Overview
- Rivian shares trade near $14, roughly 92% below the stock’s post-IPO peak of about $172.
- The company says its mass-market R2 is on track to debut in 2026, a release viewed as the crucial driver of future volume and margins.
- Rivian appears poised to report a full-year 2025 gross profit after turning gross-profitable in Q4 2024 and in two of the first three quarters of 2025.
- Despite progress on gross margin, the company remains loss-making, posting Q3 revenue of $1.56 billion, a $24 million gross profit, and a net loss of about $1.1 billion.
- Deliveries fell in 2025 versus 2024 and 2023, with the quarterly high of 15,564 from Q3 2023 still unmatched, while cash and short-term investments total roughly $7.0–$7.1 billion and recent share issuance has diluted holders.