Lotus Technology delivered Q3 results showing improved margins and significantly reduced net loss. Revenues dropped year-over-year, but operational efficiency improved. The company is preparing to launch a new PHEV model and continues its strategic acquisition of Lotus UK.
Net loss narrowed significantly to $65 million from $206 million a year earlier.
Gross margin improved to 8%, up from 3% in Q3 2024.
Revenue fell to $137 million, a 46% year-over-year decline.
Lotus plans to unveil a new PHEV with a 900V hybrid platform and over 1,000km range.
Lotus is optimistic about upcoming product launches and strategic integration plans, while acknowledging a dynamic market environment ahead.
Analyze how earnings announcements historically affect stock price performance