Rivian software revenue rises 45% as R2 leads vehicle sales

Rivian reported $605 million in third-quarter software and subscription revenue, up 45 percent year over year, as its R2 became its best-selling vehicle by volume. Software and services generated $256 million in profit, up $102 million from a year earlier, largely from Volkswagen technology licensing and Autonomy Plus subscriptions. Total revenue reached $2.155 billion, a 38 percent increase. The automotive business still recorded an $80 million gross loss, compared with a $130 million loss a year earlier. Rivian does not disclose sales by model, so the R2's lead does not establish how many reached customers.