Rivian narrows Q1 loss 23% to $416M; R2 deliveries begin as litigation expands

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~1 min read

Key Changes

• high

  Q1 2026 net loss improved to $416M from $541M in Q1 2025, a 23% reduction, driven by cost discipline despite lower production volumes (10,236 vs 14,611 units) and $100M drop in regulatory credit sales.

  Risk Factors: quarterly net loss verify on EDGAR →
• high

  R2 deliveries commenced late April 2026, marking a critical milestone for the midsize platform expected to drive volume growth, though execution risk remains on meeting delivery targets.

  MD&A: R2 launch verify on EDGAR →
• high

  Automotive gross margin turned negative $62M in Q1 2026 vs positive $92M in Q1 2025, driven by lower regulatory credit revenue and reduced production during Normal Factory retooling for R2 integration.

  MD&A: Automotive gross margin verify on EDGAR →