Q4 2025 Lotus Technology Inc Earnings Call Transcript
Key Points
- Lotus Technology Inc (LOT) improved its gross margin significantly to 10% in Q4 2025, up from negative 11% in the same period of 2024.
- The company achieved a 63% year-over-year improvement in adjusted EBITDA, narrowing the loss to USD 356 million from USD 961 million in 2024.
- Service revenue surged 69% year-over-year to USD 56 million, driven primarily by R&D service revenue.
- Lotus Technology Inc (LOT) successfully launched its first hybrid SUV, the Eletre X, which is expected to drive sales and revenue growth.
- The company secured a strategic equity investment of USD 23 million from ECARX, enhancing its global strategic partnership and innovation capabilities.
- Total vehicle deliveries in 2025 decreased by 64% year-on-year, reflecting intensified market competition and tariff impacts.
- Total revenues for the full year 2025 fell by 44% year-on-year to USD 519 million, with sales of goods dropping 48% due to lower sales volume.
- The geopolitical situation and tariffs have negatively impacted production, inventory, and pricing, particularly in the US and EU markets.
- Operating loss for Q4 2025 was USD 66 million, despite a 65% year-over-year reduction.
- The company faces external headwinds such as rising costs for car components like batteries and chips, which could pressure gross margins in 2026.
Good day and thank you for standing by. Welcome to Lotus Technology Inc fourth quarter and full year 2025 earnings conference call. (Operator Instructions). Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, Ms. Michelle Ma, Head of Investor Relations. Please go ahead.
Thank you, and welcome to Lotus Tech's fourth-quarter and full-year 2025 earnings call. My name is Michelle Ma, the Head of Investor Relations here at Lotus. With me today are the CEO, Mr. Qingfeng Feng, and the CFO, Dr. Daxue Wang. Our conference call materials were issued today and are available on our Investor Relations website. We are also broadcasting this call via webcast.
Before we continue, please be reminded that today's discussion will contain forward-looking statements, permanent to the three-part acquisitions of the US finance Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks
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