Rivian Automotive, Inc. / DE (RIVN) Company Report

Rivian's R2 launch is a pivotal event, targeting a larger addressable market and aiming for positive gross profit margins by the end of 2026 for R2, contributing to the company's overall automotive gross profit positivity by the same period. The Normal, Illinois plant is capable of producing over 215,000 units once fully ramped with R2s.
The company is advancing its in-house autonomy platform, having launched Universal Hands-Free (UHF) in late 2025 covering 3.5 million miles in the U.S., and plans to introduce a point-to-point system to customers by the end of 2026. The R2 will feature the new RAP1 chip, designed for L3 and personal Level 4 autonomy.
Rivian reported $1.6 billion in software and services revenue in 2025, with an anticipated growth of approximately 60% in 2026, partly driven by the $5.8 billion joint venture with Volkswagen Group and the launch of paid Autonomy Plus subscriptions in April 2026.
The company ended 2025 with $6.1 billion in cash and expects to receive an additional $2 billion from Volkswagen Group in 2026 to support its growth initiatives, including the build-out of the Georgia plant for mid-size platform production and international exports.

5 days ago

Transcript

Rivian Outlines R2 Launch, Autonomy Roadmap, and Financial Strategy at Morgan Stanley Conference

RIVN

Product Launch

New Projects/Investments

Guidance Update

Rivian is launching its R2 vehicle in 2026, which is expected to drive scale, growth, and profitability, with a goal to achieve positive gross profit margins for R2 and positive automotive gross profit for Rivian by the end of 2026.
The company is advancing its in-house autonomy platform, including the launch of its Universal Hands-Free (UHF) system in late 2025 and plans to introduce a point-to-point system to customers in 2026. Rivian's new RAP1 chip, designed for R2, is expected to be the most powerful automotive computer in the market.
Rivian reported $1.6 billion in software and services revenue in 2025 and anticipates approximately 60% growth in 2026, partly driven by the launch of paid Autonomy+ subscriptions in April 2026.
The company ended 2025 with $6.1 billion in cash and expects to receive an additional $2 billion from the Volkswagen Group joint venture in 2026 to support its growth initiatives.

5 days ago

Transcript

Rivian Discusses R2 Launch, Autonomy Roadmap, and Financial Outlook at Morgan Stanley Conference

RIVN

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Rivian's R2 program is a pivotal launch targeting a larger addressable market, with the Normal, Illinois plant capable of producing over 215,000 units once R2 is fully ramped, and the company aims for positive gross profit margins by the end of 2026.
Rivian is developing in-house autonomy technology, including the RAP1 chip for R2 by the end of 2026, designed for L3 and personal Level 4 autonomy, and plans to launch its point-to-point system to customers in 2026.
The company ended 2025 with $6.1 billion in cash and expects to receive $2 billion from the Volkswagen Group in 2026 as part of their $5.8 billion joint venture.
Software and services revenue was $1.6 billion in 2025 and is projected to grow by approximately 60% in 2026, with paid Autonomy Plus subscriptions starting in April 2026.

5 days ago

Transcript

Rivian Provides Updates on R1 Cost Reduction, R2 Launch, VW Partnership, and Financial Outlook

RIVN

Product Launch

Guidance Update

New Projects/Investments

Rivian achieved a $7,000 reduction in cost of goods sold per unit for the R1 in Q4 2025 compared to Q4 2024, resulting in over $2,000 cash per unit.
The R2 is scheduled for first external deliveries in Q2 2026, with production ramping to a second shift in Q4 2026, and is projected to contribute to positive overall automotive gross profit by the end of 2026.
The company expects to receive $2 billion from Volkswagen Group in 2026 and an additional $500 million in equity in 2027, as part of the remaining $2.5 billion consideration from their joint venture.
Rivian ended 2025 with $6.1 billion in cash and anticipates a $4 billion cash burn from adjusted EBITDA and CapEx in 2026, offset by VW payments and potential project-based finance for the Georgia site.
Vertical construction at the Georgia manufacturing site is planned for 2026, with initial vehicle builds expected by the end of 2028.

7 days ago

Transcript

Rivian Provides Updates on R2 Launch, Cost Reductions, and VW Partnership

RIVN

Guidance Update

Product Launch

New Projects/Investments

Rivian achieved a $7,000 reduction in cost of goods sold per R1 unit delivered in Q4 2025 versus Q4 2024, resulting in over $2,000 per unit cash profit.
The R2 model will begin external deliveries in Q2 2026, with production scaling to a second shift in Q4 2026, and the company projects both R2 and overall automotive gross profit to be positive by the end of 2026.
Rivian expects to receive $2 billion from Volkswagen Group in 2026 (including $1 billion for winter testing and a $1 billion non-recourse loan), with an additional $0.5 billion in equity in 2027, totaling $2.5 billion in remaining consideration.
The company ended 2025 with $6.1 billion in cash and anticipates burning an additional $4 billion from adjusted EBITDA and CapEx in 2026, alongside working capital outflows for the R2 ramp.
Rivian's new Gen 3 hardware, featuring the Rivian Autonomy Platform (RAP1) chip and lidar, will be integrated into vehicles by the end of 2026, with R2 volumes scaling up with this technology in 2027.

