Is Lucid (LCID) Stock a Buy Ahead of Earnings February 24

TLDR

• Lucid Group (LCID) reports Q4 earnings February 24, with Wall Street expecting a loss of $2.67 per share.
• Revenue forecast to rise 96% year-over-year to $459.5 million.
• Full-year 2025 deliveries hit 15,841 units, up 55% year-over-year.
• Benchmark reiterates Buy rating with $30 price target; stock near 52-week low of $9.50.
• Options traders pricing in a 14.77% move in either direction post-earnings.

Lucid Group heads into its Q4 earnings report on February 24 with the stock down 8% year-to-date and trading near its 52-week low of $9.50.

Lucid Group, Inc., LCID

Wall Street expects a loss of $2.67 per share, wider than the $2.20 loss posted in Q4 2024. Revenue is forecast at $459.5 million, up 96% year-over-year, according to TipRanks data.

Lucid has missed earnings estimates five times in the past nine quarters.

The delivery numbers are already in. Lucid delivered 5,345 vehicles in Q4 and produced 8,412 units. Full-year 2025 deliveries came in at 15,841, a 55% increase over 2024, driven largely by the ramp-up of the Gravity SUV.

Margins and Cash Burn in the Spotlight

With deliveries already reported, the earnings call is expected to focus on gross margins. Lucid’s current gross profit margin sits at -97.91%, and investors want to see movement as Gravity volumes scale.

Cash burn is the other big concern. Lucid burned through $3.38 billion in free cash flow over the last twelve months, and funding sensitivity is rising heading into late 2026.

Benchmark analyst Mickey Legg, who reiterated a Buy rating and $30 price target, called Q4 a “clean-up quarter.” He expects attention to center on margin progression, operating expense discipline, and liquidity runway.

Profitability Still a 2026 to 2027 Story

Benchmark sees profitability arriving in 2026 to 2027, driven by Gravity mix improvements, cost reductions, and the planned midsize vehicle launch.

Options traders are pricing in a 14.77% move in either direction following the report.

The broader analyst consensus sits at Moderate Sell, with two Holds and one Sell among the three analysts covering the stock. The average price target of $12.67 implies around 30% upside from current levels, though the stock trades roughly 72% below its 52-week high.

On the partnerships front, Uber is investing around $300 million into Lucid and Nuro as part of a deal to deploy over 20,000 Gravity SUVs as robotaxis over six years.

Lucid reports after market close on Tuesday, February 24.

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