Rivian Q3 Earnings Rise on R2, Software
Rivian Q3 earnings saw $2.155 billion in revenue as R2 and software climbed, and the company raised 2026 guidance, narrowing its near-term loss path.
KEY TAKEAWAYS
- Revenue rose to $2.155 billion as R2 volume and software drove growth.
- Software and services totaled $605 million, with $354 million from the Volkswagen joint venture.
- Company raised 2026 delivery guidance and narrowed adjusted-EBITDA loss range, trimming planned capex.
HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX
Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.
Rivian Automotive Inc. reported third-quarter 2026 results on Oct. 29, showing revenue rose to $2.155 billion as software sales and R2 deliveries increased. The company raised its 2026 delivery and adjusted-EBITDA guidance while reducing planned capital spending.
Quarterly Results and Drivers
Rivian published its third-quarter financial results at 4:02 p.m. ET on Oct. 29, furnishing the release as Exhibit 99.1 on Form 8-K. Revenue rose 38% year over year, driven by higher delivery volume, $81 million in regulatory-credit revenue, and strength in software and services.
Vehicle deliveries increased 46% to 19,248 units. The R2 became Rivian’s best-selling vehicle by volume, accounting for much of the quarter-over-quarter delivery growth. CEO RJ Scaringe said, "We had great results with R2 becoming our best selling vehicle by volume in the third quarter."
Software and services revenue climbed 45% year over year to $605 million, generating $256 million in gross profit, implying a 42% segment gross margin. Of that revenue, $354 million, or 59%, came from the Volkswagen joint venture.
Automotive revenue was about $1.55 billion, with the segment reporting a gross loss of $80 million. Consolidated gross profit rose to $176 million, up $152 million from the prior quarter. The adjusted EBITDA loss narrowed to $435 million from $602 million a year earlier.
Revised 2026 Outlook
Rivian raised its full-year 2026 vehicle-delivery guidance to 67,000–70,000 units from 65,000–70,000, citing expected fourth-quarter production and deliveries. The company narrowed its adjusted-EBITDA loss forecast to $1.75 billion–$1.85 billion, improving the midpoint by $100 million. It also cut planned capital expenditures to $1.4 billion–$1.5 billion from $1.7 billion–$1.8 billion, reducing the midpoint by $300 million.
The EBITDA revision reflected better-than-expected regulatory-credit revenue, an IEEPA tariff-refund receivable recorded in the quarter, and higher expected vehicle deliveries. Management said the R2 should support positive per-unit production economics this year. Rivian reported available liquidity of roughly $7.1 billion, including a credit facility and a $1.0 billion Volkswagen term loan received in October.
These guidance changes, combined with the R2 volume ramp and Volkswagen-related software contribution, narrow Rivian’s near-term loss trajectory and reduce planned capital intensity.
