Rivian projects revenue between $1.55 billion and $1.65 billion, surpassing the $1.46 billion consensus estimate from analysts polled by FactSet. This guidance represents a gain over the $1.3 billion reported during the same quarter last year, driven primarily by an uptick in total vehicle deliveries. Despite the positive volume, the company warned that lower average selling prices—a byproduct of its commercial van mix—will create a drag on overall performance.

This forecast follows a stronger-than-expected delivery report from last week, which highlighted robust growth for the R1 flagship and the electric delivery van, alongside the initial rollout of the R2 midsize crossover. Investors reacted sharply to the mixed financial guidance, sending shares down 8.2% to $18.48 in after-hours trading. Before this decline, the stock had maintained a 2.2% gain for the year.