10-Q · May 14, 2026
Faraday Future reported a significant increase in Q4 2026 revenue to $129 million, up 244% from $37 million in Q3 2026 and surpassing estimates of $70 million. The company improved its diluted EPS from -1.55 to 0.17,…
Earnings analysis · 10-Q
FFAI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Faraday Future’s Q2 revenue increased to $836,000 from $512,000 in Q1 and $54,000 year over year, while diluted EPS improved to $(17.38), but revenue missed the $2.304 million consensus estimate. The filing indicates…
Read full summary
Faraday Future’s Q2 revenue increased to $836,000 from $512,000 in Q1 and $54,000 year over year, while diluted EPS improved to $(17.38), but revenue missed the $2.304 million consensus estimate. The filing indicates continued financing dependence, including $4.7 million of proceeds received in advance of an SPA note closing and $25.0 million of convertible notes issued during the quarter. The most material new disclosures are 3 unresolved internal-control weaknesses and heightened FCC restrictions affecting future foreign-produced robotics products; no quantified guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-17.38
What stood out
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Revenue grew; EPS loss improved
Q2 revenue was $836,000, up from $512,000 in Q1 2026 and $54,000 in Q2 2025, but below the $2.304 million consensus estimate. Diluted EPS was $(17.38), improving from $(27.00) in Q1 2026 and $(180.00) in Q2 2025.
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Management has begun control remediation
The company reported that disclosure controls were ineffective as of June 30, 2026 because of 3 material weaknesses involving complex transactions, accounting policies and financial reporting, and related-party transactions.
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Financing proceeds support liquidity
The company had received $4.7 million in proceeds in advance of the fourth closing of the 2025 March Unsecured SPA Notes; the corresponding notes were reported as outstanding at period end.
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Additional financing and conversions completed
During the quarter, the company issued convertible notes with an aggregate principal amount of $25.0 million, along with 419,464 Class A common shares upon conversion of outstanding convertible notes.
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Reverse stock split completed
The company disclosed a 1-for-150 reverse stock split effected on July 24, 2026, with share amounts retroactively adjusted in the filing.
What to watch
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Robotics demand remains unproven
The filing newly identifies robotics market-development and adoption risk, noting that the industry is at an early stage and that customer demand, pricing, standards, and competitive dynamics have limited historical data. Customer cancellations may lower unit sales and increase inventory, while the company has limited robotics marketing and servicing experience.
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New FCC restrictions threaten launches
On July 28, 2026, the FCC updated its Covered List to include certain foreign-produced advanced robotic devices. Although existing FCC-authorized models are generally not affected, future China-sourced models, upgrades, or successor products may be unable to obtain authorization for U.S. importation, marketing, or sale.
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Unresolved financial-control weaknesses
As of June 30, 2026, 3 material weaknesses remained unresolved. The filing warns that failed remediation could lead to misstatements, regulatory scrutiny, litigation exposure, potential delisting, and adverse effects on the company’s financial condition and stock price.
Management's outlook
The 10-Q does not provide quantified EPS or revenue guidance or state a change to prior guidance. The filing discusses robotics commercialization and regulatory risks but does not provide a numeric outlook.
Earlier filings 4
10-K · March 31, 2026
Faraday Future’s 10-K describes a multi-brand AIEV strategy (FF luxury and FX mass-market Bridge Strategy) with manufacturing at FF aiFactory California and an emerging UAE assembly presence. Results show a clear Q4…
10-Q · November 21, 2025
Faraday Future reported Q3 revenue of $37 and GAAP net loss of $222,187, driving a diluted loss per share of $(1.55). Gross margin was deeply negative at (34,219)/$37 (reported as -92,483.8%) and loss from operations…
10-Q · May 9, 2025
For the first quarter ending March 31, 2025, Faraday Future's revenue was reported at $316,000, a significant increase from $2 in the same period last year. The company reported a diluted EPS of -$0.14 compared to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.