After the US stock market closed on May 28th local time, Faraday Future (FF) finally released its delayed 2023 annual report.
According to the annual report, in 2023, Faraday's future revenue was $800000, with a sales cost of $43 million. The revenue and sales cost for the same period last year were both zero; Net loss of $432 million, compared to a net loss of $602 million in 2022.
Faraday Future stated in its financial report that the company may incur unforeseeable expenses or encounter difficulties and delays in delivering the FF 91 series, so it may never be able to generate enough revenue to sustain its operations. Although the FF 91 series has started delivery, due to insufficient demand for the FF 91 series and its related services, vehicle service and warranty costs, intensified competition, macroeconomic environmental challenges, regulatory changes, and other risks, FF may never be able to achieve or maintain profitability.
According to the financial report, in 2023, Faraday Future sold a total of 4 FF 91 Futurists and rented 6 of them.
Company Announcement
Recently, Faraday's future stock price has suddenly skyrocketed. In the absence of any positive news, from May 13th to May 17th, Faraday's future stock price rose from $0.048 per share to a peak of $3.9 per share, with an amplitude of 8380%. Even considering the pullback in the past week, as of the closing of the US stock market on May 28th, Faraday's future stock price increase since May has exceeded 2500%. Previously, Nasdaq had made several delisting decisions due to delayed annual reports and low stock prices.
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