Rivian Automotive Inc - Ordinary Shares - Class A

NASDAQ:RIVN   12:43:34 PM EDT
29.67
+2.42 (+8.88%)
Other Pre-Announcement

Rivian Automotive Reports Quarterly Loss Per Share Of $1.77

Published: 05/11/2022 22:39 GMT
Rivian Automotive Inc - Ordinary Shares - Class A (RIVN) - Qtrly Loss per Share $1.77.
Total Production for Q1 2022 Was 2,553 Vehicles.
Rivian Automotive - About 5000 Vehicles Produced Since Start of Production As of May 9, 2022.
Qtrly Revenue $95 Million.
Rivian Automotive - More Than 90,000 R1 Net Preorders in U.S. and Canada As of May 9, 2022.
Delivered 1,227 Vehicles in Q1 Generating $95 Million in Revenue.
Rivian Automotive - 2022 Annual Production Target Reaffirmed at 25,000.
Have a Path to Launch R2 in Georgia in 2025 With Our Current Cash on Hand.
Reaffirm the Annual Gudance Provided During Our Fourth Quarter and Fiscal Year 2021 Earnings Call.
Believe That the Supply Chain Constraints Will Continue to Be the Limiting Factor of Our Production.
Rivian Automotive - Since Updating Pricing in March, Received Over 10,000 R1 Preorders for U.S. and Canadian Market With Average Price Over $93,000.
Rivian - If All Supply Constraints Were Resolved, Plant Would Have Ability to Run at 2 Times Currently Expected Output for Remainder of 2022.
Rivian Automotive - Since March 31, Have Been Forced to Stop Production for Longer Periods Than Anticipated Due to Supplier Constraints.
Rivian - Soon We Will Be Launching an Updated Reservation System for New Customers That Separates the Reservation and Configuration Steps.
Rivian Automotive - Supply Chain Continues to Be the Bottleneck of Our Production.