Financial Data and Key Metrics Changes - In Q4 2025, production reached 7,874 vehicles, up 133% year-over-year, while full-year production totaled 70,840 vehicles, up 98% year-over-year [25][26] - Q4 revenue was $522.7 million, up 55% sequentially and 123% year-over-year, with full-year revenue reaching $1.35 billion, up 68% year-over-year [27][28] - Gross margin improved approximately 18 points sequentially in Q4, driven by higher production volume and improved fixed cost absorption [28][29] Business Line Data and Key Metrics Changes - The Lucid Gravity represented the majority of deliveries in Q4, contributing to a significant increase in average selling price (ASP) for the quarter [14][27] - The company shifted to a more targeted build-to-stock approach to meet customer expectations for faster delivery of specific trims and configurations [26] Market Data and Key Metrics Changes - In the U.S., the Lucid Air was the number one selling EV in its segment and third in the large luxury car segment overall in 2025 [14][11] - Q4 deliveries increased 72.5% year-over-year and 31.1% from Q3, while full-year deliveries rose 54.7% compared to 2024 [14][26] Company Strategy and Development Direction - The company aims to leverage the ramp-up of the Gravity and the introduction of midsize vehicles to expand its total addressable market (TAM) from $40 billion to $350 billion by 2030, and potentially to $700 billion by 2035 with the robotaxi market [11][8] - A focus on operational efficiency and cost management is emphasized, with a 12% reduction in the U.S. workforce expected to yield up to $500 million in cost savings over three years [20][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the macroeconomic challenges faced in 2025, including tariffs and supply chain disruptions, but expressed confidence in the company's ability to navigate these issues and grow production and deliveries in 2026 [4][19] - The company remains committed to the EV market, emphasizing that EVs are the future and that they will continue to build vehicles that outperform competitors [22][24] Other Important Information - The construction of the M2 factory in Saudi Arabia is ahead of schedule, with equipment installation progressing as planned [12] - The company has launched a certified pre-owned program, Lucid Recharged, to enhance customer ownership experience [18] Q&A Session Summary Question: Will Lucid earn ongoing revenue through its partnership with Uber and Nuro? - The company clarified that the current arrangement involves selling vehicles to Uber, with no further licensing or subscription revenues expected at this time [38] Question: When does the board plan to appoint a permanent CEO? - Management indicated that this question is for the board, with no further updates available [39] Question: What is the clearest path to positive gross margin, and when do you realistically expect to get there? - Management highlighted that improvements in gross margin are expected in 2026 through better cost management and operational efficiencies [40] Question: What is Lucid's plan to grab market share with Tesla scaling back models? - The company acknowledged Tesla's role in the EV market and noted an uptick in inquiries from Tesla owners, indicating plans to accelerate efforts to capture this market [42] Question: What milestones are left before the midsize platform production starts? - Management mentioned that they are in the final stretch of product development and installation of equipment in the Saudi plant [45] Question: Are there any constraints with DRAM memory in production? - Currently, there are no significant constraints, although the situation is being monitored closely [48] Question: How should we think about the unit mix for production guidance this year? - The majority of production and deliveries in 2026 will come from the Gravity, with minimal contributions expected from midsize vehicles and robotaxis [52]

