Rivian Automotive (RIVN) Revenue — Quarter Ended Sep 30, 2024
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year earlier. The sequential drop marked a reversal from the growth seen in preceding periods.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year earlier. The sequential drop marked a reversal from the growth seen in preceding periods.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$874M
Revenue reported for this quarter.
Quarter-over-quarter
-24.5%
Change from the immediately preceding quarter.
Year-over-year
-34.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.6B
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 |
|---|---|---|
| Dec 31, 2023 | $1.3B | +98.3% |
| Mar 31, 2024 | $1.2B | +82.1% |
| Jun 30, 2024 | $1.2B | +3.3% |
| Sep 30, 2024 | $874M | -34.6% |
Revenue performance
The reported revenue decreased from the immediately preceding quarter, breaking a pattern of prior quarter-over-quarter increases.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was lower, extending a trajectory of year-over-year decline that has persisted for multiple quarters.
What to watch
Monitor whether the sequential revenue decline continues or stabilizes in the upcoming reporting period.