Rivian Automotive Inc (NASDAQ:RIVN) stock fell almost 5% in after-hours trading after the electric vehicle maker reported mixed second-quarter results and widened its full-year loss forecast.
The company now expects an adjusted EBITDA loss of $2 billion to $2.25 billion for 2025, up from a previous range of $1.7 billion to $1.9 billion, citing policy headwinds including new tariffs and the looming expiry of EV tax credits.
Revenue came in slightly ahead of forecasts at $1.3 billion, but Rivian failed to post a gross profit, a step back from earlier quarters.
The company produced 5,979 vehicles and delivered 10,661, just under analyst expectations.
Meanwhile, the development of its R2 SUV remains on track, with production planned for 2026.
The stock dropped 56 cents to $11.59.