Rivian Automotive
Financial Performance
Rivian Automotive Revenue & Financials
Revenue
$5.4B (FY2025)
Market Cap
$22B
Employees
15,232
What is Rivian Automotive's revenue?
Rivian Automotive had $5.4B in revenue for fiscal year 2025, up 8.4% from 2024. It reported a net loss of $3.6B.
- Latest revenue
- $5.4B (FY2025)
- Year-over-year
- +8.4%
- Growth rate (CAGR)
- 214.6% over 4 years
- Peak revenue
- $5.4B (FY2025)
- Years of data
- 5
- Employees
- 15,232
- What is Rivian Automotive's operating income?
- Rivian Automotive reported an operating loss of $3.6B for fiscal year 2025. sec.gov
- How much profit does Rivian Automotive make?
- Rivian Automotive reported a net loss of $3.6B for fiscal year 2025. sec.gov
- How many employees does Rivian Automotive have?
- Rivian Automotive has about 15,232 employees.
Financial Analysis
Rivian went public in November 2021, raising about $11.9B at $78 per share, then lost $6.75B in 2022 as production ramped slowly. Losses have narrowed each year since: $5.43B in 2023, $4.75B in 2024 and $3.65B in 2025, when the company posted positive full-year gross profit. Q2 2026 gross margin reached 11%, but automotive gross profit was still negative $36M and free cash flow was negative $849M as R2 inventory built up. Cash and short-term investments were $5.31B at June 30, 2026, before a roughly $1.3B follow-on share sale in July. Rivian Automotive, Inc. is a major American electric vehicle manufacturer and automotive technology company, experiencing a highly volatile market valuation hovering around $10 billion.
Revenue Trend Analysis
YoY Change
+8.4%
4-Year CAGR
+214.6%
Peak Year
2025
Trend
Consistent Growth
Rivian Automotive has 5 full fiscal year figures on this page, compounding at +214.6% annually over 4 years. The most recent year saw a 8.4% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $5.4B. Of 4 comparable year-over-year steps, 4 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $5.4B | -$3.6B | -$3.6B | +8.4% | Rivian Automotive, Inc. / DE annual report (Form 10-K, SEC EDGAR, filed 2026-02-12) Fiscal year ended 2025-12-31. |
| FY2024 | $5B | -$4.7B | -$4.7B | +12.1% | Rivian Automotive, Inc. / DE annual report (Form 10-K, SEC EDGAR, filed 2026-02-12) Fiscal year ended 2024-12-31. |
| FY2023 | $4.4B | -$5.7B | -$5.4B | +167.4% | Rivian Automotive, Inc. / DE annual report (Form 10-K, SEC EDGAR, filed 2026-02-12) Fiscal year ended 2023-12-31. |
| FY2022 | $1.7B | -$6.9B | -$6.8B | +2914.5% | Rivian Automotive, Inc. / DE annual report (Form 10-K, SEC EDGAR, filed 2025-02-24) Fiscal year ended 2022-12-31. |
| FY2021 | $55M | -$4.2B | -$4.7B | — | Rivian Automotive, Inc. / DE annual report (Form 10-K, SEC EDGAR, filed 2024-02-26) Fiscal year ended 2021-12-31. |
Click any row to see year details.
Rivian Automotive balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | -$779M | $1.7B | $14.9B | $10.3B | — | -$2.5B | Form 10-K |
| FY2024ended Dec 31, 2024 | -$1.7B | $1.1B | $15.4B | $8.8B | — | -$2.9B | Form 10-K |
| FY2023ended Dec 31, 2023 | -$4.9B | $1B | $16.8B | $7.6B | $9.1B | -$5.9B | Form 10-K |
| FY2022ended Dec 31, 2022 | -$5.1B | $1.4B | $17.9B | $4.1B | $13.8B | -$6.4B | Form 10-K |
| FY2021ended Dec 31, 2021 | -$2.6B | $1.8B | $22.3B | $2.8B | $19.5B | -$4.4B | Form 10-K |
Keep researching Rivian Automotive
Rivian Automotive Revenue and Financial FAQ
What was Rivian's revenue trajectory from 2021 to 2024?
