RIVN

Rivian reported a positive gross profit of $24 million in the third quarter, marking a significant milestone as the company has seen consecutive quarters of positive gross profit. This shift to profitability underscores operational efficiency improvements and a stronger financial position.

Rivian's revenue surged by 78% year-over-year to $1.56 billion, surpassing analyst estimates of $1.49 billion. This substantial increase reflects robust demand, particularly influenced by a rush to purchase EVs before federal EV tax credits expired, which boosted deliveries in the quarter.

Rivian delivered 13,201 vehicles in Q3, its highest quarter of deliveries to date. The company also maintained its guidance for 41,500 to 43,500 vehicle deliveries in 2025, providing stability and confidence in its production capabilities.

Rivian's spinoff of Mind Robotics, a new industrial AI and robotics startup, has generated excitement about future innovations and diversification beyond EVs. This strategic move aligns with the company's focus on AI and robotics to reshape industrial operations, potentially opening new revenue streams.

Rivian's partnerships, such as its $5.8 billion joint venture with Volkswagen, have bolstered its software and services revenue, contributing to the overall growth momentum. The company's R2 platform, set for production in 2026, is expected to further expand its market reach with a more competitive pricing strategy.