| Metric | Pre | Post | Signal |
|---|---|---|---|
| FY25 Rev | $1.01B | $1.055B | 📈 Bullish |
| Margin | 58% | 58% | ⚖️ Neutral |
What is holding the stock back after earnings mainly rests on the following:
| Takeaway | Sentiment |
|---|---|
| Strong topline beat and profitability | Bullish |
| Margin flat despite loan growth | Neutral |
| Funding concentration risk lingers | Bearish |
| Stock sell-off shows expectations were high | Bearish |
| Metric | Q2 2025 | Q2 2024 | YoY Change |
|---|---|---|---|
| Deliveries | 3,309 | 2,393 | +38.2% |
| Revenue | $259.4M | $200.6M | +29.3% |
| FCF | –$1.01B | –$741M | –36% |
Production guide lowered
Announced 20k vehicle Uber robotaxi deal
Lucid Air gains Tesla Supercharger access
“We had our sixth consecutive quarter of record deliveries…”
— Marc Winterhoff, Interim CEO
What it means: Delivery growth is real, but production scale and cash usage are in focus.
| Metric | Company Guide | Prior | Signal |
|---|---|---|---|
| FY25 Production | 18k–20k units | 20k | 📉 Lowered |
| FY25 Revenue | ~$1.3B | $1.33B est. | ⚖️ Flat |
| Metric | Consensus | Actual | Result |
|---|---|---|---|
| Revenue | $264.74M | $259.4M | ❌ Miss |
| EPS | –$0.22 | –$0.24 (Non-GAAP) | ❌ Miss |
After-hours price move: LCID is trading down 7.85%
Guidance vs. Consensus: FY25 production guide was Lowered to 18,000–20,000 units (from 20,000).
Analyst take: Investors are reacting negatively to the top-line miss and lowered output guidance. While delivery momentum and strategic partnerships are promising, cash burn and missed targets are overshadowing the long-term story in the short run.
“We’re having a big, big push on software. I personally taken a leading role in driving software. … We’re going to introduce a hands-free lane assist before the year is out. There is a new vigor in the company.”
Peter Rawlinson, CEO & CTO
Lucid has repeatedly highlighted software updates as a key driver of margin and customer loyalty. With hands-free ADAS coming “before the year is out,” tonight’s results will be a test of whether ongoing software releases are translating into improved revenue per vehicle and strengthening the brand ahead of Gravity volume ramps.
Lucid’s beats have been consistent, but stock reactions have been volatile—spiking on Q2 and Q1 beats, then pulling back if guidance or cash-burn commentary disappointed.
| Quarter | EPS Surprise | 1-Day Move | 7-Day Move | 14-Day Move |
|---|---|---|---|---|
| Q2 FY 2024 | +4.12 % | +3.00 % | +4.33 % | +40.00 % |
| Q3 FY 2024 | +0.96 % | –0.45 % | –3.60 % | –2.25 % |
| Q4 FY 2024 | +10.72 % | –13.60 % | –19.92 % | –17.24 % |
| Q1 FY 2025 | +2.55 % | –3.43 % | +15.45 % | +13.30 % |
Live coverage has ended. The full story is below.
Lucid (Nasdaq: LCID | LCID Price Prediction) reports Q2 FY 2025 results after the market close, After a Q4 beat—where revenue of $234.5 million topped the $211.8 million consensus by 10.7 %—investors will assess whether production scale-up (9,000 vehicles guided for 2025) and Gravity-related vertical-integration gains can sustain top-line and margin momentum. With cash-burn and inventory financing front and center, the Q2 guide will set the tone for Lucid’s path to positive EBITDA.
We’ll be updating this live blog with news and analysis right after Lucid’s earnings hit the newswires. To receive updates, all you have to do is leave this page open, and updates will post automatically.
Consensus (Yahoo Finance)
Revenue: $264.74 million
EPS (Normalized): –$0.22
Full-Year FY 2025
FY 2025 Revenue: $1.33 billion
FY 2025 EPS: –$0.89
These imply ~68 % Y/Y top-line growth on FY 2024’s $0.79 billion, and a modest EPS loss narrowing vs. –$1.13 in FY 2024.
Production & Deliveries
Management reaffirmed 9,000 units of production in 2025; investors will look for Q2 build vs. delivery cadence and any guidance on factory ramp schedule LCID
Gross-Margin Trajectory
Q3 gross margin would have expanded ~11 pp ex-warranty; commentary on BOM costs, Gravity-related depreciation, and LCNRV provisions will be scrutinized LCID
Gravity & Model Line-Up
Updates on Lucid Gravity pre-orders and customer-acceptance milestones will signal durability of the premium EV thesis and help frame the upper-end ASP outlook.
Inventory & Cash Burn
With inventory financing critical to cash-flow, investors will parse inventory turns and cash-burn guidance—particularly any shift vs. the $600 million net burn in FY 2024.
CapEx & Financing Plans
Commentary on capital-raise timing, warehouse-inventory funding, or repeat shelf registrations will be read as a gauge of runway into second-half 2025 profitability.
Contact [email protected] for any questions or corrections.
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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