New Range King? Lucid EV Wins Guinness World Record
Lucid, a California startup that produced its first EV in 2020, just proved that its sedan may take you farther (without recharging) than any other vehicle on the market. The company has officially earned a Guinness World Record for 'longest journey by an electric car on a single charge.'
This weekend, two drivers took the Grand Touring edition of the Lucid Air on a trip from Silvaplana, Switzerland, to Munich, Germany. Relying on only the fully charged electric vehicle, they traveled 748 miles. That's nearly 100 miles more than the previous record set a month ago by a Mercedes-Benz EQS 450+. And it's 178 miles more than the same record set by a Ford Mustang Mach-E SUV in August 2024.
Lucid's managers were quick to trumpet the victory as proof of 'the technological edge that defines Lucid,' Eric Bach, the brand's senior vice president of product and chief engineer, said in a release. It also builds on previous records.
Umit Sabanci, a U.K. entrepreneur who drove the vehicle this weekend along with Kenneth Schofield, also helmed the Lucid Air Grand Touring last year for another record: 'most countries visited on a single charge in a production battery electric vehicle.'
'When I completed the nine-country journey in 2024, it was just the beginning,' Sabanci said in a release. 'This new achievement takes that journey even further. I'm proud to be part of a movement that proves electric mobility isn't just the future: it's already redefining what's possible today.'
To be fair, the Lucid Air has been making headlines for several years. It's 'arguably the world's best EV,' GearJunkie contributor Michael Van Runkle wrote.
In April, Van Runkle got a chance to get behind the wheel of the 2026 Lucid Gravity, the brand's electric SUV. Moreover, Van Runkle was able to drive the Grand Touring edition: the same package used this weekend to earn Lucid's long-distance record with the Air.
Basically, the Grand Touring package offers dual motors rated for a combined 828 horsepower and 909 pound-feet of torque, with full-time all-wheel drive. A 123kWh battery pack manages industry-best efficiency, so the Gravity initially achieved a 450-mile EPA range estimate.
After a day of testing, Van Runkle praised the vehicle's handling, wealth of storage space, and seating for seven. He called it a 'rocketship that can outhandle most sports cars.'
'Sinuous highways and snaking canyons provided on-road impressions, followed by a semi-serious off-roading demonstration that left a big smile on my face,' Van Runkle wrote. 'Altogether, my day with Gravity once again proved beyond a reasonable doubt that Lucid employs some of the best minds in the business.'
Of course, Lucid made the Gravity model as an alternative to the Air, which packs in so much advanced technology that the price tag soars well into the six figures — and beyond what most Americans could afford. Even the Lucid Gravity's price tag still starts at $94,900, and also leaps into the six figures with the Grand Touring package.
According to Guinness World Records, the record is simply about 'showing what electric vehicles are capable of today — not just in theory, but in action.' And Lucid proved its cutting-edge vehicles have what it takes to transform transportation, along with the rest of the growing EV market.
Maybe one day in the future, a few of us non-millionaires will get to enjoy its benefits.
2024 Lucid Gravity: All-Electric SUV Follow-Up to the Air Sedan
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I look forward to continuing the disciplined financial stewardship that precedes me in this role, and with it, Kneat's continuous scaling of the value we deliver to the Life Sciences industry." - Dave O'Reilly, Chief Financial Officer of Kneat. Quarterly Conference Call Eddie Ryan, Chief Executive Officer of Kneat and Dave O' Reilly, Chief Financial Officer of Kneat, along with outgoing Chief Financial Officer, Hugh Kavanagh, will host a conference call to discuss Kneat's second-quarter results and hold a Q&A for analysts and investors via webcast on Wednesday, August 6, 2025, at 9:00 a.m. ET. Interested parties can register for the live webcast via the following link: Register Here. About Kneat Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard. For more information visit Supplementary and Non-IFRS Financial Measures The Company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and supplementary, non-IFRS financial measures as key performance indicators when planning, monitoring and evaluating the Company's performance. Annual Recurring Revenue ('ARR') Kneat management use ARR to evaluate and assess the Company's performance, identify trends affecting its