000000.0
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;padding-bottom:10pt;margin:0pt;"><i style="font-style:italic;font-weight:normal;">Use of Estimates in Financial Statement Preparation</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 10pt 0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">The preparation of condensed consolidated financial statements in accordance with GAAP is based on the selection and application of accounting policies that require us to make significant estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements, and related disclosures in the accompanying notes to the financial statements. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of changes are reflected in the condensed consolidated financial statements in the period they are determined to be necessary. The Chapter 11 Cases may result in ongoing, additional changes in facts and circumstances that may cause the Company’s estimates and assumptions to change, potentially materially. The Company undertakes no obligation to update or revise any of the disclosures, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 10pt 0pt;">There have been no material changes to the critical accounting policies and estimates described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.</p>
CY2024Q2 nrde Percentage Of Emerging Entity S Voting Shares To Be Received By Existing Voting Shareholders Immediately Prior To Confirmation
PercentageOfEmergingEntitySVotingSharesToBeReceivedByExistingVotingShareholdersImmediatelyPriorToConfirmation
0.50
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q2 nrde Reserve For Claims Of General Unsecured Creditors
ReserveForClaimsOfGeneralUnsecuredCreditors
45000000
CY2024Q2 us-gaap Escrow Deposit
EscrowDeposit
34800000
CY2024Q2 nrde Reserve For Claims Of General Unsecured Creditors
ReserveForClaimsOfGeneralUnsecuredCreditors
45000000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20943000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87096000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
41309000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62252000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87096000
us-gaap Inventory Write Down
InventoryWriteDown
0
CY2024Q2 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
25000000.0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
139500000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><i style="font-family:'Arial','Helvetica','sans-serif';font-style:italic;">Warrants</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">The Company accounted for its warrants in accordance with the guidance contained in Accounting Standards Codification 815: Derivatives and Hedging (“ASC 815”) 815-40-15-7D and 7F under which the warrants did not meet the criteria for equity treatment and were recorded as liabilities at their fair value at each reporting period. Any change in fair value was recognized in the statement of operations. As a result of the Chapter 11 Cases, the fair value of the Company’s warrants was deemed to be </span><span style="font-family:'Arial','Helvetica','sans-serif';">zero</span><span style="font-family:'Arial','Helvetica','sans-serif';"> and adjusted accordingly as of June 30, 2023.The fair value of the Company’s warrants is currently deemed to be </span><span style="font-family:'Arial','Helvetica','sans-serif';">zero</span><span style="font-family:'Arial','Helvetica','sans-serif';">.</span></p>
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
0
CY2023 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
0
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
CY2024Q2 nrde Debtor Reorganization Items Number Of Vehicles Repurchased And Sold
DebtorReorganizationItemsNumberOfVehiclesRepurchasedAndSold
3
CY2024Q2 nrde Debtor Reorganization Items Number Of Vehicles Repurchased And Sold
DebtorReorganizationItemsNumberOfVehiclesRepurchasedAndSold
3
us-gaap Debtor Reorganization Items Other Expense Income
DebtorReorganizationItemsOtherExpenseIncome
4800000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Reclassifications</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt;">Certain reclassifications have been made in the presentation of the prior period balance sheet related to prepaid expenses, prepaid insurance, and other current assets as well as to the prior period statement of cash flows </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">related to accrued legal and professional and accrued expenses and other liabilities to conform with the June 30, 2024 presentation.</p>
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-61000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
424000
CY2023Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
23700000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
133500000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
133500000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2023Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
23700000
us-gaap Depreciation
Depreciation
133500000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
133500000
CY2024Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2024Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
34100000
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
32800000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
30000000.0
CY2024Q2 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
30000000.0
CY2024Q2 nrde Shares Authorized Common And Preferred
SharesAuthorizedCommonAndPreferred
462000000
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2024Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
12000000
CY2024Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1441000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1468000
nrde Termination Period For Options Not Exercised Upon Officer S Or Director S Termination
TerminationPeriodForOptionsNotExercisedUponOfficerSOrDirectorSTermination
P3M
nrde Shares Issued For Awards Vested During Pendency Of Chapter11 Cases
SharesIssuedForAwardsVestedDuringPendencyOfChapter11Cases
101947
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
102889
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
2600000
CY2024Q1 nrde Share Based Payment Arrangement Non Accelerated Cost
ShareBasedPaymentArrangementNonAcceleratedCost
800000
nrde Bankruptcy Claims Amount Of Claims That Do Not Reflect Potential Material Government Claims
BankruptcyClaimsAmountOfClaimsThatDoNotReflectPotentialMaterialGovernmentClaims
23100000
nrde Bankruptcy Claims Asserted Claims For Liquidated Portion Of Indemnification Obligations
BankruptcyClaimsAssertedClaimsForLiquidatedPortionOfIndemnificationObligations
7200000
CY2024Q2 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
19400000
CY2023Q4 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
30500000
nrde Loss Contingency Number Of Subpoenas Received
LossContingencyNumberOfSubpoenasReceived
2
us-gaap Bankruptcy Claims Amount Of Claims Filed
BankruptcyClaimsAmountOfClaimsFiled
45000000.0
nrde Number Of Vehicles Repurchased
NumberOfVehiclesRepurchased
35
nrde Number Of Still In Use Vehicles Repurchased
NumberOfStillInUseVehiclesRepurchased
3
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001558370-24-012064-index-headers.html Edgar Link pending
0001558370-24-012064-index.html Edgar Link pending
0001558370-24-012064.txt Edgar Link pending
0001558370-24-012064-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tmb-20240630.xsd Edgar Link pending
tmb-20240630x10q.htm Edgar Link pending
tmb-20240630xex10d1.htm Edgar Link pending
tmb-20240630xex10d2.htm Edgar Link pending
tmb-20240630xex31d1.htm Edgar Link pending
tmb-20240630xex32d1.htm Edgar Link pending
tmb-20240630_lab.xml Edgar Link unprocessable
tmb-20240630_pre.xml Edgar Link unprocessable
tmb-20240630x10q_htm.xml Edgar Link completed
tmb-20240630_cal.xml Edgar Link unprocessable
tmb-20240630_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable