Companies /Consumer Cyclical

Lucid Group Inc

NASDAQ: LCID Auto Manufacturers
$4.28
▲ $0.24 (+5.94%) today
Markets closed · 4:03am ET

Q3 2025 Earnings

Reported Nov 5, 2025, 4:10pm ET · SEC source
$-2.65
Miss −19.37%
EPS · est. $-2.22
$336.6M
Miss −9.19%
Revenue · est. $370.6M
−26.9%
Trailing market
LCID vs S&P since report
5 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+3%+6%Nov 5Nov 6report 4:10pm ETearnings−0.8%+6.6%
0+3%+6%Nov 5Nov 6earnings−0.8%+6.6%
LCID +6.6%S&P 500 −0.8%
0+3%+6%Nov 5Nov 6report 4:10pm ETearnings−1.5%+6.6%
0+3%+6%Nov 5Nov 6earnings−1.5%+6.6%
LCID +6.6%NASDAQ −1.5%
−10%−5%0+5%Nov 4Nov 13report 4:10pm ETearnings−0.8%−8.4%
−10%−5%0+5%Nov 4Nov 13earnings−0.8%−8.4%
LCID −8.4%S&P 500 −0.8%
−10%−5%0+5%Nov 4Nov 13report 4:10pm ETearnings−2.4%−8.4%
−10%−5%0+5%Nov 4Nov 13earnings−2.4%−8.4%
LCID −8.4%NASDAQ −2.4%
+5.38%
Day of report
+4.18%
Next session
−3.77%
One week
−25.99%
30 days

S&P 500 over the same 30 days: +0.89%.

Did LCID Beat Earnings? Q3 2025 Results

Lucid Group delivered another quarter of steep misses in Q3 2025, as the electric vehicle startup's rapid production ramp failed to translate into the financial results Wall Street was expecting. The company posted an adjusted loss of $2.65 per diluted share, falling short of the $2.22 consensus estimate by 19.37%, while revenue of $336.58 million missed the $370.64 million consensus by 9.19% — even as that top line surged 68.3% year-over-year on the back of 4,078 vehicle deliveries. The core problem remains a deeply inverted cost structure: cost of revenue of $670.20 million more than doubled actual sales, pushing the operating loss to $942.02 million and leaving investors weighing whether volume growth can ever outrun the cash burn. Free cash flow came in at negative $955.47 million for the quarter, a figure that underscores why <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/">the losses continue to unnerve investors</a>. On the liquidity front, the Public Investment Fund agreed to expand Lucid's term loan facility to approximately $2.00 billion, lifting pro forma liquidity to roughly $5.50 billion — a lifeline as the company presses ahead toward a planned 2026 robotaxi rollout with Uber and Nuro.

Key Takeaways
  • Vehicle production up 116% YoY to 3,891 units in Q3, with 1,000+ additional vehicles built for Saudi Arabia final assembly
  • Vehicle deliveries up 47% YoY to 4,078 units in Q3
  • Revenue up 68% YoY driven by higher delivery volumes

“We maintained strong operational momentum this quarter, delivering solid results in both production and customer deliveries. Our team remains intensely focused on ramping up production and addressing the significant supply chain disruptions impacting the entire industry. At the same time, we continue to advance our position in autonomy and intelligent mobility, from our robotaxi partnership to our new collaboration with NVIDIA, positioning Lucid to be among the first to bring Level 4 autonomous driving to privately owned passenger vehicles. And as we work toward key milestones in the coming quarters, today's organizational changes will accelerate innovation, empower decisive action, and ensure Lucid is best positioned for global expansion.”

Lucid CEO, on the earnings call

Forward Guidance & Outlook

Lucid is committed to maintaining a healthy liquidity position and will continue to evaluate all financing and liquidity options, including in the public markets, when appropriate conditions materialize. The company is focused on ramping up production, addressing supply chain disruptions, and advancing its autonomy and intelligent mobility initiatives. Key near-term milestones include the initial San Francisco robotaxi rollout planned for 2026 in partnership with Uber and Nuro, and the continued development of Level 4 autonomous driving with NVIDIA. Organizational changes were announced to accelerate innovation, empower decisive action, and position the company for global expansion.

LCID YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$-1,000,000,000$-500,000,000$0$200.0M$336.6MRevenue$-1,211,600,000$-942,019,000Operating Income$-964,728,850$-978,428,000Net Income
$-1,000,000,000$-500,000,000$0RevenueOperating IncomeNet Income

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