Rivian demonstrated strong progress in achieving a positive gross margin, launching successful products, and securing financial partnerships. However, challenges remain with demand uncertainties, supply chain constraints, and regulatory policy impacts. The company is strategically addressing these issues while focusing on growth and innovation.

Company Guidance

In the Rivian fourth quarter and full year 2024 earnings call, the company reported a positive gross margin for Q4, driven by a $31,000 reduction in cost of goods sold (COGS) per vehicle compared to the previous year. The automotive segment achieved a gross profit of $110 million with a 7% gross margin, while the software and services segment reported $60 million in gross profit, reflecting a 28% gross margin. Rivian produced 12,727 vehicles and delivered 14,183 vehicles, contributing to $1.5 billion in automotive revenue. The company also recognized nearly $300 million in regulatory credit revenue and anticipates a similar amount in 2025. Rivian's joint venture with Volkswagen Group is expected to generate approximately $2 billion in revenue over the next four years. For 2025, Rivian projects deliveries between 46,000 and 51,000 vehicles with modest full-year gross profit and an adjusted EBITDA loss ranging from $1.7 to $1.9 billion. Capital expenditures for 2025 are expected to be between $1.6 and $1.7 billion.

Positive Gross Margin Achieved

Rivian reported a positive gross margin for Q4 2024, driven by a reduction of $31,000 in COGS per vehicle compared to Q4 2023, an increase in revenue per unit to $86,000, and $300 million in regulatory credit revenue.

Successful Launches and Product Innovation

The introduction of the Tri-Motor version, particularly the Dune edition, saw higher than expected take rates. Rivian also received top safety pick plus ratings for both R1S and R1T vehicles, showcasing their commitment to safety.

Strong Financial Position and Joint Venture with Volkswagen

Rivian consolidated the financial results of its joint venture with Volkswagen, which is expected to generate approximately $2 billion in revenue over the next four years. The company also secured significant funding, increasing cash equivalents and short-term investments to $7.7 billion.

Software and Services Segment Growth

The software and services segment generated $214 million in Q4 2024, with a gross margin of 28%. The segment is expected to contribute significantly to Rivian's revenue, with projections of over $1 billion for 2025.

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Rivian Automotive (DE:99U) Earnings, Revenues Date & History

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DE:99U Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2025	2025 (Q1)	-0.72 / -	-1.184	―	―	―
Feb 20, 2025	2024 (Q4)	-0.65 / -0.46	-1.297	64.85% (+0.84)	―
Nov 07, 2024	2024 (Q3)	-0.91 / -0.93	-1.135	18.32% (+0.21)	―
Aug 06, 2024	2024 (Q2)	-1.18 / -1.20	-1.03	-16.20% (-0.17)	―
May 07, 2024	2024 (Q1)	-1.10 / -1.18	-1.192	0.64% (<+0.01)	―
Feb 21, 2024	2023 (Q4)	-1.29 / -1.30	-1.65	21.39% (+0.35)	―
Nov 07, 2023	2023 (Q3)	-1.28 / -1.13	-1.497	24.20% (+0.36)	―
Aug 08, 2023	2023 (Q2)	-1.36 / -1.03	-1.545	33.33% (+0.51)	―
May 09, 2023	2023 (Q1)	-1.55 / -1.19	-1.352	11.85% (+0.16)	―
Feb 28, 2023	2022 (Q4)	-1.87 / -1.65	-2.317	28.81% (+0.67)	―

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

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DE:99U Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 20, 2025	€13.20	―	―
Nov 07, 2024	€9.40	€9.50	+1.06%
Aug 06, 2024	€13.70	€12.60	-8.03%
May 07, 2024	€9.80	€8.75	-10.71%

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.

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