Overview
- Revenue reached $1.56 billion versus about $1.5 billion expected, with an adjusted loss of $0.65 per share coming in smaller than forecasts.
- Rivian posted a $24 million gross profit, its second this year, as $154 million from the Volkswagen joint venture and software offset a $130 million automotive gross loss.
- Deliveries rose 32% year over year to 13,201 vehicles in Q3, with production at 10,720, following a pull-forward tied to the expiring $7,500 federal EV credit.
- The company maintained 2025 guidance for 41,500–43,500 deliveries and an adjusted EBITDA loss of $2.0–$2.25 billion, with capital spending of $1.8–$1.9 billion.
- R2 midsize SUV production remains slated for the first half of 2026 as Rivian manages higher R&D spend of $453 million in the quarter and recent layoffs of about 4.5% of staff.