Lucid Q1 revenue $149.4M, up 159% YoY; delivered 1,406 vehicles

Lucid Group, Inc.

2023-Q1 EPS reported -$0.43 revenue$149,432,000

Revenue $149.4M (+159% YoY); produced 2,314 vehicles, delivered 1,406 in Q1.
Plans to manufacture >10,000 vehicles in 2023; Gravity SUV unveiling later this year, launch in 2024.
Total liquidity ~$4.1B ($3.4B cash), expected to fund operations at least into Q2 2024.
Q1 revenue YoY increase reflects higher vehicle deliveries and improved production ramp.
CEO cites continuing brand awards and in-house technology as competitive advantages.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lucid Group, Inc. reported first quarter ended March 31, 2023 results: revenue $149.4 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $149.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Lucid Announces First Quarter 2023 Financial Results NEWARK, Calif. — May 8, 2023 — Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced financial results for its first quarter ended March 31, 2023. Lucid reported first quarter revenue of $149.4 million, having produced 2,314 vehicles at its manufacturing facility in Arizona and delivered 1,406 vehicles during the same period. Lucid plans to manufacture more than 10,000 vehicles in 2023 and ended the quarter with approximately $4.1 billion total liquidity, which is expected to fund the Company at least into the second quarter of 2024.

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Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-016400

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