Rivian (RIVN) Q3 2025 earnings

Detroit – Rivian Cars It beat Wall Street expectations for the third quarter, as the company reported its second total quarterly profit this year thanks to a joint venture with Volkswagen and its software and services businesses.

Here’s what Wall Street expected, based on average analyst estimates compiled by LSEG:

• Loss per share: 65 cents adjusted for. A loss of 72 cents is expected
• profit: $1.56 billion versus $1.5 billion expected

Rivian stock rose more than 3% in extended trading Tuesday, after closing down 5.2% at $12.50 a share. The stock is down about 6% this year.

Regarding its gross earnings, which investors are closely watching, the company reported $24 million during the third quarter, beating FactSet estimates of a loss of $38.6 million. The company’s automotive, software and services segments all performed better than expected.

“While we face near-term uncertainty from trade, tariffs and regulatory policy, we remain focused on long-term growth and value creation,” Rivian CEO and founder RJ Scaringe said Tuesday in the company’s shareholder letter.

Rivian’s total earnings included a $130 million loss in its automotive operations — representing a $249 million improvement over the same period a year earlier — which was offset by $154 million from the VW joint venture, software and services.

Investors view gross profit as a key indicator of a company’s profitability before operating expenses, interest, and taxes.

Rivian maintained its previously lower guidance for 2025 which includes an adjusted earnings loss of $2 billion to $2.25 billion, capital expenditures of $1.8 billion to $1.9 billion and vehicle deliveries of 41,500 units to 43,500 units. It also reaffirmed gross profit at breakeven, down from the modest profit target earlier in the year.

The company also reaffirmed the timing of production of its new R2 mid-size car for the first half of next year at the company’s only factory in Illinois.

Rivian ended the third quarter with total liquidity of $7.7 billion, including approximately $7.1 billion in cash, cash equivalents and short-term investments that Scaringe said was “really well positioned” for the R2 launch.

Scaringe said Tuesday that the company does not expect concerns about rare earth metals from China or chips from Chinese-owned auto supplier Nexperia to delay R2 production.

“This is not something we see as a possibility for a delay in R2 just because of the way we’ve built and designed the supply chain, and the preparation that’s been put in place for the launch,” he told CNBC’s Phil LeBeau during an interview. “In the most urgent sense, Nexperia, all we need to do is solve this problem.”

China said on Saturday it would consider some exemptions for exports of Nexperia chips, which it halted amid trade talks with the United States and following the Dutch government’s takeover of the company in the Netherlands.

Rivian’s third-quarter revenue rose 78% compared to $874 million a year earlier. The company’s net loss attributable to common shareholders widened slightly from $1.1 billion, or a loss of $1.08 per share, during the third quarter of last year to $1.17 billion, or a loss of 96 cents, during the fourth quarter. Excluding single-time items, including research and development, among others, the company lost 65 cents per share.

EV manufacturers like Rivian are facing industry-wide issues such as increasing costs due to tariffs and slowing expected sales of EVs, as well as company-specific issues that include new product challenges and regulatory changes that negatively impact sales and profits, including the end of federal incentives for consumers.

Rivian did not immediately provide an update on the effects of the tariffs on its business or regulatory changes. The company had previously said the fees were costing it “thousands of dollars per unit” this year, and that changing regulations were negatively impacting its operations.