Lucid Group Announces Q4 and FY2024 Financial Results

Highlight:
Feb 25, 2025 4:35 PM
Company Category Image Electric Vehicle
Fillings Details Category Image Merger / DESPAC
Merger:
Jul 26, 2021

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Industry:
MOTOR VEHICLES & PASSENGER CAR BODIES
Lucid Group Announces Q4 and FY2024 Financial Results

Newark, Calif. — Lucid Group, Inc. (NASDAQ: LCID) reported its fourth-quarter and full-year 2024 financial results on February 25, 2025. Key highlights include:

Production and Deliveries: Produced 3,386 vehicles in Q4 and 9,029 for the year (meeting 2024 guidance of ~9,000). Delivered 3,099 vehicles in Q4 and 10,241 for the year (a 79% increase compared to Q4 2023 and 71% increase compared to FY2023). 2025 production guidance is approximately 20,000 vehicles.

Financials: Q4 revenue was $234.5 million, and full-year revenue was $807.8 million. GAAP net loss per share was $(0.22) in Q4 and $(1.25) for the year; non-GAAP net loss per share was $(0.22) in Q4 and $(1.04) for the year. The company ended Q4 with approximately $6.13 billion in total liquidity.

Leadership Change: Lucid announced a CEO transition. Marc Winterhoff, COO, was appointed Interim CEO, and Peter Rawlinson transitioned to Strategic Technical Advisor to the Chairman of the Board.

About Lucid Group, Inc.:
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology...

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