Companies /Consumer Cyclical

Lucid Group Inc

NASDAQ: LCID Auto Manufacturers
$4.28
▲ $0.24 (+5.94%) today
Markets closed · 1:45am ET

Q1 2025 Earnings

Reported May 6, 2025, 4:08pm ET · SEC source
$-0.20
Beat +14.13%
EPS · est. $-0.23
$235.0M
Miss −4.52%
Revenue · est. $246.2M
−7.8%
Trailing market
LCID vs S&P since report
5 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−3%0+3%May 6May 7report 4:08pm ETearnings+0.4%−4.7%
−3%0+3%May 6May 7earnings+0.4%−4.7%
LCID −4.7%S&P 500 +0.4%
−3%0+3%May 6May 7report 4:08pm ETearnings+0.4%−4.7%
−3%0+3%May 6May 7earnings+0.4%−4.7%
LCID −4.7%NASDAQ +0.4%
0+7%+14%May 5May 14report 4:08pm ETearnings+5.2%+17.5%
0+7%+14%May 5May 14earnings+5.2%+17.5%
LCID +17.5%S&P 500 +5.2%
0+7%+14%May 5May 14report 4:08pm ETearnings+7.7%+17.5%
0+7%+14%May 5May 14earnings+7.7%+17.5%
LCID +17.5%NASDAQ +7.7%
−3.43%
Day of report
+2.67%
Next session
+22.67%
One week
−0.89%
30 days

S&P 500 over the same 30 days: +6.87%.

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 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 <a href="https://247wallst.com/investing/2026/02/25/lucid-posts-its-best-delivery-quarter-yet-but-a-3-62-loss-per-share-spooks-investors/">early-stage economics</a> 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

“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.”

Lucid CEO, on the earnings call

Forward Guidance & Outlook

Lucid expects to manufacture approximately 20,000 vehicles in 2025. The company emphasized its focus on driving volume, improving margins, and operating with rigor while positioning for long-term value creation through strategic priorities, strong liquidity, and breakthrough products including the Lucid Gravity SUV and future midsize vehicle program.

LCID YoY Financials

Revenue$235.0M
Operating Income$-691,933,000
Net Income$-366,171,000

Figures from SEC filings and company reports. Not investment advice.