Rivian Automotive (RIVN) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter was nearly flat compared to the immediately preceding period. However, revenue rose sharply from the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter was nearly flat compared to the immediately preceding period. However, revenue rose sharply from the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$661M
Revenue reported for this quarter.
Quarter-over-quarter
-0.3%
Change from the immediately preceding quarter.
Year-over-year
+595.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $364M | n/a |
| Sep 30, 2022 | $536M | +53500.0% |
| Dec 31, 2022 | $663M | +1127.8% |
| Mar 31, 2023 | $661M | +595.8% |
Revenue performance
The reported revenue reflects a minimal sequential decline from the prior quarter. On a year-over-year basis, the company achieved substantial revenue growth.
Quarterly comparison
Revenue decreased slightly from the preceding quarter after a period of rapid sequential increases. Compared to the same quarter last year, revenue was significantly higher.
What to watch
The flat sequential revenue trend may warrant attention given the prior pattern of strong quarterly growth.