Free cash flow burn has accelerated to a negative $905.9 million in 2024Q4, highlighting a severe disconnect between capital expenditure intensity and operational cash generation.
| Cash from Operations | -848.52M | -333.91M | -848.52M | -386.93M | -351.58M | -126.5M |
| Operating CF Margin % | - | -64.32% | -91.8% | -56.98% | -3677.09% | -3431.11% |
| Operating CF Growth % | -417.71% | 60.65% | -119.29% | -10.05% | -177.92% | - |
| Net Income | -1.1B | -464.22M | -1.11B | -742M | -724.26M | -110.53M |
| Depreciation & Amortization | 76.49M | 54.74M | 76.49M | 54.96M | 12.79M | 2.06M |
| Stock-Based Compensation | 31.93M | 2.27M | 31.93M | 0 | 10.63M | 0 |
| Deferred Taxes | 0 | 687K | 0 | -126K | 0 | 0 |
| Other Non-Cash Items | 322.62M | 57.88M | 322.62M | 36.02M | 7.19M | -482.55M |
| Working Capital Changes | -172.27M | 14.73M | -172.27M | 264.22M | 342.07M | 464.52M |
| Change in Receivables | -156.07M | 95.46M | -156.07M | -47.29M | 3.2M | -89K |
| Change in Inventory | 69.67M | 81.23M | 69.67M | -235.38M | -21.64M | -1.96M |
| Change in Payables | 120.01M | 42.04M | 120.01M | 356.84M | 7.56M | 0 |
| Cash from Investing | -579.44M | 277.56M | -579.44M | -197.99M | -149.34M | 244.48M |
| Capital Expenditures | -57.34M | -79.43M | -57.34M | -213.71M | -133.41M | -34.59M |
| CapEx % of Revenue | 6.21% | 15.3% | 6.2% | 31.47% | 1395.26% | 938.16% |
| Acquisitions | 6.37M | -371K | 6.37M | 0 | 1.22M | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | -227.39M | -29.15M | -227.39M | 16.55M | -2.31M | 565.71M |
| Cash from Financing | 1.46B | 128.45M | 1.46B | 284.71M | 758.34M | 364.85M |
| Debt Issued (Net) | 719.92M | 623.08M | 719.92M | 255.81M | 414.9M | 148.48M |
| Equity Issued (Net) | 1.19B | 18.3M | 1.19B | 26.14M | 393.88M | 213.61M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | -1.88M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -446.62M | -512.92M | -446.62M | 2.76M | -50.44M | 4.64M |
| Net Change in Cash | 484.94M | 65.34M | 57.8M | -312.4M | 208.08M | 485.77M |
| Free Cash Flow | -905.86M | -413.34M | -905.86M | -600.65M | -484.99M | -161.09M |
| FCF Margin % | -98.04% | -79.63% | -98% | -88.46% | -5072.35% | -4369.27% |
| FCF Growth % | -392.57% | 54.37% | -50.81% | -23.85% | -201.06% | - |
| FCF per Share | -1.35 | -0.64 | -1.40 | -1.27 | -0.72 | -4.50 |
| FCF Conversion (FCF/Net Income) | 0.82x | 0.72x | 0.77x | 0.52x | 0.49x | 1.14x |
| Interest Paid | 8.14M | 19.16M | 8.14M | 8.09M | 471K | 0 |
| Taxes Paid | 678K | 16.46M | 678K | 1.15M | 1.76M | 62K |
Imminent liquidity and solvency
According to the latest quarterly data, Lotus Technology reported a net loss of $436.5 million alongside an operating cash outflow of $848.5 million, resulting in an OCF/NI ratio of 1.94 that highlights a severe inability to convert accounting losses into sustainable cash generation for the business.
The significant divergence between net income and operating cash flow suggests that the company is consuming cash at a rate far exceeding its reported accounting losses. This pattern indicates that working capital requirements and operational inefficiencies are placing immense pressure on the company's limited liquidity reserves.
As reported in recent financial statements, the company's free cash flow plummeted to a negative $905.9 million in 2024Q4, reflecting a deteriorating trajectory where capital expenditures continue to compound the underlying operating losses, leaving the firm with minimal financial flexibility to navigate its current market challenges.
The consistent negative free cash flow trajectory suggests that the company has yet to achieve the scale necessary to offset its heavy investment in electric vehicle platforms. Investors should monitor whether this burn rate necessitates further dilutive financing to maintain basic operational continuity.
Based on reported figures for 2024Q4, Lotus Technology maintained a capital expenditure to revenue ratio of 21.1%, indicating that the firm remains in a high-intensity investment phase that continues to drain cash resources despite the significant contraction in top-line revenue performance observed during the same period.
The high level of capital intensity relative to revenue suggests that the company is still heavily reliant on infrastructure and tooling investments to support its product lineup. This spending profile appears difficult to justify given the current lack of positive cash flow and the ongoing volatility in vehicle delivery volumes.
Analysis of recent quarterly filings reveals a $172.3 million cash outflow from working capital changes in 2024Q4, a trend that suggests the company is struggling to manage its inventory and payables effectively as it attempts to scale its global luxury electric vehicle distribution and manufacturing operations.
The erratic nature of working capital movements indicates potential bottlenecks in the supply chain or difficulties in converting inventory into cash. This volatility adds an additional layer of risk to the company's already precarious liquidity position, warranting close scrutiny of future cash conversion cycles.
Quick answers to the most common questions about buying LOT stock.
Lotus Technology Inc. American Depositary Shares (LOT) generated $-333.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Lotus Technology Inc. American Depositary Shares (LOT) reported negative free cash flow of $413.3M in 2025, indicating capital requirements exceeded cash from operations.
Lotus Technology Inc. American Depositary Shares (LOT) spent $79.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.