Electric vehicle manufacturer Rivian Automotive exceeded Wall Street fourth-quarter expectations while forecasting a major increase in deliveries for the coming year.
The company reported an adjusted loss per share of 54 cents, outperforming expectations for a 68-cent loss alongside revenue of $1.29 billion.
Shares jumped more than 20% in premarket trading after investors reacted positively to the guidance and improving operational indicators.
Chief executive RJ Scaringe described the company’s recent progress as foundational while suggesting the next phase will reshape the Business trajectory.
He said 2026 will represent “an inflection point” following groundwork laid during the previous year.
• Revenue beat analyst expectations
• Loss smaller than forecast
• Shares rose strongly after results
R2 Platform Expected To Drive Demand
Rivian Automotive expects deliveries between 62,000 and 67,000 vehicles in 2026, representing growth of roughly 47% to 59% compared with last year.
Much of that increase is projected to come from the new R2 midsize SUV scheduled to launch in the second quarter.
Scaringe said the model should become the “majority of the volume” of the company by the end of 2027.
The vehicle will initially be produced using a single shift at the Normal, Illinois factory before expanding to two shifts later in the year.
Priced near $45,000, the R2 aims to reduce material costs and simplify manufacturing compared with Rivian’s premium R1 lineup.
Demand for the R1 pickup and SUV has slowed as higher-priced electric vehicles face a tighter consumer market.
• Deliveries projected up to 67,000 units
• R2 expected to dominate volume by 2027
• Lower price designed to broaden appeal
Profitability Still Years Away
Despite stronger revenue, Rivian warned it will continue to lose money as it scales production and invests heavily in new platforms.
The company expects adjusted pre-tax losses between $1.8 billion and $2.1 billion this year with capital expenditures near $2 billion.
Rivian recorded a $3.6 billion net loss last year though this improved from a $4.75 billion loss previously.
It also posted its first annual gross profit of $144 million helped by a software and services joint venture with Volkswagen.
Chief financial officer Claire McDonough described the current year as a transition period while production ramps for the new model.
The company ended the quarter with $6.59 billion in liquidity including about $6.1 billion in cash and investments.
• Losses expected to continue during expansion
• First gross profit achieved in 2025
• Strong liquidity supports development