Financial Performance - Deliveries reached 3,109 vehicles in Q1 2025, a 58% year-over-year increase[16] - Q1 2025 revenue was approximately $235 million[16] - GAAP gross margin improved by 37 percentage points year-over-year[22] - Adjusted EBITDA was -$598 million in Q1 2025[24] - Capital expenditures totaled approximately $161.2 million in Q1 2025[16] Liquidity and Capital Management - Total liquidity as of March 31, 2025, was approximately $5.76 billion[16, 54] - A private offering of $1.1 billion of convertible senior notes due 2030 was closed, and approximately $1.0 billion principal of existing convertible senior notes due 2026 were repurchased[16] - Sufficient liquidity is available into the second half of 2026[54, 62] Production and Outlook - The company is targeting annual production of approximately 20,000 vehicles in 2025[61] - Capital expenditures are projected to be approximately $1.4 billion in 2025[63]
Lucid (LCID) - 2025 Q1 - Earnings Call Presentation