Rivian Automotive, Inc. stock research
FY2025 Q1
Rivian Automotive (RIVN) Gross Margin — Quarter Ended Mar 31, 2025
Revenue was unchanged versus the year-ago quarter, while gross profit turned positive from a significant loss, and cost of revenue declined. Compared to the prior quarter, revenue was lower, gross profit improved, cost of revenue decreased, and gross margin expanded.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue was unchanged versus the year-ago quarter, while gross profit turned positive from a significant loss, and cost of revenue declined. Compared to the prior quarter, revenue was lower, gross profit improved, cost of revenue decreased, and gross margin expanded.
- The expansion of gross margin was driven by a larger reduction in cost of revenue relative to the change in revenue, resulting in a substantially higher gross profit.
- Gross margin improved from the prior quarter and strengthened markedly from a negative level one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
16.6%
Gross profit
$206.0M
Revenue
$1.2B
Cost of revenue
$1.0B
Quarter-over-quarter change
+6.8 pts
Year-over-year change
+60.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2024 | $1.2B | -$451.0M | $1.6B | -38.9% |
| Sep 30, 2024 | $874.0M | -$392.0M | $1.3B | -44.9% |
| Dec 31, 2024 | $1.7B | $170.0M | $1.6B | 9.8% |
| Mar 31, 2025 | $1.2B | $206.0M | $1.0B | 16.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
+6.8 pts
Year-over-year change
Mar 31, 2024
+60.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The expansion of gross margin was driven by a larger reduction in cost of revenue relative to the change in revenue, resulting in a substantially higher gross profit.
Gross margin improved from the prior quarter and strengthened markedly from a negative level one year earlier.
Monitor the trend in cost of revenue relative to revenue, as the recent improvement depends on sustaining lower input costs.