Electric vehicle company Rivian Automotive (NASDAQ:RIVN) reported third-quarter financial results Tuesday after market close.
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Here are the key highlights.
Q3 Results: Rivian reported consolidated revenue of $1.56 billion, up 78% year-over-year. The revenue total beat a Street consensus estimate of $1.50 billion, according to data from Benzinga Pro.
Automotive revenue totaled $1.14 billion in the quarter, up 47% year-over-year, with software and services revenue totaling $416 million, up 324% year-over-year.
The company reported a loss of 96 cents per share, missing a Street consensus estimate of a loss of 85 cents per share.
Rivian reported consolidated gross profit of $24 million for the third quarter.
Rivian previously reported third-quarter deliveries of 13,200 vehicles, up 32% year-over-year. The total beat a consensus estimate of 12,700 units. The company also reported third-quarter production of 10.7200 vehicles previously.
What's Next: The company maintained its previous vehicle delivery forecast of a range of 41,500 to 43,500 vehicles for 2025. The full-year delivery forecast was narrowed after third-quarter delivery figures were previously shared.
The company also guided for full-year adjusted EBITDA to be in a range of -$2.25 billion to -$2 billion.
Rivian said the R2 vehicle launch remains on track with deliveries set to begin in the first half of 2026. The company said it recently completed the construction of its R2 body shop and general assembly facility.
Rivian also announced it will host an Autonomy & AI day on Dec. 11, 2025.
"In Q3, we continued to make significant progress across our strategic priorities, which includes R2 and our technology roadmap," Rivian CEO RJ Scaringe said.
Scaringe said the company believes the automotive sector will be "fully electric, autonomous and software-defined" over the long term.
"We continue to believe that Rivian’s vertically integrated technologies and direct-to-customer ownership experience position our company to build a category-defining brand with a strong product portfolio for the U.S. and European markets."
RIVN Price Action: Rivian stock is up 4.08% to $12.50 in after-hours trading Tuesday versus a 52-week trading range of $9.50 to $17.14.
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Photo: Rivian R2 courtesy Rivian
