Rivian Shares Down on Wider Loss than Expected

Rivian Automotive Inc. reported second-quarter revenue rose 12% to $1.3 billion while recording a wider loss than analysts expected. 

Rivian reported a 97-cent loss per share, compared to 77 cents expected, according to Bloomberg average of analysts. Shares fell 4.4% to $11.62 during after-hours trading (Nasdaq: RIVN).  

Total revenue included $927 million in automotive sales, down from $1.1 billion last year, and $376 million in software and services sales, which was four times higher than in 2024 due to new EV architecture and software development.   

The Irvine-based automaker again maintained its 2025 delivery guidance range of 40,000 to 46,000. Rivian previously reported in July that it delivered 10,661 vehicles in the second quarter, compared to 13,790 delivered in the same period last year.  

Rivian said it is focused on preparations for the launch of its R2 electric vehicle in 2026.   

“This quarter we made significant progress in R2 development and testing,” Chief Executive RJ Scaringe said in a statement, adding that the expansion of its Normal, Illinois manufacturing site is “substantially” complete.   

The facility will be shut down for approximately three weeks in September to increase the manufacturing capacity, making more room for R2 production.