Rivian third-quarter earnings beat estimates as software revenue, R2 deliveries rise — SkimNews
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- Rivian reported an adjusted loss of 48 cents per share, beating Wall Street's forecast of a 62-cent loss for the third quarter
- Rivian generated $2.16 billion in revenue, exceeding the expected $1.99 billion, driven by regulatory credit sales and R2 deliveries
- Rivian delivered a record 19,248 vehicles from July to September, with the R2 becoming its best-selling model and contributing significantly to quarter-over-quarter gains
- Rivian revised its 2026 pre-tax adjusted loss guidance to $1.75–$1.85 billion, a $100 million improvement at the midpoint from prior estimates
- Rivian's software and services segment earned $605 million in revenue with a 42% gross margin, contrasting with a $80 million gross loss in its automotive operations
- Rivian ended the quarter with $5.5 billion in cash and short-term investments, up from $5.3 billion in the previous quarter
- RJ Scaringe stated that R2 unit economics are improving and reiterated expectations for positive gross margin on the model by year-end
Why it matters: Rivian’s narrower losses and improved guidance signal progress toward profitability, with software now a high-margin contributor and the R2’s performance critical to closing the gap—investors gain clarity on the path to positive gross margin, while continued net losses underscore execution risk through 2026.
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