Faraday Future reports Q1 net income of $6.5M, begins FF 91 deliveries end of May

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

2023-Q1 EPS reported -$0.07

Net income $6.5M vs loss of $153.1M YoY; operating expenses fell to $83.0M from $149.0M.
Cash $33.3M at Mar 31; net cash used in operations $103.2M; capex $16.9M.
FF 91 production started Mar 29; first production vehicle rolled off Apr 14; first deliveries targeted end of May.
Secured $135M gross funding in Q1, received $120M; additional $100M committed via unsecured convertible notes on May 9.
Targeting operating cash flow breakeven in 2025; announced Generative AI Product Stack on May 2.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FARADAY FUTURE INTELLIGENT ELECTRIC INC. reported financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 11, 2023, Faraday Future Intelligent Electric Inc. (the “Company”) announced its financial results for the first quarter ended March 31, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-038689

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