Rivian lifts 2026 delivery outlook as quarterly revenue climbs
Rivian reported third-quarter revenue of 2.155 billion dollars on 29 Oct, up 38 percent from a year earlier and above the 1.99 billion dollars analysts expected. Software and subscription services contributed 605 million dollars, up 45 percent. The company delivered 19,248 vehicles in the quarter, about 45 percent more than a year earlier, and now expects 2026 deliveries of 67,000 to 70,000. Its adjusted loss per share was 48 cents, narrower than the 62 cents expected, according to LSEG estimates. Shares rose about 7 percent in after-hours trading.
Key facts
- Software and services generated 256 million dollars in profit, up 102 million dollars from last year.
- The R2 SUV was Rivian's best-selling vehicle in the third quarter, according to the company.
- Rivian's 2026 pre-tax adjusted loss forecast is now 1.75 to 1.85 billion dollars.
- The 2026 capital expenditure forecast was lowered to 1.4 to 1.5 billion dollars.
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Why it matters
Narrower losses and higher delivery targets suggest progress in Rivian's push toward profitability for its electric vehicles.
What changed
First published from The Verge, TechCrunch and CNBC