Prime Highlights:
- Rivian beat Wall Street’s Q4 expectations, reporting $1.29 billion in revenue and smaller losses than expected.
- The company plans to boost vehicle deliveries to 62,000–67,000 units in 2026, driven by the launch of its new R2 SUV.
Key Facts:
- Rivian achieved its first annual gross profit of $144 million in 2025, helped by its partnership with Volkswagen.
- The company ended 2025 with $6.59 billion in liquidity, giving it a solid base to fund growth and production expansion.
Background:
Rivian Automotive saw its stock rise more than 15% in after-hours trading on Thursday after the electric vehicle maker beat Wall Street’s fourth-quarter expectations and announced plans for a major production increase in 2026.
The company expects to deliver between 62,000 and 67,000 vehicles this year, a 47% to 59% increase from 2025. The launch of its next-generation R2 SUV in the second quarter is expected to drive much of this growth. CEO RJ Scaringe said the R2 will become the majority of Rivian’s volume by the end of 2027, as production ramps up at its factory in Normal, Illinois.
Rivian reported adjusted Q4 losses of 54 cents per share, better than the expected 68 cents. Revenue came in at $1.29 billion, slightly above estimates of $1.26 billion.
Even with these gains, Rivian expects pre-tax losses of $1.8 billion to $2.1 billion in 2026 and plans to spend $1.95 billion to $2.05 billion on capital projects. CFO Claire McDonough described 2026 as a “transition year” as the company scales R2 production.
The new R2 SUV, priced around $45,000, aims to cut material costs in half, simplify production, and increase demand. Initially, production will run on one shift, expanding to a second shift later this year. Additional details, including pricing and options, will be announced on March 12.
Rivian continues to make its first-generation R1 pickup and SUV, as well as all-electric delivery vans, which are mainly bought by its largest shareholder, Amazon. The company finished 2025 with $6.59 billion in cash and other liquid assets, giving it a solid base to support growth.
Investors view Rivian’s results as a key sign of its move toward making a profit. 2026 will be an important year as the company boosts production and introduces the new R2 SUV.