WASHINGTON (dpa-AFX) - Rivian Automotive, Inc. (RIVN) on Thursday reported a narrower third-quarter loss as revenue surged 38% year over year, driven by higher vehicle deliveries and strong performance in its software and services segment.
Net loss attributable to common stockholders narrowed to $913 million, or $0.63 per share, from $1.17 billion, or $0.96 per share, a year earlier. Adjusted net loss per share narrowed to $0.48 from $0.65.
Revenue for the quarter surged 38% to $2.16 billion from $1.56 billion. Automotive revenue rose 36% to $1.55 billion, while software and services revenue increased 45% to $605 million.
Rivian produced 19,751 vehicles and delivered 19,248 units during the quarter, with the R2 becoming its best-selling vehicle by volume.
Rivian raised its 2026 delivery outlook to 67,000 - 70,000 vehicles from 65,000 - 70,000 and improved its adjusted EBITDA outlook by $100 million at the midpoint to a loss of $1.75 billion - $1.85 billion. Capital expenditure guidance was reduced to $1.40 billion - $1.50 billion.
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