Rivian reported strong fourth quarter results after the bell on Thursday and came through on its goal of posting a "gross profit" for the quarter, with a smaller than expected full-year 2024 EBITDA loss to boot.

This improvement was attributed to increased revenue per delivered unit, better variable cost management, and reductions in fixed costs.

Despite the net loss, the electric vehicle maker reported a positive gross profit of $170 million, partly through regulatory credits that it sells other automakers.