Rivian beat Wall Street estimates in the third quarter, posting an adjusted loss of 48 cents per share versus the 62-cent loss expected and revenue of $2.16 billion versus $1.99 billion expected. The automaker delivered a record 19,248 vehicles from July through September, with the R2 becoming its best-selling model. Net loss attributable to common stockholders narrowed to $913 million, while gross profit increased from $24 million to $176 million. Rivian raised its 2026 delivery forecast to between 67,000 and 70,000 units and reduced its capital expenditure outlook by $300 million at the midpoint. Cash, cash equivalents and short-term investments totaled $5.5 billion, although the company remains unprofitable overall.
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