Faraday Future reports first revenue; Q3 net loss narrows to $78M

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

First quarterly revenue generated; cost of goods sold $16.1M, largely non-cash depreciation.
Operating loss improved to $66.4M from $80.0M YoY; net loss $78.0M vs $119.9M YoY.
Cash $8.6M at Sep 30, 2023; raised $61.8M in Q3 via convertible notes, equity line, and ATM.
Targeting ~1,000 vehicle production in 2024; Phase 3 deliveries to general market by end of Q1 2024.
Named Matthias Aydt as Global CEO; management pledges 50% of 3-month salary to buy stock (subject to approval).

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 third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 13, 2023, Faraday Future Intelligent Electric Inc. (the “Company”) announced its financial results for the third quarter ended September 30, 2023.

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-086153

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