Lucid's second-quarter revenue fell short of expectations, with just over $150 million generated. Deliveries of its Air electric luxury sedan also fell short. However, a recent $3 billion capital raise has extended the company's cash runway into 2025.
Lucid generated just over $150 million in revenue in the second quarter, less than Wall Street had expected.But a $3 billion capital raise in May has extended the company's cash runway by about a year, into 2025.In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California.reported that its second-quarter revenue fell short of Wall Street's expectations after it delivered fewer of its Air luxury sedans than expected during the period.
But a recent capital raise has extended the EV maker's runway by a year, into 2025. The company also said it has begun to ship vehicles to Saudi Arabia. That country's Ministry of Finance agreed last year toHere are the key numbers from Lucid's second-quarter report, together with Wall Street consensus estimates as reported by Refinitiv:40 cents.
Lucid's net loss for the quarter was $764.2 million, or 40 cents per share. A year ago, Lucid reported a net loss of $555.3 million, or 33 cents per share. Revenue in the second quarter rose to $150.9 million from $97.3 million in the
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