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Rivian Automotive, Inc. (RIVN) perpetual futures
RIVN perpetual futures on 18 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade RIVNUSDT.
Rivian Automotive, Inc. designs, engineers, and manufactures electric vehicles, including pickup trucks, SUVs, and a commercial delivery van platform, primarily for consumers and in partnership with Amazon.
$11.96-0.8%NASDAQ closed
Price chart
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venue perp mark · LBank (RIVN/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
18/18 live markets
Trading data
Perpetual market activity
Venues
18
Live markets
18/18
24h volume
$3.7MCoverage: 13/18 marketsExchange-reported volume: $8.3M
Open interest
$2.4MCoverage: 15/18 markets
Best liquidity
$387.6K
Ourbit
Tightest spread
+8.4 bps
BingX
Highest volume
$1.4M
Binance
Settlement mix
USDT · 14/18
Perp/spot vol.
0.01x
Spot volume $340.6M
OI / float
+0.02%
Float $11.4B
Spot performance
1D-4.84%
5D-10.83%
1M-6.45%
6M-11.68%
YTD-38.20%
1Y-18.09%
Venue matrix
18 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | RIVN/USDT | Trading | $11.97 | 0.0% APR 0.000% every 8h | +8.4 bps | $85K | $1.4M | $288K | USDT | - | |
 Bybit | Trade | RIVN/USDT | Trading | $11.97 | 0.0% APR 0.000% every 8h | +25.1 bps | $10.1K | $162.2K | $163.1K | USDT | 25x | |
 KuCoin | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +8.4 bps | $11.9K | $154.5K | $45.3K | USDT | 20x | |
 MEXC | Trade | RIVN/USDT | Trading | $11.97 | 0.0% APR 0.000% every 8h | +16.7 bps | $139.5K | $102.9K | $161.6K | USDT | 50x | |
 Bitunix | Trade | RIVN/USDT | Trading | $11.97 | +1.4% APR +0.00125% every 8h | +25.1 bps | $237.7K | $100.3K | $14K | USDT | 20x | |
 Hyperliquid HIP-3 | Trade | xyz:RIVN | Trading | $11.96 | -99.1% APR -0.011% every 1h | +22.6 bps | - | $64.2K | $1.2M | USDC | 10x | |
 OKX | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +25.1 bps | $12K | $36.9K | $171.2K | USDT | 20x | |
 HTX | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +58.5 bps | $15.7K | $1.8K | $5.4K | USDT | - | |
 Gate.io | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +87.8 bps | $15.5K | $573 | $154.7K | USDT | 20x | |
 Aster | Trade | RIVNUSDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +83.5 bps | $50.9K | $481.7 | $7.8K | USDT | - | |
 Crypto.com Exchange | Trade | RIVN/USD | Trading | $11.98 | +5.0% APR +0.00057% every 1h | +25.1 bps | $2.1K | $0 | $516.3 | USD | 50x | |
 Vest | Trade | RIVN/USDC | Trading | $12.11 | +5.0% APR +0.00057% every 1h | +231.2 bps | $0 | - | - | USDC | 10x | |
 Deepcoin | Trade | RIVN/USDT | Trading | $11.95 | - | +8.4 bps | $156.3K | $1.1M | - | USDT | 25x | |
 XT.com | Trade | RIVN/USDT | Trading | $11.95 | 0.0% APR 0.000% every 8h | +8.4 bps | $16.8K | $638.8K | - | USDT | 20x | |
 LBank | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +8.4 bps | $114.2K | $1.4M⚠ | $805.6 | USDT | 50x | |
 Ourbit | Trade | RIVN/USDT | Trading | $11.96 | 0.0% APR 0.000% every 8h | +8.4 bps | $387.6K | $1.4M⚠ | $120.4K | USDT | 50x | |
 Variational | Trade | RIVN/USDC | Trading | $11.97 | 0.0% APR 0.000% every 8h | +17.1 bps | no public depth feed | $975.7K⚠ | $38.4K | USDC | - | |
 BingX | Trade | RIVN-USDT | Trading | $11.97 | +5.5% APR +0.00500% every 8h | +8.4 bps | $106.8K | $770.9K⚠ | $1.1K | USDT | - |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| RIVNRobinhood | $11.97 | +0.08% | $13k | $286k | Robinhood Chain |
| RIVNxxStocks | $11.90 | -0.47% | $44 | $12k | Ethereum · BNB Smart Chain (BEP20) · Solana · Arbitrum |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 uniswapDEX · robinhood | RIVN/USDG ↗ | $11.97 | $13k | $27k |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 11 of 18 venues absorb $10k · Typical cost: +16.6 bps – +86.6 bps
Too thin: Gate.io, OKX, KuCoin, Crypto.com Exchange, Hyperliquid HIP-3
No fresh book data: Variational, Vest
