Predictions for the Q1 Earnings Call today?

[jeeden]

Thought I would start a thread for any thoughts on the earnings call today. I think it is going to be a big one with some of the marketing people they have brought on board and the way they did the R2 release day.

I'm thinking some of the following, who knows if I'm right, but I think there WILL be surprises of some sort, I just feel like Rivian has been quiet lately, no hints of the next software version out yet... it's too quiet:

Likely news:

• Sold just about every R1 they had produced before the shutdown
• Shutdown and retool complete. Lots of savings, numbers will come out in Q4, but on track, details on the changes to the line
• Update on R2 reservations, surprise with a big number
• State of Illinois incentive money
• Amazon vans delivering a good pace
• RAN chargers going out at good pace
• Tesla adapters going out on plan (maybe not great, but plan)

Possible surprise news:

• R1 Refresh, actual drop in price, announced profitability on every R1 produced
• New R2 production date in 2025
• Software update coming this week same as R1 refresh and will include trial of video/infotainment, upgrade for movies, etc
• Google maps integration (not android auto)
• Apple watch integration (not carplay)
• Apple investment in software stack of some sort
• Delivery vans to UPS or Fedex

EDIT: Here is the link to listen to the earnings call at 5pm Eastern today (05-07-24)
https://rivian.com/investors

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[evhelphub]

I'm split on whether Rivian will announce details of the refreshed R1 platform today.

I've always believed the changes would be significant, both for Rivian and the end customer. To do it on an earnings call while also trying to discuss revenue and the boring stuff investors like might be a disservice.

AFAIK, there's still a good amount of R1 inventory they need to sell first, too.

Instead, I bet they announce a date to reveal the updates at a special event. Maybe not.

I'm expecting numbers to look very rough and for Rivian to lean heavily into teasing the refreshed platform, R2 updated preorder numbers, and the recent Illinois investment.

 

[s0ysauce]

You have a pretty good list already. Maybe they introduce the new COO and expand on why they decided to replace the existing one. Hopefully some news about beefing up the Service Centers or update on hirings for the RAN team after the decimation from the Tesla Charging team.

On a side note, about charging. I know RANs are usually for adventure locations, but please expand into some metro areas that have a large amount of EVs. You know, for the PR and being able to control the charging experience for your customers and word of mouth.

 

[jeeden]

I see the point about the R1 Refresh unveiling. It would be a waste of the news to announce it on the earnings and skip the splash of a event like they did for R2 that gives them time to show all the product features, etc.

 

[GRC]

is there a link to listen in on the call today?

 

[jeeden]

is there a link to listen in on the call today?

Here you go, you can dial in or webcast.

https://rivian.com/investors

 

[UnsungZero_OldTimeAdMan]

I wouldn't expect a price drop on R1 or reintroduction of Explore. New hard features (like improved ADAS, which is all but confirmed) could offset what savings that could be passed on to consumers. And end goal for efficiency improvements on the line are meant to improve Rivian's cost and improve per-unit profit margin when sold, not to make a lower priced product at retail. That, is what the Standard and standard+ R1s, R2 and R3 are for. If anything, there may even be a slight bump (better margins and to clear remaining pre-refresh inventory).

I thought I read/heard somewhere they are already starting to integrate Google Maps? Apple Watch, Music and TV likely won't be news until later in the year, when they roll out subscription-based services.

Plans for RAN expansion, the new chargers (with NACS) and access by non-Rivians will most likely be mentioned, given recent negative news created by the other camp. Too good of an opportunity to pass up.

 

[jeeden]

I thought I read/heard somewhere they are already starting to integrate Google Maps? Apple Watch, Music and TV likely won't be news until later in the year, when they roll out subscription-based services.

Well they are using the google UI and search for the destination search. I remember something about Wassym saying they were working on getting the map layer from google into the Nav (which I always said google maps, not AA/CP would satisfy a majority of people calling for AA/carplay), but I can't find it now.

 

[Rivtony]

I'll def be tuning on that one today. Quite curious about the news.

It's my second earning earnings call today. First this morning was my company, so far so good

 

[LetsgoRIVN]

Operationally it’s a bad quarter. Higher revenue but lost more money !

 

[virgnia_rivian]

Q1 24 Investor Letter:
https://downloads.rivian.com/2md5qh...35921cd9c8c7/RIVN_1Q24_Shareholder_Letter.pdf

 

[R1TS]

Operationally it’s a bad quarter. Higher revenue but lost more money !

Still burning through over $1B per quarter. They have about 1 year left in cash now. Hopefully, the retooling makes a significant difference. Regardless, I see a noticeable dilution coming soon.

 

[UnsungZero_OldTimeAdMan]

Well they are using the google UI and search for the destination search. I remember something about Wassym saying they were working on getting the map layer from google into the Nav (which I always said google maps, not AA/CP would satisfy a majority of people calling for AA/carplay), but I can't find it now.

I think it was the Q&A in San Jose.

 

[LetsgoRIVN]

Still burning through over $1B per quarter. They have about 1 year left in cash now. Hopefully, the retooling makes a significant difference. Regardless, I see a noticeable dilution coming soon.

1 year ? You mean 2! They have almost $8bn in the bank

 

[jeeden]

Wow, not much in the report unexpected,

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