Rivian Automotive, Inc. · NASDAQ:RIVN
Rivian Automotive — Q1 2026 Earnings Presentation
28 slides from Rivian Automotive's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation April 30, 2026
Slide 2: Public Disclosure Statement
Public Disclosure Statement Forward Looking Statements This earnings presentation and statements that are made on our earnings call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this earnings presentation an
Slide 3: Table of Contents
Table of Contents Highlights, Financial Results and Guidance 4 Q1 2026 Business Summary 5 Progress on Rivian's Strategic Priorities 6 R2 is Designed for Big Adventures and Everyday Use 7 Profitably Delivering R2 at an Accessible Price 8 Optimized Capacity for Georgia Plant 9 Strategic Partnerships U
Slide 4: Q1 2026 Business Summary
Q1 2026 Business Summary Continued R2 and technology execution, updated Georgia plans and Department of Energy loan This quarter the Rivian team executed across many fronts, laying a strong foundation for the years ahead. As an American automotive technology company, we are building for a future tha
Slide 5: Progress on Rivian's Strategic Priorities
Progress on Rivian's Strategic Priorities Scaling R2 production and deliveries enables path to profitability Drive Towards Profitability • Started production of saleable R2 vehicles and made first deliveries to employees • On April 4, began paid subscriptions for Autonomy+ priced at either a one-tim
Slide 6: R2 is Designed for Big Adventures and Everyday Use
R2 is Designed for Big Adventures and Everyday Use Production of saleable R2 commenced with external customer deliveries expected in the coming weeks Trims, Pricing and First Deliveries from Normal In an American automotive marketplace starved for high-quality EV choice, we believe R 2 is an attract
Slide 7: Profitably Delivering R2 at an Accessible Price
Profitably Delivering R2 at an Accessible Price R2 bill of materials expected to be approximately 50% of R1 and non-BOM costs expected to decline greater than 50% due to focus on design for manufacturing and fixed cost efficiencies1 Key Design Changes & Sourcing Leverage Structural cost reductions f
Slide 8: Optimized Capacity for Georgia Plant
Optimized Capacity for Georgia Plant 50% increase in phase one expected to boost cost efficiency and support thousands of U.S. manufacturing jobs We updated capacity for our Georgia plant allowing for a 50% increase in initial production capacity to 300,000 units annually for our mid-sized platform.
Slide 9: Strategic Partnerships Update
Strategic Partnerships Update Highlights extensibility of our technology and vehicle programs to drive value Robotaxi Partnership with Uber Completion of Key Winter Testing Milestones by RV Tech In March, we announced a new partnership with Uber to accelerate our shared autonomous In March, RV Tech
Slide 10: Strategic Investments Update
Strategic Investments Update Funding momentum for Rivian spin out companies Mind Robotics Series A Funding ALSO. Series C Funding and DoorDash Partnership Late last year, the company established Mind Robotics to address a structural gap Bike lanes, shoulders and curbsides are the areas that make up
Slide 11: Summary Financial Performance and Operating Metrics
Summary Financial Performance and Operating Metrics Building for an adventurous future that is fully electric, autonomous and AI-defined Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 YoY Production and Deliveries Delivery Volumes 8,640 10,661 13,201 9,745 10,365 20% Cumulative Delivery Volumes 131,593 142
Slide 12: Automotive Segment Performance
Automotive Segment Performance Delivery growth driven by increase in sales of commercial vans Revenue Q1 2026 vs. Q1 2025 Commentary Deliveries 8,640 10,661 13,201 9,745 10,365 • Automotive revenue decreased (2)% year- $1,142 over-year primarily due to a $100 million ($M) $922 $927 $1,141 $908 decre
Slide 13: Software and Services Segment Performance
Software and Services Segment Performance Robust revenue growth driven by vehicle electrical architecture and software development services for RV Tech Revenue Q1 2026 vs. Q1 2025 Commentary $473 • Software and services revenue saw a $447 $416 49% increase year-over-year primarily due $376 ($M) to a
Slide 14: Balance Sheet and Liquidity
Balance Sheet and Liquidity Liquidity profile remains strong, with $5.4B of available liquidity and $2.55B of expected capital in 2026 Debt Maturity Schedule Available Liquidity ($M) $4,000 Cash, Cash Equivalents and Short-Term Investments1 $4,830 $3,500 Availability under ABL Facility2 564 $3,000 $
Slide 15: Business Outlook
Business Outlook Over the course of fiscal year 2026, we remain focused on our key strategic priorities: • Technology leadership • Demand generation and enhancing the customer experience • Optimize operational efficiency • Drive towards profitability 2026 Guidance Vehicles Delivered 62,000 – 67,000
Slide 16: Financial Statements and Non-GAAP Reconciliations
Financial Statements and Non-GAAP Reconciliations Q1 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 16
Slide 17: Quarterly Financial Performance
Quarterly Financial Performance (in millions, except production, delivery, and gross margin) (unaudited) Three Months Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Production 14,611 5,979 10,720 10,974 10,236 Delivery 8,640 10,661 13,201 9,745 10,365 Revenues
Slide 18: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets 1 (in millions, except per share amounts) (unaudited) Assets December 31, 2025 March 31, 2026 Current assets: Cash and cash equivalents $ 3,579 $ 2,845 Short-term investments 2,503 1,985 Accounts receivable, net 555 342 Inventory 1,594 1,543 Other current assets
Slide 19: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations (in millions, except per share amounts) (unaudited) Three Months Ended March 31, 2025 2026 Automotive $ 922 $ 908 Software and services 318 473 Total revenues 1,240 1,381 Automotive 830 970 Software and services 204 292 Total cost of revenues 1,034 1,2
Slide 20: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows 1 (in millions) Three Months Ended March 31, (unaudited) 2025 2026 Cash flows from operating activities: Net loss $ (541) $ (416) Depreciation and amortization 200 194 Stock-based compensation expense 188 207 Gain on strategic investments (101) (506) O
Slide 21: Depreciation and Amortization & Stock-Based Compensation Expense
Depreciation and Amortization & Stock-Based Compensation Expense (in millions) (unaudited) Three Months Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Depreciation and amortization expense Cost of revenues $ 75 $ 185 $ 125 $ 108 $ 122 Research and development
Slide 22: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) Three Months Ended March 31, Adjusted Research and Development Expenses 2025 2026 Total research and development expenses $ 381 $ 458 R&D depreciation and amortization expenses (17) (23) R&D stock-based compensation expenses (79
Slide 23: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Three Months Ended March 31, Adjusted EBITDA 2025 2026 Net loss attributable to common stockholders $ (545) $ (416) Interest income, net (9) 15 Provision for income taxes 2 (2) Depreciation an
Slide 24: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Three Months Ended March 31, Free Cash Flow 2025 2026 Net cash used in operating activities $ (188) $ (703) Capital expenditures (338) (372) Free cash flow (non-GAAP) $ (526) $ (1,075) Q1 2026
Slide 25: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions) (unaudited) Three Months Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Adjusted Research and Development Expenses Total research and development expenses $ 381 $ 410 $ 453 $ 424 $ 458 R&D d
Slide 26: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Three Months Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Adjusted Net Loss Net loss attributable to common stockholders, basic and diluted $ (545) $
Slide 27: Non-GAAP Financial Measure Definitions
Non-GAAP Financial Measure Definitions Our non-GAAP financial measures include adjusted research and development expenses, adjusted selling, general, and administrative expenses, total adjusted operating expenses, adjusted EBITDA, adjusted net loss, adjusted net loss per share, and free cash flow. A
Slide 28: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 28