Lucid Group, Inc.
Financial Performance
Lucid Revenue & Financials
Revenue
$1.4B (FY2025)
Market Cap
$1.6B
Employees
6,500
What is Lucid's revenue?
Lucid had $1.4B in revenue for fiscal year 2025, up 67.6% from 2024. It reported a net loss of $2.7B.
- Latest revenue
- $1.4B (FY2025)
- Year-over-year
- +67.6%
- Growth rate (CAGR)
- 158% over 6 years
- Peak revenue
- $1.4B (FY2025)
- Years of data
- 7
- Employees
- 6,500
Financial Analysis
Lucid is growing revenue but remains deeply loss-making. Revenue rose from $595M in 2023 to $808M in 2024 and $1.354B in 2025, while net losses stayed near $2.7B a year. In Q2 2026 revenue reached $405M (up 56% year over year) on 3,953 deliveries, but adjusted EBITDA was a loss of about $901M and total liquidity fell to roughly $3B. The company relies on outside capital: an April 2026 raise of about $1.05B included $550M from a PIF affiliate, $200M from Uber and a $300M public offering. Lucid Group, Inc. is a major American electric vehicle manufacturer, maintaining a market valuation typically exceeding $7 billion, bolstered significantly by immense financial backing from Saudi Arabia's Public Investment Fund (PIF).
Revenue Trend Analysis
YoY Change
+67.6%
6-Year CAGR
+158%
Peak Year
2025
Trend
Mostly Growing
Lucid Group, Inc. has 7 full fiscal year figures on this page, compounding at +158% annually over 6 years. The most recent year saw a 67.6% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $1.4B. Of 6 comparable year-over-year steps, 4 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $1.4B | -$3.5B | -$2.7B | +67.6% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2026-02-24) Fiscal year ended 2025-12-31. |
| FY2024 | $807.8M | -$3B | -$2.7B | +35.7% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2026-02-24) Fiscal year ended 2024-12-31. |
| FY2023 | $595.3M | -$3.1Bfiling | -$2.8B | -2.1% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2024-02-27) Fiscal year ended 2023-12-31. |
| FY2022 | $608.2M | -$2.6Bfiling | -$1.3B | +2143.3% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2024-02-27) Fiscal year ended 2022-12-31. |
| FY2021 | $27.1M | -$1.5B | -$2.6B | +581.9% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2024-02-27) Fiscal year ended 2021-12-31. |
| FY2020 | $4M | -$599.2M | -$719.4M | -13.4% | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2023-02-28) Fiscal year ended 2020-12-31. |
| FY2019 | $4.6M | -$257.9M | -$277.4M | — | Lucid Group, Inc. annual report (Form 10-K, SEC EDGAR, filed 2022-02-28) Fiscal year ended 2019-12-31. |
Click any row to see year details.
Lucid Group, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | -$2.9B | $868.2M | $8.4B | $5.4B | $717.3M | -$3.8B | Form 10-K |
| FY2024ended Dec 31, 2024 | -$2B | $883.8M | $9.6B | $4.5B | $3.9B | -$2.9B | Form 10-K |
| FY2023ended Dec 31, 2023 | -$2.5B | $910.6M | $8.5B | $3.7B | $4.9B | -$3.4B | Form 10-K |
| FY2022ended Dec 31, 2022 | -$2.2B | $1.1B | $7.9B | $3.5B | $4.3B | -$3.3B | Form 10-K |
| FY2021ended Dec 31, 2021 | -$1.1B | $421.2M | $7.9B | $4B | $3.9B | -$1.5B | Form 10-K |
| FY2020ended Dec 31, 2020 | -$570.2M | $459.6M | $1.4B | $227.4M | -$1.3B | -$1B | Form 10-K |
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Lucid Revenue and Financial FAQ
What is Lucid Group's annual revenue and vehicle delivery profile?
Lucid reported revenue of $1.354B for 2025, up 68% from $808M in 2024, with 15,841 deliveries. Q2 2026 revenue was $405M on 3,953 deliveries.
How much capital has Saudi Arabia's PIF invested in Lucid?
The Public Investment Fund of Saudi Arabia and its affiliates have committed over $6.5 billion in cumulative equity investments, convertible preferred notes, and credit facilities into Lucid, providing crucial liquidity to fund factory expansion and vehicle R&D.
When and how did Lucid Group go public on NASDAQ?
Lucid went public on NASDAQ on July 26, 2021, under the ticker symbol 'LCID' following a business combination with Churchill Capital Corp IV (CCIV), a SPAC led by financier Michael Klein, raising approximately $4.4 billion in gross proceeds.
What is Lucid's gross margin trajectory and path to profitability?
Due to high initial factory depreciation, tooling costs, and early-stage manufacturing volumes, Lucid has operated with negative gross margins, aiming to achieve positive unit economics and cash flow through the volume production of the Gravity SUV and midsize platform.
How do vehicle pricing tiers range across the Lucid Air portfolio?
The Lucid Air lineup spans from the entry-level Air Pure (starting around $69,900) to the Air Touring ($78,900), Air Grand Touring ($110,900), and the halo triple-motor 1,234-hp Air Sapphire ($249,000).
What is Lucid's liquidity runway?
Lucid reported about $3B of total liquidity at June 30, 2026, including about $733M of cash and cash equivalents, and said its runway extends well into 2027.
Is Lucid going bankrupt?
Without their massive financial backers, they likely would have. Building cars burns massive billions. Lucid's absolute financial salvation is the Saudi Arabian Public Investment Fund (PIF), which owns roughly 60% of the company. The Saudi government has repeatedly injected massive, multi-billion dollar lifelines into Lucid to ensure its survival, viewing the company as critical to Saudi Arabia's transition away from an oil-dependent economy.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Lucid Revenue & Financials." CorpDigest, https://corpdigest.com/company/lucid/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Lucid reported $1.4B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/lucid/financials" target="_blank" rel="noopener">CorpDigest — Lucid financials</a></div>Related Financial Audits
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