XML 26 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities        
Net loss $ (153,098) $ (75,525) $ (516,505) $ (147,085)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation and amortization expense 4,853 988 8,158 3,517
Stock-based compensation 3,347 2,520 11,345 9,505
Vesting of restricted stock awards for employee bonus     18,617  
Loss on disposal of property and equipment   647 64,191 10
Change in fair value measurements (1,186) 26,917 22,700 5,076
Loss upon cancellation of a lease       206
Loss (gain) on foreign exchange 894 (831) (845) 4,108
Gain on forgiveness of accounts payable and loss on write-off of vendor deposits, net     (7,005)  
Non-cash interest expense 2,319 25,131 41,014 66,020
Loss (gain) at settlement of related party notes payable, notes payable, and vendor payables in trust, net     86,904 (2,107)
Gain on forgiveness of vendor payables in trust     (1,731)  
Reserve for unrecoverable value added taxes     6,404  
Loss on extinguishment of related party notes payable, notes payable and vendor payables in trust, net   1,309    
Other 108   842  
Changes in operating assets and liabilities        
Deposits 6,840 (1,025) (48,503)  
Other current and other non-current assets 2,095 (480) (21,717) (3,347)
Accounts payable 5,747 (635) (36,625) 11,500
Accrued expenses and other current liabilities 14,527 665 31,824 11,606
Transfers between vendor payables in trust and accounts payable     1,167 (174)
Operating lease liabilities (882)      
Accrued interest expense (7,928)      
Net cash used in operating activities (122,364) (20,319) (339,765) (41,165)
Cash flows from investing activities        
Payments for property and equipment (44,398) (711) (95,681) (607)
Proceeds from payments on notes receivable       3,600
Net cash used in investing activities (44,398) (711) (95,681) 2,993
Cash flows from financing activities        
Proceeds from issuance of Class A Common Stock in the Business Combination     229,583  
Proceeds from issuance of Class A Common Stock pursuant to the PIPE Financing     761,400  
Transaction costs paid in connection with the Business Combination     (23,148)  
Transaction costs paid in connection with the PIPE Financing     (61,130)  
Proceeds from related party notes payable   200 200 10,556
Proceeds from notes payable, net of original issuance discount   76,140 172,031 40,595
Payments of related party notes payable   (1,528) (38,217) (3,589)
Payments of notes payable, including liquidation premiums     (48,210) (32)
Payments of notes payable issuance costs     (3,355) (4,562)
Payment of payables in vendor payables in trust     (27,722) (4,500)
Transfers between vendor payables in trust and accounts payable     (1,167) 174
Payments of capital lease obligations     (3,212) (1,926)
Payments of notes payable, including Payment Premium (87,065) (3,355)    
Payments of finance lease obligations (466) (1,110)    
Proceeds from exercise of stock options 1,855 2,650 10,587 115
Payments of stock issuance costs     (1,071)  
Net cash (used in) provided by financing activities (85,676) 72,997 966,569 36,831
Effect of exchange rate changes on cash and restricted cash (653) (548) (2,473) (186)
Net (decrease) increase in cash and restricted cash (253,091) 51,419 528,650 (1,527)
Cash and restricted cash, beginning of period 530,477 1,827 1,827 3,354
Cash and restricted cash, end of period 277,386 53,246 530,477 1,827
Cash 505,091 1,124 1,124 2,221
Restricted cash 25,386 703 703 1,133
Total cash and restricted cash, beginning of period 530,477 1,827 1,827 3,354
Cash 276,374 47,525 505,091 1,124
Restricted cash 1,012 5,721 25,386 703
Total cash and restricted cash, end of period 277,386 53,246 530,477 1,827
Supplemental disclosure of noncash investing and financing activities        
Recognition of operating right of use assets and lease liabilities for new leases 8,206      
Conversion of related party notes payable and related party accrued interest to Class A Common Stock     294,796  
Conversion of notes payable and accrued interest to Class A Common Stock     98,375  
Issuance of warrants     17,596 490
Conversion of assumed convertible and promissory notes payable to Class A Common Stock and Private Warrants     1,080  
Conversion of The9 Conditional Obligation to Class A Common Stock     2,863  
Additions of property and equipment included in accounts payable and accrued expenses 1,881   863 3,817
Conversion of related party customer deposit to related party notes payable       11,635
Conversion of The9 Conditional Obligation to equity   2,863    
Supplemental disclosure of noncash investing and financing activities related to the Business Combination        
Exchange of Legacy FF redeemable preference stock for a commitment to issue Class A Common Stock     859,182  
Exchange of Legacy FF convertible preferred stock for a commitment to issue Class B Common Stock     697,611  
Settlement of notes payable and accrued interest for a commitment to issue Class A Common Stock     68,541  
Settlement of related party notes payable and related party accrued interest for a commitment to issue Class A Common Stock     69,218  
Settlement of vendor payable in trust to a commitment to issue Class A Common Stock     96,186  
Reclassification of deferred transaction costs paid in prior periods against the proceeds received in the Business Combination     7,865  
Supplemental disclosure of cash flow information        
Cash paid for interest $ 10,040 $ 772 $ 6,317 $ 3,137