Lucid Group, Inc. · NASDAQ:LCID

Lucid — Q1 2023 Earnings Presentation

32 slides from Lucid's earnings presentation, May 8, 2023

  1. Slide 1: First Quarter Earnings Release

    FIRST QUARTER EARNINGS RELEASE May 8, 2023 LUCID GROUP, INC.

  2. Slide 2: Forward-looking statements

    FIRST 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,” “

  3. Slide 3: Agenda

    FIRST QUARTER EARNINGS RELEASE Mission 4 First Quarter & Recent Highlights 5 Lucid Core Strengths 6 The Lucid Air – Uncompromised Excellence 7 Gravity SUV 8 Vertically Integrated Production 9 Studio and Service Network 10 Track Record of Prudent Liquidity Management 11 Financial Highlights 12 Outloo

  4. Slide 4: First Quarter 2023 Earnings Release

    FIRST QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 4

  5. Slide 5: Key Statistics

    FIRST QUARTER 2023 EARNINGS RELEASE At the 2023 New York International Auto Show, the Lucid Air was crowned “2023 World Luxury Car”. The Lucid Air was also named to the US News & World Report KEY STATISTICS “2023 Best Hybrid & Electric Cars” list for “Best Luxury Electric Car”. Quarter-to-date as of

  6. Slide 6: Lucid Core Strengths

    FIRST QUARTER 2023 EARNINGS RELEASE 1 Established & Widely Recognized Technology 6 Technology Vertical Integration Innovative, validated, and race-proven technologies outpace Our world-class EV powertrain is only possible because we peers and provide competitive differentiation design, develop, & ma

  7. Slide 7: The Lucid Air – Uncompromised Excellence

    FIRST QUARTER 2023 EARNINGS RELEASE Pure Touring Grand Touring From $87,400 From $107,400 From $138,000 Power: 480 hp Power: 620 hp Power: 1,050 hp Range: Up to 410 miles of EPA- Range: Up to 425 miles of EPA- Range: Up to 516 miles of EPA- estimated range.(1) estimated range. (1) estimated range. (

  8. Slide 8: Gravity SUV

    FIRST QUARTER 2023 EARNINGS RELEASE • The Lucid Gravity SUV entered a new phase of development with on-road testing • This luxury electric SUV will offer the driving dynamics of a sports car, greater electric range than any SUV on the market today, and space for up to seven adults and their gear • T

  9. Slide 9: Key Highlights: Vertically Integrated Production

    FIRST 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, and r

  10. Slide 10: Q1 2023 Sales & Service Highlights

    FIRST QUARTER 2023 EARNINGS RELEASE Oslo, Norway Lucid's direct-to-consumer sales approach offers an exceptional customer experience from discovery, intrigue, knowledge Riyadh, Saudi Arabia acquisition, to ownership. Lucid has 35 Studios and service centers in North America, 4 in Europe, and we open

  11. Slide 11: Liquidity Level as of March 31, 2023

    FIRST QUARTER 2023 EARNINGS RELEASE As of March 31, 2023, Lucid had liquidity of ~$4.1 billion with a runway at least into the second quarter of 2024. Since going public in July 2021, Lucid maintained an average liquidity of $4.9 billion. Lucid has focused on balance sheet strength and shown the abi

  12. Slide 12: Financial Highlights: Balance Sheet, Statement of Operations, Opex/Capex

    FIRST QUARTER 2023 EARNINGS RELEASE BALANCE SHEET (in millions, unless otherwise stated; unaudited) 3/31/23 12/31/22 Lucid ended the first quarter of 2023 with over $3.4 billion cash, cash equivalents and investments and total liquidity of ~$4.1 billion, Cash, Cash Equivalents and Investments $ 3,42

  13. Slide 13: Outlook

    FIRST QUARTER 2023 EARNINGS RELEASE PRODUCTION VOLUME • Production of more than 10,000 vehicles, with company-wide initiatives ongoing that will enable Lucid to pivot to higher volumes as market conditions allow CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into the second qua

