Rivian Automotive Inc. has announced expectations to narrow its adjusted losses to between $1.7 billion and $1.9 billion in 2025, a significant reduction from the $2.69 billion adjusted loss recorded in 2024. This optimistic outlook accompanies the company's forecasted deliveries of 46,000 to 51,000 units for the coming year, following the delivery of 51,579 vehicles in 2024. The electric vehicle manufacturer has also reported its first gross quarterly profit in the fourth quarter of 2024, amounting to $170 million.
In an impressive financial performance, Rivian's revenue for the fourth quarter of 2024 reached $1.73 billion, marking a more than 31% increase from the same period in the previous year. For the entire year of 2024, Rivian's revenue saw a 12% rise from 2023, totaling $4.97 billion. Despite these gains, the company experienced a net loss of $743 million in the final quarter of 2024, translating to a loss of 70 cents per share.
The company's positive quarterly gross profit and revenue were supported by a significant contribution of $299 million from the sale of regulatory credits and an additional $214 million from software and services. These factors played a crucial role in bolstering Rivian's financial standing during the fourth quarter.
Looking ahead, Rivian has set its capital expenditures for 2025 between $1.6 billion and $1.7 billion. The company is also gearing up for the launch of its new "R2" midsize vehicles in 2026, signaling a promising expansion in its product lineup.
Rivian's full-year revenue for 2024 stood at $4.97 billion. However, the company reported a net loss of $4.75 billion for the year, underscoring the challenges it faces as it continues to scale operations and manage production costs.