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Rivian Q2 Revenue Rises 27% to $1.658 Billion as R2 Deliveries Begin

Rivian's second-quarter revenue rose 27% year-over-year to $1.658 billion. Gross profit turned positive at $179 million, and the operating loss narrowed. The company also began external deliveries of its lower-priced R2 SUV during the quarter.

Justin Jeon·July 31, 2026 at 09:08·Updated July 31, 2026 at 18:03·5 min read

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AIKey Summary

Rivian's Q2 revenue rose 27% YoY to $1.658 billion, and gross profit turned positive
Shares rose 3% after results beat Wall Street estimates and R2 SUV deliveries began

Rivian reported second-quarter revenue of $1.658 billion, up 27% year-over-year. Media outlets said the results beat market expectations, according to the company's SEC 8-K filing.

📊 Price at Time of Writing (July 31, 2026, 09:05 KST)
$16.83 ▲ +3.06%

Quarter at a Glance

Rivian's second-quarter revenue rose 27% year-over-year to $1.658 billion. Deliveries increased 14%, boosted by $108 million in regulatory credit revenue and growth in the software and services segment. Gross profit came in at $179 million, an improvement of $385 million from a year earlier.

Revenue: $1.658 billion, up 27% YoY
Gross profit: $179 million, up $385 million YoY
Operating loss: $836 million, narrowed from a $1.114 billion loss a year earlier
Net loss: $837 million, narrowed from $1.115 billion a year earlier
Earnings per share (EPS): Not specified in the filing; media reports said it beat estimates by 20 cents per share

Rivian began external customer deliveries of its midsize R2 SUV for the first time this quarter. Cash and cash equivalents stood at approximately $5.3 billion at quarter-end. In July, the company raised about $1.3 billion by issuing 86.25 million new shares. Rivian said it also expects to receive a $1 billion non-recourse loan from the Volkswagen Group and a $250 million equity investment from Uber later this year. Combined, the company said its available liquidity exceeds $14 billion.

Market Reaction

Following the earnings release, Rivian shares rose 3.06% to $16.83 as of the morning trading session. Reuters, Barron's, and StockStory all reported that revenue beat market expectations. Electrek noted a significant improvement in gross margin. Investing.com said earnings per share also topped estimates by 20 cents.

By Business Segment

Automotive segment revenue: $1.143 billion, up 23% YoY
Automotive segment gross loss: $36 million, narrowed from a $335 million loss a year earlier
Software and services segment revenue: $515 million, up 37% YoY. Of this, $308 million (60%) came from the joint venture with Volkswagen
Software and services segment gross profit: $215 million, a 42% margin

This article was automatically generated based on the original SEC 8-K filing and media reports, with the goal of quickly conveying key data immediately after the announcement. Readers are advised to review the company's official filing before making trading decisions. The stock price reflects the time of writing and may differ from the current price.

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Frequently Asked Questions

Did Rivian's Q2 results beat market expectations?

Yes. Reuters, Barron's, and other outlets reported that Rivian's Q2 revenue of $1.658 billion beat market expectations. Investing.com said earnings per share also topped estimates by 20 cents. However, the exact EPS figure was not specified in the filing.

Is Rivian still operating at a loss?

Yes. Rivian posted a Q2 operating loss of $836 million and a net loss of $837 million. However, both losses narrowed from a year earlier, when the company reported an operating loss of $1.114 billion and a net loss of $1.115 billion.

What is the R2?

The R2 is a midsize SUV that Rivian began delivering to external customers this quarter. Priced lower than its existing larger models, it targets a broader range of consumers. It is produced at the company's plant in Normal, Illinois, and annual production capacity is expected to rise to as much as 300,000 units once Rivian's second plant in Georgia is completed.

What is adjusted EBITDA?

Adjusted EBITDA is a metric that shows a company's earnings from its core operations, excluding interest, taxes, depreciation, and amortization. This earnings release did not include a specific adjusted EBITDA figure, so it is not reflected in this article.