The earnings call presented a mixed picture with significant achievements in R2 development and strategic partnerships, but also challenges such as negative automotive gross profit and high adjusted EBITDA losses. While the company is making strategic progress, financial challenges remain.

Company Guidance

During Rivian's third-quarter 2025 earnings call, the company reaffirmed its guidance for the year, projecting deliveries between 41,500 and 43,500 units. The adjusted EBITDA loss is expected to range from $2 billion to $2.25 billion, with capital expenditures forecasted between $1.8 billion and $1.9 billion. The company anticipates achieving a roughly breakeven gross profit for the full year of 2025. Rivian produced 10,720 vehicles and delivered 13,201 in the third quarter, generating $1.6 billion in consolidated revenues and a gross profit of $24 million. The automotive segment reported $1.1 billion in revenue despite a negative $130 million gross profit, impacted by low fixed-cost absorption due to planned shutdowns. The software and services segment generated $416 million in revenue, with a $154 million gross profit. Rivian ended the quarter with approximately $7.1 billion in cash and short-term investments and expects additional capital from its Volkswagen joint venture and a DOE loan.

R2 Development Progress

Construction of the 1.1 million square foot R2 Body Shop and General Assembly Building and the 1.2 million square foot Supplier Park and Logistics Center is complete. The R2 program is on track for launch with manufacturing validation builds beginning at year-end.

Strategic Partnership with Volkswagen

The joint venture with Volkswagen Group generated $416 million in revenue for the Software and Services segment, contributing $154 million in gross profit.

Strong Balance Sheet

Rivian ended the quarter with $7.1 billion in cash, cash equivalents, and short-term investments. Additional capital of up to $2.5 billion is expected from the Volkswagen joint venture and a $6.6 billion loan from the Department of Energy.

Vehicle Delivery and Production

Rivian produced 10,720 vehicles and delivered 13,201 vehicles in Q3, driving $1.1 billion in automotive revenue.

Rivian Automotive (RIVN) Earnings, Revenues Date & History

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RIVN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2026	2025 (Q4)	-0.69 / -	-0.478	―	―	―
Nov 04, 2025	2025 (Q3)	-0.74 / -0.66	-0.972	32.10% (+0.31)	―
Aug 05, 2025	2025 (Q2)	-0.65 / -0.80	-1.255	36.33% (+0.46)	―
May 06, 2025	2025 (Q1)	-0.77 / -0.41	-1.242	66.75% (+0.83)	―
Feb 20, 2025	2024 (Q4)	-0.68 / -0.48	-1.36	64.85% (+0.88)	―
Nov 07, 2024	2024 (Q3)	-0.96 / -0.97	-1.19	18.32% (+0.22)	―
Aug 06, 2024	2024 (Q2)	-1.24 / -1.25	-1.08	-16.20% (-0.17)	―
May 07, 2024	2024 (Q1)	-1.15 / -1.24	-1.25	0.64% (<+0.01)	―
Feb 21, 2024	2023 (Q4)	-1.35 / -1.36	-1.73	21.39% (+0.37)	―
Nov 07, 2023	2023 (Q3)	-1.34 / -1.19	-1.57	24.20% (+0.38)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RIVN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2025	$12.50	$15.42	+23.36%
Aug 05, 2025	$12.15	$11.64	-4.20%
May 06, 2025	$13.50	$12.72	-5.78%
Feb 20, 2025	$13.61	$12.97	-4.70%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.