Core Insights - Lucid Group reported a first-quarter 2025 loss of 24 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 23 cents but narrower than the loss of 30 cents in the same period last year. Revenues reached $235.05 million, falling short of the consensus estimate of $236.10 million but showing a year-over-year increase of 36% due to stronger vehicle deliveries [1]. Group 1: Production and Deliveries - Lucid produced a total of 2,212 units and delivered 3,109 units of Lucid Air in the quarter, marking a 58% increase from the previous year [2]. - The total gross loss for the quarter was $228.5 million, an improvement from a gross loss of $232 million in the prior-year quarter. The gross margin was negative 97%, compared to negative 134.5% in the same quarter last year [2]. Group 2: Expenses and Cash Flow - Total operating expenses were $463.4 million, down from $497.8 million in the prior-year quarter. Research and development expenses were $251.2 million, reduced from $284.6 million in the first quarter of 2024. Selling, general, and administrative expenses were $212.2 million, slightly down from $213.2 million in the year-ago quarter [3]. - The adjusted EBITDA was a negative $563.5 million, an improvement from negative $598.4 million in the first quarter of 2024. Net cash used in operating activities was $428.6 million, down from $516.7 million in the previous year. Capital expenditures were $161.2 million, compared to $198.2 million in the same period last year. Free cash flow was a negative $589.8 million [4]. Group 3: Liquidity and Future Outlook - As of March 31, 2025, Lucid had $1.85 billion in cash and cash equivalents, up from $1.6 billion at the end of 2024. The company ended the first quarter with $5.76 billion in total liquidity, and long-term debt remained at $2 billion [5]. - For 2025, Lucid expects to produce approximately 20,000 vehicles [5].

Core Viewpoint - Lucid Group reported a quarterly loss of $0.24 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.23, but an improvement from a loss of $0.30 per share a year ago [1][2] Financial Performance - The company posted revenues of $235.05 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.45%, but showing an increase from $172.74 million in the same quarter last year [2] - Over the last four quarters, Lucid Group has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.26 on revenues of $303.75 million, and for the current fiscal year, it is -$0.93 on revenues of $1.29 billion [7] Stock Performance - Lucid Group shares have declined approximately 21.9% since the beginning of the year, compared to a decline of 3.9% for the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Automotive - Domestic industry, to which Lucid Group belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Lucid Group's stock performance [5]

Financial Data and Key Metrics Changes - In Q1 2025, the company produced 2,212 vehicles, a 28% year-over-year increase, and delivered 3,109 vehicles, up more than 58% year-over-year, marking the fifth consecutive quarter of record deliveries [6][32] - Total revenue for the quarter was $235 million, representing a 36% growth year-over-year [33] - Gross margin improved significantly, with Q1 gross margin at negative 97.2%, up from negative 134.3% in the prior year quarter [33] - Adjusted EBITDA in Q1 was negative $563 million, an improvement of 2% versus Q4 [36] - The company ended Q1 with approximately $4.56 billion in cash and investments, and total liquidity of $5.76 billion [36][40] Business Line Data and Key Metrics Changes - The Lucid Air remained the number one best-selling EV and the third best-selling sedan overall in its segment in the U.S. [8] - The Lucid Gravity is generating strong interest, with over three-quarters of orders coming from new customers [12] Market Data and Key Metrics Changes - The company experienced significant year-over-year improvements in gross margin, driven by higher regulatory credit revenue and cost management [7][33] - The Lucid Gravity campaign reached over 11 million people on social media, significantly increasing brand awareness [10] Company Strategy and Development Direction - The company is focused on building a vertically integrated enterprise designed to lead in the next era of mobility, emphasizing technology-driven and capital-disciplined growth [42] - The company plans to ramp up marketing campaigns throughout 2025 and has signed a global ambassador to enhance brand visibility [12] - The company is exploring strategic adjustments to align with changing market conditions, including vehicle price changes and tariff risk mitigation [25][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty in the market due to tariffs and supply chain challenges but expressed confidence in the company's ability to navigate these issues [21][39] - The company forecasts production of approximately 20,000 vehicles in 2025, despite market uncertainties [40] - Management emphasized the importance of maintaining balance sheet strength while minimizing shareholder dilution [32] Other Important Information - The company completed a convertible notes offering with strong support from the public investment fund, extending liquidity into the second half of 2026 [32] - The company is in advanced discussions with partners regarding technology access and licensing, indicating a growing interest in its EV technology [14] Q&A Session Summary Question: Can the midsize rollout and ramp be accelerated due to the acquisition of the Nikola factory? - Management clarified that while the acquisition was financially attractive, accelerating the midsize rollout is not feasible due to the complexities involved [45][48] Question: Are there plans for Lucid to sell or lease its technology to other car manufacturers? - Management confirmed that discussions are ongoing with various OEMs regarding technology licensing, emphasizing the strategic intent behind the company's name change to Lucid Group [49] Question: What is the impact on Lucid's supply chain due to Chinese curbs on rare earth material exports? - Management reiterated the importance of vertical integration, which allows the company to have more control over components and mitigate supply chain risks [50] Question: Is it fair to say that Lucid lacks urgency regarding production ramp and deliveries? - Management emphasized the importance of quality over speed, stating that they are focused on delivering high-quality vehicles rather than rushing production [52] Question: Can you provide an update on test drives and order perspectives for the Gravity? - Management reported strong order inflow and plans to roll out test drives as vehicles meet quality standards [56] Question: What is the plan to address the convertible bonds maturing in 2026? - Management indicated that they will remain opportunistic regarding financing and timing for addressing convertible bonds [71]

