Rivian Automotive (RIVN) Q3 2022 Earnings Call Transcript

For the period ending Semptember 30, 2022

November 9, 2022 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and thank you for standing by. Welcome to the Rivian Third Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions].

I would now like to hand the conference over to your speaker for today, Tim Bei. You may begin.

Tim Bei

Good afternoon, and thank you for joining us for Rivian's third quarter 2022 earnings call. Joining us on today's call, we have RJ Scaringe, our Founder, Chairman and Chief Executive Officer; and Claire McDonough, our Chief Financial Officer. A copy of today's shareholder letter is available on our Investor Relations website.

Before we begin, I would like to remind you that during the course of this conference call, our comments and responses to your questions reflect management's views as of today only and will include statements related to our business that are forward-looking statements under federal securities laws, including, without limitation, statements regarding our market opportunity, industry trends, business operations, strategy and goals, our production ramp and manufacturing capacity expansion, our proposed joint venture with Mercedes Benz, our future products and product enhancements, including R2, and our expectations regarding vehicle deliveries.

Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with our business, which are described in our SEC filings and today's shareholder letter. During this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in today's shareholder letter.

With that, I'll turn the call over to RJ who will begin with a few opening remarks.

RJ Scaringe

Thanks, Tim. Hello, everyone, and thank you for joining us today. Just before the call, we published our shareholder letter, which includes an overview of our progress over the recent months. I encourage you to read it for additional details around some of the items we'll cover on today's call.

Having just passed the 1-year anniversary of the start of production for the R1T, I want to take this opportunity to highlight the progress our team has made this past year. We launched 4 variants across our consumer and commercial vehicle platforms. We are awarded MotorTrend's Truck of the Year, along with other media accolades. We produced more than 15,000 vehicles as of September 30, and we continue to ramp our production to fully utilize our normal facility.