Rivian Automotive, Inc (RIVN) Q3 2024 Earnings Breakdown
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Description
Key Highlights:
Rivian produced 36,749 vehicles and delivered 37,396 vehicles during the nine months ended September 30, 2024.
The company launched its pre-owned vehicle program in Q3 2024.
Rivian issued a $1,030 million Convertible Note to Volkswagen Group in 2024.
Total long-term debt as of September 30, 2024: $5,505 million.
Cash and cash equivalents as of September 30, 2024: $1,549 million.
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Revenue Growth: Total net revenue increased to $3.283 billion, up from $2.978 billion in the same period of the prior year. This was primarily driven by growth in service revenue, particularly from QuickBooks Online Accounting and Online Services.
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