Rivian Automotive, Inc. / DE

Listed Company

RIVNCIK 0001874178NasdaqLarge AcceleratedMotor Vehicles & Passenger Car BodiesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.39B

Net Income

$-3.65B

Total Assets

$14.86B

Equity

$4.59B

Shares Out

1.26B

Op. Cash Flow

$-779.00M

Business

Rivian Automotive, Inc. develops and manufactures battery-electric vehicles and complementary software and services across the vehicle lifecycle. Its product portfolio includes consumer SUVs and pickup trucks (R1, R2, R3 lines), midsize platforms, commercial vans including the Rivian Commercial Van and Electric Delivery Van, and integrated offerings such as vehicle software, autonomy, charging, maintenance, subscriptions, FleetOS fleet management, financing, insurance, and accessories. The company reports through Automotive and Software and Services segments and operates a joint venture with Volkswagen for electrical architecture and software. Rivian sells directly to consumer and commercial customers in the United States and Canada, operates a North American charging network, and distributes through direct sales and fleet channels with planned manufacturing expansion for broader markets.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues (Note 4)	5,387	4,970	4,434	1,658	55
Total cost of revenues (Note 4)	5,243	6,170	6,464	4,781	520
Gross (loss) profit	144	−1,200	−2,030	−3,123	−465
Research and development (Note 2)	1,668	1,613	1,995	1,944	1,850
Selling, general, and administrative (Note 2)	2,061	1,876	1,714	1,789	1,242
Total operating expenses	3,729	3,489	3,709	3,733	3,755
Loss from operations	−3,585	−4,689	−5,739	−6,856	−4,220
Interest income	293	385	522	193	3
Interest expense (Note 10)	−274	−318	−220	−103	—
Loss on convertible notes, net (Note 10)	0	−112	0	—	—
Other income (expense), net	−54	−7	6	18	−1
Loss before income taxes	−3,620	−4,741	−5,431	−6,748	−4,688
Provision for income taxes	−6	−5	−1	−4	0
Net loss	−3,626	−4,746	−5,432	−6,752	—
Less: Net income attributable to noncontrolling interest	20	1	0	0	—
Net loss attributable to common stockholders	−3,646	−4,747	−5,432	−6,752	−4,688
Net loss attributable to common stockholders, basic	−3,646	−4,747	−5,432	−6,752	−4,688
Net loss attributable to common stockholders, diluted	−3,646	−4,747	−5,432	−6,752	−4,688
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	−3.07	−4.69	−5.74	−7.4	−22.98
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	−3.07	−4.69	−5.74	−7.4	−22.98
Weighted-average common shares outstanding, basic (in shares)	1,186	1,013	947	913	204
Weighted-average common shares outstanding, diluted (in shares)	1,186	1,013	947	913	204

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (Note 6)	3,579	5,294	7,857	11,568	18,133
Short-term investments (Note 6)	2,503	2,406	1,511	0	—
Accounts receivable, net (Note 2)	555	443	161	102	26
Inventory (Note 7)	1,594	2,248	2,620	1,348	274
Other current assets	361	192	164	112	126
Total current assets	8,592	10,583	12,313	13,130	18,559
Property, plant, and equipment, net (Note 8)	5,119	3,965	3,874	3,758	—
Operating lease assets, net (Note 9)	571	416	356	330	228
Other non-current assets	582	446	235	658	324
Total assets	14,864	15,410	16,778	17,876	22,294
Accounts payable	595	499	981	1,000	483
Accrued liabilities (Note 11)	1,438	835	1,145	1,154	667
Current portion of deferred revenues, lease liabilities, and other liabilities	1,660	917	361	270	163
Total current liabilities	3,693	2,251	2,487	2,424	1,313
Long-term debt (Note 10)	4,440	4,441	4,431	1,231	1,226
Non-current lease liabilities (Note 9)	551	379	324	311	218
Other non-current liabilities (Note 11)	1,586	1,777	395	111	23
Total liabilities	10,270	8,848	7,637	4,077	2,780
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of December 31, 2024 and 2025	0	0	0	0	0
Common stock, $0.001 par value; 3,508 and 5,258 shares authorized and 1,131 and 1,240 shares issued and outstanding as of December 31, 2024 and 2025, respectively (Note 15)	1	1	1	1	1
Additional paid-in capital	31,508	29,866	27,695	26,926	25,887
Accumulated deficit	−26,951	−23,305	−18,558	−13,126	−6,374
Accumulated other comprehensive (loss) income	8	−4	3	−2	0
Noncontrolling interest	28	4	0	—	—
Total stockholders' equity	4,594	6,562	9,141	13,799	19,514
Total liabilities and stockholders' equity	14,864	15,410	16,778	17,876	22,294
Common stock, shares issued (in shares)	1,240	1,131	968	926	900
Common stock, shares outstanding (in shares)	1,240	1,131	968	926	900

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	784	1,031	937	652	197
Stock-based compensation expense	741	692	821	987	570
Gain on equity method investment	−101	0	0	—	—
Other non-cash activities	−17	28	222	82	36
Accounts receivable, net	−112	−282	−59	−76	−20
Inventory	522	307	−1,604	−1,657	−369
Other assets	9	−221	−146	−36	—
Accounts payable and accrued liabilities	571	−572	105	623	461
Deferred revenues	503	1,619	149	61	46
Other liabilities	−53	316	141	144	—
Net cash used in operating activities	−779	−1,716	−4,866	−5,052	−2,622
Purchases of equity securities and short-term investments	−3,206	−4,392	−2,410	—	—
Sales of equity securities and short-term investments	108	0	0	—	—
Maturities of short-term investments	2,980	3,553	925	0	0
Capital expenditures	−1,710	−1,141	−1,026	−1,369	−1,794
Net cash used in investing activities	−1,828	−1,980	−2,511	−1,369	−1,794
Proceeds from stock-based compensation programs	61	62	60	—	—
Proceeds from issuance of capital stock	750	0	0	102	2,658
Proceeds from issuance of long-term debt	1,250	0	0	0	1,226
Repayments of long-term debt	−1,250	0	0	—	—
Proceeds from issuance of convertible notes	0	1,000	3,195	0	2,500
Purchase of capped call options	0	0	−108	0	0
Other financing activities	−37	−5	−17	−3	−86
Net cash provided by financing activities	886	1,136	3,130	99	19,828
Effect of exchange rate changes on cash and cash equivalents	6	−3	5	−2	0
Net change in cash	−1,715	−2,563	−4,242	−6,324	15,412
Cash paid for interest	222	279	169	88	2
Capital expenditures included in liabilities	493	423	374	364	479
Capital stock issued to settle bonuses	47	179	137	0	0
Conversion of convertible notes	0	1,133	0	0	2,941

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