Rivian Automotive (RIVN) financial statements
Rivian Automotive reported revenue of $5.4B in fiscal 2025, up 214.6% a year over 4 years.
Net income was -$3.6B.
Free cash flow was -$2.5B.
The diluted share count rose 1110% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Rivian Automotive's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $55M | $1.7B | $4.4B | $5.0B | $5.4B |
| Cost of revenue | $0 | $0 | $520M | $4.8B | $6.5B | $6.2B | $5.2B |
| Gross profit | $0 | $0 | -$465M | -$3.1B | -$2.0B | -$1.2B | $144M |
| Research and development | $301M | $766M | $1.9B | $1.9B | $2.0B | $1.6B | $1.7B |
| Selling, general and admin | $108M | $255M | $1.2B | $1.8B | $1.7B | $1.9B | $2.1B |
| Operating income | -$409M | -$1.0B | -$4.2B | -$6.9B | -$5.7B | -$4.7B | -$3.6B |
| Interest expense | $34M | $8M | $29M | $103M | $220M | $318M | $274M |
| Pre-tax income | -$426M | -$1.0B | -$4.7B | -$6.7B | -$5.4B | -$4.7B | -$3.6B |
| Income tax | $0 | $0 | $0 | $4M | $1M | $5M | $6M |
| Net income | -$426M | -$1.0B | -$4.7B | -$6.8B | -$5.4B | -$4.7B | -$3.6B |
| EPS (diluted) | -$4.35 | -$10.09 | -$22.98 | -$7.40 | -$5.74 | -$4.69 | -$3.07 |
| Diluted shares | 98M | 101M | 204M | 913M | 947M | 1.01B | 1.19B |
| Gross margin | — | — | -845.5% | -188.4% | -45.8% | -24.1% | 2.7% |
| Operating margin | — | — | -7672.7% | -413.5% | -129.4% | -94.3% | -66.5% |
| Net margin | — | — | -8523.6% | -407.2% | -122.5% | -95.5% | -67.7% |
Balance sheet
Fiscal years, from Rivian Automotive's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.3B | $3.0B | $18.1B | $11.6B | $9.4B | $7.7B | $6.1B |
| Receivables | — | $6M | $26M | $102M | $161M | $443M | $555M |
| Inventory | — | $0 | $274M | $1.3B | $2.6B | $2.2B | $1.6B |
| Total current assets | — | $3.0B | $18.6B | $13.1B | $12.3B | $10.6B | $8.6B |
| Property, plant and equipment | — | $1.4B | $3.2B | $3.8B | $3.9B | $4.0B | $5.1B |
| Total assets | — | $4.6B | $22.3B | $17.9B | $16.8B | $15.4B | $14.9B |
| Total current liabilities | — | $611M | $1.3B | $2.4B | $2.5B | $2.3B | $3.7B |
| Long-term debt | — | $47M | $1.2B | $1.2B | $4.4B | $4.4B | $4.4B |
| Total liabilities | — | $742M | $2.8B | $4.1B | $7.6B | $8.8B | $10.3B |
| Shareholders' equity | -$375M | -$1.4B | $19.5B | $13.8B | $9.1B | $6.6B | $4.6B |
| Net debt | -$2.3B | -$2.9B | -$16.9B | -$10.3B | -$3.4B | -$853M | $861M |
Cash flow
Fiscal years, from Rivian Automotive's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$353M | -$848M | -$2.6B | -$5.1B | -$4.9B | -$1.7B | -$779M |
| Capital spending | $199M | $914M | $1.8B | $1.4B | $1.0B | $1.1B | $1.7B |
| Free cash flow | -$552M | -$1.8B | -$4.4B | -$6.4B | -$5.9B | -$2.9B | -$2.5B |
| Stock-based compensation | $0 | $0 | $570M | $987M | $821M | $692M | $741M |
| Net borrowing | $61M | $0 | $1.2B | — | — | — | — |
| Free cash flow margin | — | — | -8029.1% | -387.3% | -132.9% | -57.5% | -46.2% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for RIVN.
Open RIVN in InvestinglyQuestions
What was Rivian Automotive's revenue in 2025?
$5.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Rivian Automotive generate?
-$2.5B in fiscal 2025 (operating cash flow minus capital spending).
From Rivian Automotive's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.