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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Keith Noonan, The Motley FoolSat, January 17, 2026 at 9:02 PM GMT+1 4 min readRivian's path to profitability continues to hinge on its ability to scale up its production and deliveries.The EV specialist delivered fewer vehicles in 2025 than in either 2024 or 2023.Shareholders are hoping that the company's R2 vehicles will boost gross margins and reduce its operating expenses per unit.10 stocks we like better than Rivian Automotive ›Rivian (NASDAQ: RIVN) is gearing up to launch its next vehicle platform, and the stock price has surged by roughly 36% over the last year in anticipation. Still, the electric vehicle (EV) company's share price is down by roughly 90% from the all-time high it touched in late 2021 -- and big questions remain about the business's potential path to profitability. Growth in the EV market has slowed substantially since the company held its initial public offering in 2021, and the rise of competition from Chinese manufacturers could seriously dampen Rivian's growth trajectory. Is Rivian stock yesterday's news, or could the EV maker carve out a durable position that translates into big returns for shareholders who buy now?Image source: Rivian.In the third quarter, Rivian's revenue grew by 78% year over year to roughly $1.56 billion. It also posted a gross profit of $24 million -- an improvement of $416 million compared to the prior-year period, when it booked a steep gross loss. Rivian has begun to post positive gross margins, which is admittedly a major positive development. On the other hand, those gross margins are still very low -- and it continues to post big net losses.Its automotive gross profits still came in at negative $130 million. That shrunk its automotive gross loss by $249 million compared to last year's Q3, but its cost of goods sold continues to be higher than its revenue. The company delivered 13,201 vehicles in the third quarter and announced at the beginning of this month that it had delivered 9,745 vehicles in Q4. The late-year drop-off meant that the company closed out 2025 with fewer deliveries than it posted in either 2023 or 2024, and on a quarterly basis, it has yet to surpass the peak of 15,564 units delivered in the third quarter of 2023.With the company on the verge of rolling out its R2 SUVs, Rivian will have opportunities to reenergize deliveries and significantly increase its customer base. The R2 models will be significantly cheaper than the company's R1 models. A surge in unit demand should help the company support the expansion of its manufacturing and provide it with some economies-of-scale benefits, but it could still be a while before Rivian is posting positive gross profits on its vehicles. 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