Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) reported second-quarter 2026 revenue of $836,000, up from $54,000 in the same period a year earlier, bringing first-half 2026 revenue to $1.35 million, according to a company press release.

The California-based company, which has shifted its focus toward robotics and embodied AI, reported a net loss of $38.96 million for Q2 2026, compared with a net loss of $124.7 million in Q2 2025. Cost of revenue fell 57% year-over-year to $11.54 million. Total stockholders' equity stood at $1.41 million as of June 30, 2026.

Total liabilities were $278.4 million at the end of Q2 2026, down from approximately $340 million at the end of Q2 2025. The company said that excluding $42.5 million in restricted cash received from new financing and its corresponding liability, the actual debt reduction exceeded $100 million year-over-year. The company generated $76.37 million in net cash from financing activities in the first half of 2026.

Cumulative robotics unit shipments reached 220 for the quarter, with 105 units shipped in June alone. The company said it targets cumulative shipments of more than 2,000 units by year-end and aims to reduce total liabilities to under $100 million within three to four quarters.

Following a 1-for-150 reverse stock split effective July 24, 2026, the company said it received confirmation from Nasdaq that it has regained full minimum bid price compliance.

The company also said it canceled approximately 49.9 million Class A warrants since December 2025 and amended an $82 million convertible note agreement to eliminate volume-weighted average price-based pricing conditions and most warrant issuances. A conversion floor price of $5.00 per share has been set for the substantial majority of outstanding convertible notes.

Faraday Future said it is evaluating independent financing and a potential public listing for its robotics segment.