Overview
- Rivian posted $1.56 billion in revenue and a $24 million gross profit in Q3, while reporting a $1.17 billion net loss, or $0.96 per share.
- Shares jumped after the report but have eased as analysts flag a one-time sales pull-forward tied to the federal EV tax credit ending Oct. 1.
- Technology licensing tied to Rivian’s Volkswagen partnership also supported margins, a factor some investors see as less repeatable.
- Stifel reiterated a Buy rating and raised its price target to $17, citing stronger software and services economics and lower unit costs.
- Rivian plans an Autonomy & AI Day on Dec. 11 and signals the lower-priced R2 SUV is expected next year as the next major catalyst.