Rivian reports Q1 2026 revenue of $1.38 billion and a $119 million gross profit, marking its first profitable quarter amid cost cuts.
Rivian Automotive reported $1.38 billion in revenue for Q1 2026, meeting market expectations as it ramped up deliveries of its R1T and R1S models. The company achieved a $119 million gross profit, reflecting a 9% gross margin, driven by software services and manufacturing efficiencies.
The results follow Amazon’s $700 million initial investment in 2019 and a subsequent $2.5 billion funding round in 2021, part of a broader partnership to decarbonize Amazon’s delivery fleet. Rivian’s cost reductions stem from a simplified electrical architecture and renegotiated component sourcing agreements.
Shares showed muted reaction in after-hours trading as investors digested the first profitable quarter under the new production cycle.