Q1 25 EPS
$-0.20
BEAT +14.13%
Est. $-0.23
Q1 25 Revenue
$235.0M
MISS 4.52%
Est. $246.2M
vs S&P Since Q1 25
-104.8%
TRAILING MARKET
LCID -74.9% vs S&P +29.9%
Market Reaction
Did LCID Beat Earnings? Q1 2025 Results
Lucid Group closed out the first quarter of 2025 with clear signs of commercial progress, posting revenue of $235.05 million and a non-GAAP loss of $0.20 per share as record deliveries of 3,109 vehicles, up 58.1% year-over-year, signaled that the com… Read more Lucid Group closed out the first quarter of 2025 with clear signs of commercial progress, posting revenue of $235.05 million and a non-GAAP loss of $0.20 per share as record deliveries of 3,109 vehicles, up 58.1% year-over-year, signaled that the company's production ramp is beginning to take hold. The arrival of the Lucid Gravity SUV was the single most material driver behind the volume surge, with the electric SUV beginning to reach customers and meaningfully lifting the top line from $172.74 million in Q1 2024. Still, the path to profitability remains steep: cost of revenue of $463.56 million far exceeded total sales, and the operating loss stood at $691.93 million, underscoring the early-stage economics weighing on the business. Adjusted EBITDA improved modestly to negative $563.49 million from negative $598.39 million a year ago. Backed by approximately $5.76 billion in total liquidity, Lucid reaffirmed its 2025 production target of roughly 20,000 vehicles, with management pointing to the Gravity's expanding availability and a future midsize vehicle program as longer-term growth catalysts.
Key Takeaways
- • Record quarterly deliveries of 3,109 vehicles, up 58.1% year-over-year
- • Lucid Gravity SUV beginning to reach customer driveways and studios
- • Revenue growth driven by higher vehicle delivery volumes
- • Favorable change in fair value of derivative liabilities of $281.7 million
LCID YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities. Lucid Gravity is beginning to arrive in more customers' driveways and at our studios, and combined with our progress toward future initiatives, our company is well positioned for future success.”
— Marc Winterhoff, Q1 2025 Earnings Press Release
LCID Earnings Trends
LCID vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LCID EPS Trend
Earnings per share: estimate vs actual
LCID Revenue Trend
Quarterly revenue: estimate vs actual
LCID Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | $-2.30 | — | — | — | — |
| Q4 25 MISS FY | $-2.67 | $-3.08 | -15.18% | $522.7M | +13.75% |
| FY Full Year | — | $-10.09 | — | $1.35B | — |
| Q3 25 MISS | $-2.22 | $-2.65 | -19.37% | $336.6M | -9.19% |
| Q2 25 MISS | $-0.22 | $-0.24 | -11.11% | $259.4M | -2.00% |
| Q1 25 BEAT | $-0.23 | $-0.20 | +14.13% | $235.0M | -4.52% |
| Q4 24 BEAT FY | $-0.29 | $-0.22 | +22.81% | $234.5M | +10.72% |
| FY Full Year | — | $-1.04 | — | $807.8M | — |