Rivian Losing $38,000 / Vehicle -- CEO: Those Results Exceeded Our Outlook -- May 15, 2024

Locator: 47161EVS.

Link here.

Sort of reminds me of the old adage: "He's out standing in his field."

Selling more (revenue) and losing more. What's wrong with that picture? 

From the linked article:

Rivian announced a loss of $1.24 per share in the first quarter, down from a $1.25 loss a year ago, while revenue increased more than 80% to $1.204 billion. Analysts predicted a loss of $1.15 per share in Q1 with sales totaling $1.17 billion.

Meanwhile, Rivian ended Q1 with $7.858 billion in cash, cash equivalents, and short-term investments. Rivian ended Q4 with around $9 billion in cash.

Rivian also lost $38,784 per vehicle delivered in Q1.

"First-quarter results exceeded our outlook ...." -- CEO.