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
RIVNTightest spread
RIVNHighest volume
RIVNFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-02-11
Revenue est. $2.52B · Updated 1h ago
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid12
Ask12.09
Volume28,832,325
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-2.10$7.7B+43%11
FY 2027-1.91$11.6B+50%11
FY 2028-1.36$15.1B+30%11
FY 2029-0.48$23.8B+58%4
FY 20300.53$31.2B+31%4
Q1 2029-0.13$5.1B-3
Source: FMP · Consensus
Company events
62027-02-11EarningsActual - / Estimate -0.55-
2026-10-29Earnings · After market closeActual -0.48 / Estimate -0.644Beat
2026-07-30EarningsActual -0.47 / Estimate -0.663Beat
2026-04-30EarningsActual -0.55 / Estimate -0.632Beat
2026-02-12EarningsActual -0.54 / Estimate -0.708Beat
2025-11-04EarningsActual -0.7 / Estimate -0.739Beat
Peer comparison
Similar listed perpsRevenue mix
Latest annualAutomotiveProduct$3.8B
Software And ServicesProduct$1.6B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $17.44 |
| 12-month target range (low – high) | $14 – $22 |
| Ratings in the provider's consensus | 29 |
Price targets as of 2026-11-15
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 4 | 10 | 7 | 3 | 2 |
| Oct 2026 | 5 | 9 | 8 | 3 | 2 |
| Sep 2026 | 5 | 8 | 8 | 3 | 2 |
| Aug 2026 | 5 | 8 | 9 | 3 | 2 |
| Jul 2026 | 5 | 8 | 10 | 3 | 2 |
| Jun 2026 | 4 | 8 | 10 | 3 | 2 |
| May 2026 | 3 | 8 | 10 | 3 | 2 |
| Apr 2026 | 4 | 8 | 10 | 3 | 3 |
| Mar 2026 | 4 | 8 | 10 | 3 | 3 |
| Feb 2026 | 3 | 7 | 11 | 4 | 2 |
| Jan 2026 | 3 | 6 | 12 | 4 | 2 |
| Dec 2025 | 3 | 6 | 14 | 2 | 2 |
Ownership
Institutional · 2026-Q2Free float65.3%950.5M shares
Shares outstanding1.5B shares
Institutional60%900 investors
Investor count change+8
Reference market activity
RIVN-PERPDay range (Nov 13)$12.15$12.84
52 week$11.38$22.69
Spot volume28.5M
Average volume-
Price performance
111D-4.8%
5D-10.8%
1M-6.5%
3M-20.7%
6M-11.7%
YTD-38.2%
1Y-18.1%
3Y-29.4%
5Y-91.8%
10Y-87.9%
MAX-87.9%
Insider activity
FY2026 Q4Acquisitions4 transactions4,237 shares
Dispositions3 transactions745,712 shares
Purchases0Ratio 1.33
Sales1
Insider transactions
25DateReporting persontransactionssharesPriceFilings
New insider filing (Form 3) for Rivian Automotive: officer Mulvey Derek B (Interim CFO) reported ownership of 296,200 Class A common shares; no transaction was reported.
Rivian CFO Claire McDonough returned 730,292 Class A shares to the issuer (code D) at $0.00 on Oct 30, 2026, leaving 88,886 shares owned.
Director Aidan N. Gomez received an award of 807 Class A shares and had 420 shares withheld for taxes at $12.34, leaving 63,564 shares owned.
Director Schwartz received an award of 1,251 Class A common shares at $0.00 on 2026-10-20, leaving 214,253 shares owned directly.
Director Krafcik John received 1,251 shares of Class A Common Stock as a stock award on Oct 20, 2026, at $0.00 per share, raising his holdings to 80,644 shares.
Rivian director Krawiec Peter received a grant (A) of 928 Class A common shares at $0.00 on 2026-10-20, bringing his holdings to 28,486 shares.
Rivian officer Michael John Callahan sold 15,000 Class A common shares at $15 on Oct 1, 2026, leaving 1,001,776 shares.
Rivian officer Michael John Callahan sold 15,000 shares of Class A Common Stock at $16.2927 per share, leaving 1,016,776 shares owned.
On August 20, 2026, CFO Claire McDonough sold 8,023 Class A shares of Rivian at $16 each, retaining 819,178 shares.
On August 15, 2026, CEO Robert Scaringe had 44,033 shares of Class A Common Stock withheld for tax purposes, at $15.36 per share.
On Aug 15-18, 2026, CFO Claire McDonough disposed of 38,640 shares withheld for taxes and sold 13,144 shares, for a total of 51,784 Class A shares reduced.
On 2026-08-15, Chief Administrative Officer Michael John Callahan disposed of 42,082 Class A common shares in a tax withholding transaction (code F) at $15.36 per share, leaving 1,031,776 shares owned.
