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Material event since the last analyzed call: CFO Claire McDonough to resign October 30 to pursue a new opportunity (Aug 27, 2026). See corporate events below.
Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
In the first quarter of 2026 Rivian began saleable R2 production in Normal, a landmark milestone, and grew consolidated revenue about 11% to approximately $1.4 billion with $119 million of gross profit at a 9% margin.
PositiveStart Of Saleable R2 Production
PositiveRevenue Growth And Positive Gross Profit
PositiveUber Robotaxi Partnership And Georgia Expansion
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
7%
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for Rivian Automotive, Inc. (RIVN), FY2026 Q1: 7/10. Scores: Rivian Automotive, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: RIVN daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Quarter in detail
· FY2026 Q1
Macro Signals
↓Regulation Policy↑AI & Tech↑Trade & Tariffs
In the first quarter of 2026 Rivian began saleable R2 production in Normal, a landmark milestone, and grew consolidated revenue about 11% to approximately $1.4 billion with $119 million of gross profit at a 9% margin. Automotive gross profit was a $62 million loss on a $100 million decrease in regulatory-credit sales and lower volumes, while software and services revenue rose 49% to $473 million and early Autonomy+ take rates exceeded management's models. Rivian announced an Uber robotaxi partnership, raised first-phase Georgia capacity to 300,000 units backed by a $4.5 billion Department of Energy loan, and absorbed a tornado at the Normal factory without changing 2026 guidance. Cash fell to about $4.8 billion as the company invests behind the R2 ramp and autonomy.
Key Themes7
positive📊 company
Start Of Saleable R2 Production
Rivian began saleable R2 production in Normal with initial employee deliveries, a landmark milestone as the company scales its first mass-market vehicle toward a target of 4,000 vehicles per week.
Product LaunchInnovation & R&D
positive📊 company
Revenue Growth And Positive Gross Profit
Consolidated revenue was approximately $1.4 billion, an 11% increase year-over-year, with consolidated gross profit of $119 million at a 9% margin.
Revenue GrowthMargin
positive📊 company
Uber Robotaxi Partnership And Georgia Expansion
Rivian announced an Uber robotaxi partnership expecting $300 million of equity plus later tranches, and increased first-phase Georgia capacity to 300,000 units backed by a $4.5 billion Department of Energy loan.
M&ACapex Investment
positive📊 company
Software And Services And Autonomy+ Uptake
Software and services revenue rose 49% to $473 million with $181 million of gross profit, and management said early Autonomy+ paid take rates exceeded its own models.
Revenue GrowthSubscriber Growth
negative📊 company
Automotive Gross Profit Negative On Lower Credits
Automotive gross profit was a $62 million loss versus a $92 million profit a year earlier, driven by a $100 million decrease in regulatory-credit sales and lower production volumes.
MarginRegulation Policy
mixed📊 company
Cash Burn And Tornado Disruption
Cash, equivalents and short-term investments fell to approximately $4.8 billion, and a tornado damaged the Normal factory two weeks before the call, though 2026 guidance was left unchanged.
Capital AllocationSupply Chain
mixed📊 company
Second- And Third-Quarter Gross Profit Pressure Ahead
Management reiterated that the R2 launch will negatively affect automotive gross profit in the second and third quarters before becoming a benefit in the fourth quarter as volumes scale.
