$RIVN

Rivian Automotive, Inc. / DE

CIK:0001874178|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenues (Note 3)	$ 1,658	$ 1,303	$ 3,039	$ 2,543
Total cost of revenues	1,479	1,509	2,741	2,543
Gross profit	179	(206)	298	0
Operating expenses
Research and development	466	410	924	791
Selling, general, and administrative	549	498	1,091	978
Total operating expenses	1,015	908	2,015	1,769
Loss from operations	(836)	(1,114)	(1,717)	(1,769)
Interest income	48	72	98	153
Interest expense (Note 8)	(68)	(69)	(133)	(141)
Other (expense) income, net	18	(2)	496	105
Loss before income taxes	(838)	(1,113)	(1,256)	(1,652)
Provision for income taxes	1	(2)	3	(4)
Net loss	(837)	(1,115)	(1,253)	(1,656)
Less: Net income (loss) attributable to noncontrolling interest	(4)	2	(4)	6
Net loss attributable to common stockholders	(833)	(1,117)	(1,249)	(1,662)
Net loss attributable to common stockholders, basic	(833)	(1,117)	(1,249)	(1,662)
Net loss attributable to common stockholders, diluted	$ (833)	$ (1,117)	$ (1,249)	$ (1,662)
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (0.63)	$ (0.97)	$ (0.97)	$ (1.45)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (0.63)	$ (0.97)	$ (0.97)	$ (1.45)
Weighted-average common shares outstanding, basic (in shares)	1,325	1,155	1,287	1,146
Weighted-average common shares outstanding, diluted (in shares)	1,325	1,155	1,287	1,146
Automotive
Total revenues (Note 3)	$ 1,143	$ 927	$ 2,051	$ 1,849
Total cost of revenues	1,179	1,262	2,149	2,092
Software and services
Total revenues (Note 3)	515	376	988	694
Total cost of revenues	$ 300	$ 247	$ 592	$ 451

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (1,253)	$ (1,656)
Depreciation and amortization	431	396
Stock-based compensation expense	433	377
Gain on strategic investments	(506)	(101)
Other non-cash activities	43	40
Changes in operating assets and liabilities:
Accounts receivable, net	191	189
Inventory	(215)	108
Other assets	78	38
Accounts payable and accrued liabilities	8	120
Deferred revenues	(362)	403
Other liabilities	(38)	(38)
Net cash used in operating activities	(1,190)	(124)
Cash flows from investing activities:
Purchases of equity securities and short-term investments	(1,254)	(1,942)
Sales of equity securities and short-term investments	22	101
Maturities of short-term investments	1,955	1,527
Deconsolidation of Mind Robotics, Inc.	(114)	0
Capital expenditures	(734)	(800)
Net cash used in investing activities	(125)	(1,114)
Cash flows from financing activities:
Proceeds from stock-based compensation programs	39	36
Proceeds from issuance of capital stock	1,300	750
Proceeds from issuance of long-term debt	0	1,250
Repayments of long-term debt	0	(1,250)
Other financing activities	(9)	(36)
Net cash provided by financing activities	1,330	750
Effect of exchange rate changes on cash and cash equivalents	(2)	6
Net change in cash	13	(482)
Cash, cash equivalents, and restricted cash—Beginning of period	3,579	5,294
Cash, cash equivalents, and restricted cash—End of period	3,592	4,812
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures included in liabilities	492	452
Capital stock issued to settle bonuses	110	47
Right-of-use assets obtained in exchange for operating lease liabilities	$ 203	$ 134

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents (Note 5)	$ 3,592	$ 3,579
Short-term investments (Note 5)	1,718	2,503
Accounts receivable, net	370	555
Inventory (Note 6)	1,661	1,594
Other current assets	277	361
Total current assets	7,618	8,592
Property, plant, and equipment, net (Note 7)	5,557	5,119
Operating lease assets, net	708	571
Strategic investments (Note 2)	697	119
Other non-current assets	560	463
Total assets	15,140	14,864
Current liabilities:
Accounts payable	889	595
Accrued liabilities (Note 9)	1,085	1,438
Current portion of deferred revenues, lease liabilities, and other liabilities (Note 9)	1,646	1,660
Total current liabilities	3,620	3,693
Long-term debt (Note 8)	4,444	4,440
Non-current lease liabilities	693	551
Other non-current liabilities (Note 9)	1,256	1,586
Total liabilities	10,013	10,270
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of December 31, 2025 and June 30, 2026	0	0
Common stock, $0.001 par value; 5,258 and 5,258 shares authorized and 1,240 and 1,362 shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively (Note 14)	1	1
Additional paid-in capital	33,305	31,508
Accumulated deficit	(28,200)	(26,951)
Accumulated other comprehensive income	0	8
Noncontrolling interest	21	28
Total stockholders' equity	5,127	4,594
Total liabilities and stockholders' equity	$ 15,140	$ 14,864