Rivian Q2 revenue $1.66B (+27% YoY), gross profit $179M, begins R2 deliveries, raises guidance

Rivian Automotive, Inc. / DE

Revenue $1.658B (+27% YoY); gross profit $179M vs -$206M YoY; net loss $(837)M vs $(1.115)B.
Began external R2 deliveries on June 9; produced 12,613 vehicles, delivered 12,194.
Software & services revenue $515M (+37% YoY), $308M from VW JV; automotive revenue $1.143B (+23%).
Guidance: deliveries 65k-70k (up 3k), adj. EBITDA $(2.00)B-$(1.80)B (improved $50M), capex $1.70B-$1.80B (down $250M).
July equity offering raised ~$1.3B; expect $1B VW debt and $250M Uber equity later in 2026.

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