Q2 25 EPS
$-0.24
MISS 11.11%
Est. $-0.22
Q2 25 Revenue
$259.4M
MISS 2.00%
Est. $264.7M
vs S&P Since Q2 25
-92.9%
TRAILING MARKET
LCID -76.9% vs S&P +16.0%
Market Reaction
Did LCID Beat Earnings? Q2 2025 Results
Lucid Group closed out Q2 2025 with a familiar combination of accelerating growth and deepening losses, missing Wall Street expectations on both the top and bottom lines. The electric vehicle maker reported revenue of $259.43 million, up 29.3% year-o… Read more Lucid Group closed out Q2 2025 with a familiar combination of accelerating growth and deepening losses, missing Wall Street expectations on both the top and bottom lines. The electric vehicle maker reported revenue of $259.43 million, up 29.3% year-over-year but falling short of the $264.74 million consensus estimate, while its non-GAAP adjusted loss per share of $-0.24 widened past the $-0.22 estimate by 11.11%. The primary weight on results was an operating loss of $803.05 million, as cost of revenue of $531.78 million continued to dwarf total sales, a persistent structural challenge as the company scales. A landmark robotaxi partnership with Uber and Nuro, calling for a minimum of 20,000 Lucid Gravity vehicles equipped with Level 4 autonomy, offered investors a compelling longer-term narrative even as near-term losses weighed on sentiment. Looking ahead, Lucid trimmed its 2025 production outlook to 18,000–20,000 vehicles from a prior target of 20,000, citing the ongoing Gravity SUV ramp as the central catalyst for the second half.
Key Takeaways
- • Sixth consecutive quarter of record deliveries (3,309 vehicles, up 38.2% YoY)
- • Produced 3,863 vehicles in Q2
- • Total liquidity of approximately $4.86 billion at quarter end
- • Gain on extinguishment of debt of $116.4 million
- • Favorable change in fair value of derivative liabilities of $111.5 million
LCID YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“We had our sixth consecutive quarter of record deliveries in Q2 and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year. In Q1, we mentioned our ongoing partnership discussions to develop new revenue streams for our EV technology and beyond. The robotaxi partnership we announced with Uber and Nuro is a perfect example aligned with that strategy. We also continued to double down on increasing our brand awareness, introducing Timothée Chalamet, an award-winning actor and cultural icon, as our first global brand ambassador.”
— Marc Winterhoff, Q2 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 | — |