Lucid Group reported Q3 2024 revenue of $200.0 million, delivering 2,781 vehicles, up 90.9% compared to Q3 2023. The company produced 1,805 vehicles in Q3 and remains on track for annual production target of approximately 9,000 vehicles. The quarter ended with total liquidity of $5.16 billion.The company's cost reduction efforts are showing positive results with improving gross margin performance. Subsequent to Q3, Lucid completed a capital raise of approximately $1.75 billion in October 2024, extending its financial runway well into 2026. The company also announced the opening of order books for the Lucid Gravity SUV, which remains on schedule for production start this year.Financial results showed a GAAP net loss per share of $(0.41) and non-GAAP net loss per share of $(0.28). The company maintains strong support from both the Public Investment Fund and other institutional investors, demonstrating continued confidence in its future prospects.

Lucid Group reported Q3 2024 revenue of $200.0 million, delivering 2,781 vehicles, up 90.9% compared to Q3 2023. The company produced 1,805 vehicles in Q3 and remains on track for annual production target of approximately 9,000 vehicles. The quarter ended with total liquidity of $5.16 billion.The company's cost reduction efforts are showing positive results with improving gross margin performance. Subsequent to Q3, Lucid completed a capital raise of approximately $1.75 billion in October 2024, extending its financial runway well into 2026. The company also announced the opening of order books for the Lucid Gravity SUV, which remains on schedule for production start this year.Financial results showed a GAAP net loss per share of $(0.41) and non-GAAP net loss per share of $(0.28). The company maintains strong support from both the Public Investment Fund and other institutional investors, demonstrating continued confidence in its future prospects.