secwatch.observer — SEC 8-K summary
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Issuer:     Rivian Automotive, Inc. / DE (RIVN)
CIK:        0001874178
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001874178-24-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rivian beats 2023 guidance, cuts 10% workforce; guides 2024 production flat at 57K
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- Q4 revenue $1,315M, full-year $4,434M (up 167% YoY); net loss $(1,521)M Q4 vs $(1,723)M YoY.
- Produced 57,232 vehicles in 2023, exceeding initial guidance by over 7,000; deliveries 50,122, more than double 2022.
- Gross profit per vehicle improved ~$81K Q4'23 vs Q4'22; full-year gross loss $(2,030)M vs $(3,123)M.
- 2024 guidance: produce 57,000 vehicles, capex $1,750M, Adjusted EBITDA $(2,700)M; reiterates path to Q4 modest gross profit.
- Workforce reduction of ~10% salaried employees; R2 midsize platform reveal on March 7.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1874178/000187417824000005/0001874178-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1874178/000187417824000005/rivn-20240221.htm
  HTML page:      https://secwatch.observer/filing/0001874178-24-000005

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