Financial Data and Key Metrics Changes - The meeting discussed the approval of a reverse stock split of the company's issued common stock at a ratio of not less than one for seven and not greater than one for fifteen, which indicates a strategic move to potentially enhance share value and reduce the number of outstanding shares [9][10]. Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were provided during the meeting [15]. Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [15]. Company Strategy and Development Direction and Industry Competition - The company is focusing on a reverse stock split as part of its strategic initiatives, which may reflect a response to market conditions and an effort to improve its stock performance [9][10]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [15]. Other Important Information - The meeting was conducted virtually, and stockholders were encouraged to submit questions throughout the session [4][5]. - The proposal for the reverse stock split received at least 66 and two-thirds percent of the voting power in favor, indicating strong support from shareholders [12]. Q&A Session Summary Question: No questions were submitted during the meeting - The CEO invited stockholders to ask questions, but there were no inquiries made [14].

Group 1 - Lucid Group's shares have decreased by 17.1% amid broader market declines, with the S&P 500 down 2.4% and the Nasdaq-100 down 2.2% [1] - The company plans to initiate a 10-for-1 reverse stock split, which requires shareholder approval, aimed at making the stock more attractive to institutional investors [2][3] - A reverse stock split is typically used to maintain a share price above the $1 minimum required by the NYSE and Nasdaq, although Lucid claims there is no immediate risk of falling below this threshold [3] Group 2 - The company is at a critical juncture, needing to significantly grow sales and reduce costs to achieve profitability, which it has not yet reached [6] - The overall economic environment is challenging, with recent job data indicating a slowdown in hiring, as only 73,000 jobs were added in July, below the expected 100,000 [4]

Financial Data and Key Metrics Changes - The meeting confirmed that 54.54% of the votes representing common stock were cast, indicating a significant level of shareholder engagement [5] - The company reported a quorum was present for the transaction of business, allowing for the formal proposals to be discussed and voted upon [5] Business Line Data and Key Metrics Changes - No specific financial data or metrics related to individual business lines were provided in the meeting [16] Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [16] Company Strategy and Development Direction and Industry Competition - The company proposed a name change to Leafly.com Holdings Inc, which reflects a strategic shift towards enhancing its brand identity [8] - A reverse stock split was proposed to reduce the number of authorized shares, which may help the company deregister its common stock and suspend reporting obligations under the Securities Exchange Act [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the proposals presented, which were all approved by shareholders, indicating a positive outlook for the company's governance and strategic direction [14] Other Important Information - The company plans to file a certified final report of the vote results with the SEC within four business days, ensuring transparency and compliance with regulatory requirements [15] Q&A Session All Questions and Answers - No specific Q&A session was documented in the meeting, as the focus was primarily on the proposals and voting outcomes [16]

Financial Data and Key Metrics Changes - The proposal for a reverse stock split has been approved by a majority of votes, indicating a strategic move to potentially enhance the stock price and attract more investors [6] - The adjournment proposal was also approved, allowing for further solicitation of proxies if necessary [6] Business Line Data and Key Metrics Changes - No specific financial data or performance metrics for individual business lines were provided during the meeting [7] Market Data and Key Metrics Changes - There was no detailed market data or key metrics discussed in the meeting [7] Company Strategy and Development Direction - The company is focused on clinical trials and is committed to reporting data as it becomes available, emphasizing transparency in their research process [8] - The management is preparing to draw down NIH grant funding in the foreseeable future, indicating ongoing reliance on external funding sources [9] Management Comments on Operating Environment and Future Outlook - Management has not experienced adverse effects from NIH grant funding cuts to date, but they are cautious about future implications [9] - The company is optimistic about the nature of their grant and the timing, although uncertainties remain [9] Other Important Information - The meeting concluded with a commitment to report clinical trial data as expeditiously as possible, highlighting the importance of quality control and safety review processes [8] Q&A Session Summary Question: How often are clinical trial assessments done during the current clinical study? - Management stated that they report data as soon as it is available, emphasizing the need for quality control and committee checks before publishing results [8] Question: Has your NIH grant funding been affected by the recent funding cuts? - Management confirmed that there have been no adverse effects from NIH grant funding so far, but they are preparing to draw down funds soon, with future implications still uncertain [9]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 totaled $10,300,000, an increase of 47% compared to $7,000,000 for the same period in 2023 [11][12] - Gross margin reached 77.9% for Q4 2024, up from 69.1% in Q4 2023 [12] - Operating income for Q4 2024 was $2,500,000, an improvement of $1,500,000 year over year [12] - Net loss for Q4 2024 was $12,700,000, compared to net income of $18,200,000 in Q4 2023, primarily due to a change in the fair value of derivative liabilities [13] Business Line Data and Key Metrics Changes - Sold 135 ULTREMIST systems in Q4 2024, a 71% increase year over year [7] - Applicator sales in Q4 were $5,900,000, up 68% from Q4 2023 and 11% sequentially from Q3 2024 [8] Market Data and Key Metrics Changes - The company ended 2024 with 1,047 systems in the field, up from 647 at the end of 2023 [7] - Total current assets amounted to $18,400,000 as of 12/31/2024, compared to $9,800,000 as of 12/31/2023 [16] Company Strategy and Development Direction - The company is focusing on engaging larger and more sophisticated customers capable of purchasing large volumes of products [6] - A new Head of Sales was hired to reflect a shift towards a more consultative sales approach, aiming to build long-term partnerships with customers [21][22] Management's Comments on Operating Environment and Future Outlook - Management expects Q1 2025 revenue guidance of $8,400,000 to $9,000,000, representing 45% to 55% growth from Q1 2024 [17] - For the full year 2025, the company is guiding revenue of $48,000,000 to $50,000,000, indicating a 50% year-on-year growth rate [18] Other Important Information - The company successfully uplisted to NASDAQ on March 7, 2025, marking a significant milestone [10] - The company has implemented a stock option compensation plan for employees and Board of Directors for the first time in over six years [15] Q&A Session Summary Question: Changes with the new Head of Sales - The company expanded its sales team from two to nine and is adopting a deeper, consultative sales approach to build long-term partnerships [21][22] Question: Characterization of ULTREMIST placements - The placements included a mix of small orders and significant orders, with one customer ordering nearly 20 systems [29] Question: Managing larger customer orders to avoid lumpiness - The company aims to maintain a steady pace of smaller sales while being prepared for larger orders, focusing on getting systems in the field [30][32] Question: Advancing confirmatory studies for ULTREMIST - The company is looking to initiate additional studies to explore new use cases for ULTREMIST, with plans for prospective studies to validate promising past results [38][42]