Tesla, Inc. (TSLA) Q1 2026 Financial Results Summary

The financial results report for Tesla, Inc. (TSLA) was released on April 22, 2026. Below is a summary of the key highlights and financial metrics from the report.

Summary Highlights

• Profitability
  • GAAP Operating Income: $0.9 billion
  • GAAP Net Income: $0.5 billion
  • Non-GAAP Net Income: $1.5 billion
• Progress:
  • Continued development on AI software and Robotaxi infrastructure.
  • Increased demand in APAC and South America, along with a rebound in demand in EMEA and North America.
  • Investments in supply chain resilience and material procurement in response to geopolitical challenges.
• Financial Metrics:
  • Operating Cash Flow: $3.9 billion
  • Free Cash Flow: $1.4 billion
  • Cash and Investments: $44.7 billion (up $0.7 billion)
• Operational Highlights:
  • Approval for FSD (Supervised) in the Netherlands.
  • Launch of unsupervised Robotaxi rides in Dallas and Houston.
  • Ramp-up in lithium, cathode, and LFP production.

Financial Summary (Q1 2025 vs Q1 2026)

Note: All amounts are in millions.

Metric	Q1 2025 (in $M)	Q1 2026 (in $M)	YoY Change (%)
Total Automotive Revenues	13,967	16,234	16%
Energy Generation and Storage Revenue	2,730	2,408	-12%
Services and Other Revenue	2,638	3,745	42%
Total Revenues	19,335	22,387	16%
Total Gross Profit	3,153	4,720	50%
Total GAAP Gross Margin	16.3%	21.1%	478 bp
Operating Expenses	2,754	3,779	37%
Income from Operations	399	941	136%
Operating Margin	2.1%	4.2%	214 bp
Net Income (GAAP)	409	477	17%
Net Income (non-GAAP)	934	1,453	56%
Diluted EPS (GAAP)	0.12	0.13	8%
Diluted EPS (non-GAAP)	0.27	0.41	52%

Key Operational Metrics

• Model 3/Y Production:
  • Q1 2025: 345,454 units
  • Q1 2026: 394,611 units (up 14% YoY)
• Total Production:
  • Q1 2025: 362,615 units
  • Q1 2026: 408,386 units (up 13% YoY)
• Total Deliveries:
  • Q1 2025: 336,681 units
  • Q1 2026: 358,023 units (up 6% YoY)
• Active FSD Subscriptions:
  • Q1 2025: 0.85 million
  • Q1 2026: 1.28 million (up 51% YoY)

Cash Flow and Investments

• Net Cash Provided by Operating Activities: $3.9 billion (up 83% YoY)
• Capital Expenditures: $2.5 billion (up 67% YoY from prior quarter)
• Free Cash Flow: $1.4 billion (up 117% YoY)

Dividend and Share Repurchase

The report does not mention any declared quarterly dividend or share repurchase initiatives during this period.

Outlook

Tesla's strategy focuses on maximizing capacity utilization in factories and managing cash flow for liquidity. The company anticipates continued demand for its products amidst ongoing investments in AI and expansion of services.

This financial results summary provides a comprehensive overview of Tesla's performance in Q1 2026 and outlines the company's ongoing initiatives as well as the impact of external factors on its financial health.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Amounts in millions)

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in millions)

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