Q3 2025 Earnings Report. Rivian R2 deliveries on track for first half 2026

[mkg3]

Full earnings report / shareholder letter:

https://downloads.ctfassets.net/2md5qhoeajym/36nGbthdeQ234qcaMZ1dRq/49b7d49a0244f995c9600ea2bdfcf3d8/EX_-_99.2_3Q25_Shareholder_Letter_Final.pdf

The attached is the 3 page financial highlights from the Rivian shareholder letter. It gives a great summary of where they are with their operations.

https://www.rivianforums.com/forum/attachments/q3financial-highlights-pdf.145706/

Sponsored

 

[jeeden]

Shareholder letter is out. Actually pretty good...

https://downloads.ctfassets.net/2md...8/EX_-_99.2_3Q25_Shareholder_Letter_Final.pdf

• 10,720 vehicles at its Normal, Illinois plant
• delivered 13,201
• Revenue up
• Big software revenue increase
• R2 on track

Looking forward to the call. I think that they are really going to shock some people on the AI day. I wonder if they don't come out of the gate with the AI demo, speech to text, a new level of AI driving, and they just say... and it is getting pushed through software TODAY.... could be exciting...

 

[mkg3]

The attached is the 3 page financial highlights from the Rivian shareholder letter. It gives a great summary of where they are with their operations.

 

[AlphaSnowbordergirl]

I need a date for that R2 though. Let me know when I can expect a new car so I can buy one!

 

[kurtlikevonnegut]

I need a date for that R2 though. Let me know when I can expect a new car so I can buy one!

If they aren't even launching the configurations until 2026 I don't think it'll be before late Q2. May/June first deliveries probably

 

[AlphaSnowbordergirl]

If they aren't even launching the configurations until 2026 I don't think it'll be before late Q2. May/June first deliveries probably

Yeah, just found that out from another post. Was really hoping the configurator was going to be revealed at the LA Auto Show. If they aren't doing deliveries until May/June, I probably won't be able to get one until 2027 since I didn't put in a reservation until March this year. Was trying hard to not have to buy certain things for my current car, but it'd be hard to manage without them for another full year.

 

[Donald Stanfield]

Yeah, just found that out from another post. Was really hoping the configurator was going to be revealed at the LA Auto Show. If they aren't doing deliveries until May/June, I probably won't be able to get one until 2027 since I didn't put in a reservation until March this year. Was trying hard to not have to buy certain things for my current car, but it'd be hard to manage without them for another full year.

Don't be so sure. For instance, I have an hour 1 reservation and am a current Rivian owner, but I don't plan on using my R2 reservation. There are a fair number of people in my spot, so you might be able to jump ahead. My cousin might be using mine, but we will see if he's interested.

 

[kurtlikevonnegut]

Yeah, just found that out from another post. Was really hoping the configurator was going to be revealed at the LA Auto Show. If they aren't doing deliveries until May/June, I probably won't be able to get one until 2027 since I didn't put in a reservation until March this year. Was trying hard to not have to buy certain things for my current car, but it'd be hard to manage without them for another full year.

I think they had something like 70k preorders first day, and a fair amount of current R1 owners have reservations. I think they'll spend most of 2026 just filling orders from the first few weeks if they even get through day 1.

 

[richguess]

I think I’m sunk for a 11/26 delivery when my current EV lease is up. Might buy a used place holder for a year or 2, maybe get the kinks out anyway. I’m in if it’s available.

 

[mkg3]

If they aren't even launching the configurations until 2026 I don't think it'll be before late Q2. May/June first deliveries probably

There is a past examples from Rivian that potential buyer can configure and wait or pick one from the Shop.

It is all likely that they will batch and make what they believe to be a desirable configuration and put them in the shop.

My guess is that they are aiming delivery start by the end of March. They need the cashflow ASAP.

 

[CO-rayman]

I think they had something like 70k preorders first day, and a fair amount of current R1 owners have reservations. I think they'll spend most of 2026 just filling orders from the first few weeks if they even get through day 1.

Right, but I am not sure how many current R1 owners would go with an R2.

In my case, I put in 2 orders in the first hour and don't plan to use either of those at this moment (that is until I get a better picture of the self-driving software on R2 and a resolution for suspension issues on the R1 after 50k miles).

 

[SANZC02]

Right, but I am not sure how many current R1 owners would go with an R2.

In my case, I put in 2 orders in the first hour and don't plan to use either of those at this moment (that is until I get a better picture of the self-driving software on R2 and a resolution for suspension issues on the R1 after 50k miles).

It will be interesting to see how many R1 owners go to R2.

For me the R1S was at the time was the only electric option to replace our Grand Cherokee. The R2 is much closer in size to the Grand Cherokee and should be more efficient than the R1S. No plans to get rid of the R1S but looking forward to adding the R2 into the mix. I think if they were both available when we got the R1S we would have probably got the R2.

 

[jambaman84]

I have an hour 1 reservation as well. But I don't know if I will get it. I love my R1T, but if the R2 comes out with amazing specs and range, I might trade in my T for the R2... but I doubt it.

 

[RivRyan]

I think I'm day 1, maybe hour 1, as well. I don't remember exactly. My receipt email came Thursday, March 7, '24 at 12:07 pm (CT). What was day 1?

We became a 2-EV family a month ago with a tax credit buzzer beater EV9 (and an ID4). I'm likely to hold my reservation till my 14-yo can drive (the '23 ID4, not the new car) so I won't use it immediately, and in fact, there may be no need for a reservation by the time I'd be buying. We'll see. Still excited for the first deliveries and glad to hear they're on track!

 

[KRIV_ian]

CNBC section on the Rivian numbers, Rivian is focused on finding other sources of rare earth materials and magnets, says CEO RJ Scaringe

Sponsored