business, formulate financial projections and make financial decisions. The Company believes that ARR is a useful metric for investors as it provides a measure of the value of the recurring revenue at a point in time (end date of the relevant quarter). ARR is based on signed agreements and indicates the level of recurring revenue that the Company would anticipate reporting in a 12-month period based on the full annual SaaS and maintenance fees for existing customers. In specific circumstances, the Company may utilize pricing incentives for limited contract periods. These incentives are not included in the calculation of ARR. ARR is used by Kneat to assess the expected recurring revenues from the customers that are live on the Kneat Gx platform at the end of the period. ARR is calculated using the licenses delivered to customers at the period end, multiplied by the expected customer retention rate of 100% and multiplied by the full agreed annual SaaS license or maintenance fee. Since many of the customer contracts are in currencies other than the Canadian dollar, the Canadian dollar equivalent is calculated using the related period end exchange rate multiplied by the contracted currency amount. Earnings before Interest, Taxes, Depreciation and Amortization ('EBITDA') EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ('Adjusted EBITDA') Adjusted EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization, foreign exchange gain and stock-based compensation expense. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of Adjusted EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Cautionary and Forward-Looking Statements Except for the statements of historical fact contained herein, certain information presented constitutes 'forward-looking information' within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat's business development activities, the use and implementation timelines of Kneat's software within the customer's validation processes, the ability and intent of the customer to scale the use of Kneat's software within the customer's organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat's platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements. Material risks and uncertainties relating to our business are described under the headings 'Cautionary Note Regarding Forward-Looking Statements and Information' and 'Risk Factors' in our MD&A dated August 5, 2025, under the heading 'Risk Factors' in our Annual Information Form dated February 26, 2025 and in our other public documents filed with Canadian securities regulatory authorities, which are available at Forward-looking statements are provided to help readers understand management's expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kneat assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor's own risk. For further information: Katie Keita, Kneat Investor RelationsP: + 1-902-450-2660E: Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Loss Three-monthperiod ended June 30, 2025 Three-monthperiod ended June 30, 2024 Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 $ $ $ $ Revenue 15,405,109 11,675,734 30,152,750 22,442,735 Cost of revenue (3,777,809 ) (2,982,094 ) (7,600,954 ) (5,816,109 ) Gross profit 11,627,300 8,693,640 22,551,796 16,626,626 Expenses Research and development (5,702,497 ) (4,761,889 ) (10,401,162 ) (8,807,437 ) Sales and marketing (6,129,942 ) (4,368,485 ) (11,246,419 ) (8,400,169 ) General and administrative (3,792,405 ) (2,194,999 ) (6,304,034 ) (4,300,588 ) Operating loss (3,997,544 ) (2,631,733 ) (5,399,819 ) (4,881,568 ) Finance expense (877,545 ) (870,905 ) (1,766,090 ) (1,738,356 ) Interest income 151,053 172,999 349,692 208,075 Foreign exchange gain 4,429,193 258,049 8,691,793 19,286 (Loss) income before income taxes (294,843 ) (3,071,590 ) 1,875,576 (6,392,563 ) Income tax expense (84,299 ) (28,553 ) (108,729 ) (44,440 ) Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Other comprehensive loss Foreign currency translation adjustment to presentation currency (1,833,771 ) (234,170 ) (3,832,292 ) (43,276 ) Comprehensive loss for the period (2,212,913 ) (3,334,313 ) (2,065,445 ) (6,480,279 ) (Loss)/Earnings per share - Basic and diluted (0.00 ) (0.04 ) 0.02 (0.08 ) Weighted-average number of common shares outstanding: Basic 94,728,598 85,581,420 94,469,559 83,293,224 Diluted 94,728,598 85,581,420 97,985,267 83,293,224 Reconciliation: Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Finance expense 877,545 870,905 1,766,090 1,738,356 Interest income (151,053 ) (172,999 ) (349,692 ) (208,075 ) Income tax expense 84,299 28,553 108,729 44,440 Depreciation charge 181,718 190,394 358,719 381,615 Amortization of intangible assets charge 3,155,635 