Rivian shares jumped over 7% early Friday and were still up 1.1% as the Nasdaq Composite fell more than 3.5%. The EV maker reported a third-quarter loss, but it was $0.14 better than Wall Street expected, and revenue also beat estimates, helped by the successful ramp-up of its new R2 SUV production. Rivian raised its 2026 guidance, posting gross profit of $176 million and narrowing its operating loss by $100 million from a year earlier. The company ended the quarter with over $5.5 billion in cash and equivalents and expects R2 to reach a positive gross margin by the end of this year. CEO R.J. Scaringe told CNBC that the ramp-up is critical for R2 to reach positive gross margin, which will ultimately contribute to positive gross margin for the business.
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