(NASDAQ: RIVN) could fit the bill if the electric vehicle (EV) industry regains its mojo. But this truck and SUV maker must navigate some serious near-term roadblocks before it gets there. Let's discuss what the next 12 months might have in store growth stock , Rivian's thesis depends on its ability to grow fast enough to overcome operating conditions that would probably be unacceptable for a more established company. Second-quarter earnings highlight how difficult this process might be. Revenue declined by around 4% year over year to $1.16 billion, as the company's expensive lineup seems to be getting stale. Margins remain abysmal, with Rivian generating a gross loss of $33,705 per vehicle delivered despite their high sticker prices. That's before even considering operating expenses like research or office salaries. In total, Rivian burned through around $1.4 billion in Q2 operations, which is alarming since its balance sheet only contains cash and equivalents worth $5.76 billion. The company will likely need to turn to outside sources of capital like shareholder dilution (creating and selling more stock), which will reduce current investors' claim on future revenue by expanding the number of shares outstanding. But while dilution is never fun, it can be a good trade-off if the new capital is used to create long-term value. What will the next 12 months have in store? The next 12 months could make or break Rivian. But Scaringe is optimistic, promising investors that his company can turn its first gross profit by the fourth quarter. This would make the $33,705 per car that Rivian lost in Q2 drop to just zero by the end of the year, without help from the new R2 vehicles expected to launch next year. Futuristic car racing past lights. Image source: Getty Images.