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Get filing alertsRivian reports Q2 2026 revenue up 27% to $1.66B, turns gross profit positive, begins R2 deliveries
Filed July 30, 2026 · Period ending July 30, 2026 · ~2 min read
Key Changes
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Q2 2026 revenue rose 27% YoY to $1.658B on 14% higher deliveries, $108M regulatory credits, and strong software/services. Gross profit turned positive at $179M vs. $(206)M loss a year earlier; automotive gross loss narrowed to $(36)M from $(335)M.
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Began external R2 deliveries June 9, 2026. Production ramp incurred ~$100M incremental costs in Q2; company expects R2 to drive long-term growth and profitability as it scales to two shifts by end of Q3 2026.
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Raised 2026 guidance: deliveries up 3,000 units to 65,000–70,000; adjusted EBITDA improved $50M at midpoint to $(2.00)B–$(1.80)B on regulatory credits and volume, offset by higher raw material/logistics costs; capex reduced $250M to $1.70B–$1.80B.
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Ended Q2 with $5.3B cash; raised ~$1.3B in July equity offering (86.25M shares at $15.50) for DOE loan equity contributions/reserves. Expects $1B non-recourse debt from VW and $250M equity from Uber later in 2026; total available liquidity over $14B.
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Amazon fleet grew to 40,000+ Rivian EDVs delivering across North America; Rivian Commercial Van platform surpassed 1 billion cumulative miles driven in Q2. Developing new EDV variants with larger battery packs and AWD for Amazon.
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Summary
Rivian reported strong Q2 2026 results that mark a turning point in its path to profitability. Revenue climbed 27% year-over-year to $1.658 billion, driven by higher vehicle deliveries, $108 million in regulatory credit sales, and robust software and services performance.
The company achieved consolidated gross profit of $179 million, a $385 million improvement from the prior-year quarter's loss, with automotive gross loss narrowing sharply to $(36) million.
The June 9 launch of external R2 deliveries is a critical milestone, expanding Rivian's addressable market with a more affordable mid-size SUV, though the production ramp added ~$100 million in costs during the quarter as the company scales toward normalized efficiency. Rivian raised its 2026 guidance across the board: deliveries increased by 3,000 units to 65,000–70,000, adjusted EBITDA improved $50 million at the midpoint to $(2.00)B–$(1.80)B, and capital expenditures were reduced $250 million to $1.70B–$1.80B due to project efficiencies. The company bolstered its balance sheet with a July equity raise of ~$1.3 billion and ended Q2 with $5.3 billion in cash. With expected inflows of $1 billion in non-recourse debt from Volkswagen, a $250 million equity investment from Uber (tied to autonomous R2 robotaxi milestones), and a $4.5 billion DOE loan for the Georgia plant, Rivian's total available liquidity exceeds $14 billion. The combination of improving unit economics, R2 ramp momentum, and substantial capital resources positions the company to execute its growth plan while managing the cash burn inherent in scaling production and developing autonomous capabilities.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Rivian announced Q2 2026 financial results via press release and earnings presentation, with an investor webcast scheduled for July 30.
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On July 30, 2026, Rivian Automotive, Inc. (the “Company”) announced its financial results for the second quarter ended June 30, 2026.
Rivian disclosed its financial results for the second quarter ended June 30, 2026. The 8-K itself does not contain specific financial metrics; those are furnished in the attached press release (Exhibit 99.1) and earnings presentation (Exhibit 99.2). The company scheduled an investor webcast for July 30, 2026 at 2:00pm PT / 5:00pm ET to discuss the results.
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The Company is making reference to non-GAAP financial information in the press release, the Presentation and the audio webcast. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the press release and the Presentation.
Rivian disclosed that it is using non-GAAP financial measures in its earnings materials. Reconciliations to GAAP equivalents are provided in the press release and presentation exhibits. This is standard practice for earnings announcements, allowing investors to see both GAAP and adjusted metrics.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Consolidated revenue was $1.658 billion, a 27 percent increase over the same quarter of the prior year. This was driven by a 14 percent year-over-year increase in delivery volumes, $108 million in revenues related to regulatory credits, and strong performance from the company’s software and services segment. ... Consolidated gross profit was $179 million, a $385 million improvement over the same quarter in the prior year.
Rivian delivered $1.658 billion in revenue for Q2 2026, up 27% year-over-year, driven by higher delivery volumes, $108 million in regulatory credit revenue, and strong software and services performance. The company achieved consolidated gross profit of $179 million, a $385 million improvement versus Q2 2025, marking a significant step toward profitability. Automotive gross loss narrowed to $(36) million from $(335) million in the prior-year quarter, while software and services gross profit reached $215 million (42% margin), up $86 million year-over-year, largely due to the Volkswagen Group joint venture.
