FF EAI Robotics Ecosystem (NASDAQ:FFR) reaffirmed its target of selling and shipping approximately 2,000 robots in 2026, while executives cautioned that the company will need additional capital and that its third-quarter financial results do not include the robotics business it acquired after the quarter ended.
The company sold and shipped 351 devices in October, bringing cumulative sales and shipments to 1,168, Executive Chairman Jerry Wang said on the earnings call. The totals include periods before FFR completed its all-stock acquisition of FFAI’s robotics business on Oct. 23.
CEO YT Jia said the full-year target applies to the acquired business on a standalone basis and includes positive unit gross margins on deliveries. The guidance is not a forecast for FFR’s consolidated results.
Financial results and capital needs
FFR reported a third-quarter net loss of approximately $2.7 million and ended September with $3.2 million in cash, $6.9 million in total assets and $5 million in stockholders’ equity. Wang said RoboShare, the company’s robot-sharing and service platform, recognized revenue for the first time during the quarter.
The acquisition closed after the reporting period, so the robotics business was excluded from those figures. Wang said the all-stock transaction brought no cash proceeds from the share issuance.
“As disclosed in our Form 10-Q, there is substantial doubt about our ability to continue as a going concern, and we will need to raise additional capital to fund our operations,” Wang said.
On a separate, unaudited combined basis, the acquired robotics business generated approximately $2.3 million in revenue for the first nine months of 2026, including approximately $1.1 million in the third quarter. Its nine-month gross profit was approximately $593,000, or a 26% gross margin, while its net loss was approximately $27.4 million.
Wang said approximately $24.4 million of costs were funded directly by the former parent and recorded as capital contributions. The acquired business used approximately $2.5 million in cash in operating activities during the nine-month period.
As of Sept. 30, the robotics business separately had approximately $4.9 million in cash, $8.2 million in total assets and $1.4 million in liabilities, according to Wang. He said FFR did not assume FFAI’s financing obligations in the acquisition. The company plans to file financial statements for the acquired business and pro forma financial information with the Securities and Exchange Commission.
Products and commercial expansion
FFR’s strategy centers on a shared artificial intelligence and software platform for humanoid robots, quadrupeds and mobile manipulators. Wang said the robotics business has launched more than 20 products across those forms.
In October, the business jointly launched the FF Nova humanoid robot, priced at $2,490, and the Nova Mini for early education, priced at $299. A simulation sandbox for Nova was in beta testing and expected to launch by the end of November, Wang said.
Wang said RoboShare had onboarded 10 third-party companies and more than 100 robots. The platform has deployed robots at paid commercial events, while the company’s security and inspection offering has entered proof of concept with an initial group of customers and partners. Its industrial and logistics work remains at the technical feasibility assessment stage.
The company’s Physical AI Data Factory has delivered training data and received payments, Wang said. A pilot order for a research lab has been completed and is undergoing final evaluation.
Manufacturing and share considerations
Jia said FFR is working toward factory operation by year-end and its first locally produced robot in the United States by the first quarter of 2027. Wang said regulation could affect which products the company can deploy, their timing and costs, and noted that the Federal Communications Commission added foreign-produced advanced robotic devices to its Covered List in July.
FFR issued common shares and non-voting convertible preferred shares as consideration for the acquisition. Wang said conversion of the preferred shares requires stockholder approval, completion of the applicable Regulation 14C process and other conditions.
He added that FFAI’s consideration shares are subject to an 18-month lockup from the closing date, subject to specified exceptions. A previously presented estimate that existing public stockholders represented approximately 11% of the company on an as-converted, fully diluted basis was illustrative and did not represent the current common share count or freely tradable float, he said.
About FF EAI Robotics Ecosystem (NASDAQ:FFR)
FF EAI Robotics Ecosystem (NASDAQ: FFR) is a technology company focused on developing an ecosystem that combines artificial intelligence, electric vehicles and robotics. Its activities are centered on intelligent mobility products, software and related services designed to connect vehicles, users and digital technologies. The company is historically associated with Faraday Future, an electric-vehicle developer known for the FF 91 luxury electric vehicle. The FF 91 was designed as a high-performance, connected vehicle featuring advanced driver-assistance technology, digital services and a premium interior.
