Quarterly ResultApr 10, 2026, 06:01 AM
Lotus Technology Reports 2025 Revenue of $519M, Down 44% YoY; Gross Margin Improves to 9% and Net Loss Narrows 58% to $464M
AI Summary
Lotus Technology Inc. announced its unaudited financial results for the full year 2025, reporting total revenues of $519 million, a 44% decrease year-over-year, alongside a 46% decline in total vehicle deliveries to 6,520 units. Despite revenue headwinds, the company significantly improved its financial efficiency, with gross margin rising to 9% from 3% in 2024 and net loss narrowing by 58% to $464 million. Operational resilience was further demonstrated by a 69% surge in service revenues and a 46% reduction in full-year operating loss. Strategically, Lotus Tech debuted its first PHEV model, "For Me," in March 2026, expanding its product roadmap to cater to diversified powertrain demands.
Key Highlights
- Total revenues for 2025 were $519 million, a 44% decrease from $924 million in 2024.
- Gross margin improved significantly to 9% in 2025, up from 3% in 2024, mainly due to upgraded model deliveries and disciplined cost control.
- Net loss narrowed by 58% year-over-year to $464 million in 2025, compared to $1,107 million in 2024.
- Operating loss narrowed by 46% year-over-year to $423 million in 2025, and by 65% in the fourth quarter, demonstrating operational efficiencies.
- Total vehicle deliveries decreased by 46% to 6,520 units in 2025, with China deliveries growing to 2,960 units (45% of total) and outperforming the PRC premium automotive segment.
- Service revenues surged by 69% year-over-year to $56 million in 2025, primarily driven by R&D service revenue and the commercialization of intellectual property.
- The company debuted its first PHEV model, "For Me" (Eletre X in Europe), in March 2026, built on Lotus 900V X-Hybrid architecture, enabling 0-100 km/h acceleration in 3.3 seconds and a combined cruising range of over 1,400 kilometers.