Rivian (RIVN) reaffirms 57K production guidance, gross profit in Q4 2024

Rivian expects to achieve a positive gross profit by the end of 2024. This expectation is based on the company's efforts to cut costs and improve efficiency, including engineering design changes, reductions in raw material costs, and negotiating better deals with suppliers.

In Q1 2024, Rivian's loss per vehicle was approximately $39,000, including depreciation and stock-based compensation3. This is an improvement from the $67,300 loss per vehicle in Q1 2023 but up slightly from the $32,594 and $30,500 losses in Q2 and Q3 2023, respectively5.