Q1 2025 Earnings Report & Shareholder Letter Released

[Katsudon]

Link to earnings/shareholder letter:

https://downloads.ctfassets.net/2md5qhoeajym/CgJi4zWSk36Q5qX4pYfVH/26a5b919c4b5c8563312c87d8e6bb21e/EX_-_99.2_1Q25_Shareholder_Letter.pdf

Check out the R2 validation builds (from the shareholder letter)

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[DuoRivians]

40-46k revised delivery guidance is the only thing that looks bad

 

[RivianRiverRat]

are those Dune R2's?

 

[DuoRivian]

40-46k revised delivery guidance is the only thing that looks bad

Agreed and when you take out the 10k EDVs for Amazon plus other companies taking EDVs now that leaves 30-35k R1 vehicles for the whole year (of which one third is now complete).

 

[ACDC]

are those Dune R2's?

Looks like Dune, but without clear coat applied yet?

 

[Hereforthesnacks]

Crap: Rivian to cut its 2025 delivery outlook to 40,000 to 46,000 units (from 46,000 to 51,000).

I did not expect a further cut.

 

[Jonger1150]

40-46k revised delivery guidance is the only thing that looks bad

They're simply running out of buyers who can afford a vehicle in the average price range of $85,000 or so.

The R2 is obviously 1000% required for growth. Tesla Model S & X sell so few that they could discontinue both and barely anyone would notice. Too expensive.

 

[SANZC02]

Crap: Rivian to cut its 2025 delivery outlook to 40,000 to 46,000 units (from 46,000 to 51,000).

I did not expect a further cut.

I think they are just trying to stay ahead of the country’s economic uncertainty, things will probably get pretty sketchy when we get into late June early July when we start seeing supply shortages and price increases from these tariff policies.

Big ticket items are the first things people start eliminating in tough times.

 

[UnsungZero_OldTimeAdMan]

Looks like Dune, but without clear coat applied yet?

Dear God, no. We don't need Dune-is-primer-with-clearcoat-gate. /s

 

[savethemanual]

They did maintain its 2025 full-year adjusted EBITDA loss projection in the range of $1.7 billion to $1.9 billion...so that hasn't changed.

 

[mkg3]

Automobile News reporting a net loss

 

[electruck]

Automobile News reporting a net loss

for a company in a capital intensive industry that is still rapidly expanding, a net loss is practically a given. this is why the focus so far has been on getting to positive gross profit. still nice to see the net loss is down almost a billion over the same period last year.

 

[mkg3]

for a company in a capital intensive industry that is still rapidly expanding, a net loss is practically a given. this is why the focus so far has been on getting to positive gross profit. still nice to see the net loss is down almost a billion over the same period last year.

Agreed but just imagine what the financial would have looked without the VWG's $1b investment last year. 2024Q1 did not have VWG investment. 2025Q1 does.

 

[kurtlikevonnegut]

I'd love it if some of those validation builds start showing up as permanent fixtures at their Spaces that people can actually interact with.

 

[UnsungZero_OldTimeAdMan]

Lots of "experts" in here should try to run their own car company one of these days.

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