In Q1'26, Rivian (RIVN)'s Gross Margin stood at 8.6%, reflecting a slight decline from the previous quarter's 9.3% but remaining positive amid ongoing profitability efforts. Operating Margin was -63.8%, showing marginal improvement from Q4'25's -64.7% yet still deeply negative due to high operational costs. Net Profit Margin improved to -30.1%, up from -63.1% in Q4'25, indicating reduced net losses as the company progresses toward breakeven. Over the period from Q2'23 to Q1'26, all margins exhibited a volatile trajectory, starting with deep negatives—Gross Margin at -36.8%, Operating at -114.6%, and Net at -106.6%—before a pivotal turnaround in Q4'24, where Gross Margin flipped to positive 9.8% and others narrowed significantly. This shift highlights improved cost controls and revenue growth in vehicle production, though fluctuations persisted, with Gross Margin dipping to -15.8% in Q2'25 before recovering. Overall, the trends signal gradual stabilization, but sustained positivity in Operating and Net Margins remains challenged by scaling expenses in the EV sector.