EV maker Lucid has reported an $800M Q1 net loss.
The company's Q1 revenue, however, grew 159% YoY.
- The company had $149.4M in Q1 revenue, missing investor estimations of $209M.
- Earnings per share stood at $0.43 per share.
- Lucid sold 1,406 vehicles in the year's first quarter and built 2,314.
- The company says it aims to produce 10,000 vehicles in 2023.
- As for cash reserves, Lucid reported a stockpile of $3.4B.
- This stockpile could last the company until H1 2024, according to its CFO.