On 2026-08-15, Chief Accounting Officer Sreela Venkataratnam disposed of 20,297 Class A common shares via tax withholding (F) at $15.36 each, leaving 564,599 shares owned.
Director Aidan N. Gomez was awarded 769 Class A shares as compensation, then 343 shares were withheld to cover taxes at $17.45 per share. He now owns 63,177 shares.
Rivian director John Krafcik received a grant of 1,192 Class A shares on 2026-07-20, bringing his total holdings to 79,393 shares.
Rivian director Peter Krawiec received a grant of 884 Class A shares (A-Award) on 2026-07-20, bringing his total holdings to 27,558 shares. No cash was paid, as this was compensation, not a purchase.
Rivian director Sanford Harold Schwartz received a grant of 1,192 Class A shares on 2026-07-20, bringing his total ownership to 213,002 shares.
Karen Boone, a Rivian director, sold 20,000 shares of Class A Common Stock at $20 on 2026-07-06, leaving 110,000 shares owned afterward.
Rivian director Karen Boone was awarded 17,445 shares of Class A Common Stock on 2026-06-22 as compensation, bringing her total ownership to 115,794 shares.
Rivian director Jay T. Flatley received a grant of 17,445 Class A shares on 2026-06-22, bringing his ownership to 179,515 shares.
Director John Krafcik was awarded 17,445 shares of Rivian Class A Common Stock at $0.00 (a grant, not a purchase), bringing his total holdings to 78,201 shares.
Rivian director Peter Krawiec received a compensation grant of 17,445 Class A shares on 2026-06-22, bringing his total ownership to 26,674 shares.
Filings
57 · Latest SEC filings2026-10-303Initial insider ownership statement (Form 3)
New insider filing (Form 3) for Rivian Automotive: officer Mulvey Derek B (Interim CFO) reported ownership of 296,200 Class A common shares; no transaction was reported.
2026-10-304Insider transaction report (Form 4)
Rivian CFO Claire McDonough returned 730,292 Class A shares to the issuer (code D) at $0.00 on Oct 30, 2026, leaving 88,886 shares owned.
2026-10-224Insider transaction report (Form 4)
Director Aidan N. Gomez received an award of 807 Class A shares and had 420 shares withheld for taxes at $12.34, leaving 63,564 shares owned.
2026-10-224Insider transaction report (Form 4)
Director Schwartz received an award of 1,251 Class A common shares at $0.00 on 2026-10-20, leaving 214,253 shares owned directly.
2026-10-224Insider transaction report (Form 4)
Director Krafcik John received 1,251 shares of Class A Common Stock as a stock award on Oct 20, 2026, at $0.00 per share, raising his holdings to 80,644 shares.
2026-10-224Insider transaction report (Form 4)
Rivian director Krawiec Peter received a grant (A) of 928 Class A common shares at $0.00 on 2026-10-20, bringing his holdings to 28,486 shares.
2026-10-024Insider transaction report (Form 4)
Rivian officer Michael John Callahan sold 15,000 Class A common shares at $15 on Oct 1, 2026, leaving 1,001,776 shares.
2026-09-164Insider transaction report (Form 4)
Rivian officer Michael John Callahan sold 15,000 shares of Class A Common Stock at $16.2927 per share, leaving 1,016,776 shares owned.
2026-08-214Insider transaction report (Form 4)
On August 20, 2026, CFO Claire McDonough sold 8,023 Class A shares of Rivian at $16 each, retaining 819,178 shares.
2026-08-184Insider transaction report (Form 4)
On 2026-08-15, Chief Administrative Officer Michael John Callahan disposed of 42,082 Class A common shares in a tax withholding transaction (code F) at $15.36 per share, leaving 1,031,776 shares owned.
2026-08-184Insider transaction report (Form 4)
On 2026-08-15, Chief Accounting Officer Sreela Venkataratnam disposed of 20,297 Class A common shares via tax withholding (F) at $15.36 each, leaving 564,599 shares owned.
2026-08-184Insider transaction report (Form 4)
On August 15, 2026, CEO Robert Scaringe had 44,033 shares of Class A Common Stock withheld for tax purposes, at $15.36 per share.
2026-08-184Insider transaction report (Form 4)
On Aug 15-18, 2026, CFO Claire McDonough disposed of 38,640 shares withheld for taxes and sold 13,144 shares, for a total of 51,784 Class A shares reduced.
2026-07-224Insider transaction report (Form 4)
Director Aidan N. Gomez was awarded 769 Class A shares as compensation, then 343 shares were withheld to cover taxes at $17.45 per share. He now owns 63,177 shares.
2026-07-224Insider transaction report (Form 4)
Rivian director John Krafcik received a grant of 1,192 Class A shares on 2026-07-20, bringing his total holdings to 79,393 shares.
