Companies /Consumer Cyclical
Rivian Automotive Inc - Class A
NASDAQ: RIVN Auto Manufacturers
$13.29
▲ $0.10 (+0.76%) today
Markets closed · 1:27am ET

Rivian (RIVN) Q2 2026 Earnings

Reported Jul 30, 2026, 4:01pm ET · SEC source
$-0.47
Beat +39.46%
EPS · est. $-0.78 Adjusted

Adjusted net loss per share excludes $0.17 per share of stock-based compensation and $(0.01) per share of other income. GAAP net loss per share was $(0.63). Q2 gross profit includes $108 million of regulatory credit revenue and an IEEPA tariff refund receivable (amount not disclosed). It also absorbed approximately $100 million in incremental R2 ramp costs.

$1.7B
Beat +5.60%
Revenue · est. $1.6B
+0.1%
Beating market
RIVN vs S&P since report
4 quarters
Consecutive EPS beats

How Did RIVN Stock React to Q2 2026 Earnings?

% change · around the report
−10%−5%0+5%Jul 30Jul 31report 4:01pm ETearnings+0.1%−8.2%
−10%−5%0+5%Jul 30Jul 31earnings+0.1%−8.2%
RIVN −8.2%S&P 500 +0.1%
−10%−5%0+5%Jul 30Jul 31report 4:01pm ETearnings−0.2%−8.2%
−10%−5%0+5%Jul 30Jul 31earnings−0.2%−8.2%
RIVN −8.2%NASDAQ −0.2%
−10%−5%0+5%Jul 29Aug 7report 4:01pm ETearnings+4.2%−6.8%
−10%−5%0+5%Jul 29Aug 7earnings+4.2%−6.8%
RIVN −6.8%S&P 500 +4.2%
−12%−6%0+6%Jul 29Aug 7report 4:01pm ETearnings+5.4%−6.8%
−12%−6%0+6%Jul 29Aug 7earnings+5.4%−6.8%
RIVN −6.8%NASDAQ +5.4%
−9.57%
Day of report
+0.89%
Next session
+5.12%
One week
+2.07%
30 days

S&P 500 over the same 30 days: +1.97%.

Did RIVN Beat Earnings? Q2 2026 Results

Yes. Rivian reported Q2 2026 earnings of $-0.47 a share on Jul 30, 2026, beating the $-0.78 consensus estimate by 39.5%. Revenue was $1.7B against a $1.6B estimate.

Rivian delivered a strong second-quarter beat to open its R2 era, with adjusted EPS of $-0.47 coming in well ahead of the $-0.78 consensus estimate, a 39.46% positive surprise, while revenue of $1.66 billion topped expectations by 5.60% and grew 27.2% year over year. The quarter's defining moment was the June 9 launch of external R2 deliveries, the company's lower-priced mid-size SUV, which CEO RJ Scaringe called a potential game changer for a U.S. market he described as starved for high-quality EV choice. Automotive gross losses narrowed sharply to $36 million from $335 million a year earlier, aided by $108 million in regulatory credit revenue, though roughly $100 million in incremental R2 ramp costs weighed on results. The Software and Services segment contributed $215 million in gross profit at a 42% margin, driven largely by the Volkswagen joint venture. Rivian raised its 2026 delivery outlook to 65,000 to 70,000 units and improved its adjusted EBITDA guidance by $50 million at the midpoint, while cutting capital expenditure forecasts by $250 million at the midpoint to $1.70 billion to $1.80 billion.

Key Takeaways
  • Deliveries up 14% year over year to 12,194; production of 12,613
  • $108 million in regulatory credit revenue; automotive regulatory credits up $103 million year over year
  • Software and Services revenue up 37% on vehicle electrical architecture and software development services for the Volkswagen JV
  • $308 million (60%) of Software and Services revenue attributable to the Volkswagen Group joint venture
  • IEEPA tariff refund receivable improved automotive gross profit
  • Approximately $100 million of incremental cost of revenues from the R2 production ramp
  • Lower average selling prices from a higher mix of commercial van and R2 deliveries
  • Inventory build for the R2 launch drove negative operating cash flow

“This quarter we began external deliveries of R2. I believe R2 will be a game changer for our customers and a driver of Rivian's long-term growth and profitability.”

Rivian CEO, on the earnings call

What Was Rivian's Outlook in Q2 2026?

Rivian raised its 2026 guidance: - **Vehicle deliveries:** 65,000–70,000, up 3,000 units, reflecting production and delivery progress and the second-half outlook. - **Adjusted EBITDA:** $(2.00)B–$(1.80)B, a $50M improvement at the midpoint. The company cited better-than-expected regulatory credit revenue and rising deliveries, partly offset by higher raw material, memory and logistics costs. - **Capital expenditures:** $1.70B–$1.80B, cut by $250M at the midpoint on project efficiencies and timing of spend. Other expectations: - Scale R2 to two shifts by the end of Q3. - Realize fixed cost efficiencies from shared production shops in Normal. - Roll out point-to-point assisted driving by year-end, with eyes-off targeted for 2027 and an L4 robotaxi for 2028. - Launch Rivian Assistant on R2 later this year. - Receive a $1B Volkswagen non-recourse loan and a $250M Uber equity investment later in 2026, both subject to conditions. - Make the first Department of Energy loan draw by early 2027.

RIVN YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$-700,000,000$0$700.0M$1.4B$1.3B$1.7BRevenue$62.4M$179.0MGross Profit$-669,014,085$-836,000,000Operating Income$-664,115,443$-833,000,000Net Income
$-700,000,000$0$700.0M$1.4BRevenueGross ProfitOperating IncomeNet Income
RIVN income statement, Q2 2026 versus Q2 2025
Metric Q2 2026 Q2 2025 Year over year
Revenue $1.7B $1.3B +27.2%
Gross Profit $179.0M $62.4M +186.9%
Operating Income −$836.0M −$669.0M +25.0%
Net Income −$833.0M −$664.1M +25.4%

RIVN Revenue by Segment

Automotive$1.1B+23.0%
Software and Services$515.0M+37.0%

Figures from SEC filings and company reports. Not investment advice.