Lotus Technology (LOT) Narrows Q3 EPS Loss To US$0.10 Challenging Bearish Profitability Narratives

Lotus Technology (NasdaqGS:LOT) has just posted its FY 2025 third quarter numbers, with revenue of US$137.4 million, a net loss of US$65.4 million and basic EPS of a US$0.10 loss. The trailing twelve months show revenue of US$627.3 million and a net loss of US$818.3 million, or EPS of a US$1.24 loss. Over recent quarters the company has reported revenue moving from US$271.5 million in FY 2024 Q4 to US$92.8 million in FY 2025 Q1, then to US$125.5 million in Q2 and US$137.4 million in Q3. Quarterly basic EPS has ranged from a US$0.66 loss in FY 2024 Q4 to a US$0.10 loss in FY 2025 Q3. With revenue building against persistent losses, investors may focus on whether margins can tighten enough for that growth potential to start feeding through to the bottom line.

See our full analysis for Lotus Technology.

With the latest figures on the table, the next step is to see how these margins and loss trends compare with the widely followed growth and profitability narratives around Lotus Technology.

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Losses Narrow to US$65 million, but TTM Still at US$818 million

• For FY 2025 Q3, Lotus Technology reported a net loss of US$65.4 million and basic EPS loss of US$0.10, while over the trailing twelve months the company recorded a total net loss of US$818.3 million and a basic EPS loss of US$1.24.
• Consensus narrative talks about a path toward earnings of US$209.2 million by around 2029, yet the current trailing loss of US$818.3 million and quarterly net losses ranging from US$182.8 million in FY 2025 Q1 to US$65.4 million in Q3 show how much progress would be needed for that shift.
• Analysts are assuming earnings growth of 115.68% per year with profit margins moving from about a 130.4% loss to a 5.4% profit, while recent quarterly basic EPS has stayed in loss territory between US$0.66 and US$0.10 per share.
• The consensus price target of US$2.40, compared with the current share price of US$1.49, sits against a backdrop of trailing twelve month revenue of US$627.3 million paired with sizeable losses, so the earnings turnaround built into that view rests on numbers that are not yet visible in reported results.

Revenue at US$627 million TTM Against Richer 1.6x P/S

• Trailing twelve month revenue stands at US$627.3 million while Lotus Technology trades on a P/S of about 1.6x, which is slightly above the peer average of 1.5x and well above the US auto industry average of 0.6x.
• Bulls argue the premium multiple is justified by strong growth projections, and the forecast revenue growth of 59.2% per year with expectations of becoming profitable within three years is a key part of that. Yet the current P/S premium over both peers and the wider US auto industry means the bullish case leans heavily on those forecasts playing out in the reported numbers.
• Consensus estimates for revenue growth of 83.4% per year highlight how growth focused the bullish view is, while recent quarterly revenue has moved from US$92.8 million in FY 2025 Q1 to US$137.4 million in Q3, still well below the US$254.7 million to US$271.5 million range seen in FY 2024 Q3 and Q4.
• With the stock at US$1.49 and analysts pointing to US$2.40, the gap between the current P/S premium and the industry average, together with the ongoing losses, frames how much weight bullish investors are putting on the expected revenue ramp and margin improvement.

Have a closer look at how bullish investors are framing that growth story, including the revenue and margin assumptions baked into their targets with 🐂 Lotus Technology Bull Case.

Negative Equity and Widening Multi year Losses Worry Bears

• The company reports negative shareholders’ equity on the balance sheet and losses that have grown around 22.5% per year over the past five years, while the latest trailing twelve month net loss is US$818.3 million against US$627.3 million of revenue.
• Bears highlight this combination of negative equity and multi year loss expansion as a core risk, and the fact that FY 2025 quarterly net losses still range from US$65.4 million to US$182.8 million, despite cost discipline mentioned in the narratives, supports their concern that the move from a 130.4% loss margin to positive margins could take longer or be more uneven than the forecasts imply.
• Even with analysts projecting Lotus Technology could become profitable within three years, the trailing twelve month EPS loss of US$1.24 and a history of widening losses provide ammunition for the cautious view that execution around new models, store optimization and integration will need to translate into materially different numbers.
• Negative shareholders’ equity, together with the premium P/S multiple of 1.6x versus the industry at 0.6x, means skeptics see limited room for error while the company is still reporting sizeable operating and net losses across recent quarters.

Skeptical investors focus on those balance sheet and loss trends, and you can see how that cautious stance is built from the numbers in the dedicated bear case breakdown with 🐻 Lotus Technology Bear Case.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Lotus Technology on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Mixed on the story so far or leaning strongly one way or the other, it still helps to look at the underlying data yourself and decide how you feel about both the upside and the downside. To see those key swings in one place, take a moment to review the 1 key reward and 1 important warning sign

See What Else Is Out There

Lotus Technology is still reporting sizeable losses alongside negative shareholders’ equity and a premium P/S multiple, which leaves little room for setbacks while the turnaround thesis plays out.

If that mix of ongoing losses and negative equity feels uncomfortable, you can quickly compare it with companies screened for stronger balance sheets and fundamentals by checking the solid balance sheet and fundamentals stocks screener (41 results).

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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