Rivian Automotive

Rivian Automotive, Inc. (Rivian) is based in Irvine, California. It designs and makes electric vehicles: the R1 and R2 consumer vehicles and the Electric Delivery Van, which Amazon buys. It builds them in Normal, Illinois, and it is building a second plant, the Stanton Springs North Facility. It also sells software and services, such as vehicle electrical architecture and software development for its joint venture with Volkswagen Group, repair services and the Autonomy+ subscription.

Revenue was $2,155 million in Q3 2026, and Rivian delivered 19,248 vehicles. The company has a net loss. The Class A common stock trades on Nasdaq in US dollars. Rivian files 10-K and 10-Q reports.

The price of Rivian depends on whether the R2 can lift volume enough to turn losses into profit before the company needs much more capital. Deliveries grew 46% in Q3 2026 and the R2 was already the best-selling Rivian vehicle, but the automotive segment had a gross loss of $80 million and adjusted EBITDA was minus $435 million. Free cash flow was minus $1,124 million in Q3. In March 2026 Rivian said that it no longer expects positive adjusted EBITDA in 2027, because it spends more on autonomy.

It sold 86.25 million new shares in July 2026 and issued shares to Volkswagen Group and Uber, so shareholders were diluted. For the price to hold or rise, four things must be true. R2 production must keep rising with the second shift in Normal. The automotive gross profit must turn positive as the costs of the R2 ramp fall.

The DOE loan must fund the Stanton Springs North plant, with the first draw expected by early 2027. Software and autonomy revenue, with the Volkswagen Group joint venture and the Uber program, must keep growing. The Q4 2026 report, expected in February 2027, and the 2027 outlook are the next tests.

1. Jan 2027 · est.Pending

   2026 deliveriesRivian delivers 67,000 to 70,000 vehicles in 2026, as it guides, and this passes; fewer than 67,000 fails.
2. Feb 11, 2027 · est.Pending

   Q4 2026 results and 2027 outlook2026 adjusted EBITDA is minus $1.85 billion or better, as guided, and this passes; a larger loss fails.
3. Q1 2027 · est.Pending

   First DOE loan drawRivian makes the first draw on the DOE loan by the end of Q1 2027, and this passes; no draw by then fails.

Every passed and failed checkpoint across all picks

• October 29, 2026Rivian reported Q3 2026 results. Revenue rose 38% to $2,155 million, deliveries rose 46% to 19,248 and gross profit was $176 million. It raised 2026 delivery guidance to 67,000 to 70,000, improved adjusted EBITDA guidance to minus $1.85 billion to minus $1.75 billion and cut capital spending guidance to $1.40 billion to $1.50 billion.
• October 27, 2026The board appointed Derek Mulvey, Vice President of Finance, as Interim Chief Financial Officer from October 30, 2026. Claire McDonough, the Chief Financial Officer, had said in August 2026 that she would resign.
• October 7, 2026A $1,000 million 10-year loan from Volkswagen Group was funded through the joint venture, at a fixed rate of 6.03%.

Last earnings

October 29, 2026 (8-K on sec.gov)

Next earnings

Expected about February 11, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 29, 2026 · rivn-20260930
• 8-KEarnings release and Change of directors or officersFiled October 29, 2026 · Press release and exhibits
• 8-KNew debt or financial obligationFiled October 7, 2026 · rivn-20261007
• 8-KInvestor disclosureFiled October 2, 2026 · rivn-20261002
• 8-KChange of directors or officers and Investor disclosureFiled August 27, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 30, 2026 · rivn-20260630
• 8-KEarnings releaseFiled July 30, 2026 · Press release and exhibits
• 8-KOther company newsFiled July 9, 2026 · Read it on sec.gov
• 8-KEarnings releaseFiled July 6, 2026 · Press release and exhibits
• 8-KInvestor disclosureFiled July 2, 2026 · rivn-20260702

Every filing on SEC EDGAR (CIK 1874178)

• The company uses much cash. Free cash flow was minus $3,048 million for nine months of 2026, and the 10-Q says that Rivian expects to seek more equity or debt financing.
• The R2 ramp is costly. Rivian recorded about $120 million of extra cost of revenues in Q3 2026 for the ramp, and the automotive segment had a gross loss. A slower ramp would keep losses high.
• Shareholders can be diluted. The convertible notes can convert into 149 million shares, and options, stock awards and warrants cover 173 million more. Volkswagen Group and Uber can receive more shares when they invest.
• Government support for electric vehicles fell. The 30D and 45W tax credits changed for vehicles bought or leased after September 30, 2025, and revenue from regulatory credits can fall.
• The finance team changed. The Chief Financial Officer left on October 30, 2026, and an interim officer holds the role.

At September 30, 2026, Rivian had cash and cash equivalents of $3,509 million and short-term investments of $1,993 million, a total of $5,502 million. Debt principal was $4,475 million: $1,500 million of 4.625% green convertible notes due March 2029, $1,725 million of 3.625% green convertible notes due October 2030 and $1,250 million of 10% green secured notes due January 2031. Read more

Rivian Automotive does not pay a dividend.

Source: company filings and market data, read on November 12, 2026.