Lucid (NASDAQ:LCID) stock is catching a bid after the electric vehicle (EV) company reported its secondquarter earnings. Lucid also announced that Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund (PIF), has agreed to an investment of $1.5 billion. Ayar is already the largest shareholder of LCID stock. The investment includes the purchase of $750 million of convertible preferred stock through a private placement and another $750 million through an unsecured delayed draw te ...

Khosrork Lucid Group (NASDAQ:LCID) opened its first store in Dubai, where I live, a couple of months ago. Ever since then, I have been waiting to do some research about the company to understand the hype behind its luxury electric vehicles. The company's first showroom in the Middle East was opened in Riyadh, Saudi Arabia, and the expansion into Dubai - home of the luxury car market in the Middle East - marks an important step in its goal of becoming a global EV brand. After a careful evaluation of the Luci ...

Lucid may have gotten the lifeline it needs to survive. Shares of electric vehicle (EV) maker Lucid Group (LCID 2.67%) were popping Tuesday morning after the company released its second-quarter update last night. Revenue beat expectations, but there was an even bigger driver for Lucid shares. After jumping as much as 13.5%, Lucid stock was trading higher by 2.5% as of 10:50 a.m. ET. Investors have been losing confidence that the company would have enough capital to survive long enough to begin selling its G ...

117 11 I Ti F H 7 H 1 r -1.8 H H 1 I ri F Th H th 1 15 1 T n PM Images After the bell on Monday, we received second quarter results from Lucid (NASDAQ:LCID). The luxury electric vehicle maker has been one of the most disappointing names in the market since going public over the years, as it has continually missed growth targets. The company's inability to grow as fast as hoped has resulted in large losses and cash burn, with a repeat of that in Q2 requiring Lucid to again get assistance from an affiliate of ...

Lucid Group Inc (NASDAQ:LCID) stock is 5.5% higher to trade at $3.17 at last check and seeing unusually high options volume after earnings. In addition to a second-quarter revenue beat and reaffirmed outlook of 9,000 EVs produced in 2024, the electric vehicle (EV) name received a $1.5 billion investment from Saudi Arabia's Public Investment Fund to accelerate production of a new SUV. Still deep in penny stock territory, Lucid Group stock is also down over 50% over the last 12 months. Plus, the 280-day movin ...

Real-world data confirms utility of EsoGuard as a non-invasive triage tool to significantly increase positive yield of invasive upper endoscopy NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced the release of new real-world data from its ENVET-BE study supporting the clinical utility of the EsoGuard® Esophageal DNA test as a no ...

Lucid (NASDAQ: LCID) announced its Q2 results in an earnings call on August 5. During the call, it revealed yet another $1.5 billion cash injection from the Saudi Public Investment Fund (PIF). Technical analysis of LCID stock. Source: Trading View LCID stock reacted positively to the news, adding 5.67% in the pre-market trading after suffering losses of 3.85% in the latest trading session, which lowered its price to $3 at the close while reaching $3.39 in the pre-market due to gains. | --- | --- | --- | --- ...

Lucid Group, Inc. (NASDAQ:LCID) Q2 2024 Earnings Conference Call August 5, 2024 5:30 PM ET Company Participants Maynard Um - Senior Director of Investor Relations Peter Rawlinson - Chief Executive Officer and Chief Technology Officer Gagan Dhingra - Interim Chief Financial Officer and Principal Accounting Officer Conference Call Participants John Babcock - Bank of America Stephen Gengaro - Stifel Itay Michaeli - Citi Steven Fox - Fox Advisors Andres Sheppard - Cantor Fitzgerald Tobias Beith - Redburn Atlant ...

