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LCID

Lucid Group, Inc.

LCID

Lucid Group, Inc. • NASDAQ
$13.63 ▲ 1.87% (+0.25)
Market Cap $4.11 B
52w High $36.40
52w Low $11.46
Dividend Yield 0%
P/E -1.3
Volume 2.29M
Outstanding Shares 301.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $336.58M ▲ $608.402M ▲ $-978.428M ▼ -290.697% ▼ $-3.31 ▼ $-847.872M ▼
Q2-2025 $259.432M ▲ $530.696M ▲ $-539.432M ▼ -207.928% ▼ $-2.42 ▼ $-406.964M ▼
Q1-2025 $235.048M ▲ $463.421M ▼ $-366.171M ▲ -155.786% ▲ $-2.4 ▼ $-257.692M ▲
Q4-2024 $234.473M ▲ $524.175M ▼ $-397.218M ▲ -169.409% ▲ $-2.24 ▲ $-295.515M ▲
Q3-2024 $200.038M $558.032M $-992.475M -496.143% $-4.1 $-914.037M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.337B ▼ $8.823B ▼ $5.102B ▼ $3.721B ▲
Q2-2025 $2.826B ▼ $8.869B ▼ $6.461B ▲ $2.408B ▼
Q1-2025 $3.611B ▼ $9.218B ▼ $6.034B ▲ $3.184B ▼
Q4-2024 $4.031B ▲ $9.648B ▲ $5.775B ▼ $3.873B ▲
Q3-2024 $3.472B $8.489B $5.805B $2.684B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-978.428M ▼ $-756.816M ▲ $255.118M ▼ $376.218M ▲ $-81.612M ▼ $-955.634M ▲
Q2-2025 $-539.432M ▼ $-847.658M ▼ $694.003M ▲ $96.362M ▲ $-74.16M ▼ $-1.03B ▼
Q1-2025 $-366.171M ▲ $-428.613M ▲ $614.021M ▲ $62.731M ▼ $248.139M ▲ $-589.854M ▲
Q4-2024 $-397.218M ▲ $-533.147M ▼ $-1.584B ▼ $1.831B ▲ $-286.611M ▼ $-824.782M ▼
Q3-2024 $-992.475M $-462.795M $283.719M $719.144M $540.068M $-622.489M

Five-Year Company Overview

Income Statement

Income Statement Lucid’s income statement still looks like that of an early-stage manufacturer rather than a mature automaker. Revenue has inched up but remains relatively small compared with the size of its operating base. The company is still losing money on each car it sells, with production and sales costs exceeding vehicle revenue, though there are modest signs that losses per dollar of sales are starting to narrow. Operating and net losses remain very large and fairly consistent year to year, reflecting heavy spending on engineering, manufacturing, and overhead while volumes are still low. In simple terms: sales are growing slowly, but the business is far from break-even and remains deeply unprofitable.

Balance Sheet

Balance Sheet The balance sheet shows a company with sizeable assets and ongoing support from equity investors, but also clear pressure points. Lucid still holds a meaningful cash balance, yet far below the peak levels it had shortly after going public. Debt has grown from zero to a meaningful level, adding financial obligations on top of the operating burn, though equity is still positive. Overall, the company has a solid asset base and backing, but its cushion is not unlimited, and the trend is toward gradually using up cash and equity as losses accumulate.

Cash Flow

Cash Flow Cash flow paints a picture of a capital-hungry business that is steadily burning cash to build out its factories, supply chain, and technology. Operating cash flow has been negative every year, meaning the core business consumes cash rather than generates it. Free cash flow is even more negative because Lucid continues to invest heavily in plants and equipment. There are signs of slight improvement in how fast cash is being burned, but the company still relies on outside funding to sustain operations and growth plans. The key question over time will be whether production scale-up and new models can move cash flows closer to self-sustaining levels before the current resources run low.

Competitive Edge

Competitive Edge Competitively, Lucid is positioned as a high-end, technology-focused EV maker rather than a mass-market brand. Its strengths include very efficient powertrains, long range, fast charging, and a distinct luxury experience that differentiate it from many rivals. Vertical integration and in-house engineering give it control over core components and a reputation for technical excellence. Backing from Saudi Arabia’s sovereign wealth fund provides strategic and financial support, including in international markets. On the other hand, Lucid is small compared with global automakers, has limited brand awareness with mainstream buyers, and faces intense competition from established luxury brands and Tesla. Its competitive edge is strong on technology and brand positioning, but still unproven at large scale and across multiple vehicle lines.

Innovation and R&D

Innovation and R&D Innovation is one of Lucid’s clearest strengths. The company has designed its own motors, batteries, and compact drive units, allowing for a spacious interior and strong performance within a relatively sleek footprint. Its integrated charging system and focus on energy efficiency have produced standout range and fast-charging capabilities, which are key selling points for EV buyers. Software and over-the-air updates are central to the product, helping vehicles improve over time. The upcoming Gravity SUV, a planned mid-size platform, and continued work on advanced driver assistance and potential autonomous features show a deep product and technology pipeline. Partnerships, such as supplying powertrains to other automakers, could also validate and monetize its engineering capabilities beyond its own cars.

Summary

Lucid today looks like a technology-rich, early-scale luxury EV manufacturer that is still in the heavy investment phase. Financially, it has modest revenue, very large ongoing losses, and significant cash burn, supported by a still-solid but gradually drawn-down capital base. Strategically, it has carved out a premium position anchored in high efficiency, long range, and distinctive design, backed by strong engineering talent and major strategic investors. The company’s future depends on its ability to ramp production efficiently, broaden its lineup (especially with Gravity and future mid-size vehicles), leverage its technology in partnerships, and move its cost structure closer to profitability before financial flexibility tightens further.

NEWS

November 20, 2025 · 1:30 PM UTC

Lucid Gravity Touring: The Luxury Electric SUV Designed Without Compromise, Now Starting at $79,900

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November 17, 2025 · 4:05 PM UTC

Lucid Group, Inc. Announces Closing of Private Offering of $975.0 Million of Convertible Senior Notes Due 2031

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November 12, 2025 · 4:51 AM UTC

Lucid Group, Inc. Prices $875,000,000 Convertible Senior Notes Offering

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November 11, 2025 · 4:15 PM UTC

Lucid Group, Inc. Announces Proposed Convertible Senior Notes Offering

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November 5, 2025 · 4:06 PM UTC

Lucid Announces Organizational Changes to Accelerate Growth, Optimize Decision-Making and Strengthen Global Expansion

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