Faraday Future(US:FFIE)2023-11-14 05:34Business Highlights - Faraday Future delivered the first FF 91 2.0 Futurist Alliance to its first spire user and kicked off its August Developer Co-Creation Festival[41] - The FF 91 2.0 Futurist Alliance Track Edition set a record in its class at Willow Springs, achieving the fastest lap time of 1 minute and 35 seconds[44] - FF 91 2.0 Futurist Alliance broke the fastest lap record in the SUV and crossover categories at Button Willow Raceway Park[44] Financial Performance (Third Quarter 2023) - Auto sales revenue reached $551 thousand[60] - Cost of auto sales revenue was $16131 thousand, resulting in a gross loss of $15580 thousand[60] - Research and development expenses were $21593 thousand[60] - Sales and marketing expenses totaled $5318 thousand[60] - General and administrative expenses amounted to $24023 thousand[60] - Net loss was $78046 thousand, or $378 per share[60] Financial Position (September 30, 2023) - Cash was $6714 thousand and restricted cash was $1853 thousand, totaling $8567 thousand[61,63] - Total current assets were $127301 thousand, including $35215 thousand in inventory and $62556 thousand in deposits[61] - Total assets amounted to $579527 thousand[61] - Total liabilities were $317724 thousand[61] - Total stockholders' equity was $261803 thousand[61]