2026-07-224Insider transaction report (Form 4)
Rivian director Peter Krawiec received a grant of 884 Class A shares (A-Award) on 2026-07-20, bringing his total holdings to 27,558 shares. No cash was paid, as this was compensation, not a purchase.
2026-07-224Insider transaction report (Form 4)
Rivian director Sanford Harold Schwartz received a grant of 1,192 Class A shares on 2026-07-20, bringing his total ownership to 213,002 shares.
2026-07-084Insider transaction report (Form 4)
Karen Boone, a Rivian director, sold 20,000 shares of Class A Common Stock at $20 on 2026-07-06, leaving 110,000 shares owned afterward.
2026-06-234Insider transaction report (Form 4)
Rivian director Karen Boone was awarded 17,445 shares of Class A Common Stock on 2026-06-22 as compensation, bringing her total ownership to 115,794 shares.
2026-06-234Insider transaction report (Form 4)
Director John Krafcik was awarded 17,445 shares of Rivian Class A Common Stock at $0.00 (a grant, not a purchase), bringing his total holdings to 78,201 shares.
2026-06-234Insider transaction report (Form 4)
Director Aidan Gomez received 17,445 Class A shares as an award (A) and had 8,926 shares withheld for taxes at $16.26 (F). He held 45,306 shares after.
2026-06-234Insider transaction report (Form 4)
Rivian director Jay T. Flatley received a grant of 17,445 Class A shares on 2026-06-22, bringing his ownership to 179,515 shares.
2026-06-234Insider transaction report (Form 4)
Rivian director Peter Krawiec received a compensation grant of 17,445 Class A shares on 2026-06-22, bringing his total ownership to 26,674 shares.
2026-06-234Insider transaction report (Form 4)
Director Sanford Harold Schwartz was awarded 17,445 shares of Rivian Class A Common Stock on 2026-06-22, bringing his total ownership to 211,810 shares. This was a compensation grant, not an open-market purchase.
2026-06-054Insider transaction report (Form 4)
Rivian CFO Claire McDonough sold 8,022 shares of Class A Common Stock at $18, leaving 878,985 shares owned afterward.
2026-06-024Insider transaction report (Form 4)
Rivian CFO Claire McDonough sold 8,023 shares of Class A Common Stock at $16, leaving 887,007 shares owned.
2026-05-294Insider transaction report (Form 4)
Rivian CEO Robert Scaringe sold 34,818 Class A shares at $15 on 2026-05-28, leaving 922,286 shares owned afterward.
2026-05-224Insider transaction report (Form 4)
Rivian's Chief Accounting Officer, Venkataratnam Sreela, received a grant of 2,756 Class A shares, bringing their total holdings to 584,896 shares.
2026-05-224Insider transaction report (Form 4)
Rivian CFO Claire McDonough sold 7,600 shares of Class A Common Stock at $14 on 2026-05-21, leaving 895,030 shares owned afterward.
2026-05-224Insider transaction report (Form 4)
Rivian's Chief Administrative Officer Michael John Callahan was awarded 1,682 shares of Class A Common Stock on 2026-05-20, valued at $11.6705 per share, bringing his total holdings to 1,073,858 shares.
2026-05-194Insider transaction report (Form 4)
Rivian CAO Venkataratnam Sreela had 17,486 Class A shares withheld to cover taxes at $14.52 on 2026-05-15, leaving 582,140 shares owned.
2026-05-194Insider transaction report (Form 4)
Rivian director Aidan N. Gomez bought 18,000 Class A shares at $13.97 on May 15, 2026, and 3,752 shares were disposed at $14.52 for tax withholding. He held 54,232 shares afterward.
2026-05-194Insider transaction report (Form 4)
Rivian CEO Robert J. Scaringe had 44,034 Class A shares withheld to cover taxes at $14.52 on 2026-05-15, not an open-market trade. He now owns 957,104 shares.
2026-05-194Insider transaction report (Form 4)
Rivian CFO Claire McDonough had 38,640 Class A shares withheld for taxes at $14.52 on 5/15, then sold 5,544 Class A shares at $13.4346 on 5/18. Holdings after: 902,630 shares.
2026-05-194Insider transaction report (Form 4)
Rivian CAO Michael John Callahan had 42,082 Class A shares withheld to cover taxes on 2026-05-15 at $14.52/share, not an open-market sale. He now owns 1,072,176 shares directly.
2026-05-044Insider transaction report (Form 4)
Volkswagen AG bought 62,889,522 shares of Rivian Class A common stock on the open market at $15.90 per share on 2026-04-30, bringing its total ownership to 209,769,645 shares.
