Rivian Automotive (RIVN) Appoints Harald Kroeger to its Board
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Rivian Reports Bigger Loss, Says Current Models Won't Qualify for Tax Breaks
August 12, 2022 6:14 AM EDTShares of Rivian (NASDAQ: RIVN) are up about 2% in premarket Friday trading after the electric vehicle (EV) company reported Q2 results.
Rivian reported a Q2 adjusted loss per share of $1.62, almost in line with the expected loss per share of $1.61. Revenue came in at $364 million, topping the consensus estimates of $335.7 million.
Rivian also reported an adjusted EBITDA loss of $1.31 billion, wider than the estimated loss of $1.23 billion. Negative adjusted free cash flow stood at $1.56 billion at the end of the quarter.
For the full fiscal year, Rivian expects an adjusted EBITDA... More
