Lucid Group Financial Overview
Lucid Group (NASDAQ: LCID) reported a significant revenue increase of 68.5% in Q3 2025, climbing from $200 million in Q3 2024 to $337 million. However, the company’s costs also surged, with expenses rising by 62%, leading to a net loss of $978.4 million for the quarter, marginally better than the $992.5 million loss recorded in Q3 2024. As of September 30, 2025, Lucid’s cash reserves dwindled to $2.99 billion from $5 billion, while its total liabilities reached $5.1 billion.
Despite strong revenue growth, Lucid’s financial metrics indicate a precarious situation compared to rivals. The company has a dismal net income margin of -214%, in stark contrast to Rivian’s -61% and Tesla’s 5.3%. Even though Lucid has shown a year-over-year revenue growth rate of 45.8%, it faces substantial cash burn, raising concerns about its sustainability and potential appeal to investors.
