Key Points Lucid investors have had reason to cheer thanks to surging deliveries. Stifel lowered its price target on Lucid to $17 per share. One key fear for investors is the threat of share dilution over time. 10 stocks we like better than Lucid Group › Lucid Group (NASDAQ: LCID) investors have had some reason to cheer this year. The young electric vehicle (EV) maker has posted seven consecutive quarters with record deliveries, with the third quarter reaching 4,078 vehicles. The third-quarter del ...

Lucid Group Inc. (NASDAQ:LCID) ranks among the best sustainability stocks to invest in. On November 5, Lucid Group Inc. (NASDAQ:LCID) released its third-quarter 2025 earnings results, which showed a record quarterly revenue and delivery increases. The EV maker revealed record quarterly revenue of $336.6 million, a 68% year-over-year growth over Q3 2024. The rise was fueled by the company’s eighth consecutive quarter of record deliveries, with 4,078 vehicles shipped in Q3, a 47% increase over the same perio ...

Core Insights - Lucid Group, Inc. achieved its seventh consecutive quarter of record delivery numbers despite facing significant supply chain challenges and external headwinds [1][13][27] - The company is focused on disciplined execution, scaling production, building brand awareness, and advancing technology leadership as part of its near-term priorities [1][5][12] - Strategic partnerships with Uber, Neuro, and NVIDIA are reshaping Lucid's financial model, providing a capital-efficient path to growth and new recurring revenue streams [6][24][23] Operational Performance - In Q3, Lucid delivered 4,078 vehicles, a 47% increase year-over-year, and produced 3,891 vehicles, with a total production nearing 10,000 units [27][28] - Revenue for Q3 reached $337 million, reflecting a 68% year-over-year increase and a 30% sequential increase, driven by delivery growth and a favorable product mix [28][23] - The company is experiencing challenges in the supply chain, including shortages of magnets, aluminum, and chips, but has managed to navigate these issues effectively [14][15] Strategic Initiatives - Lucid is advancing its strategy towards autonomy, with plans to deploy 20,000 robotaxis in partnership with Uber, and has successfully delivered the first batch of engineering vehicles to Neuro [6][7][38] - The collaboration with NVIDIA aims to develop full Level 4 autonomous driving capabilities, with initial rollouts expected by the end of next year [8][50] - The company is also making organizational changes to enhance accountability and accelerate growth, including new appointments in engineering, revenue, and quality leadership [16][18] Brand Development - Lucid's brand awareness increased by eight points month-over-month among U.S. consumers planning to purchase an EV, driven by the successful "Driven" campaign featuring Timothee Chalamet [19][20] - The Lucid Air Sapphire was recognized as the German performance car of the year, highlighting the brand's growing cultural relevance [21] Financial Outlook - The company strengthened its liquidity position with an increase in its delayed draw term loan facility from $750 million to approximately $2 billion, extending its runway into 2027 [26][29] - Lucid expects to produce around 18,000 units by year-end, with a significant ramp-up in production anticipated for Q4, particularly for the Gravity model [31][25] - The company is committed to maintaining a healthy liquidity position and will continue to evaluate financing options as market conditions allow [30][29]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $337 million, representing a 68% year-over-year increase and a 30% sequential increase, driven by delivery growth and a favorable product mix [20][26] - Gross margin improved by approximately six percentage points sequentially, although still below long-term goals due to tariffs and input costs [26] - Adjusted EBITDA was negative $718 million, reflecting increased sales and marketing efforts, as well as ongoing investments in new platforms and autonomy initiatives [26] Business Line Data and Key Metrics Changes - The company delivered 4,078 vehicles in Q3, marking the seventh consecutive quarter of record deliveries, which is a 47% increase year-over-year [24][26] - Production for Q3 was 3,891 vehicles, with an additional 1,000 vehicles produced for final assembly in Saudi Arabia [25][26] - The mix of higher-value configurations, particularly the Gravity model, contributed to an increase in average selling prices (ASP) [25][26] Market Data and Key Metrics Changes - Brand awareness in the U.S. increased by eight points month-over-month among consumers planning to purchase an EV, driven by a successful brand campaign [18] - European orders have increased year-over-year, and North American traffic and test drives in October were solid compared to historical levels [30] Company Strategy and Development Direction - The company is focused on disciplined execution, scaling production, building brand awareness, and advancing technology leadership [5][6] - Strategic partnerships with Uber, Nuro, and NVIDIA are reshaping the financial model, providing a capital-efficient path to growth and new recurring revenue streams [22] - The company is pushing into new markets and high-value adjacencies, including the development of robotaxis and level four autonomy [6][9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing industry-wide supply chain challenges but emphasized the company's ability to navigate these issues effectively [13][14] - The company expects total production to reach around 18,000 units by year-end, assuming no unexpected disruptions from supply chain factors [27] - Management anticipates significant delivery growth in Q4, supported by the ramp-up of the Gravity model and expanded marketing efforts [30] Other Important Information - The company announced organizational changes to streamline decision-making and enhance accountability, including new appointments in engineering, revenue, and quality leadership [15][17] - The company has strengthened its liquidity position by increasing a delayed short-term loan facility with its majority shareholder, the Public Investment Fund, from $750 million to approximately $2 billion [24][27] Q&A Session Summary Question: What is Lucid's plan to increase market cap and shareholder value within the next 12 months? - The focus is on profitability and cash generation, with plans to ramp up the Gravity and launch the midsize platform [32] Question: Any updates on the robotaxi partnership with Uber? - The first batch of engineering vehicles has been delivered to Nuro for testing, with San Francisco planned as the first launch city in 2026 [33] Question: When will the company become profitable? - The management is working towards a roadmap for profitability but has not publicly communicated a specific timeline [34] Question: What is the timeline for an affordable entry-level vehicle for Lucid? - The first variant of the midsize platform is scheduled for the end of 2026 [35] Question: How is the company prioritizing capital between autonomy and technology manufacturing? - The company is leveraging partnerships to minimize capital expenditures while still advancing technology [39] Question: What is the timeline for achieving Level 4 autonomy on consumer-owned vehicles? - The first rollout of L2 Plus capabilities is expected by the end of next year, with further updates to follow [41] Question: How are new vehicle order trends affected by the expiration of US EV tax credits? - Despite the expiration, the company saw an increase in deliveries and market share in October, indicating strong demand [51]

