Key Highlights

  • Total revenues were $2,155 million in the third quarter, compared with $1,558 million a year earlier.
  • Gross profit rose to $176 million from $24 million.
  • Deliveries increased 46% to 19,248 vehicles, and production rose 84% to 19,751.
  • Net loss per share narrowed to $0.63 from $0.96.
  • Total Liquidity stood at $6,095 million at September 30, 2026.

Revenue climbs as deliveries jump 46%

Rivian Automotive (NASDAQ:RIVN), an American automotive technology company that builds electric vehicles and a suite of software and services, filed its third quarter 2026 report on October 29, 2026. Total revenues were $2,155 million, up from $1,558 million, an increase of about 38% on a calculated basis.

Automotive revenues rose 36% to $1,550 million, driven by a 46% increase in deliveries to 19,248 vehicles and an $80 million increase in regulatory Credit revenues, partly offset by a lower average selling price as R2 and commercial van mix rose.

Automotive losses narrow while R2 ramp costs weigh

Automotive Gross Profit was a loss of $80 million, improved from a loss of $130 million. The company cited higher volumes at a better per-unit margin, credit Revenue and a refund receivable for certain tariffs imposed under the International Emergency Economic Powers Act, partly offset by R2 ramp costs. Deliveries of R2, a midsize SUV, began in the second quarter of 2026.

Rivian said the R2 ramp added approximately $120 million of incremental cost of revenues in the quarter, as fixed costs are spread across volumes below plant capacity. It expects gross profit losses to keep improving per vehicle as R2 production rises over the next several quarters.

Software and services Supply the profit

Software and services revenues rose 45% to $605 million, while gross profit increased 66% to $256 million. The company pointed to electrical architecture and software development services provided by its joint venture with Volkswagen Group, vehicle repair and maintenance, and its Autonomy+ paid offering, which began charging in April 2026.

Consolidated gross profit was $176 million versus $24 million a year earlier, so on a calculated basis the software and services profit more than covered the automotive loss.

Operating loss and per-share result improve

Research and development expenses rose 7% to $485 million. Selling, general and administrative expenses grew 3% to $572 million. The loss from operations narrowed to $881 million from $983 million.

Net loss attributable to common stockholders was $913 million, or $0.63 per share, compared with $1,173 million, or $0.96. Weighted-average shares rose to 1,446 million from 1,220 million. For the nine months, net loss attributable was $2,162 million versus $2,835 million, helped by a $506 million gain on deconsolidation of Mind Robotics.

Funding sources lift liquidity to $6,095 million

Cash and cash equivalents were $3,509 million and short-term investments were $1,993 million, with $593 million available under the asset-based lending facility. Net cash used in Operating Activities for the nine months was $1,948 million, compared with $98 million a year earlier.

Financing inflows were $2,646 million, including approximately $1.317 billion of net proceeds from a July 2026 share offering, $1.0 billion from Volkswagen Group and $300 million from Uber Technologies (NYSE:UBER). On October 7, 2026, the joint venture term loans were funded in the full committed amount of $1.0 billion.

What to watch next

Rivian expects an additional $460 million in Equity investments from Volkswagen Group, subject to milestones, and up to $950 million from Uber across four remaining milestones. Its amended Department of Energy Loan Facility for the Stanton Springs North Facility carries conditions that include positive gross Margin for certain periods before the first advance.

Readers will likely track whether R2 volumes lower per-vehicle losses, how software and services gross profit grows, and whether those funding conditions are met.