Rivian’s Stock Slips Despite Record-Breaking Q4 Revenue

Rivian Automotive, the upstart US electric vehicle maker, saw its stock dip 3% in premarket trading on Friday, despite delivering its strongest quarter yet. The automaker reported record Q4 revenue, driven by robust regulatory credit sales and an uptick in software and services income. The company also increased its R1 average selling prices, buoyed by the expansion of its Tri-Motor lineup.  

In a positive sign for its financial health, Rivian trimmed its quarterly adjusted EBITDA loss compared to the previous year and even posted a gross profit for the quarter. Production at its Normal, Illinois facility remained solid, with 12,727 vehicles rolling off the line and 14,183 delivered—surpassing analyst expectations. For the full year, Rivian produced 49,476 vehicles and delivered 51,579, hitting its guidance.  

A key supply chain issue that previously disrupted production—linked to a shared component on the R1 and RCV platforms—has been resolved, removing a major bottleneck. Meanwhile, the company is sharpening its focus on cost efficiencies as it gears up for the highly anticipated launch of its mass-market R2 model.  

What Does This Mean for Me?

Looking ahead, Rivian projects 2025 deliveries between 46,000 and 51,000 vehicles, with adjusted EBITDA expected to land between -$1.7 billion and -$1.9 billion. The stock’s reaction suggests investors remain cautious, keeping an eye on ever-shifting market conditions and Rivian’s path to profitability.