$NRDE
NU RIDE INC.

2024 Q4 Form 10-Q Financial Statement

#000155837024015438 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
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
YoY Change -97.03%
Operating Profit -$519.0K
YoY Change -97.03%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$55.00K
YoY Change -77.08%
Pretax Income $338.0K
YoY Change -102.05%
Income Tax
% Of Pretax Income
Net Earnings $300.0K
YoY Change -101.82%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 16.10M 16.10M
Diluted Shares Outstanding 16.10M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $26.10M
Short-Term Investments
Other Short-Term Assets $930.0K
YoY Change 20.16%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $58.25M
YoY Change -42.19%
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
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $58.25M
Total Long-Term Assets $0.00
Total Assets $58.25M
YoY Change -46.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $437.0K
YoY Change -69.44%
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
YoY Change -92.13%
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
Total Long-Term Liabilities
Total Liabilities $15.25M
YoY Change -75.47%
SHAREHOLDERS EQUITY
Retained Earnings -$1.200B
YoY Change 0.0%
Common Stock $24.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.244M
YoY Change
Total Liabilities & Shareholders Equity $58.25M
YoY Change -46.05%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $300.0K
YoY Change -101.82%
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
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dei Entity File Number
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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
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1700 Broadway, 19th Floor
dei Entity Address City Or Town
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New York
dei Entity Address State Or Province
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NY
dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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202-2200
dei Security12b Title
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Class A common stock
dei Trading Symbol
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NRDE
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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>
CY2024Q3 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
CY2024Q3 nrde Reserve For Claims Of General Unsecured Creditors
ReserveForClaimsOfGeneralUnsecuredCreditors
45000000
CY2024Q3 us-gaap Escrow Deposit
EscrowDeposit
27300000
CY2024Q3 nrde Reserve For Claims Of General Unsecured Creditors
ReserveForClaimsOfGeneralUnsecuredCreditors
45000000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26096000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87096000
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
30925000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57021000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87096000
us-gaap Inventory Write Down
InventoryWriteDown
0
CY2024Q3 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
700000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
140200000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q3 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: </span><i style="font-family:'Arial','Helvetica','sans-serif';font-style:italic;">Derivatives and Hedging</i><span style="font-family:'Arial','Helvetica','sans-serif';"> (“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
CY2024Q3 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
CY2024Q3 nrde Debtor Reorganization Items Number Of Vehicles Repurchased And Sold
DebtorReorganizationItemsNumberOfVehiclesRepurchasedAndSold
3
CY2024Q3 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 September 30, 2024 presentation.</p>
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
700000
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
700000
CY2023Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
700000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2024Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2024Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
34800000
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
32800000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
30000000.0
CY2024Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
30000000.0
CY2024Q3 nrde Shares Authorized Common And Preferred
SharesAuthorizedCommonAndPreferred
462000000
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2024Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
12000000
CY2024Q3 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
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
60700000
CY2024Q3 us-gaap Bankruptcy Claims Amount Of Claims Settled
BankruptcyClaimsAmountOfClaimsSettled
29800000
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
30900000
CY2023Q3 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
29900000
us-gaap Liabilities Subject To Compromise Payments Under Bankruptcy Court Order For Resolutions Of Contingencies Subject To Chapter11
LiabilitiesSubjectToCompromisePaymentsUnderBankruptcyCourtOrderForResolutionsOfContingenciesSubjectToChapter11
16400000
CY2024Q3 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
13500000
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
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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