Lucid Group, Inc. (NASDAQ:LCID) Q3 2024 Results Conference Call November 7, 2024 5:30 PM ET

Company Participants

Maynard Um - Senior Director of Investor Relations
Peter Rawlinson - Chief Executive Officer and Chief Technology Officer
Gagan Dhingra - Interim Chief Financial Officer and Principal Accounting Officer

Conference Call Participants

John Murphy - BofA Securities
Andres Sheppard - Cantor Fitzgerald
Stephen Gengaro - Stifel
Steven Fox - Fox Advisors
Tobias Beith - Redburn Atlantic

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Lucid Group Third Quarter 2024 Earnings Conference Call. Please be advised that today's conference is being recorded. Later we will conduct a question-and-answer session. [Operator Instructions].

I would now like to turn the conference over to your speaker for today, Maynard Um, Senior Director of Investor Relations. Please go ahead.

Maynard Um

Thank you, and welcome to Lucid Group's third quarter 2024 earnings call. Joining me today are Peter Rawlinson, our CEO and CTO; and Gagan Dhingra, our Interim CFO and Principal Accounting Officer.

Before handing the call over to Peter, let me remind you that some of our statements on this call include forward-looking statements under federal securities laws. These include, without limitation, statements regarding the future financial performance of the company, production and delivery volumes, financial and operating outlook and guidance, macroeconomic and industry trends, company initiatives, and other future events.

These statements are based on predictions and expectations as of today and actual events or results may differ due to a number of risks and uncertainties. We refer you to the cautionary language and the risk factors in our most recent filings with the SEC and the forward-looking statements on Page 2 of our investor deck available on the Investor Relations section of our website at ir.lucidmotors.com.

In addition, management will make reference to non-GAAP financial measures during this call. A discussion of why we use non-GAAP financial measures and information regarding reconciliation of our GAAP vs non-GAAP results is available in our earnings press release issued earlier this afternoon as well as in the investor deck.

With that, I'd like to turn the call over to Lucid 's CEO and CTO Peter Rawlinson. Peter, please go ahead.

Peter Rawlinson

Thank you, Maynard. And thank you, everyone, for joining us on our third quarter 2024 earnings call.

Now, before I get to the third quarter results, I'd like to start by thanking all our employees, suppliers and partners for their support and hard work. I'd like also to thank our investors and the PIF for their continuous support and partnership. Our last month we raised approximately $1.75 billion through a public offering of common stock of approximately $719 million and a corresponding pro rata investment by an affiliate of the Public Investment fund of approximately $1.026 billion.