Lucid Group, Inc. · NASDAQ:LCID
Lucid — Q1 2025 Earnings Presentation
39 slides from Lucid's earnings presentation, May 6, 2025
Slide 1: First Quarter 2025 Earnings Release
First Quarter 2025 Earnings Release May 6, 2025 LUCID GROUP, INC.
Slide 2: Forward Looking Statements, Trademarks, Non-GAAP Financial Measures and Key Business Metrics
FIRST QUARTER 2025 EARNINGS RELEASE Forward Looking Statements 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
Slide 3: Contents
FIRST QUARTER 2025 EARNINGS RELEASE Contents Key Achievements and Recent Highlights 4 Key Financial Results 5 Embarking on the Next Transformational Phase 6 World-Class In-House EV Technology 7 Core Strengths 8 The Lucid Air Lineup – Unprecedented Range of Capability 9 The Lucid Gravity SUV – A Revo
Slide 4: Q1 2025 Key Achievements and Recent Highlights
FIRST QUARTER 2025 EARNINGS RELEASE Q1 2025 Key Achievements and Recent Highlights In the First Quarter of 2025: KEY STATISTICS • Fifth consecutive quarter of record deliveries, achieving ~58% year-over-year growth in Q1 2025 • Year-over-year improvement in key financial metrics: significantly impro
Slide 5: Key Financial Results – Q1'25
FIRST QUARTER 2025 EARNINGS RELEASE Key Financial Results – Q1’25 Deliveries Revenue $m +58% 3,099 3,109 $234 $235 2,781 $201 $200 2,394 $173 1,967 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 GAAP Gross Margin Adjusted EBITDA $m Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q1’24 Q2’24 Q3’24 Q4’24 Q
Slide 6: Embarking on the Next Transformational Phase of the Lucid Vehicle Lineup
FIRST QUARTER 2025 EARNINGS RELEASE Embarking on the Next Transformational Phase of the Lucid Vehicle Lineup 2025 Air Pure Air Air Pure RWD SoP (1) Achieves 5.0m/kWh (2) Lucid Gravity SoP (1) Midsize SoP (1) 2021 September 2023 July 2024 December 2024 Scheduled for late 2026 September 2023 November
Slide 7: World-Class In-House EV Technology
FIRST QUARTER 2025 EARNINGS RELEASE World-Class In-House EV Technology Ultra-efficient, proprietary powertrain technology, advanced software and battery management systems (BMS), & autonomous-ready platform Scalable & Modular Autonomous Driving Motor & Integrated State-of-the-Art, High Bidirectional
Slide 8: Lucid, a Leader in EV Technologies, Defines a New Generation of EVs
FIRST QUARTER 2025 EARNINGS RELEASE Lucid, a Leader in EV Technologies, Defines a New Generation of EVs 1 Widely Recognized Technology Leadership 6 Differentiated Systems Approach to Development Innovative, validated, and race-proven technologies continue to Adopted a holistic approach to vehicle de
Slide 9: The Lucid Air Lineup: Unprecedented Range of Capability
FIRST QUARTER 2025 EARNINGS RELEASE The Lucid Air Lineup: From the Most Efficient Car on the Market to the World’s Quickest Four-Door Car, Unprecedented Range of Capability The most energy efficient The most well-rounded The longest-range EV on The pinnacle of electric vehicle on the US market EV on
Slide 10: The Lucid Gravity: A Revolutionary New Class of SUV
FIRST QUARTER 2025 EARNINGS RELEASE The Lucid Gravity: A Revolutionary New Class of SUV, Conceived From the Ground Up Without Compromise Up to 450 miles of EPA-estimated range (2) Built-in NACS charge port (NA market) Up to 400 kW charging can add 200 miles of range in less than 11 minutes (4) Touri
Slide 11: The Lucid Gravity: The Press Reviews Are In
FIRST QUARTER 2025 EARNINGS RELEASE The Lucid Gravity: The Press Reviews Are In “An electric SUV that doesn’t make “A Supercar in SUV Form” compromises” “A New Benchmark for Electric SUVs … “The Lucid Gravity Is as Good as EV almost too good to be real” SUVs Get” “The Gravity is the most impressive
Slide 12: Lucid's Technology Enables the Lowest Battery Pack Cost Per Mile of Vehicle Range
FIRST QUARTER 2025 EARNINGS RELEASE Lucid’s Technology Enables the Lowest Battery Pack Cost Per Mile of Vehicle Range (1) (2) Lucid Air Efficiency (miles/kWh) Battery Pack Cost Per Mile of Vehicle Range ($/mile) 5.00 mi/kWh Battery Pack Cost Per Mile of Vehicle Range 5.0 $60 $52 per mile $50 4.0 Eff
Slide 13: Lucid's Technology Enables the Lowest Battery Pack Cost Per Mile of Vehicle Range
FIRST QUARTER 2025 EARNINGS RELEASE Lucid’s Technology Enables the Lowest Battery Pack Cost Per Mile of Vehicle Range (1) Lucid Gravity Efficiency (miles/kWh) Battery Pack Cost Per Mile of Vehicle Range ($/mile) 3.75 3.66 mi/kWh $54 per mile $60 Battery Pack Cost Per Mile of Vehicle Range 3.50 3.25
Slide 14: Lucid's Technology Enables the Highest Efficiency SUV On the Market
FIRST QUARTER 2025 EARNINGS RELEASE Lucid’s Technology Enables the Highest Efficiency SUV On the Market (1) Lucid Gravity Range (mi) Battery Pack Capacity (kWh) 480 (2) 460 200 450 440 440 180 400 371 160 Battery Pack Capacity (kWh) 360 339 335 330 330 329 326 140 320 309 300 300 288 288 285 280 279
