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Rivian stock rises 15% as automaker tops Q4 expectations, targets significant production increase

Rivian expects 62,000-67,000 vehicle deliveries in 2026 despite adjusted losses of up to $2.1 billion as it launches the critical R2 mass-market SUV.

  • On Thursday, Rivian beat Wall Street's expectations and published its shareholder letter and earnings report, warning it will continue losing money as it launches the R2 next-generation vehicle.
  • At the same time, software and services revenues surged by more than 100% in Q4 to $447 million, supporting the quarter's strength, while automotive revenues declined due to a $270M regulatory credit sales decrease.
  • Rivian built 10,974 vehicles in Q4 2025, delivered 9,745, and the full‑year 2025 deliveries totaled 42,247, with Q4 revenue at $5.29 billion.
  • Heavy insider selling and analyst downgrades have weighed on sentiment, with investors seeking clarity on gross margin trajectory and R2 execution, as UBS and Wolfe Research set targets and downgrades in recent weeks.
  • The company is guiding to 62,000–67,000 deliveries in 2026 and expects adjusted losses of-$1.8 billion to-$2.1 billion with capital expenditures of $1.95 billion to $2.05 billion.
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Shares of the American manufacturer rose more than 21% before the market opened on Friday; the forecast is to deliver between 62,000 and 67,000 vehicles this year.

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Benzinga broke the news in New York, United States on Thursday, February 12, 2026.
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