FARADAY FUTURE INTELLIGENT ELECTRIC INC.FFAI

FARADAY FUTURE INTELLIGENT ELECTRIC INC. Earnings Per Share Disclosure

10-KFiled Mar 31, 20252 min read
Net Loss per Share
Net Loss Per Share Attributable to Common Stockholders
Basic net loss per share attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares issued and shares to be issued under the commitment to issue shares, as these shares are issuable for no consideration.
Diluted net loss per share attributable to common stockholders adjusts the basic net loss per share attributable to common stockholders and the weighted-average number of shares issued and shares to be issued under the commitment to issue shares for potentially dilutive instruments.
The following data shows the amounts used in computing net loss per share and the effect on net loss and the weighted-average number of shares for the years ended December 31, 2024, and 2023:
(in thousands, except share and per share amounts)20242023
Net loss$(355,847)$(431,744)
Less: Deemed Dividend(7,576)— 
Net loss available to common stockholders$(363,423)$(431,744)
Weighted average shares used in computing net loss per share of Class A and B Common Stock:
Basic18,529,525 240,869 
Diluted18,529,525 240,869 
Net loss per share of Class A and B Common Stock attributable to common stockholders:
Basic$(19.61)$(1,792.44)
Diluted$(19.61)$(1,792.44)
The net loss per common share was the same for the Class A Common Stock and Class B Common Stock because they are entitled to the same liquidation and dividend rights and are therefore combined in the Consolidated Statements of Operations and Comprehensive Loss.
Potentially Dilutive Shares
The Company reported net losses for all periods presented, resulting in all potentially dilutive Common Stock equivalents being considered antidilutive and excluded from the calculation of net loss per share.
The table below presents the potentially dilutive shares that were excluded from the computation of diluted net loss per share of Common Stock attributable to Common Stock stockholders due to their antidilutive effect as of December 31,:
20242023
Shares issuable upon conversion of SPA Portfolio Notes41,054,586 1,069,202 
Shares issuable upon conversion of Unsecured Convertible Notes749,866 — 
Shares issuable upon exercise of equity classified SPA Portfolio Note warrants15,238 13,906 
Shares issuable upon exercise of liability classified SPA Portfolio Note warrants16,720,384 — 
Other warrants5,776,657 228,482 
Stock-based compensation awards – Options2,591 798 
Stock-based compensation awards – RSUs161,225 2,885 
Public warrants2,453 2,453 
Private warrants12 12 
64,483,012 1,317,738 
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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