Lucid Group Inc. (LCID) Financial Statements (2024 and earlier)

Company Profile

Business Address 7373 GATEWAY BLVD.
NEWARK, CA 94560
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3711 - Motor Vehicles and Passenger Car Bodies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,994,3893,859,7454,422,5975,249,2942,978,4153,912,996
Cash and cash equivalents2,169,4891,369,9471,164,3912,775,339900,0381,735,765
Short-term investments1,824,9002,489,7983,258,2062,473,9552,078,3772,177,231
Receivables126,93051,82223,37020,5702,58319,542
Inventory, net of allowances, customer advances and progress billings565,653696,236798,974849,7811,017,570834,401
Inventory565,653696,236798,974849,7811,017,570834,401
Prepaid expense72,13569,68276,36873,45562,36763,548
Other current assets74,89079,67070,18563,82858,89781,541
Total current assets:4,833,9974,757,1555,391,4946,256,9284,119,8324,912,028
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization84,03685,05586,25487,58188,98290,386
Operating lease, right-of-use asset217,699221,508221,657223,890213,193215,160
Long-term investments and receivables627,591461,029479,727288,081441,727529,974
Long-term investments627,591461,029479,727288,081441,727529,974
Other noncurrent assets185,352262,159175,299171,589163,29555,300
Other undisclosed noncurrent assets2,948,3662,725,8122,586,8032,386,9832,233,9022,076,390
Total noncurrent assets:4,063,0443,755,5633,549,7403,158,1243,141,0992,967,210
TOTAL ASSETS:8,897,0418,512,7188,941,2349,415,0527,260,9317,879,238
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities202,130201,218166,144209,084230,613292,406
Accounts payable101,489108,724104,602140,083145,746229,084
Accrued liabilities100,64192,49461,54269,00184,86763,322
Debt7,5488,2028,9649,65310,23910,586
Other liabilities827,041798,990862,752666,856774,108634,567
Total current liabilities:1,036,7191,008,4101,037,860885,5931,014,960937,559
Noncurrent Liabilities
Long-term debt and lease obligation2,074,0582,074,6132,072,6922,073,5142,071,9582,073,176
Long-term debt, excluding current maturities1,998,2511,996,9601,995,6731,994,3911,993,1131,991,840
Finance lease, liability75,80777,65377,01979,12378,84581,336
Liabilities, other than long-term debt1,023,014524,339345,724356,846360,770378,212
Other liabilities525,914524,339345,724356,846360,770378,212
Derivative instruments and hedges, liabilities497,100     
Other undisclosed noncurrent liabilities26,61053,66478,943139,259181,392140,590
Total noncurrent liabilities:3,123,6822,652,6162,497,3592,569,6192,614,1202,591,978
Total liabilities:4,160,4013,661,0263,535,2193,455,2123,629,0803,529,537
Temporary equity, carrying amount504,450     
Equity
Equity, attributable to parent4,232,1904,851,6925,406,0155,959,8403,631,8514,349,701
Common stock231230229228183183
Treasury stock, value(20,716)(20,716)(20,716)(20,716)(20,716)(20,716)
Additional paid in capital15,134,68615,066,08014,981,85114,904,37011,809,78111,752,138
Accumulated other comprehensive income (loss)(2,400)4,850(10,363)(9,950)(7,537)(11,572)
Accumulated deficit(10,879,611)(10,198,752)(9,544,986)(8,914,092)(8,149,860)(7,370,332)
Total equity:4,232,1904,851,6925,406,0155,959,8403,631,8514,349,701
TOTAL LIABILITIES AND EQUITY:8,897,0418,512,7188,941,2349,415,0527,260,9317,879,238

Income Statement (P&L) ($ in thousands)

6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
Revenues172,740157,151137,814150,874149,432257,713
Cost of revenue(404,796)(410,015)(469,722)(555,805)(500,524)(615,291)
Cost of goods and services sold      (204,926)
Gross profit:(232,056)(252,864)(331,908)(404,931)(351,092)(357,578)
Operating expenses(497,859)(484,003)(420,967)(432,754)(421,069)(392,161)
Operating loss:(729,915)(736,867)(752,875)(837,685)(772,161)(749,739)
Nonoperating income (expense)49,24483,115122,27774,040(7,238)276,930
Investment income, nonoperating50,63158,68066,06439,52540,00529,472
Interest and debt expense(7,501)(7,777)(3,340)(6,690)(7,108)(8,075)
Loss from continuing operations before equity method investments, income taxes:(688,172)(661,529)(633,938)(770,335)(786,507)(480,884)
Other undisclosed income from continuing operations before income taxes7,5017,7773,3406,6907,1088,075
Loss from continuing operations before income taxes:(680,671)(653,752)(630,598)(763,645)(779,399)(472,809)
Income tax expense (benefit)(188)(14)(296)(587)(129)161
Net loss attributable to parent:(680,859)(653,766)(630,894)(764,232)(779,528)(472,648)
Preferred stock dividends and other adjustments(3,901)     
Net loss available to common stockholders, basic:(684,760)(653,766)(630,894)(764,232)(779,528)(472,648)
Dilutive securities, effect on basic earnings per share      (255,899)
Net loss available to common stockholders, diluted:(684,760)(653,766)(630,894)(764,232)(779,528)(728,547)

Comprehensive Income ($ in thousands)

6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
Net loss:(680,859)(653,766)(630,894)(764,232)(779,528)(472,648)
Comprehensive loss:(680,859)(653,766)(630,894)(764,232)(779,528)(472,648)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,250)15,213(413)(2,413)4,0351,694
Comprehensive loss, net of tax, attributable to parent:(688,109)(638,553)(631,307)(766,645)(775,493)(470,954)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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