Rivian Trims Losses as R2 SUV Sales Drive Revenue Growth

Production of the R2 model, which reached customers starting in June, served as the primary catalyst for the company’s recent performance. Rivian reported a record 19,248 vehicle deliveries between July and September, with the R2 accounting for the bulk of the quarter-over-quarter gains. This surge in volume, paired with a boost from regulatory credit sales and an IEEPA tariff refund, helped the company outperform Wall Street expectations.

Looking toward 2026, the company adjusted its financial targets to reflect improved delivery forecasts and reduced capital expenditure. Management now expects a pre-tax adjusted loss between $1.75 billion and $1.85 billion—a $100 million improvement from previous estimates. By raising its delivery guidance to a range of 67,000 to 70,000 units while trimming planned capital spending to $1.4 billion–$1.5 billion, Rivian aims to stabilize its balance sheet as it scales its entry-level SUV lineup.