Financial Data and Key Metrics Changes - In Q4 2025, production reached 7,874 vehicles, up 133% year-over-year, while full-year production totaled 70,840 vehicles, up 98% year-over-year [24] - Q4 revenue was $522.7 million, up 55% sequentially and 123% year-over-year, with full-year revenue reaching $1.35 billion, up 68% year-over-year [26] - Gross margin improved approximately 18 points sequentially in Q4, driven by higher production volume and improved fixed cost absorption [27] - Operating loss was $1.065 billion, reflecting meaningful improvement in margins in Q4 [29] Business Line Data and Key Metrics Changes - Lucid Gravity represented the majority of deliveries in Q4, contributing to a significant increase in average selling price (ASP) for the quarter [13] - The company achieved a meaningful reduction in material costs for both Lucid Air and Gravity, partially offsetting additional costs from tariffs [6] Market Data and Key Metrics Changes - In the U.S., Lucid Air was the number one selling EV in its segment and third in the large luxury car segment overall in 2025 [11] - Q4 deliveries were up 72.5% year-over-year and increased 31.1% from Q3, marking the eighth consecutive record quarter [25] Company Strategy and Development Direction - The company plans to leverage the ramp-up of Gravity to grow production and deliveries in 2026, with a focus on entering the midsize vehicle market [18] - The midsize platform is expected to expand the total addressable market (TAM) from $40 billion currently to $350 billion by 2030, with further growth potential in the robotaxi market [11][12] - The company aims to maintain disciplined cash burn and tight working capital control while focusing on long-term sustainable profitability [34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the extraordinary macro challenges faced in 2025, including tariffs and supply chain disruptions, but expressed confidence in the company's ability to navigate these challenges [4] - The outlook for 2026 remains cautious, with a focus on execution, cost management, and protecting the balance sheet while positioning for profitable growth [19] Other Important Information - The construction of the M2 factory in Saudi Arabia is ahead of schedule, with equipment installation progressing as planned [12] - The company has expanded its sales studio footprint and service capacity to better serve its growing customer base [16] Q&A Session Summary Question: Will Lucid earn ongoing revenue through its partnership with Uber and Nuro? - The current arrangement involves selling vehicles to Uber or its fleet partners, with no further licensing or subscription revenues expected at this time [37] Question: When does the board plan to appoint a permanent CEO? - No updates were provided regarding the appointment of a permanent CEO [38] Question: What is the clearest path to positive gross margin, and when do you realistically expect to get there? - The focus for 2026 is on improving gross margin through better cost of materials, absorption of fixed costs, and improved efficiencies [39] Question: What is Lucid's plan to grab market share with Tesla scaling back models? - The company sees itself as the natural successor to Tesla's Model S and Model X, with an uptick in inquiries from their owners [40] Question: What milestones are left before the start of production for the midsize platform? - The company is in the final stretch of product development and installation of equipment in the Saudi plant [44] Question: What portion of the CapEx is attributed to the Saudi plant? - The majority of the CapEx for the upcoming year will be geared towards the AMP2 Saudi plant [68]

Fourth Quarter 2025 Earnings Release February 24, 2026 LUCID GROUP, INC. FOURTH 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," " ...

Core Insights - The electric-vehicle maker reported an increase in fourth-quarter revenue and has plans to enhance its electric-vehicle production and deliveries by 2026 [1] Group 1 - The company posted higher revenue in the fourth quarter [1] - The company aims to boost electric-vehicle production in the coming years [1] - The company plans to increase deliveries of electric vehicles by 2026 [1]

每经AI快讯，Lucid集团去年四季度营收5.227亿美元，分析师预期4.594亿美元。四季度调整后每股亏损 3.08美元，分析师预期亏损2.68美元。 ...

Core Insights - Lucid reported mixed fourth quarter results, with a significant revenue increase but wider full-year losses as it ramps up Gravity SUV production [1][2] - The company provided optimistic production guidance for 2026, projecting 25,000 to 27,000 vehicles, indicating nearly 40% growth on the low end [2] Financial Performance - For Q4, Lucid's revenue reached $522.7 million, a 123% increase from the previous year, surpassing Bloomberg estimates of $459.4 million [1] - The adjusted loss per share was $3.08, exceeding the expected $2.68, with an adjusted EBITDA loss of $874.7 million compared to $669.7 million [2] - Total revenue for 2025 was reported at $1.354 billion, with an adjusted EBITDA loss of $2.788 billion [3] Cash Flow and Liquidity - Lucid experienced a free cash flow burn of $3.8 billion in 2025 and $1.24 billion in Q4, both figures higher year over year [4] - The company ended Q4 with $997.8 million in cash and cash equivalents, maintaining a total liquidity of $4.6 billion, sufficient to cover operations through the first half of 2027 [4][5] Production and Capacity - The majority of Q4 production was attributed to the Gravity SUV, with approximately 7,500 units produced, allowing for a theoretical annual production rate of 30,000 units [3][5] - Lucid updated its full-year production totals to 17,840 vehicles, with 7,874 produced in Q4, after identifying 538 vehicles that did not meet final validation requirements [8] Strategic Partnerships and Future Plans - Lucid is collaborating with Uber to deploy a robotaxi concept using Nuro's autonomous software, with plans for Uber to purchase 20,000 Lucid robotaxis based on the Gravity SUV platform [9]

