Electric vehicle maker Rivian Automotive Inc. (RIVN) on Thursday reported first-quarter results, with its net loss narrowing from last year as revenue increased year-over-year.
Revenue for the quarter was $1.38 billion, compared to $1.24 billion in the same period last year.
The company reported a net loss of $416 million, or loss per share of $0.33, compared to a net loss of $541 million, or $0.48 per share, a year ago.
The improvement in results was driven by growth in higher-margin software and services revenue, which rose 49% year-over-year, as well as increased vehicle deliveries.
During the quarter, Rivian produced 10,236 vehicles and delivered 10,365 units.
Looking ahead, the company expects full-year 2026 vehicle deliveries between 62,000 and 67,000 units and adjusted EBITDA in the range of negative $2.10 billion to negative $1.80 billion.
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