Q1 26 EPS
$-0.54
Q1 26 Revenue
$1.38B
BEAT +0.94%
Est. $1.37B
vs S&P Since Q1 26
-6.8%
TRAILING MARKET
RIVN -6.8% vs S&P +0.0%
Market Reaction
Did RIVN Beat Earnings? Q1 2026 Results
Rivian Automotive delivered a stronger-than-expected first quarter for fiscal 2026, posting an adjusted loss of $0.54 per share against a consensus estimate of $0.72, a beat of 24.60%, while revenue of $1.38 billion edged ahead of the $1.37 billion f… Read more Rivian Automotive delivered a stronger-than-expected first quarter for fiscal 2026, posting an adjusted loss of $0.54 per share against a consensus estimate of $0.72, a beat of 24.60%, while revenue of $1.38 billion edged ahead of the $1.37 billion forecast and grew 11.4% year over year. The headline numbers were shaped by two opposing forces: a 20% jump in vehicle deliveries to 10,365 units and a 49% surge in Software and Services revenue to $473 million, offset by a $100 million drop in automotive regulatory credit sales that pushed the Automotive segment to a $62 million gross loss from $92 million profit a year ago. A $506 million gain tied to the Mind Robotics Series A deconsolidation helped narrow the GAAP net loss to $416 million, though on an adjusted basis the picture darkened, with EBITDA deteriorating to negative $472 million. Looking ahead, Rivian guided for 62,000 to 67,000 full-year deliveries as R2 external customer shipments begin imminently, with a Volkswagen-backed $1 billion equity infusion providing runway alongside $4.83 billion in cash on hand.
Key Takeaways
- • 20% year-over-year increase in vehicle deliveries to 10,365 units
- • 49% year-over-year increase in Software and Services revenue driven by RV Tech vehicle electrical architecture and software development services
- • $506 million gain from Mind Robotics Series A capital raise and deconsolidation reduced GAAP net loss
- • $100 million decrease in automotive regulatory credit sales negatively impacted automotive segment
- • Higher mix of commercial vans reduced automotive revenue per unit delivered
RIVN Forward Guidance & Outlook
For full-year 2026, Rivian expects vehicle deliveries of 62,000–67,000, adjusted EBITDA of negative $2.10 billion to negative $1.80 billion, and capital expenditures of $1.95 billion to $2.05 billion. The company expects to begin external customer deliveries of R2 in the coming weeks and anticipates significant fixed cost efficiencies over coming quarters as R2 production volume increases at the Normal plant. Georgia plant vehicle production remains on track for late 2028 with initial annual capacity of 300,000 units. Rivian expects the first advance on the $4.5 billion DOE loan in early 2027 and anticipates receiving a $300 million initial equity investment from Uber in Q2 2026 plus an additional $250 million later in 2026.
RIVN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
RIVN Revenue by Segment
With YoY comparisons, source: SEC Filings
“With the launch of R2, we are excited to dramatically expand our market opportunity and have more people driving Rivians. The support of the Department of Energy for the $4.5 billion loan to build our Georgia facility enables Rivian to grow American jobs and establish stronger U.S. technology and manufacturing leadership while further scaling our customer base.”
— RJ Scaringe, Q1 2026 Earnings Press Release
RIVN Earnings Trends
RIVN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RIVN EPS Trend
Earnings per share: estimate vs actual
RIVN Revenue Trend
Quarterly revenue: estimate vs actual
RIVN Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $-0.54 | — | $1.38B | +0.94% |
| Q4 25 BEAT FY | $-0.71 | $-0.66 | +7.04% | $1.29B | +2.14% |
| FY Full Year | $-3.20 | $-3.07 | +4.19% | $5.39B | +0.50% |
| Q3 25 MISS | $-0.86 | $-0.96 | -11.73% | $1.56B | +3.00% |
| Q2 25 MISS | $-0.78 | $-0.97 | -24.71% | $1.30B | +0.91% |
| Q1 25 BEAT | $-0.92 | $-0.48 | +47.98% | $1.24B | +21.59% |
| Q4 24 BEAT FY | $-0.77 | $-0.70 | +9.67% | $1.73B | +20.34% |
| FY Full Year | $-4.76 | $-4.69 | +1.41% | $4.97B | +6.27% |
| Q3 24 MISS | $-0.92 | $-1.08 | -17.39% | $874.0M | -11.68% |
| Q2 24 MISS | $-1.21 | $-1.46 | -20.66% | $1.16B | +2.33% |
| Q1 24 MISS | $-1.17 | $-1.48 | -26.50% | $1.20B | +3.49% |