Rivian Automotive | 8-K: FY2026 Q3 Revenue: USD 2.155 B

Revenue: As of FY2026 Q3, the actual value is USD 2.155 B, compared to the market estimate of USD 1.997 B.

EPS: As of FY2026 Q3, the actual value is USD -0.63, compared to the market estimate of USD -0.721.

EBIT: As of FY2026 Q3, the actual value is USD -900 M.

Overall Financial Performance

Rivian Automotive, Inc. reported consolidated revenue of $2.155 billion for the third quarter ended September 30, 2026, marking a 38% increase over the same quarter of the prior year . Consolidated gross profit was $176 million, an improvement of $152 million over the same quarter of the prior year, with an overall gross margin of 8% in Q3 2026, up from 2% in Q3 2025 . The company experienced a loss from operations of - $881 million, an improvement from - $983 million in the same quarter of the prior year . Net loss attributable to common stockholders for the third quarter was - $913 million, compared to - $1.173 billion for the same quarter of the prior year . Adjusted EBITDA (non-GAAP) was - $435 million, showing a $167 million improvement compared to - $602 million in Q3 2025 .

Segment Revenue

• Automotive Revenue: Automotive revenue was $1.550 billion, a 36% increase over the same quarter of the prior year, primarily due to increased vehicle deliveries and an $80 million increase in revenues related to regulatory credits .
• Software and Services Revenue: Software and services revenue was $605 million, a 45% increase over the same quarter of the prior year, with $354 million, or 59%, attributable to the joint venture with Volkswagen Group .

Operational Metrics

• Operating Expenses: Total operating expenses increased to $1.057 billion, compared to $1.007 billion in the same quarter of the prior year . Research and development (R&D) expenses were $485 million, and Selling, general and administrative (SG&A) expenses were $572 million . Total adjusted operating expenses (non-GAAP) were $799 million .
• Gross Profit by Segment: Automotive gross profit loss for the third quarter was - $80 million, an improvement from - $130 million in the same quarter of the prior year, with an automotive gross margin of -5% in Q3 2026 compared to -11% in Q3 2025 . Software and services gross profit for the third quarter was $256 million, representing a 42% margin and a $102 million improvement over the same quarter of the prior year .
• R2 Production Costs: Rivian Automotive, Inc. recognized approximately $120 million in incremental cost of revenues in Q3 2026 due to the ramp-up of R2 production .
• Vehicle Production and Deliveries: 19,751 vehicles were produced, and 19,248 vehicles were delivered to customers, marking a 46% year-over-year increase in deliveries . R2 became the best-selling Rivian Automotive, Inc. vehicle by volume .
• Autonomy+ Offering: The Autonomy+ offering is available on every R2 and R1 starting with the 2025 model year, with a limited rollout of the Point to Point feature expected later this year via an invitation-only program .
• Service & Sales Network: Rivian Spaces increased to 48 (37% increase), Rivian Service Centers to 108 (14% increase), Rivian Adventure Network Locations to 165 (26% increase), and Rivian Adventure Network Chargers to 1,185 (39% increase) .
• Demo Drives: Demo drives saw a 243% increase, totaling over 103,000 in Q3 2026 .

Cash Flow

• Net Cash Used in Operating Activities: Net cash used in operating activities for the third quarter was - $758 million, compared to $26 million provided by operating activities for the same quarter of the prior year .
• Capital Expenditures: Capital expenditures for the third quarter were - $366 million, reduced from - $447 million for the same quarter of the prior year .
• Free Cash Flow (Non-GAAP): Free cash flow was - $1.124 billion, compared to - $421 million for the same quarter of the prior year .

Liquidity

Rivian Automotive, Inc. ended the third quarter with $5.502 billion in cash, cash equivalents, and short-term investments . Total liquidity, including its asset-based revolving-credit facility, was $6.095 billion, with pro forma total available liquidity at $7.095 billion including $1.000 billion received in October 2026 from Volkswagen Group . Targeted capital for 2026 includes a $250 million milestone-based equity investment from Uber Technologies, with additional future capital including a $460 million equity investment from Volkswagen Group and an up to $4.5 billion Department of Energy loan .

2026 Annual Guidance

Rivian Automotive, Inc. has improved its full-year delivery guidance to 67,000 – 70,000 units . Adjusted EBITDA guidance is now projected between - $1.85 billion and - $1.75 billion, a $100 million improvement at the mid-point . Capital expenditures guidance has been reduced by $300 million at the mid-point, with a revised outlook of $1.40 billion to $1.50 billion due to timing of spend .