Rivian Automotive (RIVN) Revenue — Quarter Ended Mar 31, 2024
Revenue decreased from the prior quarter but rose sharply compared with the same quarter a year earlier. The sequential decline followed three consecutive quarters of substantial year-over-year growth.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue decreased from the prior quarter but rose sharply compared with the same quarter a year earlier. The sequential decline followed three consecutive quarters of substantial year-over-year growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
-8.4%
Change from the immediately preceding quarter.
Year-over-year
+82.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$5B
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, 2023 | $1.1B | +208.0% |
| Sep 30, 2023 | $1.3B | +149.4% |
| Dec 31, 2023 | $1.3B | +98.3% |
| Mar 31, 2024 | $1.2B | +82.1% |
Revenue performance
Revenue for the reporting quarter was lower than the immediately preceding quarter, marking a reversal from the prior trend of sequential increases.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was significantly higher, reflecting continued expansion on an annual basis. The year-over-year growth rate, while still strong, was the smallest among the most recent four quarters.
What to watch
The sequential decline in revenue may warrant attention given the prior pattern of consistent quarterly growth.