WASHINGTON (dpa-AFX) - Rivian Automotive, Inc. (RIVN) on Thursday reported a narrower loss for the second quarter as revenue increased 27%, driven by higher vehicle deliveries, regulatory credit sales and growth in its software and services business. The electric vehicle maker also raised its full-year delivery outlook.
For the second quarter, net loss attributable to common stockholders narrowed to $833 million or $0.63 per share from $1.117 billion or $0.97 per share a year earlier.
Revenues for the quarter increased to $1.658 billion from $1.303 billion a year ago. Automotive revenue rose 23% to $1.143 billion, while software and services revenue climbed 37% to $515 million.
For full-year 2026, Rivian increased its vehicle delivery outlook to 65,000-70,000 units, improved its adjusted EBITDA guidance to a loss of $2.00 billion-$1.80 billion and lowered projected capital expenditures to $1.70 billion-$1.80 billion.
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