Lucid Q1 rev $172.7M, deliveries +39.9% YoY; raises $1B from PIF, SVP resigns

Lucid Group, Inc.

2024-Q1 EPS reported -$0.30 revenue$172,740,000

Q1 revenue $172.7M; delivered 1,967 vehicles (+39.9% YoY); produced 1,728 vehicles.
On track for ~9,000 vehicles produced in 2024; raised $1.0B via private placement to PIF affiliate.
Total liquidity at quarter end approximately $5.03 billion.
Michael Bell, SVP Digital, resigns effective immediately; Derrick Carty (interim) leads Digital.
Bell gets $125K consulting fee and $25K tax prep; will advise through Aug 12, 2024.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael Bell

Senior Vice President of Digital

LCID · Lucid Group, Inc.

Effective: 2024-05-06
Successor: Derrick Carty
Filed: May 6, 2024, 7:59 PM ET

Michael Bell, Lucid’s Senior Vice President of Digital, is resigning from his position, effective immediately

Appointed (interim)

Derrick Carty

Interim Lead of Digital

LCID · Lucid Group, Inc.

Effective: 2024-05-06
Filed: May 6, 2024, 7:59 PM ET

Effective immediately, Derrick Carty, Vice President, Platform Software will lead the Company’s Digital organization on an interim basis

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lucid Group, Inc. reported first quarter ended March 31, 2024 results: revenue $172.7 million.

Period: first quarter ended March 31, 2024
Revenue: $172.7 million
Result: reported results

Exact text from the filing

Lucid reported Q1 revenue of $172.7 million on deliveries of 1,967 vehicles

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Bell resigned as Senior Vice President of Digital at Lucid Group, Inc..

Action: resigned
Role: Senior Vice President of Digital

Exact text from the filing

Michael Bell, Lucid’s Senior Vice President of Digital, is resigning from his position, effective immediately

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Derrick Carty was appointed as Interim Lead of Digital at Lucid Group, Inc..

Action: will lead on an interim basis
Role: Interim Lead of Digital

Exact text from the filing

Effective immediately, Derrick Carty, Vice President, Platform Software will lead the Company’s Digital organization on an interim basis

View on SEC.gov

710 earnings releases filed in the last 30 days. Browse all earnings releases →

Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-020614

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