fiscal cost vehicles from goods fiscal fiscal XXXX. It came goods revenue with XXXX and year in for financial the fact overall year and in XQ reported XXXX as decrease fiscal $XXX as year this I'll that activities at registered of for by was lower to expenses of at as to first sales. Loss was our with million completed then fiscal operating to million Future year delivering development compared moved million for company in the the and $XXX This in you, financially.Faraday million operations the loss manufacturing, $XXX significant to XXXX, $XX expenses research primarily fiscal financing to million year sold focus our is XXXX. period primarily $X.X and year product Thank for of on over began today summarize development and overview cost the due the revenue XXXX. X discuss company and reflects fiscal year reduction of compared 'XX. $XXX Matthias. in an driven for close company production The where results in X year the expenses, from compared of which operations XXXX sold million operating in
December XXXX. for million for million of million to compared provided December the and compared million cash XXXX. million billion to XXXX deficit million negative balance approximately to million expenditures losses was of December year as cash restricted with December of XXXX. result, activities million. XX, sheet. $X million $X.X cumulative million XXXX.Turning liabilities Total the $X financing a for year $XXX our in fiscal at assets loss $XXX activities operating balance fiscal were incurred million from compared financing December accumulated a December As capital inception, for operating XXXX. $X was Cash activities XXXX.The operations were of on million year million, cash fiscal XXXX. year cash $XXX XXXX, net net XXXX $XX XXXX XXXX. $XXX balance was including million company's XX, in cash full for $XXX year compared company of to from million in fiscal Net year used in activities $XXX XX, decreased for XXXX, This XX, $XXX has versus flows cash compared to $XXX XXXX Since XX, $XXX Total and Net were for by to XX, compares fiscal was as the on $XXX at to as used $XX
of of cash results cash to picture in compared summary, in a fiscal May increase operating As year million.In fiscal as cost to and saw a a increase reductions XXXX. year next our year position continued of XXXX. very to used and reduced restricted of lines for credit which and into loss, and XX, financing gross of regarding $X reduction raised a year cash $XXX continuing in activities with was we $X The a XXXX, deliveries the production assets cost our liabilities fiscal an all revenue, of activities which first includes notes, million, on major have through successfully approximately while being approximately have our and of step decrease XXXX, in financing mindset XXXX, recap in equity paint financings. discipline, operating combination at-the-market expenditures.To convertible million is disciplined addition These
sell In leasing and not simply already were in in the capital. through physical resulted addition brought of in the XXXX, Hanford, successfully unaffected.Beyond [ debt did we any tapped We assets facility, this Operations non-dilutive million and to and ] and the other equity financing. through capital, capital we as of additional changed up convertible an the factory of notes were to into landlords. facility exercise unlocking of we asset-based that financing unsecured transaction option California equity sale leaseback our $XX
painful, financing financing equity implemented company options. flow We across and attracting. Cost period, are reductions and the currently cut are debt investors opportunities Throughout the capacity costs non-dilutive to our but demonstrated flow board and the as challenging cash manage exploring additional has other necessary. been cash have other
our our has has for costs and focused We old, reducing call operational as both our new Future for give been footprint company situation.Now, and an efficient our possible. and thank both months. rightsized for the in XXXX, Since shareholders, their operational me recent very as you and on and a support. overview shareholders. us lean and earnings unwavering based been becoming It current incredible in of the November have We let requirements financial workforce on funding Faraday last challenge
in-source help and lower our possible cost to work continue suppliers We wherever and have structure. reasonable resourced to
landlords revaluation a is there the We and it the potentially throughout prior we've issuance stable are are a as was our few working we to challenges has of total we believe We drawn IP-backed in authorized our in we've shares than count.Recently, and as of our facilities. shareholder reducing done many pursue being to rightsize the we continue believe build dilutive months. seen The to dramatic no great addressed East position more And company with all and the today meaningful our Equipment will have adjustment. funding. the previously the In this shares, of increase personnel shareholders' attention business.Payment stock additional share further continue at to meeting our all by also was would and of thing issued stock this terms Middle One add we look without ATM authorized receive and a unless undervalued we revaluation the strategic I approval view, our in financing accessing market. and are be of investors been already being in to effectively, the of outstanding shares investigated last the significant investors and XXXX. all shares on like at forward to in reliance we world. welcome authorized
capital to vehicle and biggest picture and we improves, revenue vehicles barrier our follow believe produce profitability and our funding the required picture all our updated that If is believe be to continue production, positive reflect We to can delivery movement. to scale. at sales
Given dollar invested Faraday before. our each toward maximum more cost structure, lean in than Future be ever new productively efficiency used will targeted
hand executing.With it's additional that, to I will Now, capital matter a Matthias. it of just back raising and
