Lucid Group, Inc. · NASDAQ:LCID
Lucid — Q4 2023 Earnings Presentation
36 slides from Lucid's earnings presentation, Feb 21, 2024
Slide 1: Fourth Quarter Earnings Release
FOURTH QUARTER EARNINGS RELEASE February 21, 2024 LUCID GROUP, INC.
Slide 2: Forward-looking statements
FOURTH QUARTER 2023 EARNINGS RELEASE This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,”
Slide 3: Fourth Quarter Earnings Release contents
FOURTH QUARTER EARNINGS RELEASE Mission 4 Key Achievements and Recent & Upcoming Highlights 5 Lucid Core Strengths 6 Lucid Vehicle Lineup – Embarking on Next Transformational Phase 7 The Lucid Air Lineup - Unprecedented Range of Capability 8 The Lucid Gravity 9 Vertically Integrated Production 10 St
Slide 4: FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC.
FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 4
Slide 5: Key Statistics
FOURTH QUARTER 2023 EARNINGS RELEASE In 2023: KEY STATISTICS • Lucid Air continued to garner significant industry accolades with the Car and Driver’s 10Best list for 2024, following the previous 2023 World Luxury Car of the Year and Quarter ended as of December 31, 2023 2022 MotorTrend Car of the Ye
Slide 6: Lucid Core Strengths
FOURTH QUARTER 2023 EARNINGS RELEASE 1 Established & Widely Recognized Technology 6 In-House Sales & Service Network Innovative, validated, and race-proven technologies continue to Superior and differentiated retail and ownership experience outpace peers and provide competitive differentiation culti
Slide 7: Vehicle Lineup – Embarking on Next Transformational Phase
FOURTH QUARTER 2023 EARNINGS RELEASE Air Air Pure RWD SoP (1) Gravity SoP (1) 2021 September 2023 Scheduled for late 2024 September 2023 November 2023 Scheduled for late 2026 Air Sapphire SoP (1) Gravity Unveil High-Volume Midsize SoP (1) Lucid’s total addressable market is expanding with the introd
Slide 8: The Lucid Air Lineup
FOURTH QUARTER 2023 EARNINGS RELEASE The most efficient vehicle The most well-rounded The longest-range EV The most powerful on the US market EV on the market on the US market four-door car in the world Pure Touring Grand Touring Sapphire From $69,900 From $77,900 From $109,900 Fully Equipped $249,0
Slide 9: The Lucid Gravity
FOURTH QUARTER 2023 EARNINGS RELEASE • Unveiled on November 16, 2023, at the LA Auto Show; special European launch event to be held at the Geneva International Motor Show on February 26, 2024. • Offers comfortable seating for up to seven adults with space for their gear, the driving dynamics of a sp
Slide 10: Vertically Integrated Production
FOURTH QUARTER 2023 EARNINGS RELEASE • Lucid's core EV technology is not only created in-house, but also manufactured at Lucid's dedicated EV powertrain factory in Arizona, where Lucid produces its own electric motors, transmission systems, power electronic inverters, the revolutionary Wunderbox, an
Slide 11: Q4 2023 Sales & Service Highlights
FOURTH QUARTER 2023 EARNINGS RELEASE Oslo, Norway Lucid's direct-to-consumer sales approach offers an exceptional customer experience from discovery, intrigue, Riyadh, Saudi Arabia knowledge acquisition, to ownership. Will continue to expand service and delivery network to support growing sales and
Slide 12: Liquidity Level as of December 31, 2023
FOURTH QUARTER 2023 EARNINGS RELEASE As of December 31, 2023, Lucid had liquidity of approximately $4.78 billion, which we believe provides sufficient runway through Gravity start-of- production, and beyond, at least into 2025. Lucid has focused on balance sheet strength and shown the ability to rai
Slide 13: Financial Highlights
FOURTH QUARTER 2023 EARNINGS RELEASE BALANCE SHEET (in millions, unless otherwise stated; unaudited) 12/31/23 12/31/22 Lucid ended the fourth quarter of 2023 with over $4.3 billion cash, cash equivalents and investments. As of December 31, 2023, Lucid had total Cash, Cash Equivalents and Investments
Slide 14: Guidance
FOURTH QUARTER 2023 EARNINGS RELEASE PRODUCTION VOLUME • Annual production guidance of approximately 9,000 vehicles, and will continue to prudently manage and adjust production to meet sales and delivery needs CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into 2025 CAPITAL EXP
Slide 15: FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC.
FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 15
Slide 16: Lucid Air Sapphire Deliveries at Sonoma Raceway
LUCID GROUP, INC. Lucid Air Sapphire Deliveries at Sonoma Raceway 16
Slide 17: AMP-1 Phase 2
LUCID GROUP, INC. AMP-1 Phase 2 17
Slide 18: AMP-1 Phase 2
LUCID GROUP, INC. AMP-1 Phase 2 18
Slide 19: AMP-1 Phase 2
LUCID GROUP, INC. AMP-1 Phase 2 19
Slide 20: Lucid Air Pure named to Car and Driver 10Best list
LUCID GROUP, INC. Lucid Air Pure named to Car and Driver 10Best list 20
Slide 21: Lucid at the Los Angeles Auto Show
LUCID GROUP, INC. Lucid at the Los Angeles Auto Show 21
Slide 22: Lucid at the Los Angeles Auto Show
LUCID GROUP, INC. Lucid at the Los Angeles Auto Show 22
Slide 23: Lucid at the Los Angeles Auto Show
LUCID GROUP, INC. Lucid at the Los Angeles Auto Show 23
Slide 24: LUCID GROUP, INC.
LUCID GROUP, INC. 24
Slide 25: AMP-1 Phase 2 Owners Rally
LUCID GROUP, INC. AMP-1 Phase 2 Owners Rally 25
Slide 26: AMP-1 Phase 2 Ribbon Cutting
LUCID GROUP, INC. AMP-1 Phase 2 Ribbon Cutting 26
Slide 27: AMP-1 Manufacturing Facility in Arizona
LUCID GROUP, INC. AMP-1 Manufacturing Facility in Arizona 27
Slide 28: AMP-2 Manufacturing Facility in Saudi Arabia
LUCID GROUP, INC. AMP-2 Manufacturing Facility in Saudi Arabia 28
Slide 29: Financials
FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 29
Slide 30: Condensed Consolidated Balance Sheets
FOURTH QUARTER 2023 EARNINGS RELEASE (In thousands) December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 1,369,947 $ 1,735,765 Accounts payable $ 108,724 $ 229,084 Short-te
Slide 31: Consolidated Statements of Operations
FOURTH QUARTER 2023 EARNINGS RELEASE Three Months Ended December 31, Twelve Months Ended December 31, (in thousands, except share and per share data) 2023 2022 2023 2022 Revenue $ 157,151) $ 257,713) $ 595,271) $ 608,181) Cost of revenue 410,015) 615,291) 1,936,066) 1,646,086) Gross profit (loss) (2
Slide 32: Consolidated Statements of Cash Flows
FOURTH QUARTER 2023 EARNINGS RELEASE Three Months Ended December 31, Twelve Months Ended December 31, (In thousands) 2023 2022 2023 2022 Net cash used in operating activities $ (474,549) $ (648,515) $ (2,489,753) $ (2,226,258) Net cash provided by (used in) investing activities 652,150) (392,656) (9
Slide 33: Adjusted EBITDA and Free Cash Flow
FOURTH QUARTER 2023 EARNINGS RELEASE Three Months Ended December 31, Twelve Months Ended December 31, (In thousands) 2023 2022 2023 2022 ADJUSTED EBITDA Net loss (GAAP) $ (653,766) $ (472,648) $ (2,828,420) $ (1,304,460) Interest expense 7,777) 8,075) 24,915) 30,596) Interest income (58,680) (29,472
Slide 34: Appendix
FOURTH QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 34
Slide 35: Awards and Recognition
FOURTH QUARTER 2023 EARNINGS RELEASE 10Best List World Luxury Car Car of the Year 2024 (1) 2023 (2) 2022 (3) Best Luxury Powertrain of the Year 10 Best Engines and 10 Best Electric Cars.com Bloomberg Green Electric Car 2023 (5) Propulsion Systems Cars 2023 (7) Top Pick Luxury EV Ranked #1 in Bloombe
Slide 36: Proprietary powertrain technology and software
FOURTH QUARTER 2023 EARNINGS RELEASE Ultra-efficient, proprietary powertrain technology and advanced software and battery management system (BMS) Scalable and Modular Motor & Integrated State-of-the-Art, High Bidirectional Charging with Battery Pack Built on Race In-House Software Transmission Volta