Lucid (LCID) Q4 2025 results

Lucid Collection It reported mixed fourth-quarter results on Tuesday as the all-electric vehicle maker continues to face challenging market conditions and internal issues.

The company broadly beat Wall Street’s quarterly earnings expectations, while beating the average revenue estimate by about 12%. It also revised its production results for 2025 due to internal verification issues, but directed a significant increase in vehicle production this year.

Here’s how the company performed in the fourth quarter compared to average estimates compiled by LSEG:

• Loss per share: $3.62 versus an expected loss of $2.62
• profit: $523 million versus an expected $468 million

Lucid’s results come days after the company laid off 12% of its U.S. salaried workforce in an effort to streamline operations, “operate more efficiently and deliver on our commitments to improving gross margin and long-term growth,” according to a statement from the company.

For 2026, the company has announced a vehicle production target of 25,000-27,000 units. This represents an increase of approximately 40% to 51% compared to the year-end numbers the company released on Tuesday.

Lucid said this year’s review – from 18,378 units to 17,840 units – came about because “538 vehicles did not complete certain internal procedures required under the final verification process to be classified as production.”

The vehicles are expected to be completed this year, the company said, with the change not impacting its previously announced financial results.

Lucid’s expected production growth will likely include adding a new, less expensive midsize vehicle to its existing lineup of Aero sedans and Gravity SUVs. It also plans to launch Lucid’s first robotaxi with previously announced partners.

“In 2026, our focus remains on operational and financial discipline, sustainable growth, and continued progress toward profitability, as we look forward to producing our first mid-sized vehicles and deploying Lucid’s first robotaxi in commercial service with our partners,” interim CEO Mark Winterhoff said in a statement.

Lucid said it ended last year with about $4.6 billion in total cash, which Lucid CFO Taoufik Boussaid described as “strong” and will provide flexibility “to execute on near-term goals while investing in future growth.”

Lucid reported a net loss of $2.7 billion in 2025, in line with a loss of $2.71 billion the previous year. This includes doubling its losses year-on-year during the fourth quarter to $814 million. It reported a loss of $12.09 per share for the year.

The company’s 2025 revenue rose 68% to $1.35 billion, including more than doubling year-over-year results during the fourth quarter.

Lucid executives have not yet said when the company expects to be profitable. An investor day is scheduled to be hosted on March 12 in New York.