Rivian reports smaller Q1 loss than expected, reaffirms outlook; DOE loan shrinks for Georgia plant but capacity rises

April 30, 2026 - 20:32

Rivian reported its first-quarter earnings after the market closed on Thursday, posting a smaller-than-expected loss as the electric vehicle maker pushes forward with the launch of its highly anticipated R2 midsize SUV while working to control its cash burn.

The company reported an adjusted loss of $1.24 per share, beating analyst estimates of a $1.41 per share loss. Revenue came in at $1.2 billion, slightly above expectations. Rivian also reaffirmed its full-year production guidance of 57,000 vehicles, signaling confidence in its ability to ramp up output despite ongoing supply chain pressures.

In a separate development, the Department of Energy has revised its loan terms for Rivian's planned Georgia factory. The loan amount was reduced, but the facility's projected annual capacity was increased. The company said the adjusted loan reflects a more efficient plant design that will allow it to build more vehicles with less capital. Rivian expects the Georgia plant to eventually produce up to 400,000 vehicles per year, up from earlier estimates of 300,000.

The R2, a smaller and more affordable SUV, is central to Rivian's growth strategy. The vehicle is expected to start at around $45,000, significantly less than the current R1T pickup and R1S SUV. Rivian said it has already received strong preorder interest for the R2, though production is not expected to begin until 2026.

Rivian ended the quarter with $7.86 billion in cash and equivalents, down from $9.37 billion at the end of last year. The company continues to burn cash as it invests in new models and factory expansions, but executives said they are on track to achieve positive gross profit by the end of 2024. Shares rose in after-hours trading following the earnings release.