Transcripts
Earnings callsFY2026 Q12026-04-30
Earnings calls
AI summary
positiveRivian achieved a major milestone with the start of saleable R2 production at its Normal, Illinois facility, with initial employee deliveries underway. The company reported Q1 2026 revenue of $1.4 billion (11% YoY increase) with automotive gross profit of -$62 million, offset by strong Software and Services segment revenue of $473 million. Strategic capital secured includes $1 billion from Volkswagen Group and commitments from Uber totaling up to $950 million, plus a $4.5 billion DOE loan for Georgia facility expansion.
Key takeaways
- R2 production started in Normal with single shift, targeting 2 shifts by end of 2026; bill of materials approximately half that of R1 with non-BOM COGS reduction exceeding 50%
- Georgia plant capacity increased from 200,000 to 300,000 units in first phase, funded by $4.5B DOE loan; total capacity of 515,000 units expected to drive path to free cash flow positive
- Point-to-point autonomous driving capability expected by end of 2026, with Level 4 robotaxi deployment planned for 2028 in partnership with Uber across San Francisco and Miami initially
- 2026 delivery guidance maintained at 62,000-67,000 vehicles with back-half weighted R2 ramp; full-year adjusted EBITDA loss guidance of $1.8B-$2.1B unchanged
- Software and Services revenue grew 49% YoY to $473M in Q1, with Volkswagen joint venture representing 60% of segment revenue; Autonomy+ subscription exceeding internal take rate expectations
Financial highlights
- Q1 2026 consolidated revenue: $1.4 billion (11% YoY increase); automotive revenue: $908 million
- Q1 gross profit: $119 million (9% margin); automotive gross profit: -$62 million vs. $92 million in Q1 2025, primarily due to $100M decrease in regulatory credit sales
- Cash position: $4.8 billion at quarter end; expected 2026 capital from partners: $2.55 billion (Volkswagen $1B received, Uber $300M expected this quarter, additional tranches subject to milestones)
- Q1 production: 10,236 vehicles; deliveries: 10,365 vehicles; Software and Services gross profit: $181 million
Guidance
- Full year 2026 deliveries: 62,000-67,000 vehicles (R1, R2, and commercial vans combined with R1/EDV roughly flat YoY)
- Q2 2026 deliveries: 9,000-11,000 vehicles reflecting back-half weighted R2 ramp
- Adjusted EBITDA loss 2026: $1.8 billion to $2.1 billion
- Capital expenditure 2026: $1.95 billion to $2.05 billion; automotive gross profit positive by Q4 2026 and full year 2026 despite Q2-Q3 headwinds from R2 launch complexity
Q&A themes
- R2 cost structure and sourcing: BOM half that of R1 with confident supplier leverage and stable long-term contracts; non-BOM COGS reductions exceeding 50% from design for manufacturing and fixed cost efficiency
- Autonomy deployment timeline: Point-to-point capability end of 2026, eyes-off in 2027 for highway conditions, Level 4 robotaxi deployment 2028 with same core technology underpinning consumer personal vehicles
- Technology licensing opportunities: Volkswagen partnership deploying centralized compute architecture in ID.Buzz priced at $20K+; autonomy stack (RAP1 chip, perception stack, large driving model) positioned as scalable for other OEMs
- R2 demand signals: Early reception from media and customers overwhelmingly positive; Autonomy+ take rate exceeding internal expectations; commercializing point-to-point as major value driver
Risks
- R2 ramp complexity expected to negatively impact automotive gross profit in Q2-Q3 2026 before returning to positive trajectory in Q4
- Macro and geopolitical uncertainty cited as creating supply chain complexity, elevated costs, and uncertainty; tornado damage to Normal facility occurred but 2026 guidance unchanged
- Autonomous vehicle deployment dependent on milestone achievement with Uber for capital unlocks; full Level 4 consumer vehicle deployment timeline extends beyond robotaxi initial launch in 2028
FY2025 Q42026-02-12
Earnings calls
AI summary
positiveRivian achieved its first full year of positive gross profit in 2025 with $1.3+ billion improvement, driven by $9,500 per-unit COGS reduction and $5,500 ASP improvement. The company is months away from R2 customer deliveries at a $45,000+ starting price, targeting 62,000-67,000 total vehicles in 2026. Software and Services revenue is expected to grow 60% year-over-year, with the Volkswagen joint venture representing approximately 60% of segment revenue.