Q3 2025 Performance - Lucid achieved record quarterly revenue of $336.6 million in Q3 2025[16] - The company delivered 4,078 vehicles in Q3 2025, a 47% increase year-over-year[16, 19] - Lucid produced 3,891 vehicles in Q3 2025, up 116% year-over-year[19] - Q3 GAAP diluted net loss per share was $(3.31), while non-GAAP diluted net loss per share was $(2.65)[16] Liquidity and Investment - Lucid's total liquidity at the end of Q3 2025 was $4.2 billion[16, 29] - Subsequent to quarter end, the Public Investment Fund (PIF) and Lucid agreed to increase the delayed draw term loan credit facility (DDTL) from $750 million to approximately $2 billion, potentially increasing total liquidity to $5.5 billion[16, 29] - Uber made a $300 million strategic investment in Lucid[16, 30] Strategic Initiatives - Lucid launched a strategic collaboration with NVIDIA to develop L4 autonomy for the consumer market[16] - The company delivered the first Lucid Gravity engineering vehicles to Nuro for deployment of Uber robotaxis, with San Francisco announced as the first city in 2026[16] Financial Position - Lucid ended Q3 2025 with approximately $3.0 billion in cash, cash equivalents, investments, and equity securities[54, 55] - Net loss for Q3 2025 was $(978.4) million, compared to $(992.5) million in Q3 2024[56] - Free cash flow for Q3 2025 was $(955.5) million, compared to $(622.5) million in Q3 2024[56]

Core Insights - Rivian Automotive and Lucid Group are facing increasing challenges as they attempt to convince investors of a profitable future amidst difficult market conditions [1][2][3] Company Performance - Both companies are expected to report significant revenue growth and reduced adjusted earnings losses in their upcoming third-quarter results, driven by record U.S. EV sales [2][12] - Rivian delivered 13,201 vehicles in Q3, a 32% increase year-over-year, while Lucid delivered 4,078 units, up 47% from 2,781 units in Q3 2024 [12] - Rivian anticipates an adjusted EPS loss of 72 cents on revenue of $1.5 billion, compared to a loss of 99 cents on revenue of $874 million a year earlier [13] - Lucid is expected to report a $2.27 adjusted EPS loss, down from $2.80 a year earlier, with revenue projected to increase by approximately 90% to $379.1 million [15] Market Challenges - Both companies have reduced vehicle production guidance due to challenging market conditions, including increased costs from tariffs and a slowdown in EV sales forecasts [3][4] - The elimination of federal EV purchase incentives, which previously provided up to $7,500, is expected to negatively impact sales and profits [4][8] - Rivian has cut its expected earnings from credit sales from $300 million to $160 million, leading to a lowered gross profit guidance for the year [5] Future Growth Opportunities - Rivian's future relies heavily on the upcoming "R2" vehicle, expected to launch in the first half of next year, which aims to reduce production costs and complexity [19][20] - Lucid is focusing on the launch of its Gravity SUV and a future midsize vehicle platform to expand its market reach [24][25] - Both companies are promoting their technological advancements, including Rivian's $5.8 billion deal with Volkswagen for software and electrical architecture, and Lucid's partnership with Uber for deploying Gravity SUVs equipped with autonomous technology [23][26] Financial Outlook - Rivian is expected to report a gross loss of $39 million in Q3, while Lucid's gross loss is projected at $255 million [16] - Analysts are closely monitoring gross profit improvements as a key indicator of future profitability for both companies [15][16]

