← Lucid Group, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Net loss | ($277.4m) | ($719.4m) | ($2.6b) | ($1.3b) | ($2.8b) | ($2.7b) | ($2.7b) | — | |
| Depreciation and amortization | $3.8m | $10.2m | $62.9m | $186.6m | $233.5m | $295.3m | $451.2m | $480.8m | |
| Amortization of insurance premium | $0 | $0 | $18.5m | $35.6m | $39.5m | $33.3m | $35.5m | — | |
| Stock-based compensation | $7.7m | $4.6m | $516.8m | $423.5m | $257.3m | $285.9m | $271.3m | $295.1m | |
| Accounts receivable (including $(62,631), $(22,383), and $(35,526) from a related party for the years ended December 31, 2025, 2024, and 2023, respectively) | $984k | $148k | ($2.9m) | ($16.5m) | ($32.5m) | ($61.3m) | ($65.7m) | ($100.7m) | |
| Inventory and firm purchase commitments write-downs | — | $0 | $48.9m | $569.5m | $906.1m | $590.2m | $799.1m | — | |
| Inventory | ($188k) | ($359k) | ($175.1m) | ($1.3b) | ($658.0m) | ($334.2m) | ($1.4b) | ($1.7b) | |
| Accounts payable | $5.8m | ($69.9m) | $4.4m | $180.5m | ($139.5m) | $34.8m | $318.5m | $121.6m | |
| Increases (decrease) in accounts payable and accrued liabilities related to property, plant and equipment (including $81,580, $(19,725) and $8,530 associated with a related party for the years ended December 31, 2025, 2024, and 2023, respectively) | $32.9m | $117.9m | $101.1m | $42.7m | $35.8m | ($68.9m) | $129.3m | — | |
| Other assets | — | — | — | — | ($117.0m) | ($203.9m) | ($155.3m) | — | |
| Other liabilities (including $2,100, $4,900, and $107,763 associated with a related party for the years ended December 31, 2025, 2024, and 2023, respectively) | — | — | — | — | $32.9m | $257.3m | $307.4m | — | |
| Net cash used in operating activities | ($235.3m) |
($570.2m)
-142.33%
|
($1.1b)
-85.57%
|
($2.2b)
-110.39%
|
($2.5b)
-11.84%
|
($2.0b)
+18.88%
|
($2.9b)
-45.17%
|
($4.1b)
-39.19%
|
|
| Purchases of property, plant and equipment (including $(225,864), $(164,683), and $(80,511) from a related party for the years ended December 31, 2025, 2024, and 2023, respectively) | $104.3m | ($459.6m) | ($421.2m) | ($1.1b) | ($910.6m) | ($883.8m) | ($868.2m) | — | |
| Government grant (related party) reflected in property, plant and equipment | $451k | $3.3m | $93.8m | ($33.3m) | ($99.0m) | ($62.5m) | $0 | — | |
| Property, plant and equipment and right-of-use assets obtained through leases | $451k | $3.3m | $93.8m | $157.9m | $32.5m | $24.2m | $184.2m | — | |
| Purchases of investments (including $(30,000), $(35,000), and nil from a related party for the years ended December 31, 2025, 2024, and 2023, respectively) | — | $0 | $0 | ($3.9b) | ($4.0b) | ($4.6b) | ($309.6m) | — | |
| Proceeds from maturities of investments (including $15,000 from a related party for the year ended December 31, 2025, and nil for the years ended December 31, 2024 and 2023) | — | $0 | $0 | $1.1b | $3.7b | $4.1b | $2.7b | — | |
| Proceeds from sale of investments | — | — | $505k | $0 | $148.4m | $100.2m | $0 | $1.8b | |
| Other investing activities | — | — | $22k | $323k | ($4.8m) | $0 | $2.1m | — | |
| Net cash provided by (used in) investing activities | ($104.3m) | ($459.6m) | ($420.7m) | ($3.7b) | ($947.0m) | ($1.3b) | $1.5b | $763.3m | |
| Gain on extinguishment of debt | — | — | — | — | $0 | $0 | ($121.8m) | — | |
| Proceeds from convertible debt | $70.9m | $0 | $2.0b | $0 | $0 | $0 | $2.1b | — | |
