Overview
- The company reported second-quarter results on Thursday, July 30, with revenue up 27% to about $1.66 billion and a record $179 million consolidated gross profit.
- Rivian produced 12,613 vehicles and delivered 12,194 in Q2 but declined to disclose how many R2 midsize SUVs it built or delivered, leaving R2-specific counts opaque to the market.
- Management said reservation-to-order conversion for the $57,990 R2 Performance/Launch trim exceeded internal expectations while confirming mid and base trims will not be widely available until early 2027.
- Owners and reviewers logged five early R2 quality problems covering paint, exterior lighting software, high-voltage battery hardware, charging equipment and cabin components, and some deliveries were delayed for inspection or replacement.
- Software and services revenue rose to $515 million, with $308 million from the Volkswagen JV, and Rivian has raised equity and lined up loans and investments to fund a heavy back-half ramp that depends on supplier progress and a successful Q4 scale-up.