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

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.

Feb 12, 2026, 9:03 PM

Press Release

Rivian Announces Fourth Quarter and Full Year 2025 Financial Results

RIVN

Earnings

Guidance Update

New Projects/Investments

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 more than $1.3 billion improvement compared to full year 2024.
In Q4 2025, the company produced 10,974 vehicles and delivered 9,745 vehicles. For the full year 2025, Rivian produced 42,284 vehicles and delivered 42,247 vehicles.
Consolidated revenues for Q4 2025 were $1,286 million, a decrease from $1,734 million in Q4 2024, while full year 2025 consolidated revenues increased 8 percent year-over-year to $5,387 million from $4,970 million in 2024.
For 2026, Rivian provided guidance anticipating 62,000 to 67,000 vehicle deliveries, Adjusted EBITDA between $(2.10) billion and $(1.80) billion, and Capital Expenditures between $1.95 billion and $2.05 billion.
Customer deliveries of the R2 are expected to begin in the second quarter of 2026, and the company highlighted increased software and services revenue from its joint venture with Volkswagen Group.

Feb 12, 2026, 9:01 PM

8-K

Rivian Meets 2025 Guidance, Q4 Deliveries Fall

RIVN

Guidance Update

Product Launch

Demand Weakening

Rivian produced 10,974 vehicles and delivered 9,745 in Q4 2025, bringing full-year production to 42,284 and deliveries to 42,247, which met its revised annual guidance.
Q4 deliveries fell sharply year-over-year, and full-year deliveries declined about 18% from 2024, raising inventory and demand concerns as production outpaced deliveries in Q4.
The company faces material profitability and liquidity challenges, including negative operating and net margins, a thin gross margin of roughly 3.33%, and a weak Altman Z-Score.
Rivian plans to launch a lower-priced R2 SUV in early/first-half 2026, targeting a $45,000 mass-market price, with the R2 program expected to support annual capacity of up to about 155,000 units.
Rivian's market capitalization is reported at about $24.16 billion, with trailing-12-month revenue of $5.835 billion. The company has scheduled its Q4 and full-year 2025 results release for February 12, 2026.

Jan 2, 2026, 1:37 PM

Morningstar

Rivian Announces Q4 and Full Year 2025 Production and Delivery Figures and Earnings Release Date

RIVN

Earnings

Guidance Update

Rivian produced 10,974 vehicles and delivered 9,745 vehicles in the fourth quarter of 2025.
For the full year 2025, the company produced 42,284 vehicles and delivered 42,247 vehicles.
Both the fourth quarter and annual figures were in line with Rivian's expectations.
Rivian will release its fourth quarter and full year 2025 financial results on February 12th, 2026.

Jan 2, 2026, 1:30 PM

Press Release

Rivian Announces Q4 and Full Year 2025 Production and Delivery Figures and Financial Results Release Date

RIVN

Earnings

Guidance Update

Rivian Automotive, Inc. reported Q4 2025 production of 10,974 vehicles and deliveries of 9,745 vehicles.
For the full year 2025, Rivian produced 42,284 vehicles and delivered 42,247 vehicles, with both quarterly and annual figures aligning with the company's expectations.
The company is scheduled to release its fourth quarter and full year 2025 financial results on February 12, 2026, after market close.

Jan 2, 2026, 1:29 PM

8-K

Rivian Unveils Custom Silicon and Next-Gen Autonomy Platform

RIVN

Product Launch

New Projects/Investments

Rivian announced its proprietary, purpose-built silicon (RAP1) and third-generation Autonomy computer (ACM3), which features 1600 sparse INT8 TOPS.
The Gen 3 Autonomy hardware, including ACM3 and LiDAR, is expected to ship on R2 models starting at the end of 2026.
Software advancements include Universal Hands-Free (UHF) for second-generation R1 vehicles, covering over 3.5 million miles of roads in the USA and Canada, and the Autonomy+ subscription launching in early 2026 for $2,500 (one-time) or $49.99 (per month).
Rivian is also integrating AI across its business with Rivian Unified Intelligence (RUI) and plans to launch the Rivian Assistant voice interface in early 2026 on Gen 1 and Gen 2 R1 vehicles.

Dec 11, 2025, 5:20 PM

Press Release

Rivian Unveils Advanced AI and Autonomy Platforms and Features

RIVN

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Rivian is adopting an AI-centric approach across its vehicles and business operations, utilizing a "data flywheel" from its deployed fleet to continuously enhance its large driving model.
The company launched its Gen 2 R1 vehicles in mid-2024 with a 10x improved inference platform, and plans to introduce a Gen 3 autonomy platform in late 2026 with R2 vehicles, featuring 65 megapixels of cameras, Lidar, and an in-house Rivian Autonomy Processor capable of 1,600 TOPS.
Rivian will significantly expand hands-free driving capabilities for R1 Gen 2 customers via an over-the-air update later this month, increasing coverage to over 3.5 million miles of roads in North America, with point-to-point capabilities rolling out starting in 2026, followed by Eyes-off and personal Level 4 autonomy.
The company is also launching the Rivian Assistant in early 2026 for all Gen 1 and Gen 2 customers, as part of its "Rivian Unified Intelligence" AI backbone designed to enhance in-vehicle experience and operational efficiency in manufacturing and service.