Financial Data and Key Metrics Changes - In Q1 2025, the company produced 2,212 vehicles, a 28% year-over-year increase, and delivered 3,109 vehicles, up more than 58% year-over-year [5][31] - Total revenue for the quarter was $235 million, representing a 36% growth year-over-year [31] - Gross margin improved significantly, with Q1 gross margin at negative 97.2%, up from negative 134.3% in the prior year quarter [31] - Adjusted EBITDA in Q1 was negative $563 million, an improvement of 2% versus Q4 [34] Business Line Data and Key Metrics Changes - The Lucid Air was named the Best Luxury Electric Car for the fourth consecutive year and remained the number one best-selling EV in the U.S. [6][7] - The Lucid Gravity is generating strong interest, with over three-quarters of orders coming from new customers [11][12] Market Data and Key Metrics Changes - The company faced temporary systems issues in Saudi Arabia that have now been resolved, impacting delivery numbers [31] - The company is seeing increased interest in its technology access and licensing business, with ongoing discussions with various OEMs [13][14] Company Strategy and Development Direction - The company aims to rewrite the EV playbook with the Lucid Air and Lucid Gravity, focusing on innovation and technology leadership [26] - There is a strong emphasis on vertical integration to maintain control over components and mitigate tariff impacts [22][23] - The company is exploring strategic adjustments to align with changing market conditions, including potential vehicle price changes and supply chain bifurcation [24][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the macroeconomic environment and its potential impact on financial performance, particularly regarding tariffs [19][37] - The company is optimistic about its production target of approximately 20,000 vehicles in 2025, despite market uncertainties [38] - Management emphasized the importance of delivering high-quality vehicles and maintaining a focus on long-term value creation [52][40] Other Important Information - The company completed a convertible notes offering with strong support from the public investment fund, extending liquidity into the second half of 2026 [30] - The recent acquisition of the Nikola factory is expected to mitigate some capital expenditure needs [47] Q&A Session Summary Question: Can the midsize rollout and ramp be accelerated due to the acquisition of the Nikola factory? - Management clarified that while the acquisition is beneficial, accelerating the midsize platform is not feasible due to current uncertainties in tariffs and supply chains [44][46] Question: Are there plans for Lucid to sell or lease its technology to other manufacturers? - Management confirmed that this has always been the plan, with ongoing discussions with various OEMs despite current tariff concerns [48] Question: What is the impact on Lucid's supply chain due to Chinese curbs on rare earth material exports? - Management reiterated the importance of vertical integration, allowing the company to control components and mitigate supply chain risks [49] Question: Does Lucid lack urgency regarding production ramp and deliveries? - Management emphasized the importance of thoughtful execution in bringing high-quality vehicles to market, stating that they are focused on delivering products that meet high standards [51][52] Question: Can you provide an update on the Atlas drivetrain? - Management indicated that an announcement regarding the Atlas drivetrain is expected in the coming months [57] Question: How should investors think about the breakdown between sedans and the Gravity in terms of production and deliveries? - Management expects the Lucid Air to maintain steady sales, with the majority of growth coming from the Gravity [61][62]

