Rivian raised its full-year delivery outlook Oct. 29, 2026, after its R2 sport utility vehicle became the company’s best-selling model by volume in the third quarter, advancing the electric vehicle maker’s effort to expand production.
The company now expects to deliver 67,000 to 70,000 vehicles in 2026, up from a range of 65,000 to 70,000. That increases the lower end of its forecast, not the upper end.
Higher volume, different profit measures
Revenue for the quarter ended Sept. 30 rose 38% to $2.155 billion. Rivian delivered 19,248 vehicles, up 46% from a year earlier, and said R2 outsold its R1 and commercial delivery vehicle models.
Investing.com reported that quarterly revenue exceeded analysts’ $1.99 billion estimate. The revenue comparison measures the business in dollars, rather than the number of vehicles delivered.
Consolidated gross profit increased to $176 million from $24 million. That figure combines businesses with different economics: the automotive segment recorded an $80 million gross loss, while software and services generated $256 million in gross profit.
Growth still requires cash
The loss attributable to common stockholders narrowed to $913 million from $1.173 billion. Free cash flow, a non-GAAP measure, was negative $1.124 billion, compared with negative $421 million a year earlier.
Rivian also lowered its annual capital expenditure outlook by $300 million at the midpoint, citing the timing of spending. That change is not the same as permanently eliminating those investment requirements.
For suppliers and operating partners, the results show a larger production business, but higher deliveries and positive consolidated gross profit do not establish overall profitability.