Overview
- Rivian reported $1.56 billion in revenue and an adjusted loss of $0.65 per share, topping LSEG consensus on both.
- Q3 deliveries reached 13,201 vehicles, and full-year delivery guidance stands at 41,500 to 43,500 units.
- Gross profit totaled $24 million, with a $130 million automotive gross loss offset by $154 million from the Volkswagen joint venture and software and services.
- The company reaffirmed an adjusted 2025 EBITDA loss range of $2.0 billion to $2.25 billion as tariffs and elevated R&D spending, including $453 million in Q3, pressure margins.
- Rivian says production of the lower-cost R2 SUV remains on track for the first half of next year, following ~4.5% workforce cuts and with analysts expecting a Q4 delivery dip after the tax-credit pull-forward.