Rivian reports $837 million Q2 loss despite 27% revenue growth to $1.66 billion, fueling investor concerns over profitability.
Rivian (NASDAQ: RIVN) shares have collapsed 87% since its November 10, 2021 IPO, reflecting deepening investor skepticism despite recent delivery growth. The company delivered 12,194 vehicles in Q2, with annual guidance set at 65,000-70,000 units, boosted by its new R2 model.
Revenue rose 27% year-over-year to $1.66 billion, but losses narrowed only marginally to $837 million from $1.12 billion in the same period last year. Earlier this year, Rivian raised $1.3 billion through a share sale, diluting existing investors.
CEO RJ Scaringe called the R2 a “game changer” for long-term growth, though evidence of its impact remains limited. The stock’s decline underscores persistent doubts about Rivian’s path to profitability.