Rivian raises delivery forecast as R2 ramp supports quarterly results

Rivian (RIVN) shares rose 5% after hours as the company raised its full-year delivery outlook to 67,000–70,000 units and reaffirmed its partnership with Volkswagen. It also announced progress in its Amazon and Uber collaborations, including new electric delivery van variants and robotaxi plans. Rivian expects adjusted core losses of $1.75–1.85 billion and has $5.5 billion in cash. The stock has fallen 42% year-to-date.

Rivian expects to secure a $250M payment from Uber by year-end, tied to autonomous vehicle milestones. The R2 SUV led sales in Q3, with deliveries up 45% YoY. Q3 revenue rose 38% to $2.155B, but automotive operations remain unprofitable. Software services generated $256M profit. Rivian aims to launch cheaper R2 models starting in 2027.

Rivian reported Q3 2026 revenue of $2.155B, up 38% YoY, with R2 outselling R1 and EDV. Gross profit was $176M (8% margin). Management raised delivery guidance and expects R2 to drive Q4 volumes. Software & Services revenue grew 45% to $605M (42% margin). Rivian ended the quarter with $5.5B in liquidity and adjusted EBITDA loss guidance was improved by $100M at the midpoint.

Rivian CEO RJ Scaringe stated the company is on track to secure a $250 million Uber funding tranche by year-end, contingent on autonomy milestones. Demand for the R2 compact SUV is strong, with deliveries of 19,248 in Q3. The R2 outsold other models in its first full quarter. Costs per vehicle decreased by over $12,000 in Q3, though Rivian still incurs losses per car. The partnership with Volkswagen remains positive, with a low-cost EV for Europe planned for 2027.

Rivian (RIVN) reported Q3 revenue of $2.16B, beating estimates, and narrowed its adjusted loss. The company raised its full-year delivery forecast, driving a 7.2% after-hours stock price increase. According to Bloomberg, the consensus estimate was $2.02B.

Rivian reported 3Q 2026 revenue of $2.16B, up 38.3% YoY, with net loss narrowing to $913M. Vehicle deliveries rose 46% YoY, while software and services revenue grew 45%. The company expects per-vehicle losses to improve as production scales.