---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40344448.md"
description: "RIVN 1Q26 First Take: Overall, Rivian delivered a decent print. Revenue was roughly in line with estimates, while GP and net loss came in slightly better. Details below: ① Vehicle revenue reached $900 mn, above the $880 mn consensus. ASP was $88k, up from $83k in the prior quarter (+$5k), likely on improved mix (lower EDV share) and some pullback in promo discounts. ASP also topped the market’s $85k estimate. ② Vehicle GPM kept improving QoQ, rising from -10.9% to -6.8% (+410 bps), slightly better than the market’s -7.8% expectation. The ASP uplift offset drag from reduced scale benefits. ③ Adj. EBITDA was -$470 mn, better than the -$500 mn consensus, supported by stronger GP and disciplined R&D spend. Adj. EBITDA margin ticked up QoQ by ~200 bps to -34.2%. However, vs. this print, investors are more focused on R2, a lower-priced volume model, including ramp speed and margin implications; please stay tuned for Dolphin Research’s take and Trans. $Rivian Automotive(RIVN.US)"
datetime: "2026-05-01T01:04:59.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40344448.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40344448.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40344448.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# RIVN 1Q26 First Take: Overall, Rivian delivered a …


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