RIVN Rallies After-Hours On Q1 Beat While Investors Pile Into R2 Story

Shares of Rivian Automotive (RIVN) rose 2% after hours on Thursday after the company reported lower than expected first quarter loss, as it gears up to begin deliveries of its mass market R2 SUV aimed at propelling the company towards profitability.

The company reported a Q1 loss of $0.33, lower than an estimated loss of $0.60. The company’s revenue for the three months through the end of March came in at $1.38 billion, up from the $1.24 billion reported in the corresponding quarter of 2025, and above the $1.37 billion expected by Wall Street

Rivian said on Thursday that it commenced production of the R2 SUV, with a starting price of $45,000, last week at its facility in Normal, Illinois. Deliveries of the new vehicle, aimed at expanding Rivian’s total addressable market and run up to profitability, are expected to commence in the “coming weeks,” the company said.

For the whole of 2026, Rivian now expects to deliver 62,000-67,000 vehicles, up from the 42,247 vehicles delivered in 2025.

Adjusted core loss is expected to be between $2.10 billion and $1.80 billion, lower at the midpoint than an analyst estimate of a loss of $2 billion. Capital expenditures, meanwhile, are slated to rise from $1.7 billion in 2025 to be in the range of $1.95 billion to $2.05 billion. 

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