McDonough Claire sold $144K of RIVN

The article compares Rivian and Lucid after their 2021 IPOs, focusing on recent earnings. Lucid reported $405 million revenue in the quarter, with net loss widening to over $1 billion, and announced an “operational reset” tied to $1.4 billion cash savings in 2026, plus $3 billion liquidity. Rivian reported $1.66 billion revenue last quarter and raised 2026 delivery guidance to 65,000-70,000 vehicles.

Rivian Automotive held its Q2 earnings call, citing strong early demand for the R2 and narrowing automotive gross loss. Q2 revenue rose to $1.66B (+27% YoY), with automotive revenue $1.14B and automotive gross loss of $36M. Software and services revenue was $515M (+37%). Management raised 2026 delivery guidance to 65,000-70,000 and trimmed 2026 CapEx to $1.7-$1.8B at midpoint, while adjusted EBITDA loss remained large.

California launched “My First EV,” a rebate program for first-time buyers. New EVs under $50,000 get a $3,500 rebate, and used EVs under $25,000 via manufacturer pre-owned programs get $1,750. California Air Resources Board estimates $135 million funds about 73,000 sales, with 13 automakers matching. Tesla, Hyundai, and Lucid start Friday; others join by year-end.

Rivian began shipping its R2 electric SUV in the U.S. in early June, with a starting price of $57,990, and plans a lower-priced $45,000 version by end-2027. Uber said it will buy up to 50,000 R2 SUVs over the next few years and invest up to $1.25 billion in Rivian through 2031, contingent on autonomous milestones. Rivian expects 2026 deliveries of 65,000-67,000 after 42,247 in 2025.

Rivian Automotive (RIVN) reported Q2 2026 revenue of $1.66B, up 27% YoY, and an adjusted loss of $0.47 per share versus $0.65 expected. The company raised its 2026 delivery outlook to 65,000-70,000. Results relied on $103M YoY higher regulatory-credit revenue, while automotive gross profit remained negative; R2 ramp and credit absence are key risks for later 2026.

Rivian (RIVN) agreed in March to supply up to 50,000 autonomous R2 units to Uber (UBER) through 2030. Uber will invest up to $1.25 billion in Rivian through 2031, including $550 million this year, according to the deal terms. The partnership depends on Rivian training self-driving software and achieving autonomy.