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Rivian beats third-quarter estimates and lifts 2026 delivery guidance on R2 momentum

Rivian posted stronger-than-expected third-quarter financial results and raised its full-year delivery guidance, bolstered by surging demand for its new R2 SUV and a major liquidity boost.

Rivian logo in black and yellow against a white background
Image: @wallstengine

Rivian reported third-quarter 2026 revenue of approximately $2.16 billion, up 38% year over year and topping analyst expectations of around $1.99 billion. Wall St Engine reported an earnings loss per share of -$0.63 against an estimated -$0.84, while TrendSpider reported EPS of -$0.48 versus a -$0.72 estimate. Gross profit reached $176 million at an 8% gross margin, surpassing expectations of $110 million, while adjusted EBITDA came in at -$435 million compared to an estimated -$574 million.[1][2][3]

The automaker delivered 19,248 vehicles in the quarter—a 46% year-over-year increase—and produced 19,751 units. The R2 SUV was Rivian's best-selling vehicle by volume, helping drive automotive segment revenue to $1.55 billion, ahead of the $1.37 billion estimate. Software revenue climbed 45% year over year to $605 million, though it fell short of the $628.8 million expectation. Spurred by strong sales of the new model, Rivian lifted its fiscal 2026 delivery guidance to 67,000–70,000 vehicles from its previous 65,000–70,000 range, marking the second time this year it has improved delivery targets to Wall Street, according to TechCrunch.[2][3][4][5]

For the full fiscal year 2026, Rivian expects adjusted EBITDA of -$1.9 billion to -$1.8 billion and capital expenditures between $1.40 billion and $1.50 billion. Rivian ended the quarter with $5.5 billion in cash and short-term investments after posting -$1.12 billion in free cash flow. Liquidity was further strengthened by a $1.0 billion term loan from Volkswagen, bringing pro forma total available liquidity to $7.1 billion, alongside a $506 million gain tied to the Series A capital raise and deconsolidation of Mind Robotics.[2]

Key facts

  • Rivian reported third-quarter revenue of $2.16 billion, up 38% year over year and exceeding the $1.99 billion estimate.
  • The company narrowed its Q3 loss per share, beating consensus forecasts according to both Wall St Engine and TrendSpider.
  • Rivian raised its fiscal 2026 delivery outlook to 67,000–70,000 vehicles from an earlier projection of 65,000–70,000.
  • TechCrunch reported this represents the second delivery guidance increase Rivian has made this year, fueled by demand for its new EV.
  • Rivian delivered 19,248 vehicles in Q3, up 46% year over year, with the R2 serving as the company's best-selling model by volume.
  • Q3 gross profit came in at $176 million with an 8% gross margin, outperforming the $110 million estimate.
  • A $1.0 billion Volkswagen term loan brought Rivian's pro forma available liquidity to $7.1 billion, and the company recorded a $506 million gain from Mind Robotics.

Sources · 5 sources

  1. TR

    TrendSpider@TrendSpiderPost on X ·

    $RIVN SMASHED Q3 EARNINGS EPS: $(0.48) vs $(0.72) est ✅ Sales: $2.155B vs $1.984B est ✅ 🟩 +5.33% in after-hours https://t.co/gsV9Lz7NXi

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  2. WS

    Wall St Engine@wallstenginePost on X ·

    RIVIAN $RIVN Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.16B (Est. $1.99B) 🟢; +38% YoY 🔹 EPS: -$0.63 (Est. -$0.84) 🟢 🔹 Gross Profit: $176M (Est. $110M) 🟢 🔹 Adj. EBITDA: -$435M (Est. -$574M) 🟢 FY26 Guide: 🔹 Adj. EBITDA: -$1.9B to -$1.8B (Est. -$1.84B) 🟡 🔹 Deliveries: 67,000-70,000; from 65,000-70,000 🔹 CapEx: $1.40B-$1.50B Revenue by Segment: 🔹 Automotive: $1.55B (Est. $1.37B) 🟢; +36% YoY 🔹 Software: $605M (Est. $628.8M) 🔴; +45% YoY Other Q3 Metrics: 🔹 Deliveries: 19,248; +46% YoY 🔹 Production: 19,751 🔹 Gross Margin: 8% 🔹 Free Cash Flow: -$1.12B 🔹 Cash & ST Investments: $5.5B Key Updates: 🔹 R2: Best-selling Rivian vehicle by volume; 19,248 record deliveries 🔹 Regulatory Credits: $81M of revenue 🔹 Mind Robotics: $506M gain related to the Series A capital raise and deconsolidation 🔹 Volkswagen: $1.0B term loan; $7.1B total available liquidity pro forma Comments: 🔸 “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.”

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  3. BL

    Bloomberg@businessPost on X ·

    Rivian reported a smaller-than-expected loss and early momentum for its new R2 SUV, a positive sign for a model that’s critical to the electric vehicle maker’s profitability https://t.co/5AkrZbSbgq

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  4. TE

    TechCrunch@TechCrunchPost on X ·

    Rivian is seeing strong enough sales of the new EV that it improved its guidance to Wall Street for the second time this year. https://t.co/WsSXQfuxw3

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  5. CN

    CNBC@CNBCPost on X ·

    Rivian third-quarter earnings beat estimates as software revenue, R2 deliveries rise https://t.co/t4oYmY5uUT

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