| Proceeds from borrowings from a related party | — | — | — | $29.8m | $62.9m | $79.8m | $341.2m | — | |
| Repayment of borrowings to a related party | — | — | — | ($20.2m) | $0 | ($25.9m) | $0 | — | |
| Change in fair value of common stock warrant liability | $406k | $1.2m | $6.9m | ($2.5b) | ($173.8m) | ($34.1m) | ($19.5m) | — | |
| Proceeds from issuance of common stock | — | $0 | $0 | $1.5b | $3.0b | $1.7b | $300.0m | $792.5m | |
| Net cash provided by financing activities | $621.4m |
$1.3b
+107.67%
|
$7.1b
+452.98%
|
$1.3b
-81.12%
|
$3.1b
+127.94%
|
$3.5b
+15.59%
|
$887.3m
-75.00%
|
$2.3b
+162.22%
|
|
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $281.8m | $260.8m | $5.7b | ($4.6b) | ($365.8m) | $235.5m | ($566.1m) | — | |
| Beginning cash, cash equivalents, and restricted cash | $379.7m | $640.4m | $6.3b | $1.7b | $1.4b | $1.6b | $1.0b | — | |
| Additional Supplementary Disclosures | |||||||||
| Additional Supplementary Disclosures | |||||||||
| Non-cash operating lease cost | $0 | $0 | $12.6m | $19.7m | $26.2m | $30.8m | $47.5m | ($4.1b) | |
| Change in fair value of equity securities of a related party | — | — | $0 | $0 | ($6.0m) | $43.1m | $15.8m | — | |
| Change in fair value of derivative liabilities associated with redeemable convertible preferred stock (related party) | — | — | — | $0 | $0 | ($155.3m) | ($623.2m) | — | |
| Net accretion of investment discounts/premiums | — | — | $0 | ($20.7m) | ($105.4m) | ($76.7m) | ($23.6m) | — | |
| Other non-cash items | — | $139k | $289k | ($10.3m) | $34.2m | $6.0m | $20.0m | — | |
| Prepaid expenses | ($27.6m) | $7.8m | ($25.0m) | ($28.8m) | ($45.6m) | ($16.7m) | ($42.0m) | — | |
| Proceeds from government grant | — | $0 | $0 | $97.3m | $97.5m | $0 | $0 | — | |
| Proceeds from issuance of redeemable convertible preferred stock to a related party | $600.0m | $1.3b | $603.0m | $0 | $0 | $1.8b | $0 | — | |
| Payments of issuance costs for redeemable convertible preferred stock | — | — | — | $0 | $0 | ($3.0m) | $0 | — | |
| Payments of issuance costs for the 2025 Subscription Agreement | — | — | — | — | $0 | $0 | ($278k) | — | |
| Payment for issuance costs | — | $0 | ($15.9m) | ($6.6m) | $0 | ($6.2m) | ($29.8m) | — | |
| Purchase of capped call options | — | — | — | — | $0 | $0 | ($118.2m) | — | |
| Repurchases of 2026 Notes | — | — | — | — | $0 | $0 | ($1.7b) | — | |
| Proceeds from exercise of stock options | $483k | $3.3m | $8.1m | $17.8m | $10.3m | $4.9m | $2.3m | — | |
| Proceeds from employee stock purchase plan | — | $0 | $0 | $24.6m | $23.8m | $19.2m | $22.8m | — | |
| Tax withholding payments for net settlement of employee awards | $0 | $0 | ($22.1m) | ($218.8m) | ($17.6m) | ($10.0m) | ($12.9m) | — | |
| Payments for finance lease liabilities | $0 | $0 | ($3.1m) | ($5.0m) | ($5.4m) | ($3.2m) | ($3.5m) | — | |
| Payments for credit facility issuance costs | — | — | — | — | $0 | ($6.2m) | ($9.7m) | — | |
| Cash paid for interest, net of amounts capitalized | $30k | $51k | $627k | $23.2m | $18.2m | $25.5m | $55.8m | — | |
| Cash paid for taxes | — | $0 | $0 | $480k | $37k | $88k | $4.5m | — | |
| Equity securities obtained through Strategic Technology Arrangement | — | — | $0 | $0 | $73.2m | $0 | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.