Rivian Q2 Earnings Report Beats Street’s Expectations
Rivian exceeded analysts’ expectations for revenue and raised its full-year production forecast based on early response to the R2, the company’s second vehicle.
The company began delivering the R2, the second vehicle line for the nascent EV maker. Based on the initial returns, officials are optimistic that the second half of the year will be strong. Rivian raised its full-year forecast to 65,000 to 70,000 vehicles — 3,000 vehicles higher on both ends of the prediction.
“This quarter we began external deliveries of R2. I believe R2 will be a game changer for our customers and a driver of Rivian’s long-term growth and profitability,” said RJ Scaringe, Rivian’s founder and CEO, said in a release.
“This quarter we also hosted over 57,000 demo drives, a Rivian record. The U.S. automotive marketplace is starved for high-quality EV choice, and I believe R2 is an attractively priced option for everyday adventures that will resonate with a broad set of consumers.”
In addition to the optimism about the impact of the new R2, the company reported revenue was up 27 percent to $1.66 billion. Much of that came from the company’s automotive business, which was up 23 percent through the second quarter.
The company recorded a gross profit of $179 million for Q2, a $385 million turnaround from the same period a year-ago. However, when examining just the automotive business, the numbers turn red with a $35 million loss, but also an improvement compared to last year. The company’s same period results were a loss of 335 million.
Strip out all of the credits and other offsets and the company’s net loss was $837 million, which is an improvement compared with the $1.12 billion loss from Q2 2025.
A third of the Rivian’s Q2 revenue, $515 million, good for a 37 percent jump, came from its software and services. That accounts for “increase in vehicle electrical architecture and software development services, vehicle repair and maintenance services, and Autonomy+, offset by lower remarketing sales. $308 million or 60 percent of software and services revenue was attributable to the company’s joint venture with Volkswagen Group.”
[Images: Rivian]
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Michael Strong has spent more than 25 years writing about the automotive industry. A Detroit-area native, he’s written about everything from local car shows to product reviews to financial news. Currently he writes and edits for a variety of national and local publications. He’s also a longtime member of the Automotive Press Association and the International Motor Press Association, and a graduate of Georgia Southern University. Hail Southern! Despite a love for ’70s land yachts and BMWs from the late ’80s and early ’90s, his personal vehicle is neither of those.
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I’m glad a startup company is making profits. I just don’t see how practical these EV’s are. You just can’t hop in and take a road trip across the states. My 09 C6 corvette is more practical I can fill it up and drive across the state or country and get 30 mpg highway as a comparison.
Boy, it's quite a stretch use the word "profitable" anywhere in a story about a company that reported a nearly $1 billion net loss. Unless it is preceded by the word "absolutely not".