New York, Feb 13, 2026, 10:57 (EST) — Regular session
- Rivian shares rose about 22% in morning trading after upbeat delivery guidance and an earnings beat
- Rivian is leaning on the lower-cost R2 SUV to drive growth as the EV market pivots toward affordability
- Investors are weighing a higher spending plan and ongoing losses against improving gross profit
Rivian Automotive shares jumped about 22% to $17.03 on Friday, after touching $17.89 earlier in the session. The stock was last up 21.6% at 10:42 a.m. EST, with more than 50 million shares traded.
The move followed Rivian’s bet that a cheaper model can reopen demand after the U.S. $7,500 EV purchase credit expired and policy shifts in Washington hit sentiment. Ford and General Motors have kept affordable EV plans intact, and Piper Sandler analysts wrote that “nothing matters more than a timely launch for the R2 SUV.” If the gains stick, Rivian is set to add more than $3 billion in market value, after the stock slid about 29% year-to-date through Thursday’s close. (Reuters)
Shares had already jumped more than 15% in after-hours trade on Thursday after Rivian beat estimates with an adjusted loss per share of 54 cents and forecast 2026 deliveries of 62,000 to 67,000 vehicles. The company expects the R2 — a smaller SUV starting at about $45,000, similar to Tesla’s Model Y — to begin shipping in the second quarter, and CEO RJ Scaringe said “the growth is really … what we see in R2.” Rivian pegged 2026 capital spending at $1.95 billion to $2.05 billion, ended December with $3.58 billion in cash and cash equivalents and said it expects $2 billion this year from a technology joint venture with Volkswagen, with Scaringe saying it could raise more capital. (Reuters)
A regulatory filing showed Rivian posted $1.286 billion in fourth-quarter revenue and $120 million of consolidated gross profit, while full-year gross profit swung to $144 million from a $1.2 billion loss in 2024. Net loss attributable to common stockholders was $811 million in the quarter. Automotive revenue fell to $839 million, but software and services revenue rose to $447 million; Rivian guided to an adjusted EBITDA loss — earnings before interest, taxes, depreciation and amortization — of $1.8 billion to $2.1 billion for 2026. (SEC)
In its shareholder letter, Rivian said its Autonomy+ driver-assist subscription will be priced at either a $2,500 one-time fee or $49.99 per month, leaning harder on software as it ramps production. The company said the launch R2 dual-motor all-wheel-drive version targets over 300 miles of range and a 0-60 mph time of 3.6 seconds. Rivian also said Amazon has more than 30,000 of its electric delivery vans in use in the United States. (SEC)
For now, that is the trade: prove the R2 can scale, and the rest follows. The market has little patience for another year of flat volumes.
Investors will also parse what sits behind the headline gross profit. Rivian still has to turn its core vehicle business into a money maker, not just its services line.
But the ramp will cost money. A slip in the R2 timetable, supply issues or another demand wobble could force deeper discounting or a faster return to the capital markets.
In the session ahead, traders will watch for follow-through after the first wave of analyst notes and for any hints on how quickly Rivian can rein in cash burn as spending rises.
Rivian said it will share additional R2 product and line-up details on March 12, a near-term check on trims and pricing ahead of expected second-quarter customer deliveries. (Nasdaq)