Core Insights - Lucid Group is collaborating with NVIDIA to accelerate the development of Level 4 autonomous driving capabilities in its future midsize vehicles, aiming to deliver one of the world's first consumer-owned L4 autonomous vehicles [2][5] - The partnership will also enhance manufacturing efficiencies through NVIDIA's Industrial AI platform, enabling smart factories and optimizing production processes [2][7] Company Developments - Lucid's technology roadmap includes the introduction of eyes-on, point-to-point driving (L2++) for the Lucid Gravity and upcoming midsize vehicles, progressing towards true eyes-off, hands-off, and mind-off (L4) capabilities [3][5] - The integration of NVIDIA DRIVE AGX Thor will unify all automated driving functions, facilitating a seamless evolution through the autonomy spectrum [4][5] Manufacturing Innovations - Lucid is implementing a Software-Driven Manufacturing approach, utilizing NVIDIA's Industrial platform for predictive analytics, intelligent robotics, and real-time process optimization [7] - The use of digital twin technology will allow for collaborative planning and simulation of factory layouts, enhancing quality control and supporting scalable operations [7][8] Strategic Vision - The collaboration with NVIDIA is positioned as a pivotal step in advancing intelligent manufacturing and electric mobility, reinforcing Lucid's commitment to innovation in the automotive sector [8] - Lucid aims to combine cutting-edge AI with its engineering excellence to deliver the smartest and safest autonomous vehicles on the market [4][6]

Core Insights - Lucid Group, Inc. has opened two new Studio and Service Center locations in San Jose and San Diego, California, to enhance customer experience and support its growing customer base [1][4][5] Group 1: New Locations - The San Jose Studio and Service Center is located at 250 Stockton Ave., in downtown San Jose, and had its grand opening on October 11, 2025 [2][4] - The San Diego Studio and Service Center will officially open on November 8, located at 4141 Ruffin Road, just minutes from Highway 15 [3][5] Group 2: Customer Demand and Expansion - Customer demand for Lucid vehicles is increasing, driven by recognition of their performance, range, and design [4] - Lucid plans to expand its retail footprint across the U.S., aiming to provide exceptional customer experiences [4] Group 3: Company Overview - Lucid is a Silicon Valley-based technology company focused on creating advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity [7] - The company assembles its vehicles in a vertically integrated factory in Arizona, emphasizing industry-leading technology and innovations [7]

Core Insights - Lucid Group has commenced deliveries of the Lucid Gravity in Canada, which has generated significant anticipation in the market [1][2] - The Lucid Gravity Grand Touring features dual electric motors with 828 horsepower, capable of accelerating from 0-100 km in 3.6 seconds, and offers a projected range of over 720 km on a single charge [3][8] Product Features - The Lucid Gravity can accommodate up to seven adults and their luggage, providing nearly 3,400 litres of cargo space [3][8] - It utilizes innovative technology allowing for seamless charging at up to 400 kW on 1000V charging equipment and sustained speeds of up to 225 kW on 500V architecture fast chargers, including Tesla V3 Superchargers [4][8] - The starting price for the Lucid Gravity Grand Touring is $134,500 CAD, which includes various fees but excludes federal luxury tax and sales tax [7][8] Company Overview - Lucid Group is a Silicon Valley-based technology company focused on producing advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity [6] - The company assembles its vehicles in a vertically integrated factory located in Arizona, emphasizing its commitment to innovative EV technology [6]

Core Points - Lucid Group, Inc. reported production and delivery totals for Q3 2025, producing 3,891 vehicles and delivering 4,078 vehicles during the quarter [1][2] - For the nine months ending September 30, 2025, Lucid produced a total of 9,966 vehicles and delivered 10,496 vehicles [2] - The company will host a conference call on November 5, 2025, to discuss its financial results, with a press release to be issued prior [2][5] Production and Delivery - In Q3 2025, Lucid produced 3,891 vehicles, including over 1,000 vehicles built for Saudi Arabia [1] - Total production for the first nine months of 2025 reached 9,966 vehicles, excluding those in transit to Saudi Arabia [2] - Total deliveries for the same nine-month period were 10,496 vehicles [2] Investor Engagement - Lucid is partnering with Say Technologies to enhance shareholder engagement by allowing questions to be submitted and upvoted for the upcoming earnings call [3] - The Q&A platform for shareholders will be open from October 22, 2025, until November 4, 2025 [4] Earnings Call Details - The earnings call is scheduled for November 5, 2025, at 2:30 pm PT / 5:30 pm ET, with a live webcast available [5] - The call will include announcements regarding net income and cash flow results alongside other financial performance metrics [5] 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 [6] - The company operates a vertically integrated factory in Arizona for vehicle assembly [6]