Lordstown Motors Corp. (RIDE) Financial Statements (2024 and earlier)

Company Profile

Business Address 2300 HALLOCK YOUNG ROAD
LORDSTOWN, OH 44481
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3711 - Motor Vehicles and Passenger Car Bodies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:221,700244,016629,7611,070
Cash and cash equivalents121,358244,016629,7611,070
Short-term investments 100,297   
Other undisclosed cash, cash equivalents, and short-term investments45   
Receivables   21 
Inventory, net of allowances, customer advances and progress billings 13,672   
Inventory 13,672   
Prepaid expense   97
Other current assets    
Other undisclosed current assets20,50347,12124,66353
Total current assets:255,875291,137654,4451,220
Noncurrent Assets
Property, plant and equipment 193,780382,746101,663 
Intangible assets, net (including goodwill), including:  1,00011,111 
Other undisclosed intangible assets, net (including goodwill)  1,00011,111 
Other noncurrent assets2,65713,900  
Other undisclosed noncurrent assets   283,582
Total noncurrent assets:196,437397,646112,774283,582
TOTAL ASSETS:452,312688,783767,219284,802
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:12,80112,09832,536290
Accounts payable12,80112,09832,536 
Other undisclosed accounts payable and accrued liabilities    290
Other undisclosed current liabilities56,033135,5071,538 
Total current liabilities:68,834147,60534,074290
Noncurrent Liabilities
Long-term debt and lease obligation   1,015 
Long-term debt, excluding current maturities   1,015 
Liabilities, other than long-term debt1,4461,578101,392 
Derivative instruments and hedges, liabilities1,4461,578101,392 
Other undisclosed noncurrent liabilities   9,800
Total noncurrent liabilities:1,4461,578102,4079,800
Total liabilities:70,280149,183136,48110,090
Temporary equity, carrying amount30,261  269,712
Equity
Equity, attributable to parent, including:351,771539,600630,7385,000
Common stock241917 
Additional paid in capital1,178,9601,084,390765,1621,985
Retained earnings (accumulated deficit)(827,213)(544,809)(134,441)3,015
Other undisclosed equity, attributable to parent    1
Total equity:351,771539,600630,7385,000
TOTAL LIABILITIES AND EQUITY:452,312688,783767,219284,802

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues194   
Cost of revenue
(Cost of Goods and Services Sold)
(30,023)   
Gross profit:(29,829)   
Operating expenses(357,475)(400,489)(102,481)(619)
Other undisclosed operating loss    
Operating loss:(387,304)(400,489)(102,481)(619)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
788(10,079)(20,866) 
Interest and debt expense  1,015  
Loss from continuing operations before equity method investments, income taxes:(386,516)(409,553)(123,347)(619)
Other undisclosed income (loss) from continuing operations before income taxes104,112(815)(703)4,548
Income (loss) from continuing operations before income taxes:(282,404)(410,368)(124,050)3,929
Income tax expense    (913)
Income (loss) from continuing operations:(282,404)(410,368)(124,050)3,016
Income (loss) before gain (loss) on sale of properties:(410,368)(124,050)3,016
Net income (loss) attributable to parent:(282,404)(410,368)(124,050)3,016
Preferred stock dividends and other adjustments 261   
Other undisclosed net loss available to common stockholders, basic(522)   
Net income (loss) available to common stockholders, diluted:(282,665)(410,368)(124,050)3,016

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):(282,404)(410,368)(124,050)3,016
Comprehensive income (loss), net of tax, attributable to parent:(282,404)(410,368)(124,050)3,016

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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