Rivian 2026 financial and operational performance

Rivian cuts 2026 capex, narrows loss guidance as R2 deliveries begin

Rivian sold 86.25 million Class A shares in a follow-on offering.

In July 2026, Rivian sold 86.25 million Class A shares in a follow-on offering, raising approximately $1.3 billion.

The capital raise came as Rivian began deliveries of its R2 SUV in June 2026, the company's first vehicle priced under $50,000. In the same quarter, Rivian reported a gross profit of $179 million, turning from a $206 million loss a year earlier.

Rivian also reaffirmed its 2026 delivery target of 65,000 to 70,000 vehicles and narrowed its adjusted loss guidance to $1.8 billion to $2.0 billion.

Rivian began delivering its R2 SUV.

Rivian began delivering its R2 SUV in June 2026, according to company statements. The R2 is the company's first vehicle priced under $50,000, targeting a broader market segment.

In the second quarter of 2026, Rivian produced 12,613 vehicles and delivered 12,194, including the R2. The company reported Q2 2026 automotive revenue of $1.14 billion, up 23% year-over-year. The launch of the R2 absorbed roughly $100 million in extra cost of revenue from ramping production.

Rivian reaffirmed its 2026 delivery target of 65,000 to 70,000 vehicles, with 22,559 delivered in the first half. To meet the target, it needs to deliver roughly 42,000 to 47,000 in the second half. The company also narrowed its adjusted loss guidance and reduced capital expenditure guidance.