Rivian is set to report its Q2 2025 earnings, and investors are closely watching how recent changes in the electric vehicle (EV) market will impact the company’s performance and outlook. Analysts project Rivian will post second-quarter revenue of around $1.29 billion, an increase from the same period last year, alongside a net loss per share of approximately $0.65—still an improvement over last year’s deeper losses.

One of the major factors affecting Rivian this quarter is the expiration of federal EV tax credits, which has weighed on demand for its R1 trucks and SUVs. The company faces the challenge of restoring consumer interest amid this policy shift and growing industry competition. Delivery and production volumes declined in the second quarter due to a temporary pause at the Normal, Illinois plant for retooling ahead of the upcoming R2 platform. Despite this, Rivian still expects to deliver between 40,000 and 46,000 vehicles in 2025, meaning a significant production ramp-up is required in the year’s second half.

Investors are especially eager for updates on the R2 SUV—a more affordable, mass-market model intended to broaden Rivian’s customer base. The R2 is seen as a crucial catalyst for future growth, and management will need to outline clear production and delivery strategies for this new model.

Another point of focus is Rivian’s financial health. Despite a recent $1 billion investment from Volkswagen, there are ongoing concerns about whether Rivian’s cash reserves can support operations through the R2 launch in 2026 without further shareholder dilution. Margin improvement is also under scrutiny, as the company must demonstrate its ability to manage costs effectively while scaling production.

Overall, this earnings report is a key moment for Rivian to reassure investors about its long-term roadmap, capital strategy, and ability to bounce back in a more challenging EV landscape.