Rivian will give investors a crucial first quarter update on its financials as the pure-play adventure EV maker attempts to turn the tide from losses to...
) will give investors a crucial first quarter update on its financials as the pure-play adventure EV maker attempts to turn the tide from losses to profit this year.Conserving cash while still developing its new vehicles is of paramount concern for investors as 2024 progresses.
In terms of its cash cushion, Rivian said it had $7.86 billion in cash and cash equivalents at the end of Q4, down from the $9.1 billion it had at the end of Q3.Founder and CEO of Rivian RJ Scaringe speaks onstage during the Rivian Reveals All-Electric R2 Midsize SUV event at Rivian South Coast Theater on March 7, 2024, in Laguna Beach, Calif. In March at an event in Laguna Beach, Calif., Rivian unveiled its smaller, less expensive electric R2 SUV, which is expected to arrive in 2026.
“In our view, the path to R2 profitability would also be harder to believe if the company cannot deliver gross margin positive on R1,” Deutsche Bank’s Emmanuel Rosner wrote following the R2’s reveal.
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