Lucid Group, Inc. · NASDAQ:LCID
Lucid — Q3 2024 Earnings Presentation
42 slides from Lucid's earnings presentation, Nov 7, 2024
Slide 1: Third Quarter 2024 Earnings Release
Third Quarter 2024 Earnings Release November 7, 2024 LUCID GROUP, INC.
Slide 2: Forward Looking Statements, Trademarks, Non-GAAP Financial Measures
THIRD QUARTER 2024 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
THIRD QUARTER 2024 EARNINGS RELEASE Contents Key Achievements and Recent & Upcoming Highlights 5 Lucid Vehicle Lineup – Embarking on the Next Transformational Phase 6 Lucid’s Technology Is Many Years Ahead of Its Next Closest Competitor 7 Lucid’s Drive Unit Performance & Estimated Cost 8 Lucid’s Eff
Slide 4: The Lucid Gravity SUV, Scheduled for Start of Production Late 2024
THIRD QUARTER 2024 EARNINGS RELEASE The Lucid Gravity SUV, Scheduled for Start of Production Late 2024 LUCID GROUP, INC. 4
Slide 5: 2024 Key Achievements and Recent & Upcoming Highlights
THIRD QUARTER 2024 EARNINGS RELEASE 2024 Key Achievements and Recent & Upcoming Highlights In the Third Quarter of 2024: • Third consecutive quarter of record deliveries; achieved 90.9% year-over-year KEY STATISTICS growth (Q3’24 vs. Q3’23) and 16.2% quarter-over-quarter growth (Q3’24 vs. Q2’24) Qua
Slide 6: Embarking on the Next Transformational Phase of the Lucid Vehicle Lineup
THIRD QUARTER 2024 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) 2021 September 2023 July 2024 Scheduled for late 2024 September 2023 November 2023 July 2024 Scheduled for l
Slide 7: Lucid's Technology Is Many Years Ahead of Closest Competitor
THIRD QUARTER 2024 EARNINGS RELEASE Lucid has a significant technology advantage. If the closest competitor were to continue their rate of progress, it would take many years to match Lucid today 180 Lucid Air Competitor A Competitor B 165 Lucid Air (Trend) Competitor A (Trend) Competitor C 150 146 1
Slide 8: Drive Unit Performance and Estimated Cost
THIRD QUARTER 2024 EARNINGS RELEASE Horsepower (HP) Mass (KG) Power Density (HP/KG) Drive Unit Performance and Estimated Cost 671 HP 153 KG 8.8 HP/KG 125 KG 96 KG 362 HP 344 HP 76 KG 335 HP 3.5 HP/KG 2.8 HP/KG 2.4 HP/KG Lucid Competitor A Competitor B Competitor C Cost $1,911 $1,653 $1,999 $2,039 No
Slide 9: Battery Cost Benefit of Lucid's Efficiency Technology
THIRD QUARTER 2024 EARNINGS RELEASE Battery Cost Benefit of Lucid’s Efficiency Technology 420 miles 402 miles 352 miles 2025 Lucid Air Pure Competitor A Competitor B Efficiency (miles/kWh) 5.00 4.11 3.25 Battery Pack Size (kWh) 84 97.8 108.4 Battery Pack Cost (at $128/kWh) $10,752 $12,518 $13,875 Lu
Slide 10: World-Class In-House EV Technology
THIRD QUARTER 2024 EARNINGS RELEASE World-Class In-House EV Technology Ultra-efficient, proprietary powertrain technology and advanced software and battery management systems (BMS) Scalable and Modular Battery Pack Built on Race Motor & Integrated State-of-the-Art, High Bidirectional Charging with I
Slide 11: Lucid, a Leader in EV Technologies, Defines a New Generation of EVs
THIRD QUARTER 2024 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 12: The Lucid Air Lineup
THIRD QUARTER 2024 EARNINGS RELEASE The Lucid Air Lineup: From the Most Efficient Car on the Market to the World’s Most Powerful Four-Door Car, Unprecedented Range of Capability The most energy efficient The most well-rounded The longest-range EV on The most powerful vehicle on the US market EV on t
Slide 13: The Lucid Gravity: A Revolutionary New Class of SUV
THIRD QUARTER 2024 EARNINGS RELEASE The Lucid Gravity: A Revolutionary New Class of SUV, Conceived From the Ground Up Without Compromise Touring Grand Touring From $79,900 From $94,900 Power: 828 hp Available to order late 2025 Acceleration, 0-60 mph: under 3.5 sec Range: More than 440 miles of proj
Slide 14: The Lucid Gravity – Setting a New Standard in SUVs
THIRD QUARTER 2024 EARNINGS RELEASE The Lucid Gravity – Setting a New Standard in SUVs The Lucid Gravity SUV start of production is scheduled for late 2024 • The Lucid Gravity will have a range of trims with pricing starting at $79,900 (1) • The Lucid Gravity builds upon the groundbreaking proprieta
Slide 15: Major Advancements in Lucid's Vertically Integrated Production Capabilities
THIRD QUARTER 2024 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
