Rivian boosts revenue and delivery guidance

By Jennifer Collins 01/11/2026 2 min read 11 views

Rivian Automotive reported third quarter 2026 revenue of $2.16 billion, a 38% increase from the same period last year. The company’s deliveries rose 46% year-over-year, with 19,248 vehicles delivered during the quarter.

Rivian produced 19,751 vehicles at its Normal, Illinois facility. Automotive revenue increased 36% to $1.55 billion. This increase was driven by higher vehicle deliveries and an $80 million increase in revenue from regulatory credits.

The company’s software and services revenue grew 45% to $605 million. $354 million of that total came from its joint venture with Volkswagen Group. Rivian’s loss from operations improved to $881 million from $983 million in the same quarter last year.

Net loss attributable to common stockholders narrowed to $913 million from $1.17 billion. Adjusted net loss per share improved to $0.48 from $0.65. Consolidated gross profit reached $176 million, up by $152 million from the same quarter a year earlier.

Rivian’s automotive performance was affected by R2 production ramp costs. About $120 million in incremental cost of revenues was recognized in the quarter. They raised their delivery guidance for 2026 to 67,000-70,000 units, up from 65,000-70,000 units.

Rivian received $300 million from Uber in May 2026 under a subscription agreement. The company can receive up to an aggregate of $950 million across remaining milestones, subject to conditions. RJ Scaringe, Rivian’s founder and CEO, said the company had great results with R2 becoming its best-selling vehicle by volume in the third quarter.

Regarding its technology roadmap, Rivian’s autonomy platform is progressing rapidly. The company is excited about Point to Point. Scaringe stated that they are laying the foundations for a future that will be fully electric, autonomous, and AI-defined.

Net cash used in operating activities was $758 million, compared with $26 million provided a year earlier. Rivian said this was primarily due to working capital, including lower deferred revenues and higher inventory purchases linked to the R2 launch. Adjusted EBITDA guidance improved by $100 million at the mid-point and capital expenditure guidance was reduced by $300 million at the mid-point. Automotive gross loss narrowed to $80 million from $130 million, while software and services gross profit increased to $256 million from $154 million.