Lucid Motors reports doubled revenue in Q4, but it keeps bleeding money

Lucid Motors is moving into a busy new year with big plans for its electric cars. The company shared its financial results for the last year, and while it did not make as much profit as experts hoped, it did make more money from sales than expected. Now, the California company is looking toward 2026 as a bridge to its future. The main goal is to grow steadily as it is getting ready to launch a cheaper vehicle.

The company wants to build between 25,000 and 27,000 vehicles this year. This is a big step up from last year. In 2025, Lucid made 17,840 EVs. If it hits the high end of the new goal, production will grow by about 50%. This is impressive for a company that at the moment only sells two models. But even with this growth, Lucid is not yet reaching the huge numbers that the biggest car companies see every year.

Most of the EVs coming off the assembly line this year will be the Lucid Gravity - a large SUV with three rows of seats. It had a difficult start last year because of glitches with the parts and the computer systems. The company says those problems were fixed by the end of 2025. Even though the Gravity is a high-quality machine, it is expensive and Lucid knows that to really succeed, it needs a car that fits the budgets of more families.

The real "game changer" for Lucid is expected to arrive at the end of 2026. This is a midsize crossover that will cost around $50,000. Right now, Lucid's cars are known for being luxury items with high price tags. A $50,000 model would help the company compete with many more brands. But there is a catch: this new car will not be built in large numbers until after 2026. This means Lucid has to be very careful with its money until that new model is ready for everyone to buy.

Financially, the company is seeing some bright spots. In the last three months of 2025, Lucid brought in $522.7 million in revenue. That is a huge 123% increase compared to the same time a year before. For the whole year of 2025, it made about $1.35 billion. But even with all that money coming in, the company is still losing money overall. The reported loss stands at $12.09 per share for the full year. To help stay stable, Lucid ended the year with about $4.6 billion in cash and available funds.

Lucid had to find ways to save, and the company had to let go of 12% of its workers in the United States. This was a tough decision, but Lucid says this will help to save $500 million over the next three years. The company wants to use the resources more wisely to make sure it can finish the midsize crossover and keep improving the software.

The road ahead will not be easy because other companies are also launching new EVs. Lucid will have to face off against BMW and Mercedes-Benz. Both of those companies are bringing out new electric SUVs soon. There is also Rivian, which is launching its own smaller R2 crossover very shortly.

Lucid is also thinking about the future of driving. The company is working on robotaxis and self-driving technology. It wants to be one of the first companies to have cars that can drive themselves for ride-sharing services. For now, fans and investors are waiting for March 12. That is when Lucid will hold an "Investor Day" to share more secrets about the $50,000 midsize car.

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