US electric vehicle manufacturer Rivian Automotive reported a 27% increase in second-quarter revenue while significantly narrowing its net loss, supported by growth in its software business and the launch of deliveries for its new R2 electric vehicle.
The company generated revenue of US$1.658 billion during the second quarter of 2026, compared with the same period a year earlier.
Software Business Drives Growth
Automotive revenue rose 23% year-on-year to US$1.143 billion, while Rivian’s Software & Services division recorded a 37% increase in revenue to US$515 million.
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The company said approximately US$308 million, representing 60% of Software & Services revenue, was generated through its joint venture with Volkswagen, which focuses on developing next-generation vehicle software and zonal electrical and electronic (E/E) architecture.
Volkswagen is currently Rivian’s largest shareholder, holding a 15.9% equity stake.
Net Loss Narrows
Rivian reported a net loss attributable to common shareholders of US$837 million for the April-to-June quarter.
The result represents an improvement of approximately 25% from the US$1.115 billion net loss recorded during the corresponding period of 2025.
Production and Deliveries Increase
During the quarter, Rivian manufactured 12,613 battery-electric vehicles at its Normal, Illinois, production facility and delivered 12,194 vehicles to customers.
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Following the launch of customer deliveries for its flagship R2 model in mid-June, the company increased its full-year 2026 delivery forecast.
Rivian now expects to deliver between 65,000 and 70,000 vehicles this year, up from its previous guidance of 62,000 to 67,000 units.
Amazon Fleet Continues to Expand
The company also highlighted continued deployment of its commercial electric delivery vans through its long-term partnership with Amazon.
According to Rivian, Amazon now operates more than 40,000 Rivian electric delivery vans, which are used to distribute packages across thousands of cities throughout North America.
The expanded fleet underscores Rivian’s growing presence in the commercial electric vehicle market alongside its consumer vehicle business and software operations.
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