To understand the mainline concern about electric vehicle manufacturer Rivian Automotive (NASDAQ:RIVN) and why retail investors shouldn’t immediately jump on the technically bullish sentiment in the options market comes down to the classic cost-benefit analysis. Yes, RIVN does look more attractive thanks to its Volkswagen (OTCMKTS:VWAGY) deal. That should help Rivian stock, especially in the pursuit of cheaper EVs. However, there’s a catch.Professional baseball offers an excellent analogy. Offensively, two ...

hapabapa Last week, we received second quarter results from Rivian (NASDAQ:RIVN), seen in this shareholder letter. While the company did make progress on some of its cost cutting efforts, production guidance for the year was only maintained and cash burn remained high. With some potential tough times still ahead, investors might want to consider selling this premium valuation name for now. Previous coverage on the name: When I last covered the stock, Rivian had just announced its major partnership with ...

The electric vehicle upstart is struggling. Can it turn the corner?Making cars is tough, and it's even tougher if you start a new vehicle brand from scratch. The huge upfront investments required for production create a barrier to entry, so very few new automotive brands achieve sustainable success. Recent examples include Tesla and BYD, but there are dozens of failures for every successful car business.Rivian Automotive (RIVN -5.23%) is trying to become the next sustainable automotive brand. By focusing on ...

文章核心观点 - 瑞维安(Rivian)股价在过去三个月内大涨,这可能会持续下去 [1] - 瑞维安作为一家新兴汽车制造商,在电动汽车行业转型的背景下,从头建立起一家汽车制造商是一项艰巨的任务,但公司有机会取得成功 [2][3] 公司运营和成本管控 - 公司对R1车型进行了二代升级,通过减少65个零件和近1,500个连接点,提高了生产效率,将车型生产率提高了30% [4][5] - 公司采用了新的内部研发的Ascent Tri驱动系统,提高了性能并降低了制造成本约32% [5] - 公司将电子控制单元(ECU)从17个减少到7个,减少了1.6英里的线束长度,大幅降低了ECU成本 [6] - 这些改进措施以及商业成本改善和大宗商品价格下降,预计将在2024年第四季度与2024年第一季度相比,使车辆材料成本降低20%,有助于公司今年实现正毛利 [7][10] - 公司在第二季度的经营活动现金流改善了41%,这是吸引投资者(如大众的50亿美元投资承诺)的关键因素 [8] 软件和未来发展 - 公司自主研发的可扩展和通用的软件平台,可能会被投资方(如大众)用于合资项目,或通过许可协议为公司带来收入 [9] - 未来关键指标包括成本降低、交付量保持预期水平,以及在第四季度实现正毛利 [10] - 尽管第二季度业绩未能推动股价上涨,但公司在成本降低、效率提升以及充足现金储备等方面仍有亮点 [11]

Why the quarter may be the most important in its history.Rivian's (RIVN -5.23%) second quarter could go down as the most important in its history after the electric vehicle (EV) maker introduced its next-generation vehicle platform and struck a partnership with Volkswagen Group (OTC: VWAGY). However, those important events happened toward the end of the quarter and did not have a major impact on its Q2 results.Let's take a look at Rivian's most recent quarterly results and why the company appears to be read ...

The electric vehicle maker still looks deeply undervalued.Rivian Automotive's (RIVN -5.23%) stock tumbled 7% on Aug. 7 after it posted a mixed second-quarter report. The electric vehicle (EV) maker's revenue rose 3% year over year to $1.16 billion and exceeded analysts' expectations by $20 million.But its net loss widened from $1.2 billion to $1.46 billion, or $1.46 per share, missing the consensus forecast by $0.21. It slightly narrowed its adjusted earnings before interest, taxes, depreciation, and amorti ...

Sundry Photography If there was any takeaway from the second quarter earnings of Rivian Automotive (NASDAQ:RIVN) yesterday, it was that it is becoming increasingly imperative for the electric-vehicle company to institute major cost cuts in order to improve its profitability. The electric-vehicle company reported a slightly lower loss than expected for the second quarter, but Rivian Automotive’s cash reserves continue to dwindle. I think that Rivian Automotive is overall on a good path, particularly beca ...

