Faraday Future Intelligent Electric Inc. Q3 FY2025 earnings call

1. S1 User Ecosystem: Global launch of FX Super One in LA on July 17, secured over 11,000 paid nonbinding preorders. Signed multiple preorder agreements with B2B partners like Ariana Motors, ALPS, Space Auto, etc. More than 11,000 B2B nonbinding preorders for FX Super One. 2. S2 and S3 Product and Technology: Advancing FF 91 and FX Super One. B-pillar AI system to have intuitive gesture control. More than half of FMVSS 201U test points completed for FX. Finalized US assembly plant for FX Super One, with components supply underway. Released FF 91 OS version 2.00.58. 3. S4 Supply Chain, Industrialization and Delivery: FX Super One entered trial preproduction phase in Hanford, CA. Signed procurement agreement for first batch of parts. Construction at Ras Al Khaimah facility progressing. 4. S5 Financial Strategy and Capital Markets: Continued stock purchase program. Secured ~$82 million of ~$136 million financing commitments. Completed NASDAQ 1-year compliance monitor period. Invested ~$30 million in Qualigen Therapeutics. 5. S6 Middle East and China: FX Super One launch in UAE on Oct 28, received nonbinding preorders from 3 B2C customers for over 200 units. 6. S7 Operations System Buildup: Invested in Collagen Therapeutics. Welcomed new senior leaders in supply chain, legal, IR, etc. Engaged strategic advisers like Chris Nixon Cox.

In the third quarter of 2025, the loss from operations was $206.8 million compared to $25.2 million in the same period of 2024. For the 9 months ended September 30, 2025, operating cash outflow totaled $79.2 million, an increase from $51.8 million in the same period of 2024. Financing activities generated $135.8 million in net cash inflows during the 9 months, a 144% increase from the prior year. Net assets decreased due to realignment of asset values based on updated operational plans, and total liabilities grew by approximately $47.2 million over 9 months, with mark-to-market changes in existing convertible instruments contributing to the liability increase.

1. S1 User Ecosystem: On track to deliver additional FF 91 2.0 Futurist Alliance unit in Dec. Expanding FX Pars to new states like NJ, FL, WA. Focus on enhancing user experience for FF 91 and FX Super One. 2. S2 and S3 Product and Technology: Continue building R&D capability, transfer core tech from FF 91 to FX. Expect to complete FMVSS tests for FX Super One. 3. S4 Supply Chain, Industrialization and Delivery: Accelerate logistics and supply chain, release first version of manufacturing management system. Plan to show FX 4 redesign rendering at LA Auto Show. 4. S5 Financial Strategy: Be opportunistic in fundraising, evaluate funding channels. 5. S6 Middle East and China: First FX Super One delivery in UAE in Nov. 6. S7 Operations System: Strengthen expertise in various areas, solidify compliance, improve operational efficiency.

1. Tariffs could impact costs, but local production in US and FX bridge strategy aim to mitigate. 2. Market uncertainties and changes in regulatory policies could affect product launch and sales. 3. Dependence on preorders and ability to convert them to firm orders within expected timelines.

Q: What are the key features of FX Super One?

A: FX Super One is an EAI MPV with super EAI FACE system, zero gravity NAPPA leather seats, purification system, dual power options (AI HER hybrid and AI EV), expansive design, and 360-degree intelligent safety.

Q: How many preorders has the company received to date? And when will they turn into firm orders?

A: As of Oct 28, over 11,000 B2B nonbinding preorders for FX Super One and ~250 B2C nonbinding preorders. Preorders will convert to binding sales orders ahead of vehicle availability.

Q: Update on tariff impact. How much will it increase costs for next year? How are you mitigating it?

A: Tariffs affect the US auto industry. FF operates factory in Hanford, CA with SKD capacity up to 30,000 vehicles. As components localize, reliance on imports decreases. Impact of tariffs on costs over next 12 months manageable. Engaging with policymakers for supportive tariff measures.

Q: Following the UAE launch, what initial reservation volumes have you seen? And what is your business strategy in the UAE?

A: Received B2B preorders for over 200 Super One units in UAE. Strong support from high-value co-creators. Business strategy includes using local partner network for preorders and leveraging government support for crypto-related business.