Rivian narrows losses, targets R2 deliveries in Q2 2026

EV maker reports improved financial performance and plans to launch new R2 model next quarter.

Published on Feb. 13, 2026

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Rivian Automotive reported full-year gross profit and said customer deliveries of the R2 electric vehicle are slated for the second quarter of 2026. The company's net loss narrowed to $3.64 billion from $4.74 billion in the prior year, while full-year consolidated revenue rose 8% to $5.38 billion.

Why it matters

Rivian's improved financial performance and upcoming R2 model launch are significant milestones for the electric vehicle startup, which has faced production challenges and high costs in recent years. The R2 is a critical new product that will help Rivian expand its customer base and compete more effectively against established automakers in the EV market.

The details

Rivian recorded consolidated gross profit of $144 million in 2025, reversing a $1.2 billion gross loss a year earlier. Automotive revenue fell 15% to $3.83 billion, while software and services revenue surged 222% to $1.55 billion. The company attributed the swing to gross profit to improved software and services performance, higher average selling prices and lower cost per vehicle. Rivian said R2 manufacturing preparations remain on schedule, with initial validation builds completed in mid-January 2026 using production tools at the Normal, Illinois facility.

  • Rivian reported full-year 2025 results.
  • The company said R2 deliveries are slated for the second quarter of 2026.
  • Initial R2 validation builds were completed in mid-January 2026.

The players

Rivian Automotive

An American electric vehicle manufacturer that produces electric pickup trucks and SUVs.

RJ Scaringe

Founder and CEO of Rivian.

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What they’re saying

“In 2025 we focused on execution as we laid the foundation for dramatically scaling our business. Our Autonomy & AI Day in December unveiled our RAP1 Autonomy Processor, our autonomous driving platform and our AI-driven in-car Rivian Assistant. It's incredibly exciting to see the early strong reviews of the R2 pre-production builds, and we can't wait to get them to our customers next quarter.”

— RJ Scaringe, Founder and CEO (Yahoo Finance)

What’s next

Rivian plans to provide further details on the R2 launch model on March 12, 2026.

The takeaway

Rivian's improved financial performance and upcoming R2 model launch demonstrate the company's progress in overcoming early production challenges and positioning itself as a serious competitor in the electric vehicle market.