Shares in Rivian Automotive Inc (NASDAQ:RIVN) rose 14.6% to $14 in after-hours trading on Thursday after the group reported a surprise fourth-quarter earnings beat, adding about $2.5 billion to its market value, though the stock remains down about 27% year to date.
The company exceeded Wall Street expectations with an adjusted loss per share of 54 cents against forecasts of 68 cents and revenue of $1.29 billion compared with estimates of $1.26 billion.
Rivian posted full-year 2025 revenue of $5.37 billion, up 8% from $4.97 billion in 2024, and recorded its first annual gross profit of $144 million, including $120 million in the fourth quarter.
Net loss for the year narrowed to $3.6 billion from $4.75 billion, while fourth-quarter net loss totalled $804 million.
Management said deliveries in 2026 are expected to reach between 62,000 and 67,000 vehicles, an increase of 47% to 59% on 2025, supported by the launch of the R2 sport utility vehicle in the second quarter.
Rivian expects adjusted pre-tax losses of $1.8 billion to $2.1 billion in 2026 and capital expenditure of $1.95 billion to $2.05 billion, as it scales production at its Illinois plant and invests in the new model.