In this video I reveal the 2020 financial results (P+L and Balance sheet) of Lucid Motors. I dissect the results, telling you about their financial performance AND expose Peter Rawlinson's Annual Salary.
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Looking at Revenues for Lucid Motors or CCIV for 2019 and 2020, we can see that they generate around $4/4.5m with a 15-20% profit margin. These revenues come from supplying all formula E racing teams with battery technology.
They spent a whopping $500m on R&D and $90m on sales & general expenses in 2020, with $200m and $40m in 2019, this is tiny compared to Tesla ($500m and $1bn in Q4 alone!) but interesting compared to Nio ($381m and $600m).
Lucid Motors spend more on R&D than Nio, but substantially less in sales & general expenditure. It seems that Lucid Motors are trying to perfect their craft, and they've been benefitting from FREE social media advertisement.
The S4 form also provides an extended 2030 forecast, showing the increase in vehicle deliveries expected from the new Saudi Factory.
Peter Rawlinson took home total compensation of $681k, Erich Bach, over $1m and the VP of finance also took home over $600k. They also have substantial amounts of un-exercised share options.
The balance sheet of Lucid Motors or CCIV looks very bullish, $600m cash, $700m assets and only $38m debt (+$2.5bn preference shares converting to equity).
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