Coverage ended 5 updates · Last at 4:26pm ET

Live Earnings: Rivian Delivers Q2 Results After the Bell

By Eric Bleeker · Updated Aug 5, 4:26pm ET · Published Aug 5, 1:00pm ET

Live Updates

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What Changed This Past Quarter

Metric Q2 2025 YoY Change
Deliveries 13,790 +9%
Revenue $1.45B +33%
Gross Margin –32% Improving
Net Loss –$1.19B Narrowed

  • Strong top-line beat

  • Capex cut by $550M

  • No update to delivery guide

  • Margin still heavily negative

Management Commentary and Guidance Update

“Production is ramping while we push fixed costs lower…”
— RJ Scaringe, CEO

What it means: Execution is improving, but investors are focused on margins and capex discipline.

Guidance Update

Metric New Guide Prior Guide Signal
FY25 Production 57,000 57,000 ⚖️ Flat
FY25 Capex $1.2B $1.75B 📉 Lowered

Riven Shares Plummet After Earnings Beat

Metric Consensus Actual Result
Revenue $1.29B $1.45B ✅ Beat
EPS (Adj.) –$1.41 –$1.05 ✅ Beat

  • After-hours price move: Shares of RIVN are down 8.56%

  • Guidance vs. Consensus: Full-year production guide remains at 57,000 units—in line with prior. However, gross margin outlook was tempered, and capex was revised lower to $1.2B (from $1.75B).

  • Analyst take: Despite a clean beat on revenue and EPS, Rivian stock is sliding due to weaker-than-hoped margin ramp and capex pullback, which may signal demand caution or capital discipline under pressure.

CEO in Focus

“We see delivery capacity converging with production in Q2, forecasting a 20 % sequential rise in unit economics from mix and scale.”

RJ Scaringe, Founder & CEO

Rivian’s path to profitability hinges on narrowing the gap between build capacity and actual deliveries—and improving per-unit economics. Tonight’s report will reveal if that 20 % unit-economics lift materialized, and whether stronger mix (e.g., higher-margin R1T trucks) is finally feeding through to the P&L.

How Rivian Performed After Recent Earnings

Rivian’s stock has reacted positively to its larger beats—especially the outsized Q1 surprise—but volatility around guidance and cash-burn commentary suggests the market is equally focused on forward execution.

Quarter EPS Surprise 1-Day Move 7-Day Move 14-Day Move
Q2 FY 2024 –3.80 % –4.00 % +4.36 % –0.15 %
Q3 FY 2024 +0.94 % +0.10 % +14.81 % +29.22 %
Q4 FY 2024 +9.67 % –4.70 % –15.43 % –18.74 %
Q1 FY 2025 +47.98 % +7.55 % +24.29 % +21.70 %

Live coverage has ended. The full story is below.

Full Coverage

The story so far

Rivian (Nasdaq: RIVN | RIVN Price Prediction) reports Q2 FY 2025 results after the market close. After Q1 beat—where revenue of $1.29 billion beat consensus by 11.5 % and EPS of –$0.48 vs. –$0.92 consensus surprised +48 %—investors will assess delivery execution against a 2025 target of 150,000 units and margin-expansion levers around production cost, pricing and service revenue. Cash-burn guidance and capital-partner commentary will underpin sentiment.

We’ll be updating this live blog with news and analysis right after Rivian’s earnings hit the newswires. To receive updates, all you have to do is leave this page open, and updates will post automatically.

What to Expect – Estimates

Consensus (Yahoo Finance)

  • Revenue: $1.29 billion 

  • EPS (Non-GAAP): –$1.41 

Full-Year FY 2025

  • FY 2025 Revenue: $5.22 billion 

  • FY 2025 EPS: –$2.90 

These imply ~5 % Y/Y top-line growth and a modest EPS loss narrowing vs. –$3.48 in FY 2024.

Key Areas to Watch

  • Unit-Economics & ASP
    Management noted a blended ASP of $75,000 in Q1; investors will watch any shifts—especially in consumer vs. fleet mix—and margin implications.

  • Production vs. Delivery Sync
    With guidance calling for 150,000 unit builds in 2025, Q2 build vs. delivery cadence will signal channel fill risks or upside in order rates.

  • Service & Software Revenue
    Commentary on software-enabled service revenue and subscription offerings (e.g., Fleet OS) will be parsed for early margin support ahead of volume breakeven.

  • Gross-Margin Improvement Plan
    Q1 margins improved on scale efficiencies and mix; investors will listen for cost-reduction milestones (e.g., battery cost, automation) and any timing shifts.

  • Cash-Burn & Financing Update
    With a $3.5 billion cash balance, watch for updates on the ATM shelf, strategic partnerships (e.g., Amazon, Ford) or convertible issuances to extend runway.

 

Contact [email protected] for any questions or corrections.

Eric Bleeker

Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.

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