Lucid Group's Q1 loss wider than expected, but revenues increased 36% year-over-year

From Nasdaq: 2025-05-07 06:51:00

Lucid Group (LCID) reported a first-quarter 2025 loss of 24 cents per share, wider than expected but an improvement from the year-ago period. Revenues of $235.05 million fell slightly short of estimates but increased by 36% year-over-year due to stronger vehicle deliveries.

In Q1, Lucid produced 2,212 units and delivered 3,109 Lucid Air vehicles, up 58% from the previous year. The company reported a gross margin of negative 97% and a total operating expense of $463.4 million, with an adjusted EBITDA of negative $563.5 million.

Lucid ended the quarter with $1.85 billion in cash and cash equivalents, with plans to produce around 20,000 vehicles in 2025. In the auto space, Tesla (TSLA) reported lower earnings and revenues, while PACCAR Inc. (PCAR) and General Motors (GM) also saw declines in earnings and revenues.

Tesla had cash reserves of $37 billion, PACCAR had $8.1 billion in cash and marketable securities, and GM reported $20.57 billion in cash and cash equivalents. Each company is navigating challenges in the auto industry and adjusting future plans accordingly.



Read more at Nasdaq: Lucid Q1 Loss Wider Than Expected But Narrower Year Over Year