Rivian stock drops as company reports losses despite higher vehicle delivery numbers

Rivian traded at $13.09 at 11:53 AM Eastern, down 3.32% from Wednesday's close. The electric SUV, pickup and delivery-van maker reported third-quarter deliveries of 19,248 vehicles, up 46% from a year earlier. Revenue for the period reached $2.155 billion, a 38% increase.

Despite the growth in sales, the company reported an $80 million gross loss in its vehicle business. While software and services generated $256 million in gross profit, Rivian lost $913 million attributable to common shareholders. The company burned about $1.12 billion in free cash flow during the quarter. Launch costs for the R2 SUV added about $120 million to expenses.

Rivian is betting that higher R2 sales will spread factory costs over more vehicles. The company raised its 2026 delivery outlook to 67,000-70,000 vehicles. These earnings were released October 29. Today's stock price drop occurs during a jumpy market, with no single confirmed new headline explaining the move.