Key takeaways
- R2 first mass-market vehicle launching in Q2 2026 with dual-motor, 650+ hp, 300+ mile range Launch Edition; detailed pricing and trim options to be announced March 12
- 2025 full-year positive gross profit of $1.3+ billion with automotive COGS improvement of $9,500/unit year-over-year; Q4 COGS per unit was $92,000
- 2026 guidance: 62,000-67,000 vehicle deliveries (9,000-11,000 per quarter H1), adjusted EBITDA loss of $2.1-1.8 billion, CapEx of $1.95-2.05 billion for R2 tooling and Georgia plant construction
- Universal Hands-Free autonomy feature expanded to 3.5 million road miles; point-to-point capability and LiDAR integration with RAP1 chip planned for end of 2026; Gen 3 autonomy hardware for R2 coming early 2027
- Volkswagen Group joint venture delivering $2 billion capital in 2026 ($1 billion investment contingent on winter testing completion, $1 billion non-recourse debt in October); vehicles in winter testing across multiple VW Group brands
Financial highlights
- FY2025 full-year gross profit improvement of $1.3+ billion year-over-year; Q4 2025 consolidated revenue $1.3 billion with $120 million gross profit and 9% gross margin
- Average sales price improved $5,500 year-over-year in 2025 from Gen 2 quad models and higher mix; automotive COGS per unit improved $9,500 year-over-year
- Cash position of $6.1 billion at end of 2025; expect to receive additional $2 billion from Volkswagen in 2026 and additional $0.5 billion VW payment in 2027
- Software and Services segment: Q4 revenue $447 million with $179 million gross profit; expects 60% year-over-year growth in 2026 with mid-30% gross margins; VW joint venture represents approximately 60% of segment revenue
Guidance
- 2026 total vehicle deliveries: 62,000-67,000 units (9,000-11,000 per quarter H1); R1 and commercial van volumes expected roughly in line with 2025; R2 first customer deliveries in Q2 2026 ramping through year
- 2026 adjusted EBITDA loss guidance: $2.1-1.8 billion; includes step-up in R&D spend for autonomy, LiDAR development, RAP1 chips, and point-to-point functionality by year-end
- 2026 capital expenditures: $1.95-2.05 billion for R2 production tooling/construction completion, Georgia greenfield plant vertical construction, and sales/service/charging infrastructure expansion
- R2 production starting with single shift, second shift planned for late 2026, third shift planned for 2027; normal plant target of approximately 4,000 units per week long-term
Q&A themes
- R2 demand and pricing: Strong backlog demand; launch configuration is dual-motor all-wheel drive with premium trim; full pricing and trim portfolio details March 12; configuration opens for customer orders on March 12
- Autonomy and LiDAR: Gen 2 vehicles will receive point-to-point capability in 2026; Gen 3 hardware with LiDAR coming early 2027 for R2 only (not R1 retrofit); hands-off eyes-off capability targeting highway driving later in development
- Supply chain and ramp: Ramping supply base methodically to avoid bottlenecks; hiring for Normal plant shifts on track with sufficient candidate pool; Section 232 tariff offsets will provide further per-unit benefits in 2026
- Technology licensing and partnerships: VW relationship demonstrates platform scalability across price points and form factors; discussions ongoing with other manufacturers on potential licensing; RAP1 chip applications extending beyond vehicles to robotics
Risks
- 2026 expected to be transition year with automotive gross profit negatively impacted by R2 launch complexity in Q2-Q3 before becoming benefit in Q4; execution risk on production ramp and supply chain coordination across hundreds of component suppliers
- Raw material cost increases including lithium, DRAM and memory price volatility already reflected in 2026 adjusted EBITDA guidance; current supply chain backdrop factored into outlook
- R2 customer experience dependent on Gen 2 autonomy capabilities initially, with Gen 3 hardware delayed until early 2027; retrofit capability not planned for existing vehicles
FY2025 Q32025-11-04
Earnings calls
AI summary
positiveQ3 results showed $1.6B consolidated revenue and $24M gross profit, with automotive segment generating $1.1B revenue from 13,201 deliveries. The company reaffirmed 2025 guidance for 41,500-43,500 unit deliveries and $2.0-2.25B adjusted EBITDA loss. R2 production preparations are advancing with manufacturing validation builds expected by year-end 2025, positioning for first-half 2026 launch with limited volumes ramping through second half.
