Shares of Lotus Technology Inc. (LOT) were gaining around 9 percent on the Nasdaq stock exchange after the luxury mobility provider reported Friday narrower loss for the fourth quarter, supported mainly by lower expenses, even though revenues declined by 40 percent from last year.
For the fourth quarter, net loss attributable to ordinary shareholders was $85.77 million or $0.14 per share, compared to loss of $439.81 million or $0.66 per share in the same quarter of last year.
On an adjusted basis, net loss was $85.75 million, compared to $442.40 million a year earlier.
Other operating income was $33.51 million compared to $2.83 million in the previous year.
Total operating expenses fell to $82.58 million from $159.09 million a year ago.
Quarterly net revenue declined to $163.34 million from $271.53 million a year before.
Lotus delivered 6,520 vehicles and achieved total revenue of $519 million in 2025, a 44% decrease from last year.
The company has unveiled its first PHEV model, named For Me, and commenced deliveries in China in March 2026.
Daxue Wang, Chief Financial Officer, stated, "Going forward, we expect the global launch of "For Me" to supercharge sales and revenue. Additionally, we expect that by focusing on revenue growth efforts, maximizing our products and competitive positioning, and enhancing margin expansion through strict cost reductions, our business will progress toward profitability..."
On the Nasdaq stock exchange, shares of Lotus were trading 9 percent higher at $1.5900.
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