🔹 Revenue: $1.24B (Est: $981.2M) 🟢
🔹 Adj Gross Profit: $206M (vs. -$527M YoY)
🔹 Adj EBITDA: -$329M (vs. -$798M YoY)
🔹 Cash & Equivalents: $4.69B (Est: $5.3B) 🔴
🔹 Net Loss: -$545M (vs. -$1.45B YoY)
🔹 Gross Margin: +17% (vs. -44% YoY)
2025 Guidance
🔹 FY Deliveries: 40K–46K (Prior: 46K–51K) 🔴
🔹 FY Adj EBITDA Loss: ($1.7B) to ($1.9B)
🔹 FY Capex: $1.8B–$1.9B (Prior: $1.6B–$1.7B) 🔴
Operational Highlights
🔸 Production: 14,611 vehicles | Deliveries: 8,640
🔸 Secured $1B investment from VW Group (expected June 30)
🔸 Completed 36K+ demo drives in Q1, record for the company
🔸 R2 development on track; first-half 2026 production timeline affirmed
🔸 Partnered with HelloFresh (70 Rivian vans deployed)
🔸 CEO notes ~$3,000 tariff impact per vehicle
🔸 Hosting AI Day and expanding fleet partnerships