The Bad News Beat
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Thursday, November 12, 2026 · UTC
Markets

Lucid misses on revenue and earnings and borrows $1.75 billion more from Saudi Arabia

The loss was $2.74 a share on $350 million of revenue. The new money from the Public Investment Fund nearly doubles the cash the carmaker has to work with.

Ruth Calder
Markets Writer
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Stands on 12 placed sources from 2 publishers.
As of 2026-11-12 01:19 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.
Lucid missed Wall Street's expectations for both earnings and revenue in the third quarter.[1] The electric carmaker lost $2.74 a share.[2] Revenue was $350 million, up 4% from a year earlier.[3] On the same day it increased a loan from Saudi Arabia's Public Investment Fund by $1.75 billion.[4] The cash Lucid ended the quarter with $2.0 billion in total liquidity.[5] The added loan takes that to $3.75 billion.[6] The fund's support accounts for the whole increase.[7] Put side by side, the two figures show the new borrowing is worth 87.5% of everything the company held at the end of September. The company said it cut its quarterly cash consumption by 30% from the quarter before.[8] The management Silvio Napoli became chief executive in June.[9] These are the first quarterly results since he announced a restructuring plan.[10] Lucid's second plant, in Saudi Arabia, is in the final stages of commissioning.[11] The market The stock fell roughly 5% in aftermarket trading on Monday.[12]
Proof12 sources · 2 publishers · signed
What this stands on
  1. Lucid missed Wall Street third quarter earnings and revenue expectations. · cnbc.comUnited States
  2. Lucid reported third quarter loss per share of $2.74. · cnbc.comUnited States
  3. Lucid Q3 2026 revenue was $350 million, up 4% year over year. · sec.govUnited Statesofficial source
  4. Lucid increased a loan from Saudi Arabia Public Investment Fund by $1.75 billion. · cnbc.comUnited States
  5. Lucid ended Q3 2026 with $2.0 billion total liquidity. · sec.govUnited Statesofficial source
  6. Lucid total liquidity increased to $3.75 billion after the loan addition. · cnbc.comUnited States
  7. Lucid liquidity increased by $1.75 billion via PIF support. · sec.govUnited Statesofficial source
  8. Lucid cut quarterly cash consumption 30% sequentially in Q3 2026. · sec.govUnited Statesofficial source
  9. Silvio Napoli became Lucid CEO in June. · cnbc.comUnited States
  10. These are the first quarterly results since Silvio Napoli announced a restructuring plan. · cnbc.comUnited States
  11. Lucid AMP-2 Saudi Arabia plant is in final commissioning stages. · sec.govUnited Statesofficial source
  12. Lucid stock fell roughly 5% in aftermarket trading Monday. · cnbc.comUnited States
All of them publish from United States. 1 is an official body, so this traces to the document itself.
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