Rivian stock extends gains as 2024 revenue rose to $5 billion

Rivian stock extends gains as the company (ISIN US76954A1034) reported 2024 revenue of $5.0 billion, up from $4.4 billion in 2023, alongside a narrower adjusted EBITDA loss of $2.69 billion for 2024. Rivian also ended 2024 with $7.9 billion in cash, cash equivalents, and short-term investments, giving the balance sheet a larger cushion as it pushed through its production ramp.

Revenue rose to $5 billion

Rivian said 2024 revenue reached $5.0 billion, compared with $4.4 billion a year earlier, a year-over-year increase of about 13.6%. Automotive revenue was the main driver, supported by deliveries of 51,579 vehicles in 2024, versus 50,122 in 2023.

The company also produced 49,476 vehicles in 2024, down from 57,232 in 2023, which shows that output and deliveries were still moving at different speeds during the year. That gap matters because Rivian has been balancing factory throughput, model mix, and cost control at the same time.

Losses narrowed in 2024

Rivian reported an adjusted EBITDA loss of $2.69 billion in 2024, compared with a loss of $3.75 billion in 2023. The improvement of $1.06 billion reflects lower operating losses as volumes improved and fixed costs were spread across more revenue.

Net cash used in operating activities was $1.7 billion in 2024, down from $2.9 billion in 2023, another sign that the company entered the year with better cash discipline. Rivian also said it had $7.9 billion in cash, cash equivalents, and short-term investments at year-end, compared with $9.4 billion at the end of 2023.

Liquidity still matters

The market focus stays on whether Rivian can keep shrinking losses while funding the next phase of product and platform development. A balance sheet with $7.9 billion at year-end 2024 gives more room than the prior year, but the company still needs sustained improvement in unit economics to turn the ramp into durable profitability.

That is why the year-over-year change in revenue, the smaller adjusted EBITDA loss, and the lower operating cash burn matter more than a single delivery headline. The numbers point to progress, but they also show how much scale Rivian still needs.

R1T and R1S still drive volume

Rivian’s current business is still anchored by the R1T pickup and R1S SUV, which remain the main volume products in its lineup. Those models underpinned the 2024 delivery total of 51,579 vehicles, while the company prepared for a broader product mix in the years ahead.

Price and trading context

Rivian shares closed at $13.75 on 22 July 2026, according to the latest market quote available in this article context. The stock is still being judged against the 2024 operating figures, especially the 13.6% revenue increase, the $2.69 billion adjusted EBITDA loss, and the $7.9 billion liquidity position.