Filing Flows › Lucid Group (LCID) › Q4 2025
Lucid Group (LCID) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Lucid Group (LCID) reported revenue of $523M for the fourth quarter 2025 (Q4 2025), +123% from a year earlier and +55% from the quarter before. Operating margin was -203.7%, net loss $814M (155.7% of revenue).
Lucid Group, Q4 2025: revenue $523M (+123% year over year), operating margin -203.7%, net loss $814M, operating cash flow −$916M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $523M | +55% | +123% |
| Operating profit | −$1.1B | — | — |
| Net earnings | −$814M | — | — |
| Operating cash flow | −$916M | — | — |
What changed
Revenue was $522.7M in Q4 2025, up 123% year over year and up 55% from the previous quarter.
Operating costs exceeded revenue by $1,064.8M, an operating margin of -203.7%. Total costs grew 64% against revenue growth of 123%. The fastest-growing cost line was Cost of revenue (+113%). The quarter ended with a net loss of $814.0M, narrower than the previous quarter's $978.4M loss. Non-operating items added $252.5M, -31% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$916.4M. Non-cash charges added back $122.1M of depreciation and amortization and $72.4M of share-based compensation. Working capital and other items used $296.9M. Capital expenditures of $325.4M exceeded it, leaving free cash flow of −$1,241.8M.
Questions
What was Lucid Group's revenue in the fourth quarter 2025?
Lucid Group (LCID) reported revenue of $523M for the fourth quarter 2025 (Q4 2025), +123% from a year earlier and +55% from the quarter before.
Was Lucid Group profitable in the fourth quarter 2025?
Operating loss was $1.1B (-203.7% of revenue) and net loss $814M.
Source: Lucid Group 10-K on SEC EDGAR.