AI Earnings Predictions for Rivian Automotive Inc. (RIVN)

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Rivian Releases Third Quarter 2026 Financial Results

•Generated $2.155 billion in revenue, a 38 percent increase year-over-year

•Deliveries up 46 percent year-over-year with R2 already the best-selling Rivian vehicle by volume, outselling both R1 and EDV in the third quarter

•Given Rivian’s strong performance, the company is improving 2026 guidance across all metrics

Irvine, California, October 29, 2026: Rivian Automotive, Inc. (NASDAQ: RIVN), an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and offers a suite of value-added services, today announced its third quarter 2026 financial results.

RJ Scaringe, Rivian Founder and CEO, said:

“We had great results with R2 becoming our best selling vehicle by volume in the third quarter. Customer and media feedback on R2 has been exceptional. Regarding our technology roadmap, our autonomy platform is progressing rapidly, and we are super excited about Point to Point. We are laying the foundations for a future that we believe will be fully electric, autonomous and AI defined. I could not be more excited about the opportunity ahead for Rivian.”

Business Highlights

Rivian achieved record production volumes in Normal, Illinois as it continued to ramp R2 manufacturing. The company had record deliveries of 19,248 units with R2 delivering much of the gain quarter-over-quarter. R2 is already the best-selling Rivian vehicle, outselling both R1 and EDV in the third quarter. R2 continues to generate rave reviews and awards from the media and recently won Top Gear’s SUV of the Year for 2027.

Rivian continues to innovate with software and AI. With the Rivian Assistant, Rivian has developed a smarter and more customizable AI-defined vehicle experience for R1 and R2 owners. In its October OTA (over-the-air) update, the company added Gmail integration to Rivian Assistant and released the annual “Halloween Mode.”

Rivian continues to see strong momentum in the company’s Autonomy+ offering, which is available on every R2 and R1 starting with the 2025 model year. Today, every vehicle with Autonomy+ is capable of Universal Hands-Free on millions of miles of roads. Rivian’s next milestone is the company’s Point to Point feature. This means customers will be able to enter an address while their vehicle follows the route from start to finish, handling city streets, stop lights, highway interchanges and everything in-between with driver supervision. A limited rollout of Point to Point is expected to begin later this year via the invitation-only Autonomy Early Access Program, with a general release to all Autonomy+ subscribers expected in 2027. Rivian believes Point to Point capabilities will be an important purchase criteria for customers and are becoming a driver of market share. Additionally, last week, Rivian announced the acquisition of Third Dimension AI to support its closed loop simulation efforts. The company will share more at its Autonomy and AI Day on December 9.

Third Quarter 2026 Results Summary

Production and Deliveries

•19,751 vehicles produced at Rivian’s manufacturing facility in Normal, Illinois.

•19,248 vehicles delivered to customers.

Revenues

•Consolidated revenue was $2.155 billion, a 38 percent increase over the same quarter of the prior year. This was driven by a 46 percent year-over-year increase in delivery volumes, $81 million in revenues related to regulatory credits, and strong performance from the company’s software and services segment.

◦Automotive revenue was $1.550 billion, a 36 percent increase over the same quarter of the prior year, primarily due to the increase in vehicle deliveries and an $80 million increase in revenues related to regulatory credits, which were partially offset by a decline in average vehicle selling price due to a higher mix of R2 and commercial van deliveries.

◦Software and services revenue was $605 million, a 45 percent increase over the same quarter of the prior year, primarily due to increases in vehicle electrical architecture and software development services, vehicle repair and maintenance services, and Autonomy+, partially offset by lower remarketing sales. $354 million or 59 percent of software and services revenue was attributable to the company’s joint venture with Volkswagen Group.

Gross Profit

•Consolidated gross profit was $176 million, a $152 million improvement over the same quarter of the prior year.

◦Automotive gross profit loss for the third quarter was $(80) million compared to $(130) million in the same quarter of the prior year, a $50 million improvement primarily resulting from increases in delivery volumes at an improved per unit margin, an increase in revenues related to regulatory credits, and an IEEPA tariff refund receivable, partially offset by costs related to the ramp of R2 production. In the quarter, Rivian recognized ap

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