Rivian Reports Strong Q4 Results, Narrows Loss Guidance for 2025

Rivian Automotive (RIVN) released impressive fourth-quarter results, exceeding expectations and achieving a "gross profit" for the period.

Financial Performance

* Gross profit of $170 million, driven by improved costs and higher revenue per unit
* Adjusted loss per share of $0.46, better than consensus estimate of $0.65
* Adjusted EBITDA loss of $277 million, narrower than the anticipated $399.8 million

Production and Deliveries

* Produced 12,727 vehicles and delivered 14,183 vehicles in Q4
* Produced 49,476 vehicles and delivered 51,579 vehicles in 2024

Future Outlook

* Forecasts 2025 full-year adjusted EBITDA loss between $1.7 billion and $1.9 billion
* Expects vehicle deliveries between 46,000 and 51,000 in 2025
* Targeting a significant reduction in automotive cost of goods sold per vehicle delivered in Q4 2024 compared to Q4 2023

Partnerships and Capital

* Expanded partnership with Volkswagen (VWAGY) for the launch of Rivian's R2 SUV in 2026
* Secured a "conditional commitment" for a $6.6 billion loan from the Department of Energy (DOE) to support plant construction
* Opened up orders for its EDV commercial delivery van

Regulatory Landscape

* Status of federal EV tax credit remains uncertain, potentially impacting pure-play automakers like Rivian
* Company expects lower deliveries in Q1 due to seasonality and wildfires in California

Stock Performance

* Rivian stock initially rose over 3% after-hours but later pared some gains