THIRD QUARTER 2024 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
THIRD QUARTER 2024 EARNINGS RELEASE Track Record of Prudent Liquidity Management As of September 30, 2024, Lucid had liquidity of approximately $5.16 billion. In October 2024, Lucid announced and successfully closed its latest capital raise of approximately $1.75 billion with a public offering of co
Slide 18: Financial Highlights: Strength of Balance Sheet and Investments for Growth
THIRD QUARTER 2024 EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) 9/30/24 12/31/23 Lucid ended the third quarter of 2024 with approximately $4.03 billion cash, cash equivalents and investment
Slide 19: Lucid Guidance
THIRD QUARTER 2024 EARNINGS RELEASE Lucid Guidance 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 well into 2026 (
Slide 20: Imagery
THIRD QUARTER 2024 EARNINGS RELEASE Imagery LUCID GROUP, INC. 20
Slide 21: Lucid Gravity and Air
LUCID GROUP, INC. Lucid Gravity and Air 21
Slide 22: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 22
Slide 23: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 23
Slide 24: Lucid Technology & Manufacturing Day | AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Technology & Manufacturing Day | AMP-1 (Arizona Factory) 24
Slide 25: Lucid Technology & Manufacturing Day | AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Technology & Manufacturing Day | AMP-1 (Arizona Factory) 25
Slide 26: Lucid Sapphire on a closed course
LUCID GROUP, INC. Lucid Sapphire on a closed course | Lucid Technology & Manufacturing Day, AMP-1 (Arizona Factory) 26
Slide 27: Lucid Gravity at AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Gravity at AMP-1 (Arizona Factory) 27
Slide 28: Lucid Gravity and Air at AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Gravity and Air at AMP-1 (Arizona Factory) 28
Slide 29: Lucid Gravity at AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Gravity at AMP-1 (Arizona Factory) 29
Slide 30: Lucid Gravity at AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Gravity at AMP-1 (Arizona Factory) 30
Slide 31: Lucid Air at AMP-1 (Arizona Factory)
LUCID GROUP, INC. Lucid Air at AMP-1 (Arizona Factory) 31
Slide 32: Lucid Air and Lucid Gravity
LUCID GROUP, INC. Lucid Air and Lucid Gravity 32
Slide 33: Lucid Air
LUCID GROUP, INC. Lucid Air 33
Slide 34: Financials
THIRD QUARTER 2024 EARNINGS RELEASE Financials LUCID GROUP, INC. 34
Slide 35: Condensed Consolidated Balance Sheets (Unaudited)
THIRD QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) LIABILITIES, REDEEMABLE CONVERTIBLE September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 (In thousands) PREFERRED STOCK, AND STOCKHOLDERS’ ASSETS EQUITY Current assets: Current liabilities: Cas
Slide 36: Condensed Consolidated Statements of Operations & Comprehensive Loss
THIRD QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Statements of Operations & Comprehensive Loss (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Revenue $ 200,038) $ 137,814) $ 573,359) $ 438,120
Slide 37: Condensed Consolidated Statement of Cash Flows (Unaudited)
THIRD QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 Net cash used in operating activities $ (462,795) $ (513,582) $ (1,486,527) $ (2,015,204) Net cash provid
Slide 38: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited)
THIRD QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 ADJUSTED EBITDA Net loss attributable to common stockholders, basic and diluted (GAAP) $ (949,637)
Slide 39: Reconciliation of GAAP to Non-GAAP Financial Measures – Continued
THIRD QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except share and per share data) 2024 2023 2024 2023 ADJUSTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS
Slide 40: Reconciliation of GAAP to Non-GAAP Financial Measures – Continued
THIRD QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 FREE CASH FLOW Net cash used in operating activities (GAAP) $ (462,795) $ (513,582) $
Slide 41: Appendix
THIRD QUARTER 2024 EARNINGS RELEASE Appendix LUCID GROUP, INC. 41
Slide 42: Select Awards
THIRD QUARTER 2024 EARNINGS RELEASE Select Awards 10Best List World Luxury Car Car of the Year 2024 (1) 2023 (2) 2022 (3) Best Luxury US-Built Luxury Newsweek 10 Best Engines and 10 Best Electric Bloomberg Green Electric Car 2022, Vehicle of the Year Powertrain of the Year Propulsion Systems Cars 20