Rivian FY2023 rev $4.43B, net loss $5.43B; guides 2024 production ~57k, cuts 10% workforce

Rivian Automotive, Inc. / DE

2023-FY EPS reported -$5.74 revenue$4,434,000,000

FY2023 revenue $4,434M, net loss $(5,432)M; Q4 rev $1,315M, net loss $(1,521)M.
Produced 57,232 vehicles, delivered 50,122 (147% YoY delivery increase full year).
2024 guidance: production ~57,000 units, capex $1,750M, adjusted EBITDA $(2,700)M.
Announced ~10% reduction in salaried workforce; reiterates path to Q4 modest gross profit.
Corrected prior release: 147% delivery increase was full-year, not Q4 vs Q4 comparison.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

Rivian Automotive, Inc. / DE reported fourth quarter and full year ended December 31, 2023 results: revenue Total revenue for the fourth quarter of 2023 was $1,315 million...For the year end December 31, 2023, total revenue was, net income Net loss for the fourth quarter of 2023 was $(1,521) million...For fiscal year 2023, net loss was $(5,432) million. Guidance reaffirmed.

Period: fourth quarter and full year ended December 31, 2023
Revenue: Total revenue for the fourth quarter of 2023 was $1,315 million...For the year end December 31, 2023, total revenue was
Net income: Net loss for the fourth quarter of 2023 was $(1,521) million...For fiscal year 2023, net loss was $(5,432) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Rivian Releases Fourth Quarter and Full Year 2023 Financial Results Company Exceeded All Aspects of 2023 Guidance Company Reiterates Path to Q4 Modest Gross Profit

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Rivian Automotive, Inc. / DE filing history →

Source: SEC EDGAR

accession 0001874178-24-000012

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.