Overview
- Shares climbed 9.6% Tuesday to $17.99, up 18% since last week’s close and about 45% from a Nov. 4 low, following Q3 results that topped estimates.
- Rivian reported $1.56 billion in Q3 revenue, 13,201 deliveries and a return to positive gross profit at $24 million, aided by manufacturing efficiencies.
- An SEC filing detailed a new 10‑year CEO package for RJ Scaringe worth up to $4.6 billion via 36.5 million options at a $15.22 strike, contingent on stock targets of $40–$140 plus operating income and cash‑flow goals, replacing the 2021 plan.
- Institutional interest rose, with Vanguard adding about 2.6 million shares to 81.67 million in Q3 and Citigroup doubling its stake to 8.54 million shares.
- The Volkswagen joint venture contributed a $167 million software and services boost to gross profit, with Rivian noting initial funding tranches received and outlining expected additional VW equity in 2026, a loan in October 2026, and a further tranche around 2028 as it targets R2 validation by year‑end and sales in the first half of 2026 alongside ongoing cost cuts and a Dec. 11 Autonomy Day.