Lucid Group Inc (NASDAQ: LCID) reported its second-quarter financial results after the market close on Tuesday, and the numbers didn't quite hit the mark. Here's the rundown.

The EV maker posted revenue of $405.35 million, missing analyst estimates of roughly $428 million, according to market data. That said, revenue was still up 56% year-over-year, so it's not all doom and gloom.

On the earnings side, Lucid reported an adjusted loss of $2.78 per share for the quarter, which was wider than the expected loss of $2.49 per share. Ouch.

CEO Silvio Napoli didn't sugarcoat things. "Lucid has leading technology, compelling products and deeply committed people, but potential is not performance," he said. He added, "We are going back to basics, with a clear focus on cash, customers and culture. We are focused on delivering on our four must-win priorities, including our $1.4 billion cash flow improvement plan and the advancement of our Robotaxi, AMP-2, and Midsize programs, which will establish a strong foundation for Lucid's next chapter."

On the production front, Lucid produced 4,774 vehicles in the second quarter and delivered 3,953. The company also noted that its robotaxi program began deliveries of Lucid Gravity Production-Validation vehicles during the quarter, with testing underway across the San Francisco Bay Area and Houston.

Lucid ended the quarter with about $3 billion in total liquidity. The company said recently secured financing, combined with operational actions it's taking, should provide enough runway "well into 2027."

Executives were set to discuss the quarter further on an earnings call starting at 5:30 p.m. ET.

Shares didn't take the news well. Lucid stock was down 6.43% in after-hours trading on Tuesday, sitting at $7.28 at the time of publication.