Investing.com -- Lucid Group Inc (NASDAQ:LCID), the luxury electric vehicle manufacturer, reported first-quarter revenue that fell short of analyst expectations, while its adjusted loss per share beat estimates. The company’s stock edged up 0.4% following the announcement.
Lucid posted revenue of $235 million for the quarter ended March 31, 2025, missing the consensus estimate of $246.01 million. However, the company reported an adjusted loss of $0.20 per share, which was better than the expected loss of $0.23 per share.
The EV maker delivered 3,109 vehicles in the first quarter, marking a 58.1% increase YoY. Production stood at 2,212 vehicles, excluding over 600 vehicles in transit to Saudi Arabia for factory gating.
"We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities," said Marc Winterhoff, Interim CEO at Lucid.
The company ended the quarter with approximately $5.76 billion in total liquidity. Lucid expects to manufacture approximately 20,000 vehicles in 2025, indicating confidence in its production capabilities despite the revenue miss.
CFO Taoufiq Boussaid commented, "We’re executing against our near-term goals — driving volume, improving margins, and operating with rigor. And we’re positioning ourselves for long-term value creation — with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories."
Lucid also highlighted recent achievements, including the opening of orders for its Lucid Gravity model in Canada and Saudi Arabia, and the development of innovative charging technology for the Gravity model.