Rivian grew revenue from $55 million in 2021 (initial deliveries) to $1.66 billion in 2022, and surged to $4.43 billion in 2023, delivering over 50,000 vehicles as factory production ramped in Normal, Illinois.
How much cash and liquidity does Rivian hold on its balance sheet?
As of mid-2024, Rivian held approximately $7.9 billion in cash, cash equivalents, and short-term investments, bolstered by the phased $5 billion capital commitment from Volkswagen Group, providing sufficient runway through the R2 launch in 2026.
What are the key terms of the $5 billion Volkswagen investment in Rivian?
Volkswagen agreed to invest an initial $1 billion via an unsecured convertible note in 2024, followed by $1 billion in direct Rivian equity in 2025 and 2026, and $2 billion tied directly to the creation and milestones of the software joint venture through 2026.
Why did Rivian experience severe negative gross profit in its early production years?
Rivian absorbed massive fixed manufacturing overhead, underutilized factory capacity in Normal, IL, expensive early battery pack architectures, and severe commodity inflation during COVID-19 supply crunches, losing over $30,000 to $40,000 per vehicle delivered in 2022-2023.
How does the Generation 2 (Gen 2) R1 platform lower production costs?
Introduced in mid-2024, the Gen 2 platform re-engineered the vehicle: reducing electronic control units (ECUs) from 17 down to 7 zonal computers, removing 10 miles of wiring harness (shedding 44 pounds of wire), introducing high-pressure die-cast structural components, and adopting cost-effective LFP battery packs.
When does Rivian project achieving positive gross profit?
Rivian management targeted achieving positive gross profit per vehicle by late 2024 / early 2025, driven by Gen 2 cost downs, supplier price reductions, lower raw lithium costs, and higher commercial van delivery efficiency.
How many vehicles can Rivian produce annually at its Normal, Illinois factory?
Following plant retooling in early 2024, the Normal facility has an upgraded maximum annual capacity of 215,000 vehicles (divided across R1T, R1S, commercial delivery vans, and the upcoming R2 midsize line).
How much capital expenditure did Rivian save by moving initial R2 production to Normal?
Pausing the Georgia factory construction and utilizing available capacity at the Normal plant saved Rivian an estimated $2.25 billion in near-term capital expenditure (capex), significantly lowering its immediate cash burn.
What is Rivian's debt structure and obligations?
Rivian holds long-term convertible senior notes issued in 2023 (raising ~$1.5 billion in green convertible notes due in 2029 and 2030), maintaining manageable near-term debt maturities with no significant debt walls prior to 2026.
What are Rivian's annual research and development (R&D) expenses?
Rivian invests approximately $1.5 billion to $2.0 billion annually in R&D, funding proprietary zonal software, battery chemistry research, custom electric motors (Enduro), and autonomous driving perception algorithms.
What is Rivian's stock market capitalization compared to its IPO peak?
After reaching a peak market cap above $120 billion shortly after its November 2021 IPO, Rivian's valuation contracted to between $12 billion and $18 billion in 2024 as broader EV sector multiples compressed and investors prioritized profitability over pure unit growth.
How does Rivian's cash position compare to EV competitors Lucid and Polestar?
Rivian holds a substantially larger cash reserve ($7.9B+ liquidity plus $5B VW deal) than competitors Lucid (reliant on Saudi PIF cash injections) and Polestar (reliant on Geely credit lines), giving Rivian the strongest non-Tesla balance sheet among pure-play Western EV makers.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Rivian Automotive Revenue & Financials." CorpDigest, https://corpdigest.com/company/rivian-automotive/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Rivian Automotive reported $5.4B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/rivian-automotive/financials" target="_blank" rel="noopener">CorpDigest — Rivian Automotive financials</a></div>Related Financial Audits
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