Lucid Announces Third Quarter 2024 Financial Results
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Lucid Group, Inc. reported its Q3 2024 financial results, highlighting a 90.9% increase in vehicle deliveries compared to Q3 2023, with 2,781 vehicles delivered. The company produced 1,805 vehicles in Q3 and is on track for an annual production of approximately 9,000 vehicles. Lucid reported Q3 revenue of $200 million and a GAAP net loss per share of $(0.41). The company ended the quarter with $5.16 billion in liquidity and completed a $1.75 billion capital raise in October 2024.
November 07, 2024 | 9:15 pm
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Lucid Group reported a significant increase in vehicle deliveries and maintained strong liquidity, but faced a GAAP net loss per share of $(0.41). The company also completed a substantial capital raise post-Q3.
The significant increase in vehicle deliveries and strong liquidity position are positive indicators for Lucid's growth potential. The capital raise further strengthens its financial position, which could positively impact the stock price in the short term despite the reported net loss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100