How does Lucid Group (LCID) make money?

Lucid Group (LCID) primarily makes money through Regulatory Credits, which accounts for 100% of total revenue. For TTM through Q1 2026, Lucid Group generated $1.40B in total revenue with a net profit margin of -239.8%.

What is Lucid Group (LCID) gross profit margin?

Lucid Group (LCID) reported a gross profit margin of -95.6% for TTM through Q1 2026, equivalent to −$1.34B in gross profit. This means Lucid Group retains -95.6% of each revenue unit after direct costs of production.

What is Lucid Group (LCID) operating profit margin?

Lucid Group (LCID) reported an operating profit margin of -268.4% for TTM through Q1 2026, equivalent to −$3.76B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Lucid Group (LCID) net profit margin?

Lucid Group (LCID) reported a net profit margin of -239.8% for TTM through Q1 2026, equivalent to −$3.36B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Lucid Group (LCID) invest in R&D?

Lucid Group (LCID) invested $1.30B in research and development in TTM through Q1 2026 (92.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does Lucid Group (LCID) spend on capital expenditures?

Lucid Group (LCID) spent $960.08M on capital expenditures in TTM through Q1 2026 (68.5% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Lucid Group (LCID) free cash flow?

Lucid Group (LCID) generated −$4.68B in free cash flow for TTM through Q1 2026 (-333.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

Where does Lucid Group (LCID) generate most of its revenue?

Geographically, 44.3% of Lucid Group (LCID) revenue came from North America in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.

How Lucid Group (LCID) Makes Money: A Visual Guide

Lucid Group (LCID) generated $1.40B in revenue but reported a net loss of $3.36B. Its largest revenue source is Regulatory Credits (100% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

In TTM through Q1 2026, Lucid Group (LCID) generated 44.3% of revenue from North America, followed by UNITED STATES (43.4%) and Middle East (6.2%).

Lucid Group (LCID) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported February 24, 2026).

Lucid Group (LCID) Revenue by Geography — FY 2025 (period end December 31, 2025)

Quarterly geographic data is unavailable for this period, so the table reflects the company's last annual disclosure (FY 2025 (period end December 31, 2025)). The income statement above uses TTM through Q1 2026, so regional dollars and percentages will not match line-for-line.

North America
Revenue
$1.17B
% of total
44.3%
UNITED STATES
Revenue
$1.14B
% of total
43.4%
Middle East
Revenue
$163.56M
% of total
6.2%
SAUDI ARABIA
Revenue
$161.80M
% of total
6.1%
Total
Revenue
$2.63B
% of total
100%

Region	Revenue	% of total
North America	$1.17B	44.3%
UNITED STATES	$1.14B	43.4%
Middle East	$163.56M	6.2%
SAUDI ARABIA	$161.80M	6.1%
Total	$2.63B	100%

View Lucid Group (LCID) revenue history

Frequently asked questions

How does Lucid Group (LCID) make money?: Lucid Group (LCID) primarily makes money through Regulatory Credits, which accounts for 100% of total revenue. For TTM through Q1 2026, Lucid Group generated $1.40B in total revenue with a net profit margin of -239.8%.
What is Lucid Group (LCID) gross profit margin?: Lucid Group (LCID) reported a gross profit margin of -95.6% for TTM through Q1 2026, equivalent to −$1.34B in gross profit. This means Lucid Group retains -95.6% of each revenue unit after direct costs of production.
What is Lucid Group (LCID) operating profit margin?: Lucid Group (LCID) reported an operating profit margin of -268.4% for TTM through Q1 2026, equivalent to −$3.76B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Lucid Group (LCID) net profit margin?: Lucid Group (LCID) reported a net profit margin of -239.8% for TTM through Q1 2026, equivalent to −$3.36B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Lucid Group (LCID) invest in R&D?: Lucid Group (LCID) invested $1.30B in research and development in TTM through Q1 2026 (92.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Lucid Group (LCID) spend on capital expenditures?: Lucid Group (LCID) spent $960.08M on capital expenditures in TTM through Q1 2026 (68.5% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Lucid Group (LCID) free cash flow?: Lucid Group (LCID) generated −$4.68B in free cash flow for TTM through Q1 2026 (-333.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
Where does Lucid Group (LCID) generate most of its revenue?: Geographically, 44.3% of Lucid Group (LCID) revenue came from North America in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
Where do segment and geographic numbers come from?: Product-segment shares come from the same TTM income statement that powers the Sankey chart. Geographic splits are first rebuilt from the four most recent quarterly geographic-segmentation filings so they align with the same TTM window; if quarterly geo data is missing, we fall back to the latest annual disclosure (the table heading shows which one is in use).
When was this data last updated?: Based on company filings through TTM through Q1 2026.