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Rivian Issues Disappointing Sales Guidance for Q3

Russell Shor Written by Russell Shor

Further to our previous article, Rivian (RIVN.us) has given disappointing guidance and wants to raise more funds by issuing convertible notes.

Yesterday, the company issued a filing which gave preliminary Q3 sales at between $1.29bn and $1.33bn. FactSet suggests that analysts are looking for $1.31bn in revenue.

The company is also looking to raise funds by a private offering of R1.5bn of "green" convertible senior notes, due in 2030, to "qualified institutional buyers." The plan gives buyers an option to purchase an additional $224m in notes.

The notes are senior unsecured obligations. Moreover, noteholders will have the right to convert their notes to shares under certain circumstances and during specified periods.

The guidance comes after the company said it delivered more units than forecast in Q3.

Rivian was down close to 8% in premarket trading.

Russell Shor

Senior Market Strategist

Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.

Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.

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