Lucid Group, Inc. (LCID) Income Statement
LCID 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLCID revenue and net income
Where LCID's revenue goes
2025Each bar shows an amount and its share of revenue. LCID kept −199.3% of revenue as net income.
LCID profit margins
LCID growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +67.6% | +30.6% | +220.9% | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LCID quarterly EPS vs estimates
Lucid beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $-2.76).
LCID income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $807.8M | $595.3M | $608.2M | $27.1M | $4.0M | $4.6M |
| Cost of revenue | $2.61B | $1.73B | $1.94B | $1.65B | $154.9M | $3.1M | $3.9M |
| Gross profit | −$1.26B | −$923.1M | −$1.34B | −$1.04B | −$127.8M | $906,000 | $664,000 |
| Research & development | $1.21B | $1.18B | $937.0M | $821.5M | $750.2M | $511.1M | $220.2M |
| Sales, general & admin | $1.03B | $901.0M | $797.2M | $734.6M | $652.5M | $89.0M | $38.4M |
| Total operating expenses | $2.25B | $2.10B | $1.76B | $1.56B | $1.40B | $600.1M | $258.6M |
| Operating income | −$3.50B | −$3.02B | −$3.10B | −$2.59B | −$1.53B | −$599.2M | −$257.9M |
| Interest income | $156.4M | $213.0M | $175.1M | $56.8M | $0 | $0 | — |
| Interest expense | $95.1M | $32.9M | $24.9M | $30.6M | $1.4M | $64,000 | $8.5M |
| Income before taxes | −$2.70B | −$2.71B | −$2.83B | −$1.30B | −$2.58B | −$719.6M | −$277.3M |
| Income taxes | −$2.3M | $1.2M | $1.0M | $379,000 | $49,000 | −$188,000 | $23,000 |
| Net income | −$2.70B | −$2.71B | −$2.83B | −$1.30B | −$2.58B | −$719.4M | −$277.4M |
| EBITDA | −$2.15B | −$2.38B | −$2.57B | −$1.07B | −$2.50B | −$709.3M | −$264.9M |
| EPS (diluted) | −$10.79 | −$10.90 | −$14.20 | −$13.70 | −$45.65 | −$141.09 | −$16.07 |
| Gross margin | −92.8% | −114.3% | −225.2% | −170.7% | −471.3% | 22.8% | 14.5% |
| Operating margin | −258.7% | −373.9% | −520.7% | −426.5% | −5,645.1% | −15,071.1% | −5,619.5% |
| Net margin | −199.3% | −336.0% | −475.1% | −214.5% | −9,515.6% | −18,093.1% | −6,042.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $405.3M | $282.5M | $522.7M | $336.6M | $259.4M | $235.0M | $234.5M | $200.0M | $200.6M | $172.7M | $157.2M | $137.8M |
| Cost of revenue | $832.1M | $594.2M | $944.6M | $670.2M | $531.8M | $463.6M | $443.2M | $412.5M | $470.4M | $404.8M | $410.0M | $469.7M |
| Gross profit | −$426.7M | −$311.7M | −$421.9M | −$333.6M | −$272.4M | −$228.5M | −$208.8M | −$212.5M | −$269.8M | −$232.1M | −$252.9M | −$331.9M |
| Research & development | $321.3M | $335.7M | $361.0M | $325.3M | $273.8M | $251.2M | $280.3M | $324.4M | $287.2M | $284.6M | $243.0M | $230.8M |
| Sales, general & admin | $300.4M | $304.2M | $281.8M | $283.1M | $256.9M | $212.2M | $243.9M | $233.6M | $210.2M | $213.2M | $241.0M | $189.7M |
| Total operating expenses | $655.4M | $639.8M | $642.8M | $608.4M | $530.7M | $463.4M | $524.2M | $558.0M | $517.6M | $497.9M | $484.0M | $421.0M |
| Operating income | −$1.08B | −$951.6M | −$1.06B | −$942.0M | −$803.0M | −$691.9M | −$733.0M | −$770.5M | −$787.4M | −$729.9M | −$736.9M | −$752.9M |
| Interest income | $9.6M | $13.1M | $25.3M | $34.6M | $44.3M | $52.2M | $57.8M | $50.0M | $54.6M | $50.6M | $58.7M | $66.1M |
| Interest expense | $47.8M | $41.1M | $33.9M | $25.6M | $23.7M | $11.9M | $10.3M | $8.5M | $6.7M | $7.5M | $7.8M | $3.3M |
| Income before taxes | −$1.03B | −$1.03B | −$812.3M | −$978.8M | −$541.8M | −$367.5M | −$396.6M | −$992.0M | −$643.5M | −$680.7M | −$653.8M | −$630.6M |
| Income taxes | $1.1M | $177,000 | $1.8M | −$363,000 | −$2.4M | −$1.4M | $589,000 | $487,000 | −$65,000 | $188,000 | $14,000 | $296,000 |
| Net income | −$1.26B | −$1.03B | −$814.0M | −$978.4M | −$539.4M | −$366.2M | −$397.2M | −$992.5M | −$643.4M | −$680.9M | −$653.8M | −$630.9M |
| EBITDA | −$1.05B | −$870.7M | −$656.3M | −$833.1M | −$407.0M | −$257.7M | −$295.5M | −$914.0M | −$570.6M | −$604.3M | −$578.5M | −$566.4M |
| EPS (diluted) | −$3.30 | −$2.82 | −$3.08 | −$3.31 | −$2.40 | −$2.00 | −$2.20 | −$2.80 | −$2.90 | −$3.00 | −$3.00 | −$3.10 |
| Gross margin | −105.3% | −110.4% | −80.7% | −99.1% | −105.0% | −97.2% | −89.0% | −106.2% | −134.5% | −134.3% | −160.9% | −240.8% |
| Operating margin | −267.0% | −336.9% | −203.7% | −279.9% | −309.5% | −294.4% | −312.6% | −385.2% | −392.6% | −422.6% | −468.9% | −546.3% |
| Net margin | −310.7% | −364.1% | −155.7% | −290.7% | −207.9% | −155.8% | −169.4% | −496.1% | −320.8% | −394.2% | −416.0% | −457.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LCID's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LCID financial results
In fiscal year 2025 (ended December 31, 2025), Lucid reported revenue of $1.4 billion, up 67.6% from the year before. It had a net loss of $2.7 billion, a net profit margin of −199.3%. Diluted earnings per share came to −$10.79. Over five years revenue grew at an average rate of 220.9% a year.
See the LCID stock overview for the latest quote and news, or the LCID chart for price history and technical indicators.
LCID income statement FAQ
What is Lucid's annual revenue?
Lucid reported total revenue of $1.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 67.6% from $807.8 million the previous year.
Is Lucid profitable?
No. Lucid reported a net loss of $2.7 billion in fiscal 2025, a net profit margin of −199.3%; its operating margin was −258.7%.
What is Lucid's gross margin?
Lucid's gross margin was −92.8% in fiscal 2025: for every $100 of revenue, Lucid kept $-93 after the direct cost of its products and services.
How much does Lucid spend on research and development?
Lucid spent $1.2 billion on research and development in fiscal 2025, 89.5% of revenue.
How fast is Lucid growing?
Revenue grew 220.9% a year on average over the last five fiscal years, from $4.0 million to $1.4 billion.
What are Lucid's earnings per share?
Lucid earned $-10.79 per diluted share in fiscal 2025, compared with $-10.90 a year earlier.
When will Lucid report its next earnings?
Lucid is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Lucid's fiscal year end?
Lucid's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.