Key takeaways
- Q3 automotive COGS per unit improved to $96,300 despite multi-week shutdown, driven by material cost reductions and improved unit economics
- R2 Body Shop and General Assembly Building (1.1M sq ft) and Supplier Park/Logistics Center (1.2M sq ft) construction completed; equipment commissioning underway
- Normal facility capacity increased to 215,000 annual units; Georgia facility groundbreaking completed with 400,000 additional units planned across two phases
- Software and Services segment delivered strong quarter with $416M revenue and $154M gross profit, including $208M from Volkswagen Group joint venture
Financial highlights
- Q3 consolidated revenue: $1.6 billion; automotive revenue: $1.1 billion from 13,201 deliveries
- Q3 consolidated gross profit: $24 million; Software and Services gross profit: $154 million
- Q3 adjusted EBITDA loss: $602 million; automotive gross profit: negative $130 million
- Cash, equivalents and short-term investments: $7.1 billion; anticipated additional capital up to $2.5 billion from Volkswagen Group (with $2B expected in 2026)
Guidance
- 2025 delivery guidance: 41,500-43,500 units (reaffirmed)
- 2025 adjusted EBITDA loss: $2.0-2.25 billion (reaffirmed)
- 2025 capital expenditures: $1.8-1.9 billion (reaffirmed)
- 2025 full-year gross profit: expected to be roughly breakeven; R2 to achieve positive unit economics by end of 2026
Q&A themes
- Tariff impact improved significantly: Q3 impact was approximately $2,000 per vehicle; forward tariff exposure reduced to few hundred dollars per unit following Section 232 policy changes extending 3.75% MSRP offset to 2030
- Regulatory credit revenue eliminated from forecasts due to policy uncertainty; no meaningful regulatory credit revenues expected in 2025 or assumed for 2026
- R2 pricing strategy involves launch configuration as dual-motor variant positioned between base and premium tiers; full portfolio pricing and availability details to be shared at early 2026 event
- Mind Robotics established as separate company with $110M external seed financing; Rivian maintains shareholder stake and partnership focus on AI-enabled industrial robotics for manufacturing
Risks
- Near-term demand uncertainty from trade and tariff policy changes; October showed softer demand following September pre-credit pull-forward
- R2 ramp execution risk with limited volumes expected in first half 2026, requiring scaling through second half and into 2027 to reach 215,000 unit capacity
- Working capital expected to be cash-consuming in Q4 2025 and throughout 2026 as inventory builds for R2 ramp-up
FY2025 Q22025-08-05
Earnings calls
AI summary
mixedRivian reported Q2 automotive revenue of $927 million on 5,979 units produced and 10,661 delivered, with gross profit losses of $335 million driven by lower production volumes and supply chain disruptions. The company narrowed regulatory credit revenue expectations to $160 million from $300 million and now projects 2025 full-year gross profit near breakeven, raising adjusted EBITDA loss guidance to $2.0-2.25 billion. R2 development remains on track with 100% sourcing complete, design validation builds underway, and production targeting first half 2026 from the Normal, Illinois facility.
Key takeaways
- R2 bill of materials contractually negotiated to be approximately 50% lower than R1, with full sourcing confirmed and conversion costs expected below half of R1 levels
- Q2 COGS per vehicle increased ~$22,000 sequentially, primarily due to $14,000 fixed cost impact from production decline from 14,000 units in Q1 to 6,000 in Q2
- Regulatory credit revenue reduced to $160 million for 2025 (from $300 million prior) due to policy changes; tariffs expected to impact $2,000 per unit for remainder of 2025
- Software and services revenue of $376 million in Q2 with $129 million gross profit, driven by Volkswagen joint venture contribution and growth in remarketing, service, and charging
- R2 to achieve positive gross margin by exit of 2026 through lower cost structure and fixed cost absorption from existing Normal facility production
Financial highlights
- Q2 2025 automotive revenue: $927 million; consolidated revenue: $1.3 billion
- Q2 gross profit loss: $206 million (automotive: $335 million loss; software and services: $129 million profit)
- Adjusted EBITDA loss Q2: $667 million; full-year 2025 guidance: $2.0-2.25 billion loss (raised from prior outlook)
- Balance sheet strengthened: $1 billion Volkswagen equity investment at $19.42/share (33% premium); refinanced $1.25 billion senior secured notes at 10% due January 2031
Guidance
- 2025 delivery guidance maintained: 40,000-46,000 vehicles; CapEx guidance: $1.8-1.9 billion
- 2025 gross profit outlook: approximately breakeven (revised from prior guidance)
- Q3 2025 expected to be peak delivery quarter; Normal facility planned 3-week shutdown in September 2025 for R2 production preparation
- R2 production to begin first half 2026 from Normal facility with 155,000 annual unit capacity; Georgia facility construction to begin early 2026 with additional 200,000 unit capacity planned
Q&A themes
- R2 cost reduction driven by 50% lower bill of materials (contractually confirmed), simplified design for manufacturability, and shared fixed cost absorption with R1 and commercial vehicles at Normal facility
