ICE v Electric: Cost and Emissions

[DomB]

Rivian filed IPO documents. Lots of details. Looks like close to 50,000 preorders.

? Rivian IPO S1 Filing - reveals preorder numbers, R1S delivery date, Autonomous Subscription Fee & more...

https://www.sec.gov/Archives/edgar/data/1874178/000119312521289903/d157488ds1.htm Take Aways: 14 Directed Share Program - Preorder holders will likely be able to participate in the IPO in some fashion. 21 Preorders - 48,390 R1T / R1S as of September 30, 2021 in the United States and Canada...

www.rivianforums.com

 

[DomB]

Rivian filed IPO documents. Lots of details. Looks like close to 50,000 preorders.

? Rivian IPO S1 Filing - reveals preorder numbers, R1S delivery date, Autonomous Subscription Fee & more...

https://www.sec.gov/Archives/edgar/data/1874178/000119312521289903/d157488ds1.htm Take Aways: 14 Directed Share Program - Preorder holders will likely be able to participate in the IPO in some fashion. 21 Preorders - 48,390 R1T / R1S as of September 30, 2021 in the United States and Canada...

www.rivianforums.com

I won't keep filing, but this is interesting. They lost 300 million last quarter and have 3.5 bln cash and almost no debt (3m).

Man it aint cheap to launch a company. Ford and Amazon own 5% each.

 

[DomB]

They had a billion dollars in revenue last year. That shocks me. I don't know revenue booking rules, but this must be a combination of preorders and amazon orders.

 

[Brownski]

T-shirt’ sales maybe?

 

[tirolski]

They had a billion dollars in revenue last year. That shocks me. I don't know revenue booking rules, but this must be a combination of preorders and amazon orders.

If ya book loans as revenue, as Rutgers Athletics does, then ya can make that statement work.
The SEC filing says this:
Revenue and Costs of Revenue
We are a development stage company and have not generated material revenue to date. Vehicle production and deliveries began in September 2021. As we expand production and commercialization of vehicles, we expect the majority of our revenue will be initially derived from sales of consumer and commercial vehicles, accessories, and regulatory credits.

Where do ya come up with yer billion in revenue statement?

 

[Milo Maltbie]

Where do ya come up with yer billion in revenue statement?

Maybe we could get Jeff Skilling to explain it.

mm

 

[D.B. Cooper]

Maybe we could get Jeff Skilling to explain it.

mm

That is brilliant.

 

[DomB]

If ya book loans as revenue, as Rutgers Athletics does, then ya can make that statement work.
The SEC filing says this:
Revenue and Costs of Revenue
We are a development stage company and have not generated material revenue to date. Vehicle production and deliveries began in September 2021. As we expand production and commercialization of vehicles, we expect the majority of our revenue will be initially derived from sales of consumer and commercial vehicles, accessories, and regulatory credits.

Where do ya come up with yer billion in revenue statement?

It looks like I was wrong; they report 0 revenue for last Q, and then they have a discussion as to why they are Jobs Act company; I concluded (wrongly) from the Jobs Act language that they were saying they had 1 bn in revneu:

They report 0 revenue for the last quarter (past below) (page 10).

And then they have a discussion as to why they qualify for certain treatment as a company with less than 1.07 billion last year (page 98). I couldn't find a statement of 1 bn in revenue when I went back; but if you have time check the back of the prospectus where all the financials are:

For The Three Months Ended September 30, 2020​

For The Three Months Ended September 30, 2021​

Actual​

Low (estimated)​

High (estimated)​

(in millions, except ‘Other Metrics’ amounts)​

Revenue

$

—​

Loss from operations

(288)​

Net loss

(288)​

Other Financial Data

Cash and cash equivalents

$

3,561​

Capital expenditures—property, plant, and equipment

204​

Other Metrics

Vehicles Delivered

 

[DomB]

That is brilliant.

I love you guys, but you're dating yourselves : ) I think that was 20 years ago

 

[tirolski]

I love you guys, but you're dating yourselves : ) I think that was 20 years ago

Time flies when yer havin fun.