Rivian Tops Estimates As R2 SUV Deliveries Begin
Rivian reported record gross profit and said software and services revenue helped offset ramp-up costs as it lifted full-year delivery guidance.
- On Thursday, July 30, 2026, Rivian Automotive reported Q2 revenue of $1.66 billion, beating analyst estimates of $1.51 billion, while confirming R2 SUV customer deliveries began on June 9.
- Manufacturing of the R2 is ramping up at the sole plant in Normal, Illinois, which has 160,000-vehicle annual capacity, with Rivian absorbing roughly $100 million in extra costs this quarter to bring the line up to speed.
- Automotive revenue reached $1.14 billion while software and services contributed $515 million, driving a record $179 million gross profit despite a net loss of $837 million for the quarter.
- Raising its full-year delivery forecast to 65,000–70,000 vehicles, Rivian added 3,000 units to its prior range and narrowed adjusted EBITDA loss guidance to $1.8 billion to $2.0 billion.
- Rivian expects $1 billion in non-recourse debt from Volkswagen and a $250 million equity investment from Uber Technologies Inc. later this year to support Georgia factory construction.
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