PR Newswire·Nov 9, 2026, 4:05 PM ET

Lucid Announces Third Quarter 2026 Results, Reduces Cash Consumption by 30%, Transformation on Track, Liquidity increased by $1.75 billion

Lucid Group reported a 30% sequential reduction in quarterly cash consumption to $1.04 billion for the third quarter ended September 30, 2026.
Total liquidity increased to $2.0 billion, rising to a pro forma $3.75 billion after a $1.75 billion expansion of the DDTL facility supported by PIF.
Third quarter revenue reached $350 million, representing a 4% year-over-year increase despite a 41% decline in the US BEV market.
The company advanced all four Must-Win priorities: achieving $0.8 billion in year-to-date savings toward a $1.4 billion cash flow plan, expanding autonomy partnerships with Uber, Nuro, & Bolt, finalizing AMP-2 industrialization in Saudi Arabia for early 2027 inauguration, & progressing Midsize vehicle prototyping for H2 2027 production.
Lucid expects its current liquidity to fund operations & key investments through Q4 2027, bridging operations until Midsize vehicle production begins.
Net loss for the three months ended September 30, 2026, was $830.9 million, with adjusted net loss per share diluted at $2.30.
Construction of the Advanced Manufacturing Plant 2 (AMP-2) in Saudi Arabia is in final industrialization stages, with inauguration planned for early 2027.
Midsize vehicle testing & validation continued in Q3, with pilot production in the final phase & production dates expected in Q1 2027.
The company's transformation includes strategic investments in leadership, customer experience, brand revamp, & foundations for profitable growth.