FY2026 Q1 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Gross margin
Op margin
Net margin
FCF
FY2024 Q4
$1.73B
+31.9%
$-0.70
+55.7%
—
-38.1%
-42.8%
$856M
FY2025 Q1
$1.24B
+3.0%
$-0.48
+67.5%
—
-52.8%
-44.0%
$-526M
FY2025 Q2
$1.30B
+12.5%
$-0.97
+33.6%
—
-85.5%
-85.7%
$-398M
FY2025 Q3
$1.56B
+78.3%
$-0.96
+11.1%
—
-63.1%
-75.3%
$-421M
FY2025 Q4
$1.29B
-25.8%
$-0.66
+5.7%
—
-64.8%
-63.1%
$-1.14B
FY2026 Q1Selected
$1.38B
+11.4%
$-0.33
+31.3%
—
-63.8%
-30.1%
$-1.07B
FY2026 Q2
$1.66B
+27.2%
$-0.63
+35.1%
—
-50.4%
-50.2%
$-849M
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“Adjusted EBITDA losses for the first quarter were $472 million”
Revenue
“our consolidated revenue in the first quarter was approximately $1.4 billion, an 11% increase over the same quarter last year”
company-level, not the selected quarter
GAAP revenue YoY +11.4% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base7Base 7GAAP revenue YoY +11.4% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue YoY +11.37% (8% to 15% band) -> base 7. Rivian is not in the Sector Rules Table; management stated no adjusted total-revenue growth figure, so GAAP revenue is used as-is. The $506M Mind Robotics deconsolidation gain sits in other income below the operating line and does not affect the revenue base. transcript_adjustment = 0.+EPS0EPS 0Both current-quarter and prior-year EPS are negative (net loss of $0.33; the $506M Mind Robotics deconsolidation gain narrowed the net loss but did not turn it positive). Per the rubric, the EPS profitability adjustment is skipped for loss-making companies. EPS adjustment = 0.+Guidance0Guidance 0FY2026 guidance was reaffirmed unchanged: adjusted EBITDA loss of -$2.1B to -$1.8B (midpoint -$1.95B), deliveries 62,000-67,000, capex $1.95B-$2.05B, and a year-over-year gross profit increase. No scored financial-outcome metric changed -> 0.=Final7
How this score was built
Base7Base 7GAAP revenue YoY +11.4% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue YoY +11.37% (8% to 15% band) -> base 7. Rivian is not in the Sector Rules Table; management stated no adjusted total-revenue growth figure, so GAAP revenue is used as-is. The $506M Mind Robotics deconsolidation gain sits in other income below the operating line and does not affect the revenue base. transcript_adjustment = 0.+
22.45
12.50
8
3
7
Oct 25Oct 26
if it has any impact on your previous long-term financial targets of 25% gross margin
“Consolidated gross profit was $119 million, and our gross margin was 9%”
Guidance
“we continue to expect an adjusted EBITDA loss of between $2.1 billion to $1.8 billion”
Key metric
“we produced 10,236 vehicles and delivered 10,365 vehicles”
Mentions4
What RIVN and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“The Pentatonic battery and closure business supports EV and hybrid platforms, including the [ Rivian R1 ] and a major European OEM start of production plan for 2027.”
Textron's Kautex/Pentatonic supplies battery and closure systems for the Rivian R1, a supplier signal on Rivian's EV platform.
“It's a big increase, roughly a 4x increase relative to the NVIDIA-based platform.”
EPS0EPS 0Both current-quarter and prior-year EPS are negative (net loss of $0.33; the $506M Mind Robotics deconsolidation gain narrowed the net loss but did not turn it positive). Per the rubric, the EPS profitability adjustment is skipped for loss-making companies. EPS adjustment = 0.
+
Guidance0Guidance 0FY2026 guidance was reaffirmed unchanged: adjusted EBITDA loss of -$2.1B to -$1.8B (midpoint -$1.95B), deliveries 62,000-67,000, capex $1.95B-$2.05B, and a year-over-year gross profit increase. No scored financial-outcome metric changed -> 0.
=
Final7
Rivian's in-house RAP1 chip delivers roughly 4x the compute of its prior NVIDIA-based platform, displacing NVIDIA in Rivian's autonomy compute stack.
In the first quarter of 2026 Rivian began saleable R2 production in Normal, a landmark milestone, and grew consolidated revenue about 11% to approximately $1.4 billion with $119 million of gross profit at a 9% margin
Ford opened fiscal 2026 with $43.3 billion in revenue, up over 6% year-over-year even as volume fell nearly 4%, and adjusted EBIT of $3.5 billion ($2.2 billion excluding a one-time $1.3 billion IEEPA tariff benefit)
Lucid's first quarter of 2026, the last under interim CEO Marc Winterhoff before Silvio Napoli's arrival, paired balance-sheet progress with an operational setback