Lucid Group, Inc. · NASDAQ:LCID
Lucid — Q2 2023 Earnings Presentation
29 slides from Lucid's earnings presentation, Aug 7, 2023
Slide 1: Second Quarter Earnings Release
SECOND QUARTER EARNINGS RELEASE August 7, 2023 LUCID GROUP, INC.
Slide 2: Forward-looking statements
SECOND 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: Agenda
SECOND QUARTER EARNINGS RELEASE Mission 4 Second 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 Outl
Slide 4: Second Quarter 2023 Earnings Release
SECOND QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 4
Slide 5: Second Quarter & Recent Highlights
SECOND QUARTER 2023 EARNINGS RELEASE • Aston Martin signed a strategic agreement to access Lucid’s industry-leading technologies, which will be at the center of its all-new in-house Battery Electric KEY STATISTICS Vehicle platform. This landmark agreement marks the first such relationship for Lucid
Slide 6: Lucid Core Strengths
SECOND 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, & m
Slide 7: The Lucid Air – Uncompromised Excellence
SECOND QUARTER 2023 EARNINGS RELEASE Pure AWD Touring Grand Touring From $82,400 From $95,000 From $125,600 Power: 480 hp Power: 620 hp Power: 819 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.
Slide 8: Gravity SUV
SECOND QUARTER 2023 EARNINGS RELEASE • Lucid Gravity SUV entered on-road testing phase of development process • This luxury electric SUV will offer comfortable seating for up to seven adults with space for their gear, the driving dynamics of a sports car, and greater electric range than any SUV on t
Slide 9: Vertically Integrated Production
SECOND 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
Slide 10: Q2 2023 Sales & Service Highlights
SECOND 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 36 Studios and service centers in North America, 4 in Europe, and 1 in S
Slide 11: Track Record of Prudent Liquidity Management
SECOND QUARTER 2023 EARNINGS RELEASE As of June 30, 2023, Lucid had liquidity of approximately $6.25 billion, which we believe is sufficient liquidity through Gravity SOP and into 2025. In May 2023, Lucid announced its latest capital raise of ~$3B with a public offering of common stock and correspon
Slide 12: Financial Highlights
SECOND QUARTER 2023 EARNINGS RELEASE BALANCE SHEET (in millions, unless otherwise stated; unaudited) 6/30/23 12/31/22 Lucid ended the second quarter of 2023 with over $5.5 billion cash, cash equivalents and investments. As of June 30, 2023, Lucid had total liquidity Cash, Cash Equivalents and Invest
Slide 13: Outlook
SECOND QUARTER 2023 EARNINGS RELEASE PRODUCTION VOLUME • Production of more than 10,000 vehicles CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into 2025 CAPITAL EXPENDITURES • Approximately $1.1-$1.3 billion in 2023 PRODUCT • Lucid Air Pure will be available in higher volumes
Slide 14: Imagery
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Slide 20: Financials
SECOND QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 20
Slide 21: Consolidated Balance Sheets
SECOND QUARTER 2023 EARNINGS RELEASE (In thousands) June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 2,775,339 $ 1,735,765 Accounts payable $ 140,083 $ 229,084 Short-term inves
Slide 22: Statements of Operations
SECOND QUARTER 2023 EARNINGS RELEASE Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2023 2022 2023 2022 Revenue $ 150,874) $ 97,336) $ 300,306) $ 155,011) Cost of revenue 555,805) 292,342) 1,056,329) 538,312) Gross profit (loss) (404,931) (195,0
Slide 23: Statements of Cash Flows
SECOND QUARTER 2023 EARNINGS RELEASE Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2023 2022 2023 2022 Net cash used in operating activities $ (700,358) $ (513,628) $ (1,501,622) $ (1,008,277) Net cash used in investing activities (437,972) (1,729,041) (466,688) (1,914,123) Ne
Slide 24: Adjusted EBITDA and Free Cash Flow Reconciliation
SECOND QUARTER 2023 EARNINGS RELEASE Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2023 2022 2023 2022 ADJUSTED EBITDA Net loss (GAAP) $ (764,232) $ (220,425) $ (1,543,760) $ (301,711) Interest expense 6,690) 7,189) 13,798) 14,908) Interest income (39,525) (2,911) (79,530) (2,
Slide 25: Appendix
SECOND QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 25
Slide 26: Awards and Recognition
SECOND QUARTER 2023 EARNINGS RELEASE 10 Best Electric Cars of 2023 Newsweek Powertrain Disrupter Award Best Luxury Electric Cars of 2023 2023 Best for Performance U.S. News & World Report Best Luxury Electric Car 2023 Record for longest-range & quickest-charging EV tested Ranked #1 and six of the to
Slide 27: Efficiency Drives Multiple EV Advantages
SECOND 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 mil
Slide 28: Proprietary Powertrain Technology
SECOND 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
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