Added in current filing · view on EDGAR →
On June 9, Rivian began external deliveries of R2, an affordable mid-size SUV that brings Rivian’s design, performance, and technology to a significantly broader audience. ... In the quarter, Rivian recognized approximately $100 million in incremental cost of revenues due to the ramp of R2 production as compared to production at more normalized levels.
Rivian began external deliveries of the R2 mid-size SUV on June 9, 2026, a key milestone for expanding its addressable market. The R2 is produced at the Normal, Illinois facility and is designed to appeal to a broader consumer base with competitive pricing and Rivian's signature performance and technology. The production ramp incurred approximately $100 million in incremental costs during Q2 2026, reflecting the early-stage inefficiencies typical of new-vehicle launches. Management expects R2 to be a long-term growth and profitability driver.
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Amazon now has over 40,000 custom-built Rivian Electric Delivery Vans active in its fleet delivering packages across thousands of cities in North America. In addition to the EDV standard pack variant already on the road, Rivian is developing new variants with a large battery pack and AWD to support Amazon’s needs. In the second quarter, Rivian surpassed one billion miles driven on its Rivian Commercial Van platform.
Amazon's fleet of Rivian Electric Delivery Vans (EDVs) has grown to over 40,000 units actively delivering packages across thousands of North American cities. Rivian is developing new EDV variants with larger battery packs and all-wheel drive to meet Amazon's evolving needs. In Q2 2026, Rivian's Commercial Van platform surpassed one billion cumulative miles driven, a significant operational milestone demonstrating the durability and scale of the platform.
Event · Exhibit 99.2
Rivian reported Q2 2026 results with $1.658B revenue (+27% YoY), $179M gross profit, 12,194 deliveries, and began external R2 deliveries in June.
Added in current filing · view on EDGAR →
In the second quarter, Rivian generated $1.658 billion of revenue, a 27% increase over the same quarter last year driven by a 14% year-over-year increase in delivery volumes, $108 million in revenues related to regulatory credits, and strong performance from our software and services segment. Gross profit was $179 million.
Rivian reported Q2 2026 revenue of $1.658 billion, up 27% year-over-year, driven by 14% higher deliveries (12,194 vehicles), $108 million in regulatory credit revenue, and software/services growth. Gross profit turned positive at $179 million (11% margin) versus a $(206) million loss in Q2 2025. The automotive segment posted a $(36) million gross loss, a significant improvement from $(335) million a year earlier, while software and services delivered $215 million gross profit at 42% margin.
Added in current filing · view on EDGAR →
Rivian began deliveries of R2 vehicles to external customers on June 9, 2026. We believe R2 will be a game changer for our customers and a driver of our company’s long-term growth and profitability.
Rivian commenced external customer deliveries of its R2 vehicle on June 9, 2026, marking a major product expansion. The company recognized approximately $100 million in incremental cost of revenues due to the ramp of R2 production as compared to production at more normalized levels. Management expects R2 to drive long-term growth and profitability, with strong media reviews and plans to scale to two production shifts by end of Q3 2026.
Added in current filing · view on EDGAR →
In early July, Rivian issued 86.25M shares at an offering price of $15.50 per share for net proceeds of approximately $1.3B. These proceeds are expected to be used for general corporate purposes including the funding of certain equity contributions and reserves associated with the DOE loan.
Rivian completed an equity offering in early July 2026, issuing 86.25 million shares at $15.50 per share for net proceeds of approximately $1.3 billion. The proceeds will fund general corporate purposes including equity contributions and reserves required for the Department of Energy loan of up to $4.5 billion ($4,006M principal and $494M capitalized interest) to build the Georgia facility, with first draw expected by early 2027. The DOE loan carries a U.S. Treasury-equivalent interest rate with 0% credit spread and requires $2 billion minimum consolidated liquidity covenant.
Added in current filing · view on EDGAR →
our partnership with Uber Technologies, Inc., including the expected benefits from the partnership and future Uber investments, the achievement of certain milestones and regulatory approval, the timeline, total purchase, and deployment plans for fully autonomous R2 robotaxis by Uber and its fleet partners, the timeline and geographic location for initial commercial deployments and future scaling
Rivian disclosed a partnership with Uber Technologies for deployment of fully autonomous R2 robotaxis. Uber will make a first milestone-based investment of $250 million targeted by end of 2026, subject to achieving certain autonomy milestones and conditions, with an additional up to $700 million investment targeted through 2031 subject to further autonomous milestones. The partnership aims to build a scaled, fully-autonomous fleet of Rivian R2 robotaxis, though specific deployment timelines and locations were not disclosed.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 30, 2026 · How we verify