UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (Exact name of registrant as specified in its charter) Delaware 85-0891392 (State or other jurisdiction of i ...

Core Insights - Lucid Group (LCID) reported a Q4 EPS of -$2.65, missing the expected -$2.20, while full-year revenue grew by 45.86% to $1.1 billion [1] - The company burned $955 million in free cash flow during Q3, ending the quarter with a cash position of $1.67 billion [1] - Cumulative losses since 2019 have reached $14.8 billion, with a gross margin of -97.91% for the trailing 12 months [1] Financial Performance - Q4 FY2025 consensus estimates predict an EPS of -$2.67 and revenue of $459.5 million [1] - In Q3 2025, Lucid delivered 4,078 vehicles, a 47% year-over-year increase, and revenue rose 68% to $336.6 million, but still fell short of consensus estimates [1] - Full-year vehicle deliveries increased by 55% year-over-year, totaling approximately 18,300 vehicles produced in 2025 [1] Operational Challenges - The gross margin remains a critical focus, with management indicating that the Gravity SUV ramp could improve margins in Q4 [1] - A 12% workforce reduction was announced to address cost issues, and the appointment of a new SVP of Supply Chain aims to mitigate past supply chain disruptions [1] - Analyst sentiment is cautious, with Morgan Stanley downgrading LCID to Underweight and RBC reducing its price target from $20 to $14 [1] Future Outlook - Lucid has accumulated significant losses, and investors are seeking a clear timeline for when revenue growth will outpace cash burn [1] - The upcoming Investor Day is expected to provide insights into the midsize vehicle roadmap and autonomy strategy, which may be more critical than the earnings report itself [1]

Lucid Group (LCID) is a cutting-edge American company specializing in luxury electric vehicles (EVs). It designs, engineers, and manufactures high-performance EVs like the Lucid Air sedan and Gravity SUV, along with advanced powertrains and battery systems. Founded in 2007 as Atieva, it was renamed Lucid Motors in 2016. The company is headquartered in Newark, California, with key manufacturing in Casa Grande, Arizona. Lucid operates primarily in the United States and Saudi Arabia while supplying tech to p ...

Lucid stock remains under intense pressure this year as concerns about its balance sheet and growth trajectory continue. LCID dropped to $9.55, down by 72% from its highest level in 2025. ...

Core Viewpoint - Lucid is facing significant challenges in the electric vehicle (EV) market, with its stock down 90% over the past three years due to slowing sales and financial difficulties [1] Company Performance - Lucid's Air sedan is recognized for its impressive technology, holding the world record for the longest distance driven on a single charge at 749 miles [3][4] - The company doubled its vehicle production in 2025 to 18,378 vehicles, with deliveries increasing by 55% to 15,800 [4] - Lucid is developing a more affordable EV model expected to start production later this year, priced around $50,000, which could attract more buyers [5] Financial Challenges - Lucid reported losses of $1 billion in Q3, significantly outpacing its sales of $337 million [6] - The company is likely to continue facing difficulties in reducing losses as it prepares for the launch of its lower-priced EV, which involves high costs [7] Industry Context - The overall EV market is struggling, with U.S. EV sales falling by 36% in Q4 2025 year-over-year [9] - The termination of the EV tax credit program and rising vehicle costs are additional challenges for EV manufacturers [9] - Despite rising vehicle sales, Lucid's total sales remain low, with just over 18,000 vehicles sold in a year, raising concerns about future success [10]

Core Insights - Lucid Group Inc. is recognized as a leading alternative energy stock, particularly in the electric vehicle (EV) sector, with a recent event in Berlin showcasing its new Lucid Gravity SUV [1][2] - The Lucid Air Grand Touring sedan has achieved a significant milestone by covering 520 kilometers (323 miles) on a single charge, the longest range recorded during the 2026 NAF Winter Test in Norway [3] Group 1: Company Overview - Lucid Group Inc. is an electric vehicle manufacturer based in Newark, California, specializing in luxury EVs, with its flagship model being the Lucid Air sedan produced in Casa Grande, Arizona [4] Group 2: Product Highlights - The Lucid Gravity SUV was introduced to European audiences at a live event, emphasizing emotional connection over technical specifications [2] - The Lucid Air Grand Touring's performance in the NAF Winter Test demonstrated its superior range compared to competitors, with the nearest rival, the Mercedes-Benz CLA, covering only 421 kilometers [3]

电动汽车制造商Lucid（股票代码：LCID，当前股价9.58美元，跌幅1.78%）周五宣布，作为提升盈利能 力努力的一部分，将裁减其美国员工总数的12%。这是Lucid自2023年3月以来的第三轮裁员。截至2024 年底，该公司表示其在全球拥有6800名员工。 临时CEO马克·温特霍夫在Business Insider发布的一封电子邮件中告诉员工："做出这个艰难但必要的决 定，是为了在我们继续通往盈利的道路上，提高运营效率并优化资源配置。"自2025年2月以来，该公司 一直没有常任CEO。 近几个月来，Lucid一直致力于增加其现金储备。去年年底，它宣布计划通过私募发行2031年到期的可 转换优先票据筹集8.75亿美元。 责任编辑：张俊 SF065 电动汽车制造商Lucid（股票代码：LCID，当前股价9.58美元，跌幅1.78%）周五宣布，作为提升盈利能 力努力的一部分，将裁减其美国员工总数的12%。这是Lucid自2023年3月以来的第三轮裁员。截至2024 年底，该公司表示其在全球拥有6800名员工。 临时CEO马克·温特霍夫在Business Insider发布的一封电子邮件中告诉员工："做出这个艰 ...

It's been a struggle to hold Lucid Group (NASDAQ: LCID) over the past five years. The electric vehicle stock has lost almost all of its value -- 98% to be precise -- since it started trading in 2021. But the company has strong financial backing from Saudi Arabia's sovereign wealth fund, and will begin manufacturing vehicles there this year. Lucid is also hosting an investor day in just a few weeks, where management will present updates on the company's technology and its upcoming mid-size vehicle model. W ...

据科技媒体TechCrunch：电动车制造商Lucid Group削减12%员工，以寻求盈利。 ...

Lucid said on Friday it was laying off 12% of its U.S. workforce as the electric-vehicle maker seeks to improve gross margin and long-term growth. ...