Lotus Technology Inc.
LOT, LOTWW · Motor Vehicles & Passenger Car Bodies · EDGAR filings ↗
Grade
D44Luxury EV maker under the Lotus brand with collapsing revenue, deep operating losses, and impairment charges.
Strengths
- Cash and investments ~$121M and improved gross margin (8.7%, ~48th pct) vs. prior year
- Established global brand and EU/UK/US type approvals
Risks
- Revenue fell 44% (4th pct) with a $464M net loss; operating margin -82%, net margin -89%
- Weak liquidity (current ratio 0.38, 13th pct) and negative interest coverage
- PRC governance/HFCAA risk; ROE (77th pct) is a negative-equity artifact
Notable findings
- No interest coverageInterest coverage -6.68 (cannot cover interest)
- Negative equityNegative book equity (debt/equity -0.10)
- Net lossNet loss (net margin -89.4%)
- Weak liquidityCurrent ratio 0.38 (<1)
- Strong balance sheetStrong balance sheet — $121M cash & investments
- Revenue declineRevenue -43.8% YoY
Key metrics
Gross margin
8.7%
Operating margin
-81.5%
Net margin
-89.4%
Return on equity
35.1%
Return on assets
-23.8%
Revenue growth (QoQ)
-43.8%
Debt / equity
-0.1×
Interest coverage
-6.7×
Current ratio
0.4×
EBITDA
-$368M
Tangible book value
-$1.4B
Cash & investments
$121M
Stock comp / revenue
0.4%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-28 | 2025-12-31 | 0001104659-26-050310 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001410578-25-001020 ↗ |
| 20-F | 2024-04-22 | 2023-12-31 | 0001104659-24-050028 ↗ |