  14. Slide 14: First Quarter 2023 Earnings Release

    FIRST QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 14

  15. Slide 15: Lucid Air Pure

    LUCID GROUP, INC. LUCID AIR PURE 15

  16. Slide 16: Apple CarPlay

    LUCID GROUP, INC. APPLE CARPLAY 16

  17. Slide 17: Lucid Air Sapphire

    LUCID GROUP, INC. LUCID AIR SAPPHIRE 17

  18. Slide 18: Lucid Air Grand Touring in Stealth Look

    LUCID GROUP, INC. LUCID AIR GRAND TOURING IN STEALTH LOOK 18

  19. Slide 19: Lucid Air Touring

    LUCID GROUP, INC. LUCID AIR TOURING 19

  20. Slide 20: Corte Madera Studio

    LUCID GROUP, INC. CORTE MADERA STUDIO 20

  21. Slide 21: Lucid Gravity Prototype

    LUCID GROUP, INC. LUCID GRAVITY PROTOTYPE 21

  22. Slide 22: AMP-1

    LUCID GROUP, INC. AMP-1 22

  23. Slide 23: First Quarter 2023 Earnings Release

    FIRST QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 23

  24. Slide 24: Consolidated Balance Sheets

    FIRST QUARTER 2023 EARNINGS RELEASE (In thousands) March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 900,038 $ 1,735,765 Accounts payable $ 145,746 $ 229,084 Short-term invest

  25. Slide 25: Statements of Operations

    FIRST QUARTER 2023 EARNINGS RELEASE Three Months Ended March 31, (in thousands, except share and per share data) 2023 2022 Revenue $ 149,432 $ 57,675) Cost of revenue 500,524 245,970) Gross profit (loss) (351,092) (188,295) Operating expenses Research and development 229,803 186,076) Selling, genera

  26. Slide 26: Statements of Cash Flows

    FIRST QUARTER 2023 EARNINGS RELEASE Three Months Ended March 31, (In thousands) 2023 2022 Net cash used in operating activities $ (801,264) $ (494,649) Net cash used in investing activities (28,716) (185,082) Net cash used in financing activities (5,745) (187,301) Net decrease in cash, cash equivale

  27. Slide 27: Adjusted EBITDA and Free Cash Flow

    FIRST QUARTER 2023 EARNINGS RELEASE Three Months Ended March 31, (In thousands) 2023 2022 ADJUSTED EBITDA Net loss (GAAP) $ (779,528) $ (81,286) Interest expense 7,108) 7,719) Interest income (40,005) —) Provision for income taxes 129) 323) Depreciation and amortization 49,838) 38,242) Change in fai

  28. Slide 28: Appendix

    FIRST QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 28

  29. Slide 29: Awards and Recognition

    FIRST QUARTER 2023 EARNINGS RELEASE 2022 Motor Trend Car of the Year Newsweek Powertrain Disrupter Award 2023 U.S. News & World Report Ranked #1 and six of the top Best Luxury Electric Car 2023 seven overall EV Rankings Record for longest-range & quickest-charging EV tested LUCID GROUP, INC. 29

  30. Slide 30: Efficiency Drives Multiple EV Advantages

    FIRST QUARTER 2023 EARNINGS RELEASE Efficiency Drives Multiple EV Advantages EFFICIENCY: THE ULTIMATE MEASURE OF EV TECHNOLOGY We believe efficiency is the single most relevant metric of an EV company’s technological prowess. Lucid Air Grand Today’s Market Focus Touring has an efficiency of 4.6 mile

  31. Slide 31: Ultra-efficient proprietary powertrain technology

    FIRST QUARTER 2023 EARNINGS RELEASE Ultra-efficient, proprietary powertrain technology and advanced software and battery management system (BMS) Scalable and Modular Battery Pack Built on Race Motor & Integrated State-of-the-Art, High Bidirectional Charging with In-House Software Experience Transmis

  32. Slide 32: L_ LIC ico

    L_ LIC ico

Lucid Group — Q1 2023 Earnings Presentation on 6ix