OpenNashEarnings

Automotive · Nasdaq: RIVN

Rivian earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 11 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Rivian generated $2.155 billion in revenue, a 38 percent increase year-over-year, with deliveries up 46 percent and a net loss attributable to common stockholders of $(913) million.

Rivian had record production and deliveries in the third quarter. It delivered 19,248 vehicles, up 46% from a year ago, and revenue was $2.155 billion, up 38%. The new R2 became its best-selling vehicle by volume. Gross profit was $176 million, with an 8% margin. The software and services segment earned $256 million of gross profit, while automotive had a gross loss of $(80) million. The net loss attributable to common stockholders narrowed to $(913) million, and free cash flow was $(1,124) million.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗

Quarters

KPI history

Revenue$2.2B+38.3% y/yQ3 2026
Q4 2024: $1.7B (worked out from the annual figure)Q4 ’24$1.7BQ1 2025: $1.2BQ1 ’25$1.2BQ2 2025: $1.3BQ2 ’25$1.3BQ3 2025: $1.6BQ3 ’25$1.6BQ4 2025: $1.3B (worked out from the annual figure)Q4 ’25$1.3BQ1 2026: $1.4BQ1 ’26$1.4BQ2 2026: $1.7BQ2 ’26$1.7BQ3 2026: $2.2BQ3 ’26$2.2B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$1.7B *
Q1 2025$1.2B
Q2 2025$1.3B
Q3 2025$1.6B
Q4 2025$1.3B *
Q1 2026$1.4B
Q2 2026$1.7B
Q3 2026$2.2B
Diluted EPS (GAAP)-$0.63+34.4% y/yQ3 2026
Q1 2025: -$0.48Q1 ’25-$0.48Q2 2025: -$0.97Q2 ’25-$0.97Q3 2025: -$0.96Q3 ’25-$0.96Q1 2026: -$0.33Q1 ’26-$0.33Q2 2026: -$0.63Q2 ’26-$0.63Q3 2026: -$0.63Q3 ’26-$0.63
Data
Q1 2025-$0.48
Q2 2025-$0.97
Q3 2025-$0.96
Q1 2026-$0.33
Q2 2026-$0.63
Q3 2026-$0.63

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin-40.9%+22.2 pts y/yQ3 2026
Q4 2024: -38.1%Q4 ’24-38.1%Q1 2025: -52.8%Q1 ’25-52.8%Q2 2025: -85.5%Q2 ’25-85.5%Q3 2025: -63.1%Q3 ’25-63.1%Q4 2025: -64.8%Q4 ’25-64.8%Q1 2026: -63.8%Q1 ’26-63.8%Q2 2026: -50.4%Q2 ’26-50.4%Q3 2026: -40.9%Q3 ’26-40.9%
Data
Q4 2024-38.1%
Q1 2025-52.8%
Q2 2025-85.5%
Q3 2025-63.1%
Q4 2025-64.8%
Q1 2026-63.8%
Q2 2026-50.4%
Q3 2026-40.9%
Free cash flow-$1.1B−167.0% y/yQ3 2026
Q4 2024: $856.0MQ4 ’24$856.0MQ1 2025: -$526.0MQ1 ’25-$526.0MQ2 2025: -$398.0MQ2 ’25-$398.0MQ3 2025: -$421.0MQ3 ’25-$421.0MQ4 2025: -$1.1BQ4 ’25-$1.1BQ1 2026: -$1.1BQ1 ’26-$1.1BQ2 2026: -$849.0MQ2 ’26-$849.0MQ3 2026: -$1.1BQ3 ’26-$1.1B
Data
Q4 2024$856.0M
Q1 2025-$526.0M
Q2 2025-$398.0M
Q3 2025-$421.0M
Q4 2025-$1.1B
Q1 2026-$1.1B
Q2 2026-$849.0M
Q3 2026-$1.1B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$1.7Bd$1.2B$1.3B$1.6B$1.3Bd$1.4B$1.7B$2.2B
Gross margin9.8%16.6%-15.8%1.5%9.3%8.6%10.8%8.2%
Operating income-$661.0Md-$655.0M-$1.1B-$983.0M-$833.0Md-$881.0M-$836.0M-$881.0M
Operating margin-38.1%-52.8%-85.5%-63.1%-64.8%-63.8%-50.4%-40.9%
Net income-$744.0Md-$545.0M-$1.1B-$1.2B-$811.0Md-$416.0M-$833.0M-$913.0M
Diluted EPS—-$0.48-$0.97-$0.96—-$0.33-$0.63-$0.63
Operating cash flow$1.2Bd-$188.0M$64.0Md$26.0Md-$681.0Md-$703.0M-$487.0Md-$758.0Md
Capital expenditure$327.0Md$338.0M$462.0Md$447.0Md$463.0Md$372.0M$362.0Md$366.0Md
Free cash flow$856.0M-$526.0M-$398.0M-$421.0M-$1.1B-$1.1B-$849.0M-$1.1B
R&D expense$374.0Md$381.0M$410.0M$453.0M$424.0Md$458.0M$466.0M$485.0M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings