Rivian Q1 Beat, Shares Fall 4%

Rivian posted Q1 adjusted EBITDA of -$472 million, beating consensus of -$500 million, with revenue of $1.38 billion.
Despite the earnings beat, Rivian shares slipped 4% in pre‑market trading, as analysts noted the profit boost stemmed from regulatory credits.
The company raised Georgia plant capacity to 300,000 R2 vehicles, up from 200,000, targeting cost efficiency and a late‑2028 start.
Rivian secured a $1 billion Volkswagen investment and saw software/services revenue rise 49% YoY, driven by architecture and maintenance.