Follow Us "Rivian Stock Edges Up After Hours On First Quarterly Gross Profit, Retail Shrugs Off Weak Sales Outlook")
CEO R.J. Scaringe noted that the R2 bill of materials is about 95% sourced and expected to cost roughly half that of the improved R1.
Shares of Rivian Automotive, Inc. rose 0.4% in Thursday's after-hours trading, boosting retail traders' confidence. The electric vehicle maker reported its first-ever quarterly gross profit, a key milestone for investors and analysts.
Rivian posted a gross profit of $170 million for the fourth quarter of 2024, driven by improvements in variable costs, revenue per delivered unit, and fixed costs. The company expects these factors to support "modest" gross profitability in 2025.
It reported an adjusted Q4 loss of $0.70 per share, beating estimates of a $0.77 loss, while revenue of $1.73 billion exceeded expectations of $1.43 billion.
The company attributed record Q4 revenue to higher sales of regulatory credits, growth in software and services revenue, and increased R1 average selling prices with the expanded availability of its Tri-Motor offering.
In the quarter, Rivian produced 12,727 vehicles and delivered 14,183. For the full year, it produced 49,476 vehicles and delivered 51,579 but guided 2025 deliveries to between 46,000 and 51,000.
On Stocktwits, Rivian was among the top-trending stocks late Thursday, with message volume surging over 360% in 24 hours.
Retail traders remained overwhelmingly bullish despite the stock trimming most of its early after-hours gains.
One user suggested investors focus on Rivian minimizing losses and improving efficiency rather than prioritizing delivery numbers, while another highlighted its preparations for R2 production and expansion into Europe.
Rivian forecasted a 2025 adjusted EBITDA loss between $1.7 billion and $1.9 billion, improving from a $2.69 billion loss in 2024.
However, the company acknowledged potential external risks, including policy changes, regulatory shifts under the Trump administration, and a challenging demand environment.
CEO R.J. Scaringe reiterated Rivian's focus on cost efficiency ahead of the R2 launch, noting that the R2 bill of materials is about 95% sourced and expected to cost roughly half that of the improved R1.
"I couldn't be more excited about R2, and I believe the combination of capabilities and cost efficiencies along with the amazing level of excitement from customers will make R2 a truly transformational product for Rivian," he added.
Rivian's after-hours trading volume exceeded 53 million shares, about 1.4 times its daily average.
This year, the stock has gained nearly 2%, underperforming the S&P 500.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
