RIVN
Rivian Automotive, Inc.
Price as of Jul 20, 2026
RIVN earnings
Rivian Automotive, Inc. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.60 | $-0.55 | +8.3% | $1.4B | +0.9% |
| Feb 12, 2026 | $-0.69 | $-0.54 | +21.7% | $1.3B | -8.7% |
| Nov 4, 2025 | $-0.74 | $-0.70 | +5.3% | $1.6B | +3.2% |
| Feb 20, 2025 | $-0.69 | $-0.52 | +24.6% | $1.7B | +23.8% |
| Nov 7, 2024 | $-0.96 | $-1.03 | -7.7% | $874M | -11.9% |
| Feb 21, 2024 | $-1.39 | $-1.36 | +2.2% | $1.3B | +4.2% |
| Feb 28, 2023 | $-1.89 | $-1.73 | +8.5% | $1.7B | +165.3% |
| Nov 9, 2022 | $-1.78 | $-1.57 | +11.8% | $536M | -2.6% |
| Aug 11, 2022 | $-1.67 | $-1.89 | -13.2% | $364M | +8.5% |
| Mar 10, 2022 | $-1.58 | $-2.43 | -53.8% | $54M | -10.8% |
| Dec 16, 2021 | $-11.92 | $-7.68 | +35.6% | $1M | — |
| Mar 31, 2021 | — | $-0.57 | — | — | — |
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Started saleable R2 production in Normal, IL. R2's bill of materials expected to be ~half of R1 platform, non-bom COGS to reduce >50%. Key design changes include large die castings, structural battery pack, etc. - Partnered with US Dept of Energy to expand GA plant, increasing first phase capacity by 50% to 300k units annual. - Announced strategic partnership with Uber for autonomous vehicle goals. RAP1 chip development on track, expect point-to-point capabilities by end of year. - Launched Rivian Assistant on R1 and R2 vehicles.
Guidance
- Full-year deliveries expected 62,000-67,000. Q2 deliveries expected 9,000-11,000. - Adjusted EBITDA loss expected $2.1-$1.8B in 2026. - Capital expenditure guidance $1.95-$2.05B, related to R2 in Normal, sales/service/charging infrastructure, and GA plant construction. - Anticipate R2 ramp to positively impact automotive gross profit later in 2026.
Segment performance
Consolidated revenue in Q1 was ~$1.4B, up 11% y-o-y. Automotive revenue was $908M from producing 10,236 vehicles and delivering 10,365. Automotive gross profit loss was $62M vs $92M gross profit in same quarter last year. Software and services segment generated $473M revenue, +49% y-o-y, with $181M gross profit. $282M of software and services revenue was from joint venture with Volkswagen Group.
Risks & headwinds
- Economic and geopolitical conditions pose risks, including supply chain and international conflicts. - Macro and geopolitical factors create added complexity, cost, and uncertainty in managing supply chain risks and offsetting elevated costs.
Analyst Q&A
Q: Comment on mitigating commodity cost increase and metal price magnitude.
A: Sourcing team focused on supply chain, proactive in supplier relationships and alternative sources.
Q: DOE loan change.
A: $4.5B loan for GA facility expansion, initial capacity increased to 300k.
Q: IEPA tariffs.
A: Did not book reimbursements this quarter, but recovery possible in tens of millions.
Q: Uber R&D spend.
A: Cash R&D expense increased 22% in Q1, acceleration in autonomy spend throughout 2026.
Q: R2 order trends.
A: Positive reception of R2, journalists enthusiastic.
Q: Autonomy testing for L4.
A: Self-driving system architected end-to-end, data from R1 and R2 vehicles feeding large driving model.
Q: R1 demand with gas prices.
A: Encouraged by R1's premium category position, gas price impact on demand is a consideration.
Q: RoboTaxi KPIs with Uber.
A: Milestones include deploying vehicles in SF and Miami with safety driver this year.
Q: Autonomy penetration and adoption.
A: Bullish on autonomy, customers likely to value time back, adoption rate expected to grow.
Q: RoboTaxi partnership exclusivity and market tap.
A: Partnership with Uber for density, technology applicable to personal vehicles too.
Q: Autonomy tech licensing.
A: Centralized compute architecture and autonomy technology have licensing opportunities, e.g., Volkswagen ID.1 and autonomy platform.
Q: Uber funding milestones.
A: Milestone of operating vehicles in SF and Miami with safety driver this year unlocks $250M.
Q: Auto gross margin for Q2-Q3.
A: Anticipate impact from R2 ramp complexity, but expect positive automotive gross profit by end of 2026.
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-07-30.