7 days ago

Transcript

Rivian Provides Updates on R1 Cost Reductions, R2 Launch, VW Partnership, and Financial Outlook

RIVN

Product Launch

Guidance Update

New Projects/Investments

Rivian achieved a $7,000 reduction in cost of goods sold per R1 unit in Q4 2025 compared to Q4 2024, making over $2,000 per unit on a cash basis in Q4 2025.
The company projects positive overall automotive gross profit by the end of 2026, with R2 external deliveries commencing in Q2 2026 and a second production shift for R2 starting in Q4 2026.
Rivian expects to receive $2 billion from Volkswagen Group in 2026, including $1 billion for successful winter testing and a $1 billion non-recourse loan, with an additional $0.5 billion in equity in 2027.
The Georgia manufacturing site is slated for vertical construction in 2026, with initial vehicle builds projected for the end of 2028.
Rivian ended 2025 with $6.1 billion in cash and anticipates increased delivery van volumes to Amazon in 2026, building on the approximately 30,000 vans already deployed.

7 days ago

Transcript

Rivian Automotive, Inc. reports Q4 and Full Year 2025 results and provides 2026 guidance

RIVN

Earnings

Guidance Update

Product Launch

Rivian achieved its first full year of positive gross profit in 2025, with a greater than $1.3 billion improvement in full-year gross profit. For Q4 2025, consolidated revenues were approximately $1.3 billion, with a consolidated gross profit of $120 million and a 9% gross profit margin. Adjusted EBITDA losses improved by $137 million from Q3 2025 to -$465 million.
The company expects to deliver between 62,000-67,000 total vehicles in 2026 across R1, R2, and commercial vans, with R2 customer deliveries starting in Q2 2026. Rivian anticipates R2 and overall automotive gross profit to be positive as it exits 2026.
Rivian ended 2025 with approximately $6.1 billion in cash, cash equivalents, and short-term investments. It expects to receive an additional $2 billion of capital in 2026 from its joint venture with the Volkswagen Group , which contributed $273 million (approximately 60%) of software and services revenue in Q4 2025.
In Q4 2025, the R1S was the best-selling premium electric vehicle priced above $70,000 in California, New York, New Jersey, Oregon, Virginia, and Washington, D.C., and the best-selling SUV, EV or non-EV, over $70,000 in California.

Feb 12, 2026, 10:00 PM

Transcript

Rivian Reports Q4 2025 Results and Provides 2026 Guidance

RIVN

Earnings

Guidance Update

Product Launch

Rivian reported consolidated revenues of approximately $1.3 billion for Q4 2025 and achieved its first full year of positive gross profit in 2025, with an improvement of greater than $1.3 billion.
For 2026, the company expects to deliver between 62,000-67,000 total vehicles across R1, R2, and commercial vans, with 9,000-11,000 deliveries per quarter in the first half.
Customer deliveries of the R2 mass market vehicle are anticipated to commence in Q2 2026, and the company expects R2 and overall automotive gross profit to be positive by Q4 2026.
Rivian ended 2025 with approximately $6.1 billion in cash, cash equivalents, and short-term investments, and expects to receive an additional $2 billion from the Volkswagen Group in 2026.
The company forecasts an Adjusted EBITDA loss of $2.1 billion-$1.8 billion for 2026 and capital expenditures between $1.95 billion-$2.05 billion.

Feb 12, 2026, 10:00 PM

Transcript

Rivian Reports Q4 2025 Results and Provides 2026 Outlook

RIVN

Earnings

Guidance Update

Product Launch

Rivian reported Q4 2025 consolidated revenues of $1.3 billion and achieved its first full year of positive gross profit in 2025, with an improvement of over $1.3 billion.
In Q4 2025, the company produced 10,974 vehicles and delivered 9,745 vehicles.
For 2026, Rivian expects total vehicle deliveries of 62,000-67,000 and an adjusted EBITDA loss between $2.1 billion and $1.8 billion.
Customer deliveries of the new mass-market R2 vehicle are set to begin in Q2 2026, with the company anticipating R2 and overall automotive gross profit to be positive by the end of 2026.
Rivian concluded 2025 with approximately $6.1 billion in cash, cash equivalents, and short-term investments and expects an additional $2 billion from its Volkswagen Group joint venture in 2026.

Feb 12, 2026, 10:00 PM

Transcript

Rivian Reports Fourth Quarter and Full Year 2025 Financial Results

RIVN

Earnings

Guidance Update

Product Launch

Rivian reported a consolidated gross profit of $120 million for the fourth quarter of 2025 and $144 million for the full year 2025, marking a greater than $1.3 billion improvement compared to full year 2024.
Consolidated revenues for Q4 2025 were $1,286 million, while full year 2025 consolidated revenues reached $5,387 million.
The company delivered 9,745 vehicles in Q4 2025 and 42,247 vehicles for the full year 2025.
Software and services revenue experienced significant growth, increasing 109% year-over-year to $447 million in Q4 2025 and 222% year-over-year to $1,557 million for the full year 2025, primarily driven by the joint venture with Volkswagen Group.
Customer deliveries for the R2 are expected in the second quarter of 2026, and Rivian anticipates delivering 62,000 - 67,000 vehicles in 2026.