Rivian Automotive (NASDAQ:RIVN) narrowed its losses in the fourth quarter, outpacing analyst expectations as cost-cutting measures helped improve margins. However, the EV maker’s forecast for lower deliveries in 2025 tempered investor enthusiasm. As a result, shares dropped more than 5% intra-day today.
For Q4, Rivian reported a loss of $0.70 per share, beating estimates of a $0.77 loss. Revenue came in at $1.73 billion, far exceeding the $1.35 billion forecast. The company posted a gross profit of $170 million, attributing the improvement to lower variable costs, increased revenue per vehicle, and better fixed-cost efficiencies.
Rivian also finalized its joint venture with Volkswagen and secured a loan from the U.S. Department of Energy, unlocking up to $10 billion in additional capital, strengthening its financial position for future expansion.
In Q4, Rivian delivered 14,183 vehicles, bringing full-year 2024 deliveries to 51,579. However, for 2025, the company expects deliveries between 46,000 and 51,000, signaling a potential slowdown. It also projects an adjusted EBITDA loss between $1.7 billion and $1.9 billion for the year.