Lucid Group has kicked off 2025 with solid momentum, reporting notable growth in deliveries and maintaining a strong financial foundation in its Q1 results.
The electric vehicle maker delivered 3,109 vehicles in the first quarter—up 58.1% from the same period last year—and generated $235 million in revenue.
While it produced 2,212 vehicles during the quarter, the figure excludes over 600 units currently en route to Saudi Arabia for factory gating.
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The company ended the quarter with approximately $5.76 billion in liquidity, providing a strong cushion as it continues scaling operations and introducing new products like the Lucid Gravity SUV, which is now reaching customer driveways and showroom floors. Lucid reaffirmed its plan to manufacture about 20,000 vehicles in 2025.
Financially, the company posted a GAAP net loss per share of $(0.24) and a non-GAAP net loss per share of $(0.20).
Despite the losses, Lucid’s leadership remains optimistic. Interim CEO Marc Winterhoff emphasized that the company is gaining momentum by hitting delivery milestones and pushing forward on key initiatives.
CFO Taoufiq Boussaid noted Lucid is focused on volume growth, margin improvement, and long-term value creation backed by strategic priorities and product innovation.
Lucid will host its earnings call on May 6 at 5:30 PM ET, with a webcast and replay available on its investor relations site.
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