Faraday Future Announces Fiscal Fourth Quarter and Full Year 2023 Financial Results
Positive First-year revenue: $0.8 million in 2023. Operating losses reduced to $286 million from $437 million in 2022. Operating expenses significantly reduced to $244 million from $437 million. Net loss improved to $432 million from $602 million. Total assets increased to $531 million from $529 million. Total liabilities reduced to $302 million from $328 million. Net cash used in operating activities decreased to $278 million from $383 million. Capital expenditures down to $31 million from $123 million. Pursuit of additional strategic investors to support future growth. Negative Revenue of only $0.8 million compared to $43 million cost of goods sold. Cash balance dropped to $4 million from $17 million. Withdrawing production target guidance for 2024. Net loss remains high at $432 million. Cash position remains weak at approximately $5 million as of May 23, 2024.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
72779455 : what's ur take? are u in?
Jaguar8 OP 72779455 : Might not take it