Rivian Q3 2025 Results Show Turning Point Ahead of R2 Launch

tl;dr

• 📦 13,201 vehicles delivered — Rivian’s highest delivery quarter of 2025
• 💰 $1.56B in total revenue, up 78 % year-over-year
• ⚙️ $24M gross profit
• 💻 Software & services revenue up 324 % to $416 M
• 🏭 R2 factory build-out in Normal, IL nearly complete
• 🏗️ Georgia plant groundbreaking adds 400k capacity & 7,500 jobs
• 🚗 Autonomy platform expanding hands-free driving — Autonomy & AI Day on Dec 11
• 🔌 850+ Adventure Network chargers now live across 38 states (90 % open to all EVs)

Building Toward R2

Preparations for R2 remain on schedule for the first half of 2026. Rivian has completed construction on over 2.3 million sq ft of new facilities in Normal, including the R2 body shop, general assembly line, supplier park, and logistics center. The company says all equipment is powered on and commissioning is underway, with validation builds expected before year-end.

Rivian also finished major upgrades to its paint shop, expanding total annual capacity to roughly 215,000 units. In September, the company broke ground on its second U.S. manufacturing site near Social Circle, Georgia.

Software, Autonomy, and OTA Growth

The Rivian Autonomy Platform continues to evolve with an AI-centric design. Recent updates expanded hands-free highway capabilities for second-generation R1 vehicles, boosting usage miles by 70 percent in Q3. Rivian plans to host its first-ever Autonomy & AI Day on December 11 to share more about its long-term autonomy and AI strategy.

Beyond autonomy, Rivian’s OTA pipeline keeps bringing new features to existing owners—from smart charging recommendations to October’s viral “Halloween Mode,” which turned vehicles into a spooky swamp-themed experience with custom lighting and sound.

Charging and Service Expansion

Rivian continues to build out its retail and service footprint ahead of R2. The company now operates 35 Spaces and 95 service locations across the U.S., most offering both demo drives and sales support.

The Rivian Adventure Network also continues to scale, with 8 new sites added this quarter—including a new Charging Outpost in the Hamptons, NY. The network now includes more than 850 chargers across 131 sites in 38 states, and over 90 percent of those chargers are now open to all EVs. Rivian says it’s pushing to make the entire network fully open soon.

Outlook

For 2025, Rivian expects to deliver between 41,500 and 43,500 vehicles. Adjusted EBITDA is projected at a loss of $2.0 billion to $2.25 billion, with capital expenditures around $1.8 to $1.9 billion. While the company still isn’t profitable, the shift to positive gross margins and stronger software revenue is a big milestone on its long road to sustainable growth.

My Take

This quarter feels like a turning point. The R2 program is clearly moving from construction to real preparation, software revenue is finally becoming a serious part of the business, and Rivian’s gross profit flipped positive for this quarter. The losses are still big, but the trajectory looks good.

Rivian’s growing infrastructure is exactly what the company needs heading into R2. If it can maintain this momentum through 2026, Rivian will be in a much stronger position than it was a year ago.