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Rivian put Point to Point on an invite-only track as software revenue hit $605m

Rivian's third-quarter filing dated its address-to-address supervised driving feature to an invitation-only program this year and a general release in 2027, as software and services revenue grew 45 percent to $605 million.

An empty two-lane road curving over a rise toward a bank of low cloud at dusk.
Illustrative photo · Hannah Russell / Pexels · not the vehicle described

Rivian Automotive filed its third-quarter results on October 29, reporting software and services revenue of $605 million, a 45 percent increase over the same quarter of 2025. It attributed the growth to vehicle electrical architecture and software development services, vehicle repair and maintenance, and its Autonomy+ subscription. Of that total, $354 million, or 59 percent, was attributable to the company’s joint venture with Volkswagen Group. Software and services gross profit was $256 million, a 42 percent margin, up from $154 million a year earlier.

The company said vehicles with Autonomy+ can already use Universal Hands-Free, and described its next milestone as Point to Point, which would let customers enter an address and have the vehicle follow the route from start to finish under driver supervision. A limited rollout is expected to begin later this year through the invitation-only Autonomy Early Access Program, with a general release to all Autonomy+ subscribers expected in 2027. Research and development spending rose to $485 million from $453 million, which Rivian attributed primarily to software expenses supporting its AI and autonomy work. An October over-the-air update added Gmail integration to the Rivian Assistant.

Exhibit 99.1, the earnings release, did not set out the remaining Volkswagen investment terms, and the accompanying earnings presentation gave them only as one line in a liquidity table: an additional $460 million Volkswagen Group equity investment targeted at the earlier of the first Volkswagen Group vehicle carrying RV Tech hardware and software on the road, or January 2028. Rivian’s Form 10-Q, filed the same day, states that the balance of the investment agreement falls due on the earlier of January 3, 2028 and the achievement of a Start of Production milestone, at which point Rivian would receive $460 million in exchange for $250 million of its Class A common stock, priced on a 30-trading-day volume-weighted average.

Why it mattersPricing supervised address-to-address driving into a paid subscription turns an autonomy roadmap into a revenue line rather than a cost center, but the 42 percent margin it joins is the software and services segment's, where the Volkswagen joint venture is 59 percent of revenue and no subscription-level margin is disclosed.

Source: Rivian Form 8-K, Exhibit 99.1

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