Overview
- Rivian shares sit about 82% below their November 2021 IPO price, reflecting persistent skepticism around the business.
- Rivian has not reported full-year 2025 results, but the company appears on track for a gross profit after posting gross profit in Q4 2024 and in two of the first three quarters of 2025.
- Gross profit does not equal profitability on the bottom line, and the company remains unprofitable due to costs beyond manufacturing.
- The 2026 priority is the R2, a lower-priced mass-market model that would expand beyond Rivian’s high-end consumer vehicles and delivery trucks.
- Rivian holds roughly $7 billion in cash and short-term investments, supporting the R2 push, and the article suggests aggressive investors might buy before launch while others wait for customer reception.