Lucid Exceeds Q3 Revenue Forecasts Despite Growing Losses

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 and 1,805 produced. The company generated $200 million in revenue but reported a GAAP net loss per share of $(0.41). Lucid ended the quarter with $5.16 billion in liquidity and completed a $1.75 billion capital raise in October 2024. The company is on track to produce approximately 9,000 vehicles in 2024 and has opened orders for its new Lucid Gravity SUV.