Rivian's fourth-quarter financial performance exceeded Wall Street's expectations.

Rivian's gross profit in the fourth quarter of 2024 was US$170mn, topping market expectations, driven by US$299mn in revenue from regulatory credits and US$214mn in software and services revenue.

The company reported a loss of US$0.46/share in the fourth quarter, lower than the expected US$0.65/share. Revenue was US$1.73bn, topping the expected US$1.4bn.

The company expects to deliver 46,000-51,000 vehicles in 2025, lower than the 51,600 in 2024, and the CEO said the auto industry faces uncertainties such as the removal of federal EV subsidies and changes in tariff policies. The adjusted loss is expected to be between US$1.7bn and US$1.9bn in 2025, lower than US$2.69bn in 2024, which takes into account the impact of the removal of tax credits on EBITDA.

The company expects capital expenditure to be between US$1.6bn and US$1.7bn in 2025, higher than US$1.41bn in 2024, mainly for preparing the launch of its new midsize "R2" vehicle in 2026.

The company plans to idle its only car factory in Normal, Illinois, in the second half of 2025 to remodel it for the new vehicle.