Rivian's Q3 revenue beats estimates on R2 model demand; raises 2026 guidance for car deliveries
RIVN•Rivian's third-quarter revenue rose 38% year over year to $2.16 billion, beating the $1.98 billion estimate, while deliveries increased 46% to 19,248. The company raised its 2026 delivery guidance to 67,000–70,000 vehicles and expects adjusted EBITDA of negative $1.85 billion to negative $1.75 billion.
1. Revenue and deliveries
Rivian reported third-quarter revenue of $2.16 billion, up 38% year over year and above the $1.98 billion analyst estimate. The company delivered 19,248 vehicles, a 46% increase, with the R2 its best-selling model by volume.
2. Updated 2026 outlook
Rivian raised its 2026 delivery guidance to 67,000–70,000 vehicles from 65,000–70,000. It now expects adjusted EBITDA of negative $1.85 billion to negative $1.75 billion and forecast capital expenditures of $1.40 billion–$1.50 billion, below its prior midpoint.
3. Revenue drivers
Revenue included $81 million in regulatory credits, of which $80 million was in the automotive segment. Software and services revenue rose 45% year over year, helped by its joint venture with Volkswagen and Autonomy+. Rivian shares rose more than 5% in after-hours trading.