Slide 15: Major Advancements in Lucid's Vertically Integrated Production Capabilities
FIRST QUARTER 2025 EARNINGS RELEASE Major Advancements in Lucid’s Vertically Integrated Production Capabilities • Lucid’s Advanced Manufacturing Plant-1 (AMP-1) is the first greenfield, purpose-built EV factory in North America. Located in Casa Grande, Arizona, AMP-1 is the state-of-the-art manufact
Slide 16: Lucid Studio and Service Network
FIRST QUARTER 2025 EARNINGS RELEASE Lucid Studio and Service Network Oslo, Norway Lucid's direct-to-consumer sales approach offers an exceptional Riyadh, Saudi Arabia customer experience from discovery, intrigue, knowledge Dubai, United Arab Emirates acquisition, to ownership. Will continue to expan
Slide 17: Track Record of Prudent Liquidity Management
FIRST QUARTER 2025 EARNINGS RELEASE Track Record of Prudent Liquidity Management As of March 31, 2025, Lucid had liquidity of approximately $5.76 billion which provides sufficient financial runway into the 2021 second half of 2026 for the ramp of the Lucid Gravity and preparation Initial public offe
Slide 18: Financial Highlights: Strength of Balance Sheet and Investments for Growth
FIRST QUARTER 2025 EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) 3/31/25 12/31/24 Lucid ended the first quarter of 2025 with approximately $4.56 billion cash, cash equivalents, investments,
Slide 19: Lucid 2025 Outlook
FIRST QUARTER 2025 EARNINGS RELEASE Lucid 2025 Outlook PRODUCTION VOLUME • Annual production guidance of approximately 20,000 vehicles, and will continue to prudently manage and adjust production to meet sales and delivery needs TOTAL LIQUIDITY • Sufficient liquidity into the second half of 2026 CAP
Slide 20: Imagery
FIRST QUARTER 2025 EARNINGS RELEASE Imagery LUCID GROUP, INC. 20
Slide 21: Lucid Air Saudi Cup Edition
LUCID GROUP, INC. Lucid Air Saudi Cup Edition 21
Slide 22: Lucid Air
LUCID GROUP, INC. Lucid Air 22
Slide 23: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 23
Slide 24: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 24
Slide 25: Lucid Gravity Has Landed Event | NYC
LUCID GROUP, INC. Lucid Gravity Has Landed Event | NYC 25
Slide 26: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 26
Slide 27: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 27
Slide 28: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 28
Slide 29: Lucid Gravity Media Drive
LUCID GROUP, INC. Lucid Gravity Media Drive 29
Slide 30: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 30
Slide 31: Financials
FIRST QUARTER 2025 EARNINGS RELEASE Financials LUCID GROUP, INC. 31
Slide 32: Condensed Consolidated Balance Sheets (Unaudited)
FIRST QUARTER 2025 EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) LIABILITIES, REDEEMABLE CONVERTIBLE March 31, 2025 December 31, 2024 PREFERRED STOCK, AND STOCKHOLDERS’ (In thousands) March 31, 2025 December 31, 2024 EQUITY ASSETS Current liabilities: Current assets: Accounts pa
Slide 33: Condensed Consolidated Statements of Operations & Comprehensive Loss (Unaudited)
FIRST QUARTER 2025 EARNINGS RELEASE Condensed Consolidated Statements of Operations & Comprehensive Loss (Unaudited) Three Months Ended March 31, (in thousands, except share and per share data) 2025 2024 Revenue $ 235,048) $ 172,740) Cost of revenue 463,560) 404,796) Gross profit (loss) (228,512) (2
Slide 34: Condensed Consolidated Statement of Cash Flows (Unaudited)
FIRST QUARTER 2025 EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended March 31, (In thousands) 2025 2024 Net cash used in operating activities $ (428,613) $ (516,745) Net cash provided by investing activities 614,021) 317,546) Net cash provided by financin
Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited)
FIRST QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended March 31, (In thousands) 2025 2024 ADJUSTED EBITDA Net loss attributable to common stockholders, basic and diluted (GAAP) $ (731,096) $ (684,760) Interest expense 11,883) 7,501) I
Slide 36: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued
FIRST QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended March 31, (In thousands, except share and per share data) 2025 2024 ADJUSTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS Net loss attributable to common stockholders,
Slide 37: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued
FIRST QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended March 31, (In thousands) 2025 2024 FREE CASH FLOW Net cash used in operating activities (GAAP) $ (428,613) $ (516,745) Capital expenditures (161,241) (198,197) Free ca
Slide 38: Appendix
FIRST QUARTER 2025 EARNINGS RELEASE Appendix LUCID GROUP, INC. 38
Slide 39: Key Awards & Accolades won by Lucid Air
FIRST QUARTER 2025 EARNINGS RELEASE Key Awards & Accolades won by Lucid Air 2025 LUCID GROUP, INC. 39