Lucid has reported its second-quarter 2025 financial results on Tuesday, revealing lower-than-expected revenue and earnings as the company lowered its production outlook for the year.
While the EV maker posted year-over-year gains in deliveries and revenue, production challenges and shifting market dynamics continue to weigh on its path to profitability.
The company reported revenue of $259.4 million on deliveries of 3,309 vehicles, a 38% increase compared to the same period last year. However, the figure came in below analyst expectations, prompting a nearly 8% drop in Lucid’s share price during after-hours trading. Net loss for the quarter reached $855 million, or $0.28 per share, while adjusted losses came in at $0.24 per share.
Production totaled 3,863 vehicles for the quarter, and the company ended Q2 with approximately $4.86 billion in total liquidity. Despite this, Lucid adjusted its full-year production guidance to between 18,000 and 20,000 vehicles, down from its previous target of 20,000 units.
Lucid continues to ramp up production of its second vehicle, the Gravity SUV, which is expected to contribute more significantly to output in the second half of the year.
“We had our sixth consecutive quarter of record deliveries in Q2 and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year,” said Marc Winterhoff, Interim CEO at Lucid. “In Q1, we mentioned our ongoing partnership discussions to develop new revenue streams for our EV technology and beyond. The robotaxi partnership we announced with Uber and Nuro is a perfect example aligned with that strategy. We also continued to double down on increasing our brand awareness, introducing Timothée Chalamet, an award-winning actor and cultural icon, as our first global brand ambassador.”
Additionally, Lucid Air owners were recently granted access to Tesla’s Supercharger network, although charging speeds are severely limited to a maximum of 50kW.
