Rivian Automotive reported full-year gross profit and said customer deliveries of the R2 electric vehicle are slated for the second quarter of 2026.
The US electric vehicle maker recorded consolidated gross profit of $144m in 2025, reversing a $1.2bn gross loss a year earlier.
For the full year, the net loss narrowed to $3.64bn from $4.74bn and full-year consolidated revenue rose 8% to $5.38bn.
Automotive revenue fell 15% to $3.83bn, while software and services revenue surged 222% to $1.55bn.
Rivian attributed the swing to gross profit to improved software and services performance, higher average selling prices and lower cost per vehicle.
For 2025, production and deliveries totalled 42,284 and 42,247 units respectively.
The company said R2 manufacturing preparations remain on schedule, with initial validation builds completed in mid-January 2026 using production tools at the Normal facility.
The launch model will be a dual-motor all-wheel-drive variant, with further details due on 12 March 2026.
Fourth-quarter gross profit reached $120m on revenue of $1.28bn, down from $170m on $1.734bn in the prior-year period.
Automotive revenue declined 45% year on year to $839m in the quarter, reflecting weaker regulatory credit sales, fewer deliveries after tax incentives expired, and a lower average selling price due to a greater share of electric delivery vans.
By contrast, software and services revenue jumped 109% to $447m, supported by vehicle electrical architecture and software development work tied to Rivian’s joint venture with Volkswagen Group, alongside stronger remarketing and after-sales activity.
The company posted a net loss attributable to common stockholders of $811m in the fourth quarter, versus $744m in 2024.
Rivian produced 10,974 vehicles and delivered 9,745 in the fourth quarter at its Normal, Illinois plant.
During the quarter, Rivian rolled out its Universal Hands-Free assisted-driving feature for second-generation R1 vehicles across more than 3.5 million miles of roads in the US and Canada.
It also introduced Rivian Unified Intelligence, an AI-based software platform and a voice interface, Rivian Assistant.
By year-end, Rivian operated 36 retail locations, 97 service sites and nearly 700 mobile service vehicles.
For 2026, it forecasts deliveries of 62,000-67,000 vehicles, an adjusted EBITDA loss of $1.80bn-$2.10bn and capital expenditure of $1.95bn-$2.05bn.
Rivian founder and CEO RJ Scaringe said: “In 2025 we focused on execution as we laid the foundation for dramatically scaling our business. Our Autonomy & AI Day in December unveiled our RAP1 Autonomy Processor, our autonomous driving platform and our AI-driven in-car Rivian Assistant. It’s incredibly exciting to see the early strong reviews of the R2 pre-production builds, and we can’t wait to get them to our customers next quarter.”