Revenue and Financial Performance - Revenue for the three months ended June 30, 2024, was $200,581 thousand, representing a 33% increase compared to $150,874 thousand for the same period in 2023[171]. - Revenue for the six months ended June 30, 2024, was $373,321 thousand, reflecting a 24% increase from $300,306 thousand in the same period last year[172]. - Total other income (expense), net increased by $69.9 million, or 94%, for the six months ended June 30, 2024, compared to the same period in the prior year[185]. - Interest income increased by $15.0 million, or 38%, for the three months ended June 30, 2024, compared to the same period in the prior year[192]. - As of June 30, 2024, the company had an accumulated deficit of $11.5 billion, reflecting significant losses from operations[218]. Cost Management - Cost of revenue decreased by $85,450 thousand or 15% for the three months ended June 30, 2024, compared to $555,805 thousand in the prior year[173]. - Selling, general, and administrative expense increased by $12.5 million, or 6%, for the three months ended June 30, 2024, compared to the same period in the prior year[181]. - Research and development expenses increased by $53,696 thousand or 23% for the three months ended June 30, 2024, compared to $233,474 thousand in the same period last year[176]. - Research and development expense increased by $108.5 million, or 23%, for the six months ended June 30, 2024, compared to the same period in the prior year[179]. Cash Flow and Liquidity - As of June 30, 2024, the company had $3.9 billion of cash, cash equivalents, and investments[195]. - Net cash used in operating activities decreased by $477.9 million to $1,023.7 million during the six months ended June 30, 2024, compared to the same period in the prior year[222]. - Net cash provided by investing activities was $6.3 million during the six months ended June 30, 2024, compared to $466.7 million of net cash used in investing activities for the same period in the prior year[223]. - Net cash provided by financing activities decreased by $2,008.3 million to $999.6 million during the six months ended June 30, 2024, compared to the same period in the prior year[224]. - The company had cash, cash equivalents, restricted cash, and investments totaling $3.9 billion as of June 30, 2024[243]. Inventory and Restructuring - The company recorded inventory write-downs of $154,200 thousand for the three months ended June 30, 2024, a decrease from $295,000 thousand in the same period last year[175]. - The company expects to record total restructuring charges of approximately $21 million to $25 million related to the 2024 Restructuring Plan[183]. Future Plans and Developments - The company expects to launch the Lucid Gravity SUV in late 2024 and the Midsize platform in late 2026, expanding its vehicle lineup[159]. - The company anticipates continued consumer demand for the Lucid Air due to its luxurious design and high-performance technology[165]. - The company anticipates cumulative capital expenditures of approximately $1.3 billion for the fiscal year 2024 to support growth objectives[196]. - The company selected King Abdullah Economic City in Saudi Arabia for its first international manufacturing plant, initially focusing on re-assembly of Lucid Air vehicle kits[199]. Financing and Debt - The Series B Subscription Agreement with Ayar will provide the company with $750 million in gross proceeds, enhancing its financial position[160]. - The company issued $2,012.5 million of the 2026 Notes with an interest rate of 1.25% per annum, maturing on December 15, 2026[198]. - The ABL Credit Facility provides for an initial aggregate principal commitment amount of up to $1.0 billion, with a stated maturity date of June 9, 2027[211]. - The DDTL Credit Facility provides for a delayed draw term loan credit facility in an aggregate principal amount of $750 million, maturing on August 4, 2029[214]. - The company had outstanding borrowings of SAR 256 million (approximately $68.2 million) under the GIB Credit Facility as of June 30, 2024[210]. Market and Economic Conditions - Inflationary pressures have impacted manufacturing costs, with potential increases in capital expenditures as construction progresses on AMP-1 and AMP-2 facilities[169]. - A hypothetical 100 basis point increase in interest rates would result in a $15.1 million incremental decline in the fair market value of the company's portfolio[243]. - The fair value of equity securities held by the company was $51.5 million as of June 30, 2024, with a hypothetical 10% decrease in stock price potentially decreasing the fair value by $5.2 million[244]. - The company is dependent on single-source suppliers, which could materially affect its operations if delivery schedules or quality levels are not met[246].

NEW YORK, Aug. 5, 2024 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that management will participate in the following upcoming investor conferences: 9th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference Dates: August 12-13, 2024 Canaccord Genuity 44th Annual Growth Conference Fireside Chat: Tuesday, August 13, 2024, at 1:30 PM ET The ...