- Autonomy platform development emphasized as core differentiator; Gen 2 R1 vehicles deployed with enhanced highway assist and larger data flywheel; path to map-free, hands-off operation targeted for 2026
- 2027 EBITDA breakeven target remains achievable through R2 volume production, software and services scaling (including joint venture IP revenue), and supplier-driven tariff mitigation strategies
- R2 positioned as best-in-class 2-row SUV targeting $45,000-$50,000 price point with intent to attract non-EV customers; strong demand signals reported for R1 Quad-Motor launch and continued market leadership in premium SUV segments
Risks
- Regulatory credit revenue substantially reduced ($140 million swing) and now expected to be zero for H2 2025 due to policy changes; tariff environment remains uncertain with potential automotive tariff offset expiration April 2027
- Q2 production volume declined 57% sequentially to 5,979 units due to supply chain complexities and trade policy shifts; visibility into component availability claimed for remainder of 2025 but represents execution risk
- R2 launch represents execution risk on cost and production timeline; company dependent on achieving contractually negotiated supplier pricing and manufacturing efficiency targets to meet 2027 EBITDA breakeven objective amid competitive EV market pressure
FY2025 Q12025-05-06
Earnings calls
FY2024 Q42025-02-20
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Nov 15, 2026, 04:11 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Consumer Cyclical
- Industry
- Auto - Manufacturers
- Chief executive
- Robert Joseph Scaringe
- Employees
- 15,232
- IPO date
- Nov 10, 2021
- Country
- US
- Exchange
- NASDAQ Global Select
Altman Z-scorei-1.46
Piotroski scorei3/9
Overall ratingiD+
Owner earningsi-$341.35M-$0.27 per share
ESG risk ratingiBIndustry rank: 31/44
Rating factors
- Return on equityi
- 1/5
- Return on assetsi
- 1/5
- Debt to equityi
- 2/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
Rivian to Participate in Evercore ADAS, AV & AI ForumBusiness WireRivian to Participate at Upcoming Investor ConferencesBusiness WireRivian Announces CFO Transition PlanBusiness WireRivian Releases Second Quarter 2026 Financial ResultsBusiness WireRivian Automotive, Inc. Announces Pricing of Underwritten Public Offering of Common StockBusiness WireRivian Automotive, Inc. Announces Commencement of Underwritten Public Offering of Common StockBusiness Wire
Congressional disclosures
House
Daniel GoldmanSale (Full) · $15,001 - $50,000Disclosed: Apr 17, 2023Daniel GoldmanSale (Full) · $15,001 - $50,000Disclosed: Apr 17, 2023Daniel GoldmanPurchase · $15,001 - $50,000Disclosed: Feb 24, 2023Daniel GoldmanPurchase · $15,001 - $50,000Disclosed: Feb 24, 2023Daniel GoldmanPurchase · $15,001 - $50,000Disclosed: Feb 24, 2023
Market cap history
$17.61B+6.6%Oct 2026 – Nov 2026
Latest: $17.61B · 2026-11-13High: $20.26B · 2026-11-09Low: $16.53B · 2026-10-26
Shown from Oct 26, 2026: earlier points count a different number of shares and are left out.
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.02% | 31.9M |
| VB | 0.2% | 23.1M |
| VBK | 0.46% | 13.2M |
| ANNPX | 0.87% | 11.4M |
| VXF | 0.18% | 11.1M |
| FSMAX | 0.18% | 4.8M |
| JTEK | 1.35% | 3.9M |
| E127.L | 0.48% | 3.7M |
| IWR | 0.1% | 3.6M |
| FSMDX | 0.1% | 3.4M |
| NIZ | 0.1% | 3.1M |
| FBGKX | 0.04% | 2.7M |
Analyst track record
How the analysts covering RIVN have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 144 | 495 |
| Analysts | 27 | 41 |
| Buy / hold / sell | 56 / 55 / 33 | 178 / 242 / 75 |
| Upgrades / downgrades / initiations | 10 / 4 / 3 | 12 / 20 / 9 |
| Price targets hit / missed | 14 / 129 (10%) | 100 / 369 (21%) |
| Avg. return after a rating (TipRanks) | -21.4% | -11.3% |
| Best / worst call | +60.0% / -48.8% | +109.8% / -64.4% |
After buy calls on this stock: median 21-day move +0.5% vs S&P 500 -0.9% (n = 189)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Stephen GengaroStifel Nicolaus80% hit rate on this stock · 15 targets measuredBuytarget $22.00Nov 12, 2026
- Chris PierceNeedham71% hit rate on this stock · 14 targets measuredBuytarget $18.00Oct 30, 2026
- Chris McNallyEvercore ISI63% hit rate on this stock · 8 targets measuredBuytarget $18.00Oct 30, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 12, 2026 | Stephen GengaroStifel NicolausNov 12, 2026 | BuyMaintained | $22.00↗ | article ↗ |
| Nov 9, 2026 | Stephen GengaroStifel NicolausNov 9, 2026 | BuyReiterated | $22.00 | |
| Nov 6, 2026 | Michael ShliskyD.A. DavidsonNov 6, 2026 | HoldMaintained | $15.00↗ | article ↗ |
| Nov 2, 2026 | Joseph SpakUBSNov 2, 2026 | BuyUpgraded | $17.00↗ | article ↗ |
| Nov 2, 2026 | Alexander PerryBank of America SecuritiesNov 2, 2026 | SellMaintained | $14.00↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 144 ratings
Frequently asked questions
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Rivian Automotive, Inc. (RIVN) perpetual futures trade on 18 crypto venues, including LBank, Binance, Ourbit. PerpEquities compares them by live price, funding rate, open interest and liquidity.
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