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Lucid Reports Heavier Cash Burn and Losses in Latest Quarter

Lucid Motors logoLucid Motors
Sig3.30Sen-6.90Env0.00Soc0.00Gov-0.90

Lucid Group’s latest quarterly results renewed pressure on the EV stock after heavy cash burn and earnings that fell short of expectations. In the prior year’s quarter, production and deliveries were 3,863 and 3,309 vehicles, while Gravity helped lift both by 23.5% and 19.4%. Q2 operating losses neared $1.1B and operating cash burn exceeded $1.2B, up from about $800M and $830M. The share count rose from 327.7M to 394.1M in six months.

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