Rivian has delivered a strong third quarter in 2025, surpassing Wall Street’s expectations with both higher revenue and improved profitability.
According to the automaker’s Q3 2025 financial report, revenue came in at $1.56 billion, up 78 percent from a year earlier, only its second quarterly gross profit to date. The company delivered 13,201 vehicles during the quarter, marking what Rivian expects will be its highest delivery total for the year.
Automotive revenue climbed to $1.14 billion, a 47 percent year-over-year increase, while software and services revenue jumped 324 percent to $416 million, supported by its partnership with Volkswagen and growing post-sale and connectivity offerings.
With the strong numbers, Rivian reaffirmed its 2025 guidance, projecting vehicle deliveries between 41,500 and 43,500 units. The company also confirmed that its upcoming R2 SUV remains on schedule, with validation builds set to begin at the end of 2025 and initial deliveries expected in the first half of 2026.
Rivian ended the quarter with $7.7 billion in total liquidity, including $7.1 billion in cash, cash equivalents, and short-term investments—resources that Scaringe said leave the company “really well positioned” for the R2 launch.
The company’s strong performance was partly driven by a rush of U.S. buyers taking advantage of federal EV tax incentives before their expiry, though demand should soften in the months ahead.
Canada received a notable mention in Rivian’s shareholder letter, with the company highlighting the deployment of the first Amazon Rivian electric delivery vans (EDV) in Canada last month.
