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Sep 30, 2022
Lucid Q3 2022 Earnings Report
Lucid reported Q3 revenue of $195.5 million on deliveries of 1,398 vehicles and is on track for annual production guidance.
Key Takeaways
Lucid Group, Inc. announced financial results for the third quarter ended September 30, 2022. The company reported revenue of $195.5 million driven by customer deliveries of 1,398 vehicles. Lucid ended the quarter with approximately $3.85 billion cash, cash equivalents, and investments.
Record quarterly production of 2,282 vehicles, more than triple Q2
On track for annual production guidance of 6,000 to 7,000 vehicles
Q3 revenue of $195.5M driven by customer deliveries of 1,398 vehicles in the quarter
Strong demand with over 34,000 reservations, representing potential sales of over $3.2B
Lucid
Lucid
Forward Guidance
Lucid is on track to achieve its 2022 production target of 6,000-7,000 vehicles and plans to open reservations for Project Gravity SUV in early 2023.