$Rivian Automotive(RIVN.US) +2.0% AH after posting higher than expected revs and lower than expected Adj EBITDA losses in 2Q, Auto gross margin was significantly higher than expected. FY’26 EBITDA guidance was raised by +$50M higher. RIVN’s progress reflects early adoption of the new lower-priced R2 SUV, which launched in June at a base price of $45K vs $80K for the more expensive and larger R1 SUV.
2Q results:- Delivs 12,194 vs 11,471 exp (previously reported)- Revs $1.66B vs $1.52B exp- GM% 11.0% vs 6.54% exp- EBITDA -$379M vs -$548MFY’26 guidance:- Delivs 65-70K (no change) vs 64,769 exp- EBITDA -1.8B to -$2.0B vs -$2.01B est and vs -$1.8B to -$2.1B prior- CapExp $1.7-$1.8B vs $1.95-$2.05B priorOn the conf call, CEO RJ Scaringe outlined RIVN’s path to full autonomy. RIVN’s autonomy platform is “Autonomy plus” (cost $2,500 upfront, or $49.99/month) which is currently a Level 2+ product. - 2026 “Hands off” L2+- 2027 “Eyes off” L3- 2028 “No driver in car” L4The copyright of this article belongs to the original author/organization.
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