Rivian Automotive, Inc. Q1 2026 Financial Results

Rivian Automotive, Inc. announced its financial results for the first quarter ended March 31, 2026. The company reported consolidated revenue growth of 11% year-over-year, reaching $1,381 million. However, the automotive segment revenue decreased by 2% to $908 million, primarily due to a $100 million decrease in sales of automotive regulatory credits. The software and services segment revenue increased by 49% to $473 million. Consolidated gross profit was $119 million, a decrease from the previous year, with the automotive segment experiencing a gross profit loss of $62 million. Operating expenses increased to $1,000 million, leading to a loss from operations of $881 million. The net loss for the quarter was $416 million. Rivian also announced the start of production for its R2 vehicles and provided an updated outlook for 2026, expecting to deliver between 62,000 and 67,000 vehicles. The company secured a $1 billion investment from Volkswagen Group and announced a partnership with Uber for up to 50,000 R2 robotaxis.