From Financial Modeling Prep.: 2024-11-08 07:47:00

Lucid Group (NASDAQ:LCID) stock surges over 7% in pre-market trading following Q3 results that beat expectations. Revenue hits $200 million, surpassing forecasts, with 2,781 vehicles delivered – a 90.9% increase from last year. Adjusted loss per share at $0.28, better than estimated $0.31 loss.

In Q3, Lucid produces 1,805 vehicles, reiterates full-year target of around 9,000 vehicles. Ending Q3 with $5.16 billion in liquidity, the company strengthens its financial position with a $1.75 billion capital raise in October, extending runway to 2026. Improved gross margins noted due to cost reduction efforts.



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