"Lucid Group (NASDAQ: LCID) missed revenue and earnings expectations in Q3 2025, posting a $1.03 billion net loss on $336.6 million in revenue. The stock traded near $17.27 after the release, down sharply from its 52-week high of $36.40. What kept investors from panicking entirely was news that the company secured an increase in its Saudi Arabia-backed credit facility from $750 million to approximately $2 billion, raising potential liquidity to $5.5 billion."
"Vehicle production jumped 116% year over year to 3,891 units, while deliveries rose 47% to 4,078 vehicles. These are the numbers management wanted investors to see. But production volume doesn't translate to profit when you're selling vehicles at a loss. Q2 gross margin was negative 105%, meaning the company lost more than a dollar for every dollar of revenue. Q3 gross profit came in at negative $942 million, a signal that the company is still underwater on unit economics."
Lucid posted a $1.03 billion net loss in Q3 2025 on $336.6 million revenue, and its stock traded near $17.27, well below a 52-week high of $36.40. The company secured an increase in a Saudi Arabia-backed credit facility from $750 million to about $2 billion, raising potential liquidity to $5.5 billion. Vehicle production rose 116% year over year to 3,891 units and deliveries increased 47% to 4,078. Unit economics remain poor, with Q2 gross margin at negative 105% and Q3 gross profit at negative $942 million. Operating cash flow was negative $756.7 million, free cash flow negative $955.5 million, and cash on hand totaled $1.67 billion, leaving a finite runway absent meaningful improvement in margins or revenue.
Read at 24/7 Wall St.
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