Q3 25 EPS
$-0.96
MISS 11.73%
Est. $-0.86
Q3 25 Revenue
$1.56B
BEAT +3.00%
Est. $1.51B
vs S&P Since Q3 25
+10.2%
BEATING MARKET
RIVN +16.6% vs S&P +6.4%
Market Reaction
Did RIVN Beat Earnings? Q3 2025 Results
Rivian delivered a mixed but milestone-laden third quarter for fiscal 2025, posting revenue of $1.56 billion, beating the $1.51 billion consensus by 3.00% and surging 78.3% year-over-year, while earnings per share of -$0.96 missed the -$0.86 estimate… Read more Rivian delivered a mixed but milestone-laden third quarter for fiscal 2025, posting revenue of $1.56 billion, beating the $1.51 billion consensus by 3.00% and surging 78.3% year-over-year, while earnings per share of -$0.96 missed the -$0.86 estimate by 11.73% as litigation costs weighed on the bottom line. The headline story, however, was the company's first-ever positive consolidated gross profit of $24 million, a $416 million swing from a year ago, powered by the Volkswagen Group joint venture's $214 million revenue contribution and nearly $19,000 in per-vehicle cost reductions. The quarter's 13,201 deliveries, partly accelerated by customers purchasing ahead of expiring 45W tax credits, are expected to represent Rivian's peak for the year, with full-year guidance reaffirmed at 41,500 to 43,500 units and adjusted EBITDA of -$2.00 billion to -$2.25 billion. With R2 manufacturing validation builds slated for year-end and a Georgia facility groundbreaking already completed, Rivian's improving unit economics are beginning to frame a credible path toward scale.
Key Takeaways
- • 78% year-over-year consolidated revenue growth
- • First positive consolidated gross profit of $24 million, a $416 million improvement year-over-year
- • Nearly $19,000 reduction in automotive cost of revenues per vehicle delivered year-over-year
- • Increased average selling prices on vehicles
- • Volkswagen Group joint venture contributed approximately $214 million in software and services revenue
- • 37% gross margin in software and services segment
- • Accelerated vehicle purchases ahead of 45W tax credit expiration after September 30, 2025
- • Improved working capital from reducing raw materials, work in progress, and finished goods inventory levels
RIVN YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
RIVN Revenue by Segment
With YoY comparisons, source: SEC Filings
“In Q3, we continued to make significant progress across our strategic priorities which includes R2 and our technology roadmap. R2 delivers on the adventurous spirit customers expect from Rivian. It's also a great daily driver that will fit so many different use cases for our customers. Over the long term, we believe the automotive industry will be fully electric, autonomous and software-defined. We continue to believe that Rivian's vertically integrated technologies and direct-to-customer ownership experience position our company to build a category-defining brand with a strong product portfolio for the U.S. and European markets.”
— RJ Scaringe, Q3 2025 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% |