文章核心观点 - 公司在2021年IPO时估值超过1000亿美元,现已降至不到140亿美元 [2] - 公司与大众集团达成合作,大众将向公司提供多达50亿美元的投资 [7] - 公司目前仍处于亏损状态,2024年第二季度净亏损14.6亿美元,自成立以来已烧掉210亿美元的股东权益 [5] - 公司需要更多资金来扩大生产规模,但目前的现金流和资产规模难以支撑 [6] - 大众集团的投资缓解了公司的流动性风险,但长期来看公司仍面临盈利和现金流的挑战 [9] 根据目录分类总结 公司财务状况 - 公司2024年第二季度净亏损14.6亿美元,收入仅11.5亿美元 [5] - 公司目前现金和现金等价物为78.7亿美元,长期债务55亿美元,净现金23.7亿美元 [5] - 公司计划在2024年第四季度实现"适度"毛利润,2027年实现调整后EBITDA正值,但这两个目标都难以实现 [5] - 公司资本支出占收入比重高达20%,远高于宝马、大众等传统车企 [6] - 公司目前仅有38亿美元的厂房、机器设备等资产,远低于宝马、大众等车企 [6] 大众集团投资 - 大众集团将向公司提供10亿美元可转债投资,并与公司成立合资公司,总投资最高可达50亿美元 [7] - 合资公司将基于公司R2平台开发软件定义车辆架构,这是大众集团的主要目标 [8] - 大众集团的投资缓解了公司的流动性风险,使其有资金支持R2车型的量产 [9] - 但即使有大众集团的投资,公司未来几年仍将持续亏损,直到2027年才有望实现调整后EBITDA正值 [9] 行业竞争 - 公司与特斯拉、宝马、大众等车企在资金实力、生产规模等方面存在较大差距 [6] - 中国车企如小米等在短时间内建立了较大的生产能力,公司在成本和效率上难以与之竞争 [6]

Rivian Automotive TodayRIVNRivian Automotive$13.78 -1.02 (-6.89%) 52-Week Range$8.26▼$25.73Price Target$19.67Add to WatchlistRivian NASDAQ: RIVN made progress on several fronts in Q2 and reached a pivotal quarter, at least in the eyes of its CEO. However, despite the good news, the stock price will return to $10 and may move even lower. The reason is simple. Rivian isn’t making money but burning it. Costs are up YoY despite cost-control efforts, and it’ll be a long time until true profitability is reached.  ...

文章核心观点 - 公司已大幅降低成本,预计在2022年第四季度和2025年全年实现正毛利[1][4][5][6] - 公司品牌力持续强劲,其电动车受到广泛好评[7] - 公司在多个领域拥有巨大机遇,包括与大众的合作、推出新款更便宜的电动车、进军欧洲市场以及与大型企业签订新合同[2][8][9][10] 根据目录分别总结 公司财务进展 - 公司通过技术和与供应商的新交易大幅降低了材料成本[5] - 公司还降低了商品成本,并将生产线速度提高约30%[5] - 公司计划通过销售更多电动车、降低折旧费用、首次销售二手车以及销售更多排放信用来提高毛利率[5] - 公司正在降低每辆电动车的毛损,从第一季度的38,784美元下降到第二季度的32,705美元,其中14,000美元为非现金成本[6] 品牌力和发展机遇 - 公司电动车受到广泛好评,J.D. Power的年度APEAL研究将其评为行业最佳[7] - 与大众的合作有望降低公司成本,并为其带来大量收入[8] - 公司正在开发新的R2和R3电动车型,定价在45,000美元以下,有望在美国和欧洲市场获得广泛需求[10] - 公司正在与亚马逊以外的其他公司进行电动货车试点项目,预计将为公司带来收入[11] 一个令人失望的遗漏 - 公司与摩根奥尔森的交易在上一季度尚未产生收入,但考虑到汽车生产周期较长,预计该交易长期内仍将为公司带来收益[12]