- Produced 3,386 vehicles in Q4 and 9,029 vehicles in 2024, in line with the 2024 annual production guidance of 9,000 vehicles
- Delivered 3,099 vehicles in Q4 and 10,241 vehicles in 2024; up 79% compared to Q4 2023 and up 71% compared to full year 2023
- Q4 revenue of $234.5 million and annual revenue of $807.8 million
- GAAP net loss per share of $(0.22) in Q4 and $(1.25) in full year 2024; non-GAAP net loss per share of $(0.22) in Q4 and $(1.04) in full year 2024
- Ended the quarter with approximately $6.13 billion in total liquidity
- 2025 production guidance of approximately 20,000 vehicles
- Announced CEO transition; Marc Winterhoff, COO, appointed Interim CEO, Peter Rawlinson to serve as Strategic Technical Advisor to the Chairman of the Board, stepping aside from his prior roles
NEWARK, Calif., Feb. 25, 2025 -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced financial results for its fourth quarter and full year ended December 31, 2024. The earnings presentation is available on its investor relations website (https://ir.lucidmotors.com).
The Company produced 3,386 vehicles during Q4 and delivered 3,099 vehicles during the same period. On a full-year basis, the Company produced 9,029 vehicles, in line with the 2024 annual production guidance of approximately 9,000 vehicles, and delivered 10,241 vehicles in 2024. Lucid today also announced its 2025 annual production guidance of approximately 20,000 vehicles, and will continue to prudently manage and adjust production to meet sales and delivery needs.
Lucid reported fourth quarter revenue of $234.5 million and annual revenue of $807.8 million, ending the quarter with approximately $6.13 billion in total liquidity.
"I am incredibly proud of the accomplishments the Lucid team have achieved together through my tenure of these past twelve years," said Peter Rawlinson. "We grew from a tiny company with a big ambition, to a widely recognized technological world leader in sustainable mobility. It has been my honor to have led and grown this remarkable, truly world class team, because Lucid has always been first and foremost about a team effort. I look forward to continuing to serve as Strategic Technical Advisor to the Chairman of the Board and hence I am delighted to remain a part of the Lucid family to support the continued success and growth of the company."
"2024 was a transformational year for Lucid and I am honored to step into this role as Lucid enters the next phase of its journey," said Marc Winterhoff, Interim CEO. "We have an extremely talented team that is laser-focused on ramping production of Lucid Gravity, our technology licensing business, our Midsize platform vehicles, and further monetization opportunities."
"We saw significant momentum in 2024 with four consecutive quarters of record deliveries," said Gagan Dhingra, Interim CFO. "Additionally, we made substantial progress in improving our gross margins, managing our operating expenses while balancing strategic growth investments, and strengthening our balance sheet with the support of the Public Investment Fund (PIF)."
Lucid will host a conference call for analysts and investors at 2:30 P.M. PT / 5:30 P.M. ET on February 25, 2025. The live webcast of the conference call will be available on the Investor Relations website at ir.lucidmotors.com. Following the completion of the call, a replay will be available on the same website. Lucid uses its ir.lucidmotors.com website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
Investor Relations Contact
investor@lucidmotors.com
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