Rivian Reports First-Ever Quarterly Gross Profit in Q4 2024, Signals Strong Growth for 2025

Rivian just dropped its Q4 2024 Shareholder Letter, and for the first time ever, the company reported a quarterly gross profit—$170 million to be exact. That’s a huge milestone, especially considering how Rivian has been working to drive down costs and ramp up production.

The financials paint a strong picture of Rivian’s momentum. The company saw a massive $729 million improvement in adjusted EBITDA compared to Q4 2023. Revenue for the quarter shot up by $419 million year-over-year, with a big boost from a $260 million increase in automotive regulatory credit sales. Automotive revenue hit $1.52 billion in Q4, thanks to 14,183 vehicle deliveries. For the full year, Rivian delivered 51,579 vehicles, bringing in $4.49 billion in automotive revenue.

One of the biggest factors in Rivian’s improved profitability? The launch of its second-generation R1 vehicles. The company slashed its automotive cost of revenues by $31,000 per vehicle compared to Q4 2023. Those savings came from smarter engineering, supply chain optimizations, and better commodity costs. Software and services are also proving to be a valuable revenue stream, bringing in $60 million in Q4 with a strong 28% gross margin.

Beyond the financials, Rivian made big moves in other areas. The company finalized its joint venture with Volkswagen Group and secured a loan from the Department of Energy, giving it up to $10 billion in incremental capital. Meanwhile, its Amazon delivery vans (EDVs) have now delivered over a billion packages, proving their reliability in the real world.

On the safety front, the 2025 R1S became the only large SUV to earn the coveted IIHS Top Safety Pick+ rating. That’s a major win, especially for a brand that prides itself on adventure-ready vehicles that don’t compromise on safety.

Looking ahead, Rivian is aiming to deliver between 46,000 and 51,000 vehicles in 2025. The company expects to achieve a modest gross profit for the full year, which would mark another big step toward long-term financial sustainability. With improving cost structures, expanding sales and service infrastructure, and growing software revenues, Rivian’s strategy seems to be paying off.

If this trajectory continues, Rivian could be in a much stronger position heading into 2026—something investors and EV enthusiasts alike will be watching closely.