Rivian Q4 Highligths: Double Beat, R2 On Track For Q2, Delivery Guidance 62,000 To 67,000

Electric vehicle company Rivian Automotive (NASDAQ:RIVN) reported fourth-quarter financial results Thursday after market close.

Here are the key highlights.

Rivian Q4 Results

Rivian reported fourth quarter revenue of $1.29 billion, down from $1.73 billion in last year's fourth quarter. The revenue total beat a Street consensus estimate of $1.27 billion, according to data from Benzinga Pro.

The total included $839 million in automotive revenue, down 45% year-over-year. The decline came with a drop in regulatory credit sales, lower vehicle deliveries and a lower average sales price. The quarter saw $447 million in software and services revenue, up 109% year-over-year.

Rivian reported a loss of 54 cents per share, beating a Street consensus estimate of a loss of 68 cents per share.

The company had a consolidated gross profit of $120 million in the fourth quarter and $144 million for the full fiscal year, improving this figure by $1.3 billion compared to fiscal 2024.

Previously reported production and deliveries were 10,974 vehicles and 9,745 vehicles respectively for the fourth quarter. The company delivered 42,247 vehicles for the full fiscal year.

Full-year total revenue for Rivian was $5.39 billion, up 8% year-over-year.

"In 2025 we focused on execution as we laid the foundation for dramatically scaling our business," Rivian CEO RJ Scaringe said.

What's Next for Rivian

Rivian said the R2 vehicle remains on track for first customer deliveries in the second quarter of 2026.

"It's incredibly exciting to see the early strong reviews of the R2 pre-production builds, and we can't wait to get them to our customers next quarter," Scaringe said.

Rivian provided 2026 annual guidance to deliver 62,000 to 67,000 vehicles in 2026, up significantly from 2025.

The company sees adjusted EBITDA in a range of a loss of $2.1 billion to a loss of $1.80 billion for fiscal 2026, with capital expenditures of $1.95 billion to $2.05 billion for the full fiscal year.

Rivian also said it will provide additional product details on March 12, which include line-up details.

Rivian Stock Price Action

Rivian stock is up 16.6% to $16.30 in after-hours Thursday versus a 52-week trading range of $10.36 to $22.69.

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