Financial Data and Key Metrics Changes - In Q1 2025, the company produced 2,212 vehicles, a 28% year-over-year increase, and delivered 3,109 vehicles, up more than 58% year-over-year, marking the fifth consecutive quarter of record deliveries [6][32] - Total revenue for the quarter was $235 million, representing a 36% growth year-over-year, with $31.5 million recognized in regulatory credit revenue [33] - The GAAP gross margin improved to negative 97.2%, up from negative 134.3% in the prior year quarter, reflecting higher regulatory credit revenue and cost management [33][34] - Adjusted EBITDA was negative $563 million, an improvement of 2% versus Q4 [36] Business Line Data and Key Metrics Changes - The Lucid Air remained the number one best-selling EV and the third best-selling sedan overall in its segment in the U.S. [8] - The Lucid Gravity is generating strong interest, with over three-quarters of orders coming from new customers [12] Market Data and Key Metrics Changes - The company experienced significant demand for the Lucid Air, which was named Best Luxury Electric Car for the fourth consecutive year [7][8] - The marketing campaign for the Lucid Gravity reached over 11 million people on social media, significantly increasing brand awareness [10] Company Strategy and Development Direction - The company is focused on building a vertically integrated enterprise designed to lead in the next era of mobility, with plans to expand its vehicle lineup with a mid-sized platform scheduled for production in late 2026 [41][42] - The company is exploring strategic adjustments to align with changing market conditions, including vehicle price changes and tariff risk mitigation [25][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty in the market due to tariffs and supply chain issues but expressed confidence in the company's ability to navigate these challenges [21][39] - The company aims to produce approximately 20,000 vehicles in 2025, despite market uncertainties [40] Other Important Information - The company completed a convertible notes offering with strong support from the public investment fund, extending liquidity into the second half of 2026 [32] - The acquisition of the Nikola factory is expected to mitigate some capital expenditure needs [48] Q&A Session Summary Question: Can the midsize rollout and ramp be accelerated due to the acquisition of the Nikola factory? - Management clarified that while the acquisition is beneficial, the timeline for the midsize platform remains late 2026 due to complexities in sourcing and tariffs [45][46] Question: Are there plans for Lucid to sell or lease its technology to other manufacturers? - Management confirmed ongoing discussions with various OEMs regarding technology licensing, emphasizing the strategic direction of Lucid Group [49] Question: What is the impact on Lucid's supply chain due to Chinese curbs on rare earth material exports? - Management highlighted the importance of vertical integration, allowing the company to mitigate risks associated with rare earth material shortages [50][51] Question: Is it fair to say that Lucid lacks urgency regarding production ramp and deliveries? - Management emphasized the importance of quality over speed, stating that they are focused on delivering high-quality vehicles despite some supply chain bottlenecks [52][53] Question: Can you provide an update on test drives and order perspectives for the Gravity? - Management reported strong order inflow and plans to roll out test drives as vehicles meet quality standards [56][57] Question: What is the plan to address the convertible bonds maturing in 2026? - Management stated that they will remain opportunistic regarding financing and timing for addressing convertible bonds [70][71]

First Quarter 2025 Earnings Release LUCID GROUP, INC. May 6, 2025 FIRST QUARTER 2025 EARNINGS RELEASE Forward Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (MARK ONE) or x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Delaware 85-0891392 (State or other jurisdiction ...

Produced 2,212 vehicles in Q1, excluding over 600 vehicles in transit to Saudi Arabia for factory gating Delivered 3,109 vehicles in Q1; up 58.1% compared to Q1 2024 Q1 revenue of $235.0 million GAAP net loss per share of $(0.24); non-GAAP net loss per share of $(0.20) Ended the quarter with approximately $5.76 billion in total liquidityNEWARK, Calif., May 6, 2025 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced financial results for it ...

Company Announcement - Lucid Group, Inc. announced production and delivery totals for Q1 2025 on April 2, 2025[7]. - The press release detailing these figures is attached as Exhibit 99.1[9]. - The report was signed by Taoufiq Boussaid, Chief Financial Officer, on behalf of Lucid Group, Inc.[13]. Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, indicating compliance with regulatory requirements[8]. - The company is not classified as an emerging growth company under the Securities Act of 1933[5]. - The financial statements and exhibits are not deemed "filed" for liability purposes under the Exchange Act[8]. Report Details - The address of the principal executive offices is 7373 Gateway Boulevard, Newark, CA 94560[3]. - The filing date of the report is April 2, 2025[12]. - The document includes an interactive data file as part of the exhibits[9]. - The report does not provide specific financial metrics or performance indicators in the extracted content[7].

Core Insights - Lucid Group has strengthened its executive leadership team to drive future growth and enhance its position in the electric vehicle market [1][2] Leadership Appointments - Akerho "AK" Oghoghomeh has been appointed as Senior Vice President of Marketing, bringing experience from building brands like Red Bull to enhance Lucid's marketing initiatives and global growth [2] - Jason Ryska joins as Vice President of Global Manufacturing Engineering, with over 30 years of experience in automotive manufacturing from companies like Fiat Chrysler and Ford [3] - Dr. Kay Stepper, with over 30 years in the automotive sector, has been appointed Vice President of Advanced Driver-Assistance Systems and Autonomous Driving, previously serving at Qualcomm and Bosch [4] - Adrian Price, also with over 30 years of experience, joins as Senior Vice President of Operations from Ford, focusing on production ramp-up and manufacturing efficiencies [5] - Erwin Raphael, Vice President of Revenue, has extensive automotive experience and previously worked at Amazon and Genesis Motor North America [6] - Gemma Parker, Vice President of Program Management, has a background in vehicle line direction at Rivian and experience at McLaren and DRÄXLMAIER Group [7] Company Overview - Lucid Group is a technology company based in Silicon Valley, focused on creating advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, known for their performance, design, and energy efficiency [8]