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Mar 31
Rivian Q1 2025 Earnings Report
Rivian reported a net loss but achieved positive gross profit for the second consecutive quarter.
Key Takeaways
Rivian delivered strong Q1 results with a $206 million gross profit, driven by a growing software segment and improved cost control, despite lower vehicle deliveries and a net loss of $545 million.
Achieved $206 million in gross profit, the highest in company history.
Unlocked a $1 billion investment from Volkswagen due to financial milestone.
Produced 14,611 vehicles and delivered 8,640 units during the quarter.
Software and services revenue grew to $318 million, outpacing automotive growth.
Rivian
Rivian
Rivian Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comSoftware & Services Revenue
CapyFin.com Forward Guidance
Rivian maintained its adjusted EBITDA outlook while raising capital expenditure guidance due to trade impacts and strong Q1 performance.
Positive Outlook
- Maintains adjusted EBITDA loss guidance between $1.7B and $1.9B.
- Continues to expect modest positive gross profit for FY2025.
- R2 vehicle development and factory expansion remain on track.
- Anticipates $1B investment from Volkswagen by end of Q2.
- Strong momentum in software and services growth.
Challenges Ahead
- Lowered delivery outlook to 40,000–46,000 vehicles for FY2025.
- Raised capital expenditure guidance to $1.8B–$1.9B.
- Facing potential impact from global trade and tariffs.
- Continued losses despite gross profit gains.
- Net cash used in operating activities for the quarter was $188 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income