Lucid Group, Inc. · NASDAQ:LCID
Lucid — Q1 2022 Earnings Presentation
30 slides from Lucid's earnings presentation, May 5, 2022
Slide 1: First Quarter 2022 Earnings Release
FIRST QUARTER EARNINGS RELEASE First Quarter 2022 Earnings Release May 5, 2022 LUCID GROUP, INC.
Slide 2: Forward Looking Statements, Trademarks, Non-GAAP Financial Measures and Key Business Metrics
FIRST QUARTER 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 words
Slide 3: Contents
FIRST QUARTER EARNINGS RELEASE Contents Mission 4 First Quarter Highlights 5 Air Grand Touring & Grand Touring Performance 6 Unprecedented Efficiency 7 Vertically Integrated Production 9 Studio and Service Network 10 Landmark Electric Vehicle Purchase Agreement 11 Financial Highlights 13 Outlook 14
Slide 4: Lucid's mission
FIRST QUARTER EARNINGS RELEASE Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. LUCID GROUP, INC. 4
Slide 5: First Quarter Highlights
FIRST QUARTER EARNINGS RELEASE First Quarter Highlights In the first quarter of 2022, Lucid Air was recognized as a "Best Luxury KEY STATISTICS Electric Car" by US News & World Reports, the “2022 Top Pick Luxury EV" by Cars.com, and the "Best Car to Buy 2022" by Green Car Reports. Year-to-date as of
Slide 6: Introducing Air Grand Touring & Grand Touring Performance
FIRST QUARTER EARNINGS RELEASE Introducing Air Grand Touring & Grand Touring Performance We are nearing completion of Lucid Air Dream Edition deliveries and began deliveries of Lucid Air Grand Touring in the first quarter of 2022. In April, we announced the Air Grand Touring Performance will be avai
Slide 7: Unprecedented Efficiency
FIRST QUARTER EARNINGS RELEASE Unprecedented Efficiency 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 Touring has an unprecedented efficienc
Slide 8: World-Class In-House EV Powertrain
FIRST QUARTER EARNINGS RELEASE World-Class In-House EV Powertrain 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-Hous
Slide 9: Vertically Integrated Production
FIRST QUARTER EARNINGS RELEASE Vertically Integrated Production Lucid's core EV technology is not only created in-house, but also manufactured at LPM-1, Lucid's dedicated EV powertrain factory in Arizona, where Lucid produces its own electric motors, transmission systems, power electronic inverters,
Slide 10: Expanded Studio and Service Network
FIRST QUARTER EARNINGS RELEASE Expanded Studio and Service Network Lucid's direct-to-consumer sales philosophy offers an exceptional customer experience from discovery, intrigue, knowledge Q1 2022 SALES & SERVICE HIGHLIGHTS acquisition, to ownership. In Q1, Lucid's presence grew to 24 Studio and ser
Slide 11: Landmark Electric Vehicle Purchase Commitment
FIRST QUARTER EARNINGS RELEASE Landmark Electric Vehicle Purchase Commitment On April 20, Lucid signed a landmark agreement with the Government of Saudi Arabia • Saudi Arabia has undertaken to purchase up to 100,000 vehicles over a ten-year period • Initial commitment to purchase 50,000 vehicles and
Slide 12: Industry Accolades and Validation of In-House Technology
FIRST QUARTER EARNINGS RELEASE Industry Accolades and Validation of In-House Technology MEDIA VALIDATE COMPETITIVE ADVANTAGES OF INDUSTRY ACCOLADES CONTINUE LUCID’S IN-HOUSE TECHNOLOGY U.S. News & World Report(1) Cars.com Record-Setting New EV Range Record: Best Luxury Electric Vehicle 2022 Top Pick
Slide 13: Financial Highlights: Strength of Balance Sheet and Investments for Growth
FIRST QUARTER EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) Lucid ended the first quarter of 2022 with a strong cash Period Ended 03/31/22 12/31/21 % Change position of approximately $5.4 bi
Slide 14: Lucid 2022 Guidance
FIRST QUARTER EARNINGS RELEASE Lucid 2022 Guidance PRODUCTION VOLUME • 12,000 – 14,000 vehicles CASH • Sufficient liquidity well into 2023 CAPITAL EXPENDITURES • Approximately $2 billion in 2022 PRODUCT • Deliveries of Air Grand Touring Performance in June, Air Touring and Air Pure later this year •
Slide 15: Imagery
FIRST QUARTER EARNINGS RELEASE Imagery LUCID GROUP, INC. 15
Slide 16: Slide 16
Slide 17: Slide 17
Slide 18: Slide 18
Slide 19: Slide 19
Slide 20: Slide 20
Slide 21: Slide 21
Slide 22: Slide 22
Slide 23: Slide 23
Slide 24: Slide 24
Slide 25: Financials
FIRST QUARTER EARNINGS RELEASE Financials LUCID GROUP, INC. 25
Slide 26: Condensed Consolidated Balance Sheets (Unaudited)
FIRST QUARTER EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) (In thousands) March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 5,391,844 $ 6,262,905 Account
Slide 27: Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
FIRST QUARTER EARNINGS RELEASE Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Three Months Ended March 31 (in thousands, except share and per share data) 2022 2021 Revenue $ 57,675) $ 313) Cost of revenue 245,970) 85) Gross profit (loss) (188,295) 228) Operating e
Slide 28: Condensed Consolidated Statement of Cash Flows (Unaudited)
FIRST QUARTER EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended March 31 (In thousands) 2022 2021 Net cash used in operating activities $ (494,649) $ (218,726) Net cash used in investing activities (185,082) (94,779) Net cash (used in) provided by financi
Slide 29: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited)
FIRST QUARTER EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended March 31 (In thousands) 2022 2021 ADJUSTED EBITDA Net loss and comprehensive loss (GAAP) $ (81,286) $ (747,952) Interest expense 7,719) 5) Provision for income taxes 323) 4) Depreciati
Slide 30: Lucid
L_ LIC ICO