Tesla, Inc. (TSLA) Form 10-Q — Oct 21, 2026
Tesla's Q3 2026 revenue was essentially flat at $28.05 billion, but net income attributable to common stockholders fell 43% year over year to $787 million, with diluted EPS of $0.22 versus $0.39 a year ago. The decline was driven by a 73% collapse in regulatory credits revenue (including a $475 million credit reversal), R&D spending up 69% to $2.76 billion for SI/Optimus programs, and higher CEO-award stock compensation — partially offset by tariff refunds and improved automotive gross margin (18.5% vs 17.0%).
Key figures
- Eps
- 0.22
- Revenue
- 28046000000
- Net Income
- 787000000
- Total Debt
- 9280000000
- Revenue Yoy
- -$49 million (Q3 2026 vs Q3 2025, ~flat)
- Total Assets
- 157517000000
- Cash Position
- 45450000000
- Shares Outstanding
- 3952757946
- Ytd revenue
- 78669000000
- Rd expense q3
- 2761000000
- Rd expense yoy
- +69%
- Si acquisition
- $1.95 billion asset acquisition paid in Tesla stock (Q2 2026)
- Q3 gross margin
- 19.6% (vs 18.0% prior year)
- Bitcoin holdings
- 11,509 units, $962 million fair value, $386 million cost
- Capex nine months
- 13010000000
- Ytd revenue growth
- 13%
- Capex 2026 guidance
- in excess of $20 billion
- Q3 operating income
- 718000000
- Net income yoy change
- -$586 million (-43%)
- Spacex investment cost
- $2.00 billion (March 2026, <1% ownership)
- Ieepa tariff refunds q3
- $526 million energy + $260 million automotive cost reductions
- Accrued warranty balance
- 10138000000
- Q3 diluted eps prior year
- 0.39
- Automotive gross margin q3
- 18.5% (vs 17.0%)
- Energy storage deployed ytd
- 36.0 GWh
- Regulatory credits reversal
- $475 million reversed for contractual return of previously delivered credits
- Spacex investment fair value
- 2865000000
- Regulatory credits revenue q3
- 113000000
- Regulatory credits revenue yoy
- -73%
- Operating cash flow nine months
- 14897000000
- Vehicles produced delivered ytd
- approximately 1.32 million produced and 1.32 million delivered
- Credit agreements september 2026
- $30 billion aggregate commitments
- Resale value guarantee max exposure
- $4.42 billion
AI analysis
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