2,688,851 6,002,381 4,523,062 EBITDA 3,769,002 505,561 9,653,074 42,395 Adjustments to EBITDA Foreign exchange gain (4,429,193 ) (258,049 ) (8,691,793 ) (19,286 ) Stock based compensation 1,090,175 1,338,990 1,787,193 2,151,163 Adjusted EBITDA 429,984 1,586,502 2,748,474 2,174,272 Condensed Interim Consolidated Statements of Financial Position June 30,2025 December 31, 2024 $ $ Assets Current assets Cash 66,771,997 58,889,572 Amounts receivable 11,176,423 18,377,009 Prepayments 1,861,908 1,870,095 79,810,328 79,136,676 Non-current assets Amounts receivable 4,798,361 2,368,006 Property and equipment 8,057,345 6,782,179 Intangible asset 41,999,419 36,290,869 Total Assets 134,665,453 124,577,730 Liabilities Current liabilities Accounts payable and accrued liabilities 11,071,328 8,580,104 Contract liabilities 26,550,906 21,631,416 Loan payable 6,012,075 4,116,723 Lease liabilities 401,739 434,096 44,036,048 34,762,339 Non-current liabilities Contract liabilities 3,063 33,393 Loan payable and accrued interest 17,338,181 19,038,203 Lease liabilities 6,911,364 5,671,952 Total Liabilities 68,288,656 59,505,887 Equity Shareholders' equity 66,376,797 65,071,843 Total Liabilities and Equity 134,665,453 124,577, Condensed Interim Consolidated Statement of Cash Flows Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 Operating activities $ $ Net income (loss) for the period 1,766,847 (6,437,003 ) Charges to income (loss) not involving cash: Depreciation of property and equipment 358,719 381,615 Share-based compensation 1,787,193 2,151,163 Interest expense 1,672,870 1,738,356 Tax expense 108,729 44,440 Amortization of the intangible asset 6,002,381 4,523,062 Amortization of loan issuance costs 93,220 76,194 Foreign exchange gain (8,691,793 ) (19,286 ) (Decrease)/increase in non-current contract liabilities (31,359 ) 38,241 Net change in non-cash operating working capital related to operations 12,481,190 7,533,596 Net cash provided by operating activities 15,547,997 10,030,378 Financing activities Proceeds received from public equity financing - 20,000,110 Share issuance costs associated with public equity financing - (1,626,257 ) Payment of principal and interest on loans payable (3,154,648 ) (1,232,889 ) Proceeds from the exercise of stock options 989,061 1,051,787 Repayment of lease liabilities (394,650 ) (364,423 ) Net cash (used in)/provided by financing activities (2,560,237 ) 17,828,328 Investing activities Additions to the intangible asset (10,599,886 ) (9,675,371 ) Additions to property and equipment (96,462 ) (50,397 ) Collection of research and development tax credits 1,887,789 2,336,619 Net cash used in investing activities (8,808,559 ) (7,389,149 ) Effects of exchange rates on cash 3,703,224 170,762 Net change in cash during the period 7,882,425 20,640,319 Cash – Beginning of period 58,889,572 15,252,526 Cash – End of period 66,771,997 35,892,845 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Average Daily Trading Volume (ADV) by Month Year-To-Date Jul 2025 Jul 2024 % Chg Jun 2025 % Chg Jul 2025 Jul 2024 % Chg Multiply-listed options (contracts, k) 12,215 11,145 9.6 % 11,836 3.2 % 12,886 10,642 21.1 % Index options (contracts, k) 4,469 4,140 8.0 % 4,639 -3.7 % 4,688 4,065 15.3 % Futures (contracts, k)1 178 267 -33.3 % 185 -3.8 % 226 242 -6.3 % U.S. Equities - On-Exchange (matched shares, mn) 1,790 1,280 39.9 % 1,780 0.6 % 1,785 1,404 27.2 % U.S. Equities - Off-Exchange (matched shares, mn) 141 76 84.8 % 123 14.4 % 113 78 45.2 % Canadian Equities (matched shares, k) 150,096 122,608 22.4 % 146,058 2.8 % 154,298 144,633 6.7 % European Equities (€, mn) 12,490 9,229 35.3 % 11,811 5.7 % 13,560 9,665 40.3 % Cboe Clear Europe Cleared Trades (k) 122,973 105,831 16.2 % 110,623 11.2 % 935,981 699,176 33.9 % Cboe Clear Europe Net Settlements (k) 1,236 1,022 20.9 % 1,090 13.4 % 7,726 6,311 22.4 % Australian Equities (AUD, mn) 870 771 12.8 % 951 -8.5 % 884 764 15.7 % Global FX ($, mn) 48,514 45,586 6.4 % 51,222 -5.3 % 53,135 46,340 14.7 % 1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. 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Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit Cboe Media ContactsCboe Analyst Contact Angela Tu Tim CaveKenneth Hill, CFA +1-917-985-1496 +44 (0) 7593-506-719+1-312-786-7559 atu@ tcave@ CBOE-V Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners. Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners. Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein. Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation. Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release. There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. View original content to download multimedia: SOURCE Cboe Global Markets, Inc.
