Lucid Group Inc ( LCID ) reported fourth-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.

Q4 Earnings: Lucid reported fourth-quarter revenue of $234.5 million, beating the consensus estimate of $214.22 million, according to Benzinga Pro. The electric vehicle maker reported a fourth-quarter loss of 22 cents per share, beating analyst estimates for a loss of 27 cents per share.

Lucid said it produced 3,386 vehicles in the fourth quarter and delivered 3,099 vehicles. The company ended the quarter with approximately $6.13 billion in total liquidity.

“We saw significant momentum in 2024 with four consecutive quarters of record deliveries,” said Gagan Dhingra, Interim CFO of Lucid.

“Additionally, we made substantial progress in improving our gross margins, managing our operating expenses while balancing strategic growth investments, and strengthening our balance sheet with the support of the Public Investment Fund (PIF).”

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Guidance: Lucid said it expects to produce approximately 20,000 vehicles in 2025.

Lucid also announced that CEO and CTO Peter Rawlinson decided to step away from his roles and transition to a strategic technical advisor to the chairman of the company’s board. COO Marc Winterhoff has been appointed Interim CEO.

Lucid executives will further discuss the quarter on a conference call with investors and analysts at 5:30 p.m. ET.

LCID Price Action: Lucid shares were up 8.05% in after hours, trading at $2.82 at the time of publication Tuesday, according to Benzinga Pro.