Lucid Posts Strong Deliveries In Q1, But Losses Still Remain

Lucid Group, Inc. (LCID) has announced its Q1 2025 financial results, revealing a 58.1% increase in vehicle deliveries compared to Q1 2024 with 3,109 units delivered during the quarter.

Lucid’s Q1 2025 Results

Lucid produced 2,212 vehicles in Q1, excluding over 600 units in transit to Saudi Arabia for factory gating. The company generated $235 million in revenue in Q1, according to its first quarter earnings report. Lucid also expects to produce around 20,000 vehicles in 2025, a significant jump from the 9,029 units that were produced in 2024. 

Lucid’s $5.76 billion liquidity offers a buffer, yet the company still faces losses, with a GAAP net loss per share of $0.24 and a non-GAAP net loss per share of $0.20 in the first quarter, per Lucid’s Q1 earnings report. Simply put, Lucid has cash, but profitability—particularly since the company is still currently focused on selling luxury vehicles like the Lucid Air and the Lucid Gravity—remains a challenge.

Lucid Executives’ Comments

Marc Winterhoff, Interim CEO at Lucid, remained optimistic about the automaker’s future.

“We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities. Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well-positioned for future success,” he said.

Taoufiq Boussaid, CFO at Lucid, also stated that the company is executing against its near-term goals.

“We’re executing against our near-term goals — driving volume, improving margins, and operating with rigor. And we’re positioning ourselves for long-term value creation — with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories,” the CFO said.

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