Rivian Automotive, Inc. · NASDAQ:RIVN
Rivian Automotive — Q2 2026 Earnings Presentation
29 slides from Rivian Automotive's earnings presentation, Jul 30, 2026
Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation July 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 Q2 2026 Business Summary 5 Progress on Rivian's Strategic Priorities 6 Strong Media Reviews of R2 7 R2 Rapidly Expands Rivian's Autonomy Data Fly Wheel 8 Continuous Software Improvement 9 Momentum in our Commercial Business with Amazon
Slide 4: Q2 2026 Business Summary
Q2 2026 Business Summary Start of R2 external customer deliveries and continued execution At Rivian, we are laying the foundations for a future that we believe will be fully electric, autonomous, and AI defined. The reviews for R2 affirm that our category-defining brand and vertically integrated and
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 • Delivered 12,194 vehicles in Q2, a 14% year-over-year increase, driven by delivery growth in commercial vans and the introduction of R2 deliveries • Our software
Slide 6: Strong Media Reviews of R2
Strong Media Reviews of R2 Directly translating into increased brand awareness and accelerating customer touch points with our products “I've driven lots of electric SUVs “I had high expectations for R2, “A muscular electric SUV that's in recent years, and the new R2 is it totally blew me away.” leg
Slide 7: R2 Rapidly Expands Rivian's Autonomy Data Fly Wheel
R2 Rapidly Expands Rivian's Autonomy Data Fly Wheel Expected to enable a path to L4 autonomy, which we believe will be a driver of future market share 1. Autonomy Data Recorder (ADR) Running on every Rivian sold today, the ADR empowers our vehicles to intelligently observe real world driving and upl
Slide 8: Continuous Software Improvement
Continuous Software Improvement Rivian Assistant is now available to all R1 owners with plans to launch on R2 later this year Our relentless focus on vertical integration remains a core competitive differentiator, allowing us to seamlessly unify our hardware and software architecture to deliver unpr
Slide 9: Momentum in our Commercial Business with Amazon
Momentum in our Commercial Business with Amazon Our partnership continues to drive real-world impact Amazon has over 40,000 Rivian Electric Delivery Vans delivering packages across thousands of cities in North America. The purpose-built design of the van is engineered to minimize total cost of owner
Slide 10: Scaling US Manufacturing across Two Plants
Scaling US Manufacturing across Two Plants Supports capacity growth up to 515,000 vehicles per year with significant room for future expansion in later phases1 1 Site capacity does not equal current production rates. There may be limitations discovered as production rates approach capacity. Producti
Slide 11: Business Outlook
Business Outlook We remain focused on our key strategic priorities: • Technology leadership • Demand generation and enhancing the customer experience • Operational efficiency • Drive towards profitability Updated 2026 guidance commentary: • Deliveries increased by 3,000 units in early July as a resu
Slide 12: 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 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 YoY Production and Deliveries Delivery Volumes 10,661 13,201 9,745 10,365 12,194 14% Cumulative Delivery Volumes 142,254 15
Slide 13: Automotive Segment Performance
Automotive Segment Performance Strong production, delivery and regulatory credit growth partially offset by R2 ramp costs Revenue Q2 2026 vs. Q2 2025 Commentary Deliveries 10,661 13,201 9,745 10,365 12,194 • Automotive revenues increased 23% year- $1,142 $1,143 over-year primarily due to a 14% incre
Slide 14: Software and Services Segment Performance
Software and Services Segment Performance Robust revenue growth driven by vehicle electrical architecture and software development services from RV Tech Revenue Q2 2026 vs. Q2 2025 Commentary • Software and services revenues saw a 37% increase year-over-year primarily due to ($M) $515 an increase in
Slide 15: Balance Sheet and Liquidity
Balance Sheet and Liquidity Liquidity profile remains strong, with $7.2B of pro-forma available liquidity and $1.25B of targeted capital in 2026 Debt Maturity Schedule Available Liquidity ($M) $4,000 Cash, Cash Equivalents and Short-Term Investments1 $5,310 $3,500 July Follow-on Equity Offering Net-
Slide 16: U.S. Department of Energy Loan
U.S. Department of Energy Loan1 BORROWER LOAN SIZE STRUCTURE Rivian New Horizon, LLC Up to $4.5B and 80% LTV Pro Rata The loan is guaranteed by Rivian Includes $0.5B of capitalized Interest Base and contingent equity will be Automotive, Inc. (Sponsor) and its material during construction, first draw
Slide 17: Financial Statements and Non-GAAP Reconciliations
Financial Statements and Non-GAAP Reconciliations Q2 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 17
Slide 18: Quarterly Financial Performance
Quarterly Financial Performance (in millions, except production, delivery, and gross margin) (unaudited) Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Production 5,979 10,720 10,974 10,236 12,613 Delivery 10,661 13,201 9,745 10,365 12,194 Revenues
Slide 19: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets 1 (in millions, except per share amounts) (unaudited) Assets December 31, 2025 June 30, 2026 Current assets: Cash and cash equivalents $ 3,579 $ 3,592 Short-term investments 2,503 1,718 Accounts receivable, net 555 370 Inventory 1,594 1,661 Other current assets
Slide 20: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations (in millions, except per share amounts) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2026 2025 2026 Automotive $ 927 $ 1,143 $ 1,849 $ 2,051 Software and services 376 515 694 988 Total revenues 1,303 1,658 2,543 3,039 Automoti
Slide 21: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows 1 (in millions) Six Months Ended June 30, (unaudited) 2025 2026 Cash flows from operating activities: Net loss $ (1,656) $ (1,253) Depreciation and amortization 396 431 Stock-based compensation expense 377 433 Gain on strategic investments (101) (506)
Slide 22: Depreciation and Amortization & Stock-Based Compensation Expense
Depreciation and Amortization & Stock-Based Compensation Expense (in millions) (unaudited) Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Depreciation and amortization expense Cost of revenues $ 185 $ 125 $ 108 $ 122 $ 138 Research and development
Slide 23: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, Adjusted Research and Development Expenses 2025 2026 2025 2026 Total research and development expenses $ 410 $ 466 $ 791 $ 924 R&D depreciation and amortization expenses (17)
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 June 30, Six Months Ended June 30, Adjusted EBITDA 2025 2026 2025 2026 Net loss attributable to common stockholders $ (1,117) $ (833) $ (1,662) $ (1,249) Interest (income) e
Slide 25: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, Free Cash Flow 2025 2026 2025 2026 Net cash provided (used) by operating activities $ 64 $ (487) $ (124) $ (1,190) Capital expenditures (462) (362) (800) (734) Free
Slide 26: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions) (unaudited) Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Adjusted Research and Development Expenses Total research and development expenses $ 410 $ 453 $ 424 $ 458 $ 466 R&D de
Slide 27: Reconciliation of Non-GAAP Financial Measures Continued
Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Adjusted Net Loss Net loss attributable to common stockholders, basic and diluted $ (1,117) $
Slide 28: 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 29: Q2 2026 Earnings Presentation © 2026 Rivian. All rights reserved.
Q2 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 29