Lucid reported Q2 revenue of $405 million versus the $395.6 million analysts expected, per Bloomberg consensus, up 56% year over year. Lucid posted an adjusted loss per share of $2.78 versus $2.37, much wider than expected, with adjusted EBITDA coming in at a loss of $901.1 million, worse than the $681 million loss estimated. The company unveiled a three-pronged reset built around Cash and Cost, Customer and Quality, and Culture and Team to stabilize the business. Last month, Lucid sent a cease-and-desist letter over a report that it was preparing to file for bankruptcy, which had sent the stock spiraling. Last month, Lucid said it delivered 3,953 vehicles, up 19% from a year earlier, and produced 4,774, up 24%, but throttled back to reduce inventory and preserve cash.