Overview
- Revenue rose 78% year over year to $1.56 billion in the third quarter, topping estimates of about $1.49 billion.
- The stock surged roughly 25% on Nov. 4 following the earnings release.
- Higher‑than‑expected deliveries and a rush to buy before federal EV tax credits expired contributed to the sales strength, according to coverage.
- Rivian’s R1T and R1S did not qualify for those tax credits due to battery content rules, though customers could still tap subsidies through leases.
- Rivian reported a $24 million positive gross profit alongside a narrower‑than‑expected loss, and it reaffirmed R2 plans for the first half of 2026 with targeted manufacturing costs about half of the R1 and an expected price near $45,000, while trimming its 2025 delivery outlook to around 42,000 units.