Rivian CFO Says R2 SUV Will Drive Gross-Profit Positivity by Year-End
RIVN sits 51% above its 52-week low of $11.57.
Summary
CFO Claire McDonough told Bloomberg that the new R2 SUV is expected to push Rivian's automotive gross profit into positive territory by the end of 2026. The company has begun delivering the model, with early demand described as strong and the production ramp underway. This follows Rivian's first consolidated gross profit in Q2 2026, reported earlier today, and the recent $1.32 billion equity raise. The R2 is a lower-priced vehicle critical to scaling volume and improving margins. McDonough also highlighted the company's capital position, software strategy, and growing recurring software revenue. The explicit profitability timeline for the core automotive business is a new, concrete signal that the turnaround is on track, as Rivian narrows its loss with the launch of the new midsize EV SUV.
At the time of this announcement, RIVN was trading at $17.50 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $24.4B. The 52-week trading range was $11.57 to $22.69. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.