Rivian (RIVN) reported strong fourth quarter results after the bell on Thursday and came through on its goal of posting a “gross profit” for the quarter, with a smaller-than-expected full-year 2024 EBITDA (earnings before interest, taxes, depreciation, and amortization) loss to boot. The company also sees a smaller loss in 2025 compared to a year ago.
Rivian reported a gross profit of $170 million in the fourth quarter, primarily driven by “improvements in variable costs, revenue per delivered unit, and fixed costs,” the company said in a statement.
“This quarter we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023,” Rivian CEO RJ Scaringe said in a statement. “Our focus on cost efficiency across the business is critical for the launch of our mass market product, R2. The R2 bill of materials…