Core Viewpoint - Lucid Group reported mixed fourth-quarter results, missing earnings expectations but exceeding revenue estimates, while facing market challenges and internal issues [2] Financial Performance - Loss per share was $3.62, compared to an expected loss of $2.62 [4] - Revenue reached $523 million, surpassing the expected $468 million by approximately 12% [2][4] Production and Operational Changes - The company revised its 2025 production target due to internal validation issues, now guiding for a significant increase in vehicle production this year [2] - For 2026, Lucid set a vehicle production target of 25,000 to 27,000 units, representing a 40% to 51% increase compared to previous year-end figures [3] - The revision for 2025 production was adjusted from 18,378 units to 17,840 units due to 538 vehicles not completing necessary internal procedures [3] Workforce Adjustments - The company laid off 12% of its U.S. salaried workforce to streamline operations and improve efficiency [2]

Core Insights - Lucid Group Inc. exceeded Wall Street revenue estimates for the fourth quarter and anticipates a production increase of over 50% in 2026, driven by the launch of the Gravity SUV and a new mid-sized vehicle [1] Financial Performance - Lucid reported a 123% increase in revenue to $522.7 million for the fourth quarter, surpassing the analysts' average estimate of $468 million [1] - The company posted an adjusted loss of $3.08 per share, which was higher than the estimated loss of $2.62 per share [1] Production and Sales - Lucid produced 7,874 vehicles in the fourth quarter, a revision down from the previously reported 8,412 vehicles due to 538 vehicles not meeting production classification [1] - The company delivered a record 5,345 vehicles in the fourth quarter, exceeding analysts' expectations [1] - For 2026, Lucid plans to produce between 25,000 and 27,000 vehicles, up from 17,840 vehicles produced last year [1] Strategic Initiatives - The company is focusing on the Gravity SUV, priced starting at $79,900, and a new mid-sized EV expected to launch later this year with a starting price under $50,000, which is crucial for attracting a wider customer base [1] - Lucid is also developing its advanced driver-assistance system and software, which is seen as a significant growth opportunity [1] - Partnerships with Uber and Nuro aim to establish a robotaxi fleet, indicating a strategic move towards autonomous vehicle technology [1] Market Challenges - Lucid has faced production challenges, supply chain disruptions, and rising costs, exacerbated by changes in U.S. tariff policies [1] - The company laid off 12% of its U.S. workforce to cut costs amid a challenging EV market following the end of the federal tax credit for new EVs [1]

Core Viewpoint - Lucid Group, Inc. has filed a prospectus supplement to register for the resale of up to 69,108,837 shares of its Class A Common Stock, fulfilling contractual obligations without issuing new shares [1] Group 1: Share Registration Details - The shares are registered to meet obligations to SMB Holding Corporation, a subsidiary of Uber Technologies, and Ayar Third Investment Company, an affiliate of the Public Investment Fund [1] - SMB cannot sell its shares until March 2027, while shares under prepaid forward transactions for Ayar are expected to be delivered in April 2030 and November 2031, with potential for early settlement [1] Group 2: 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 Lucid Gravity [1] - The company operates state-of-the-art, vertically integrated factories in Arizona and Saudi Arabia, emphasizing best-in-class performance and energy efficiency [1]

 Vancouver, British Columbia – (February 24, 2026) – TheNewswire - Sendero Resources Corp. (TSXV: SEND)(FSE: 9O40) (the “Company” or “Sendero”) is pleased to announce that its common shares have been accepted for listing on the Frankfurt Stock Exchange (“FSE”) and have started trading under the symbol 9O40.The Frankfurt Stock Exchange is one of the world’s largest securities trading platforms and provides access to a broad base of European institutional and retail investors. The FSE listing is expected to ...