Rivian revenue rises 38% as R2 becomes its best-seller
The electric carmaker beat analyst expectations and raised its 2026 guidance, though its car business is still losing money.
Key facts
Story- Rivian reported Q3 2026 revenue of $2.155 billion, up 38% year on year.
- The R2 became Rivian's best-selling vehicle in its first full quarter of deliveries.
- Rivian raised its 2026 guidance on every metric, but its automotive margin worsened.
In this story
Product
R2
Mentioned in this story
Rivian reported third-quarter 2026 earnings with revenue of $2.155 billion, up 38% from a year earlier. The electric carmaker said the results beat Wall Street's expectations, and it raised its guidance for 2026 on every metric.
The standout product was the R2, which went on sale in its first full quarter of deliveries. The R2 is now Rivian's top seller, ahead of the R1 and the Amazon van. Rivian's R2 is a smaller, lower-priced model that competes with the Tesla Model Y.
Margins still under pressure
The carmaker is not yet profitable on its vehicles. The R2 ramp pushed the automotive margin lower this quarter, meaning each car earned less after costs. Rivian's car business is still losing money.
The company's growing sales show demand is strong, but the financial picture remains mixed. Investors will watch whether the margin improves as production of the R2 increases.
For buyers in India, the news has little direct impact, as Rivian does not sell cars in the country. The results do show how quickly new affordable electric models can gain traction in global markets.
Rivian has not said when it expects its car business to become profitable. Its next update will show whether the higher guidance holds.
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