Lucid Group (LCID) Stock: What to Anticipate from Tuesday’s Q4 Earnings

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TLDR

  • Lucid Group (LCID) will report its Q4 earnings on February 24, and Wall Street anticipates a loss of $2.67 per share.
  • Revenue is projected to increase by 96% year-on-year to $459.5 million.
  • In Q4, deliveries reached 5,345 vehicles, up more than 70% year-over-year, and full-year deliveries rose 55% to 15,841.
  • Benchmark reiterated a Buy rating with a $30 price target; the stock is currently trading near its 52-week low of $9.50.
  • Options traders are factoring in a 14.77% movement in either direction after the report.

Lucid Group enters its Q4 earnings report on February 24 with a stock that has declined 8% year-to-date and is trading near its 52-week low of $9.50.

LCID Stock Card

The EV maker is expected to record a loss of $2.67 per share for the quarter, wider than the $2.20 loss it reported in the same period last year.

On the revenue front, analysts are more upbeat. Wall Street forecasts Q4 revenue of $459.5 million, which would represent a 96% year-over-year jump, according to TipRanks data.

Lucid has missed earnings estimates five times in the past nine quarters, so the bar for a clear beat is not particularly high.

The already reported delivery numbers provided investors with something to consider. It delivered 5,3,45 vehicles in Q4 and produced 8,412 units. Full-year 2025 deliveries totaled 15,841, a 55% increase over 2024 and slightly ahead of Benchmark’s estimates.

A significant portion of that delivery growth was due to the ramp-up of the Gravity SUV, Lucid’s new electric sport utility vehicle.

Margins and Cash in Focus

With deliveries already announced, the earnings call will shift the focus to gross margins. Lucid’s current gross profit margin stands at -97.91% according to InvestingPro data, and investors hope to see that figure move in the right direction as Gravity volumes increase.

Operating expense discipline is also under scrutiny, especially R&D and SG&A costs as the company concludes 2025.

Cash burn is another major concern. It burned through $3.38 billion in free cash flow over the past twelve months. With funding sensitivity rising towards the end of 2026, investors will be monitoring any updates on the company’s liquidity runway.

Benchmark analyst Mickey Legg, who reiterated a Buy rating and a $30 price target ahead of the report, stated that the Q4 release is largely a “clean-up quarter.” He anticipates the focus will be on margins, spending control, and the duration of cash reserves.

Profitability Still Years Away

Legg noted that Lucid is not expected to become profitable in the near future. The firm’s base case projects profitability in the 2026–2027 timeframe, driven by improvements in the Gravity mix, cost reductions, and the eventual launch of a midsize vehicle.

Options traders are factoring in a 14.77% movement in either direction following the release, reflecting the real uncertainty surrounding the company.

The broader analyst consensus is cautious. Three Wall Street analysts currently cover LCID with a Moderate Sell rating — two Holds and one Sell. The average price target of $12.67 implies approximately 30% upside from current levels, but the stock is trading roughly 72% below its 52-week high.

Regarding partnerships, Lucid recently announced a deal with Uber to deploy over,000 Gravity SUVs as robotaxis over six years, with Uber investing around $300 million in Lucid and Nuro.

Lucid will report after the market closes on Tuesday, February 24.