Rivian Automotive reduced its 2026 spending plans and slightly narrowed its previously forecasted losses this year as the company reported second-quarter results Thursday.

The revised guidance now include adjusted losses between $1.8 billion and $2 billion, down from $1.8 billion to $2.1 billion, and capital expenditures of $1.7 billion to $1.8 billion, down from $1.95 billion and $2.05 billion. It reconfirmed a previously raised delivery target of 65,000 to 70,000 vehicles to customers.

Rivian previously said the raised delivery guidance was driven by higher deliveries during the second quarter of its electric delivery van and flagship R1 products.

The company also started delivering its midsize R2 SUV during the quarter. It's ramping up production of that vehicle at its sole production plant in Normal, Illinois, which has capacity to produce 160,000 of the vehicles annually.

Rivian said the $250 million reduction in capital spending at the mid-point was enabled by "project efficiencies and timing of spend," which the automaker previously increased to allow for added investments in new technologies such as its hands-free driving system.

Rivian's second-quarter revenue included $1.14 billion from automotive and $515 million from software and services. The results were slightly higher than its pre-released second-quarter revenue expectations of between $1.55 billion and $1.65 billion that were released last month in conjunction with disclosing a public offering of 75 million shares of its Class A common stock.

Rivian's net loss attributable to common stockholders during the second quarter was $837 million, or 63 cents a share, a $278 million, or 34 cent per share, improvement compared with the second quarter of 2025.

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