Rivian's stock jumps 20% as investors cheer 2026 growth potential

By William Gavin

Rivian expects to deliver up to 67,000 EVs this year, but could dole out more than $2.1 billion on capital expenditures as it expands its roadmap

Rivian plans to massively increase its sales this year, largely due to high expectations for the R2 sports utility vehicle.

Rivian Automotive shares are soaring after the electric-vehicle maker revealed ambitious goals for 2026 - with investors showing a willingness to put up with continued heavy losses.

The Irvine, Calif.-based electric-vehicle maker expects an adjusted loss of between $1.8 billion and $2.1 billion for 2026, compared with almost $2.1 billion in losses last year. The company also guided to capital expenditures of between $1.95 billion and $2.05 billion for 2026, more than the $1.8 billion analysts had expected, according to FactSet.

Rivian (RIVN) said it plans to sell between 62,000 and 67,000 EVs in 2026, compared to less than 43,000 in 2025. The FactSet consensus was for 66,000. The company expects to benefit from the rollout of a new, more affordable SUV in the second quarter and is set to provide details on pricing, options and other features on March 12.

The R2 is the "most material catalyst this year" for the EV maker, Cantor Fitzgerald analyst Andres Sheppard said in a note to investors ahead of earnings.

Rivian shares jumped about 15% in Thursday's extended session after the company reported earnings and were up more than 20% early Friday.

The company's revenue came in at $1.28 billion for the December quarter, slightly more than the $1.26 billion expected by analysts. But it's also a big drop from the $1.73 billion Rivian recorded a year earlier, primarily due to weaker vehicle sales. For the full year, Rivian's revenue was up about 8% compared to 2024.

Rivian reported automotive revenue of $839 million after delivering 9,745 electric trucks and SUVs between October and December 2025. Wall Street had expected $856 million, according to FactSet estimates.

The company said the decline was primarily because of a $270 million drop in regulatory credit sales and the impact of the end of U.S. electric-vehicle tax credits that helped drive car sales. Several automakers, including Stellantis (STLA) and General Motors (GM), have pulled back on EVs in recent months to account for a less-friendly market.

Meanwhile, Rivian said its software and services division generated $447 million in revenue, up 109% from a year before, largely thanks to work related to its joint venture with Volkswagen (XE:VOW) (VWAPY). Analysts had forecast $421 million in revenue from that division, according to the FactSet consensus.

Last December, Rivian also revealed plans to improve its suite of driver-assistance features and develop an in-house artificial-intelligence chip it calls the Rivian Autonomy Processor. It plans to introduce Autonomy+ this year, which will allow Rivian to sell its driver-assistance features for either $49.99 a month or through a $2,500 one-time payment. Rival Tesla (TSLA) on Saturday will end the one-time payment option for its self-driving features.

Rivian recorded a net loss of $3.6 billion in 2025, better than its $4.75 billion loss in 2024. The company said it ended the year with $6.58 billion in total liquidity, almost $6.1 billion of which was cash, cash equivalents and short-term investments.

The company recorded gross profit of $144 million in 2025. That includes $120 million in the fourth quarter, down from $170 million a year earlier, although Rivian's sales were also much greater then.

-William Gavin

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02-13-26 1041ET