Overview
- Revenue rose to about $1.56 billion with a $24 million gross profit and adjusted EPS of −$0.65, topping estimates.
- Rivian delivered 13,201 vehicles and produced 10,720 in Q3, a surge linked to buyers pulling purchases forward before the $7,500 EV credit expired.
- The company kept 2025 guidance: 41,500–43,500 deliveries, adjusted EBITDA loss of $2.0–$2.25 billion, and $1.8–$1.9 billion in capex.
- R2 midsize SUV progress includes installed body‑shop lines, equipment commissioning, validation builds expected by year‑end, and a first‑half‑2026 production start, with paint capacity lifted to 215,000 units.
- CFO Claire McDonough said tariff costs should drop from roughly $2,000 to a few hundred dollars per vehicle, while about $154 million from the Volkswagen JV and software/services offset an approximately $130 million automotive loss.