Company profile
SEC EDGAR ↗- Industry
- Motor Vehicles & Passenger Car Bodies
- Listed
- Nasdaq: LCID
- Incorporated
- DE
- Headquarters
- Newark, CA
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $1.35B
- Net income
- −$2.70B
- Total assets
- $8.39B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $1.35B | −$2.70B | $8.39B |
| FY2024 | $807.8M | −$2.71B | $9.65B |
| FY2023 | $595.3M | −$2.83B | $8.51B |
| FY2022 | $608.2M | −$1.30B | $7.88B |
| FY2021 | $27.1M | −$2.58B | $7.88B |
| FY2020 | $3.98M | −$719.4M | $1.40B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Fork · Decision Forks
Lucid Delivers Record Cars, Spends Two Dollars to Make One, and Leans on a Sovereign Fund
In 2024 Lucid celebrated record deliveries of 10,241 cars — while burning toward a $12.9 billion accumulated deficit and spending two dollars to make one. The brand is real. The survival question is whether the sovereign fund underneath it ever lets the company stand on its own.
8 min
The Fall · Decision Forks
Lucid Built the Best EV Nobody Could Afford to Sell. The Money Did the Rest.
Lucid promised 251,000 cars and $2.9B EBITDA by 2026. It delivered 10,241 cars in 2024 and racked up a $10.2B accumulated deficit. The collapse wasn't the engineering — it was a sovereign lifeline that keeps it alive and keeps it captive.
8 min
The Fall · Decision Forks
Read as a Saudi Sovereign-Fund Project, Lucid's $2.71 Billion Loss Is the Plan Working
Lucid lost $2.71 billion in 2024 and ran negative $3.8 billion of free cash flow in 2025. Read as a startup chasing breakeven, that's a death spiral. Read as a Saudi sovereign-fund project, it's the plan working exactly as designed.
8 min