Rivian CEO on earnings, guidance: R2 deliveries expected to begin in Q2

Core Insights - Rivian's shares experienced a significant increase in after-hours trading following the release of its financial results, indicating positive market sentiment towards the company's performance and future prospects [1] Financial Performance - In Q4, Rivian reported a positive gross margin on a cash basis, achieving approximately $2,000 profit per vehicle, although the company continues to incur losses, expecting to lose between 1.8% and 2.1% this year [2][1] - The difference between cash basis profit and GAAP profit is primarily due to depreciation, which stands at $11,000 per unit [2] Production and Delivery Outlook - Rivian plans to deliver between 62,000 to 67,000 vehicles in the current year, with the R2 program expected to contribute significantly to these figures [3] - Production and delivery of customer vehicles for the R2 program is set to begin in Q2 of this year, with a ramp-up throughout the year [4] Product Pricing and Launch - The starting price for the R2 vehicle is set at $45,000, although the initial launch configuration will be priced higher, with the $45,000 option becoming available shortly thereafter [5][7] - A portfolio of vehicles will be unveiled on March 12, showcasing various combinations and configurations [6]