One of the biggest talking points for Rivian (NASDAQ: RIVN) has been that it will generate positive gross profit in the fourth quarter -- and it's a big milestone worthy of celebration. But the truth is when you look at the progress the company has made so far, it becomes evident how much work the company has remaining. This becomes a little more nerve-wracking when deliveries are expected to be roughly flat year over year. Let's take a look at the progress made so far, and Rivian's plan to take the final steps toward its gross profit goals.

One of the numbers that made for a great talking point in quotes, interviews, and articles came from the fourth quarter of 2023. In its shareholder letter, Rivian pointed out that it improved its gross profit per vehicle by a staggering $81,000, roughly. While accurate, when you look at Rivian's progress over time it doesn't show progress in a straight line, and another accurate number could be that Rivian's gross profit per vehicle got worse from the second quarter of 2023 to the second quarter of 2024.

Chart by author. Data source: Rivian shareholder letters.

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Source Fool.com