Faraday Future (FFAI) reported 3Q:25 revenue of $37,000, up from $9,000 a year ago. Coupled with the early stage revenue increase, operating losses widened to $206.8 million, compared to $25.2 million in 3Q:24. Total B2B non-binding pre-orders for FX Super One exceeded 11,000, reflecting strong demand. More than half of FMVSS safety test points have been completed, advancing regulatory readiness. We maintain our 2026 and 2027 revenue estimates of $14.3 million and $105 million, respectively, modelling FFAI sells over 200 units and 1500 units of the FX Super One in 2026 and 2027, respectively. At the end of 3Q:25, FFAI reported $63 million in cash and cash equivalents and $78 million in notes payable. Liquidity improved during the quarter, supported by $80 million in net financing proceeds, significantly above the $28 million raised in the prior-year period. We continue to rate FFAI stock as high-risk, high-reward, as the company's success hinges on its ability to commercialize the FX Super One and scale efficiently