Lucid posts Q1 loss despite revenue and production rise

Electric conveyance shaper Lucid Group reported archetypal 4th 2026 gross of $282.4m, up 20% year-on-year, portion conveyance accumulation roseate 149%.

During the period, the institution posted a nett nonaccomplishment of $1.02bn, compared with a nett nonaccomplishment of $366.2m successful Q1 2025.

Loss from operations accrued to $989.4m from $691.9m a twelvemonth earlier.

The institution said this reflected higher costs crossed outgo of revenue, probe and development, and selling, wide and administrative expenses, arsenic good arsenic $37.9m successful workforce simplification charges.

Net nonaccomplishment per stock attributable to communal stockholders was $3.46, compared with $2.41 successful Q1 2025.

During the quarter, Lucid produced 5,500 units and delivered 3,093 vehicles.

The institution said deliveries successful January and March were supra prior-year levels, portion February was affected by a spot supplier contented that disrupted Lucid Gravity deliveries.

Sales successful March accrued 14% from March 2025, and full bid intake successful North America roseate 144% successful March from the anterior month.

Lucid interim CEO Marc Winterhoff said: “First 4th results demonstrated the spot of our exertion and merchandise portfolio. A supplier contented resolved during the 4th had an impact, but January and March deliveries were up of the aforesaid periods successful the anterior year.”

On 14 April, Lucid announced a superior rise of astir $1.05bn.

This included $550m successful convertible preferred banal issued to Ayar Third Investment Company – an affiliate of the Public Investment Fund (PIF) - $300m successful gross proceeds from a registered communal banal offering, and a $200m equity concern successful communal banal from Uber.

The institution said Uber's full concern successful Lucid present stands astatine $500m.

Last month, Lucid besides announced the assignment of Silvio Napoli arsenic its adjacent main enforcement officer.

Winterhoff volition stay with the institution successful his erstwhile relation arsenic main operating serviceman erstwhile Napoli takes up the CEO position.

In the aforesaid month, Lucid expanded its robotaxi concern with Uber to a minimum of 35,000 vehicles, covering Lucid Gravity and Lucid Midsize models.

During the quarter, the institution completed transportation of each Lucid Gravity robotaxi alpha trial vehicles, and employees astatine spouse companies began trial rides done the Uber app.

Lucid said it is taking steps to align accumulation with anticipated deliveries and lawsuit demand.

"Lucid posts Q1 nonaccomplishment contempt gross and accumulation rise" was primitively created and published by Just Auto, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.