Slide 1: Q3 2025 Update
Q3 2025 Update 1
Slide 2: Highlights
Highlights 03 Financial Summary 04 Operational Summary 06 Automotive 07 Core Technology 08 Energy & Services and Other 09 Outlook 10 Photos & Charts 11 Key Metrics 20 Financial Statements 22 Additional Information 28 2
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $1.6B GAAP operating income In Q3, the Tesla team achieved record vehicle deliveries globally, showing strength and growth across all regions, while also achieving record energy storage deployments across the $1.4B GAAP net income residential, industrial and utility
Slide 4: Financial Summary
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 YoY Total automotive revenues 20,016 19,798 13,967 16,661 21,205 6% Energy generation and storage revenue 2,376 3,061 2,730 2,789 3,415 44% Services and other revenue 2,790 2,
Slide 5: Financial Summary
FINANCIAL SUMMARY Revenue Total revenue increased 12% YoY to $28.1B. YoY, revenue was impacted by the following items(1): + increase in vehicle deliveries + growth in Energy Generation and Storage + growth in Services and Other - lower regulatory credit revenue - lower one-time FSD revenue recogniti
Slide 6: Operational Summary
OPERATIONAL SUMMARY (Unaudited) Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 YoY Model 3/Y production 443,668 436,718 345,454 396,835 435,826 -2% Other models production 26,128 22,727 17,161 13,409 11,624 -56% Total production 469,796 459,445 362,615 410,244 447,450 -5% Model 3/Y deliveries 439,975 471,9
Slide 7: Automotive
AUTOMOTIVE Current Installed Annual Vehicle Capacity We launched several new vehicle options across multiple geographies as we aim to increase Region Model Capacity Status utilization of our manufacturing footprint and expand our addressable markets. California Model S / Model X 100,000 Production M
Slide 8: Core Technology
CORE TECHNOLOGY Artificial Intelligence Software and Hardware 6.0 FSD Miles on V12 and Beyond FSD Miles on V11 and Before We began deploying v14 of FSD (Supervised)(1) in October, bringing a large portion of the Robotaxi 5.0 FSD model to consumers plus improved handling of several complex scenarios
Slide 9: Energy & Services and Other
ENERGY & SERVICES AND OTHER Energy Generation and Storage 4,500 4,000 We achieved our highest quarterly energy storage deployments, bolstered by the continued 3,500 ramp of Megafactory Shanghai and another record quarter of Powerwall deployments. Gross 3,000 2,500 profit increased sequentially and y
Slide 10: Outlook
OUTLOOK Volume It is difficult to measure the impacts of shifting global trade and fiscal policies on the automotive and energy supply chains, our cost structure and demand for durable goods and related services. While we are making prudent investments that will set up our vehicle, energy and other
Slide 11: Photos & Charts
PHOTOS & CHARTS
Slide 12: Model 3 & Model Y Standard – The Tesla lineup is now more affordable
MODEL 3 & MODEL Y STANDARD – THE TESLA LINEUP IS NOW MORE AFFORDABLE 12
Slide 13: Model Y Performance – 0-60 mph in 3.3 seconds
MODEL Y PERFORMANCE – 0-60 MPH IN 3.3 SECONDS 13
Slide 14: Model YL – The extended wheelbase, three-row option
MODEL YL – THE EXTENDED WHEELBASE , THREE - ROW OPTION 14
Slide 15: Model YL – The extended wheelbase, three-row option
MODEL YL – THE EXTENDED WHEELBASE , THREE - ROW OPTION 15
Slide 16: Gigafactory Texas – 500K vehicles produced
GIGAFACTORY TEXAS – 500K VEHICLES PRODUCED 16
Slide 17: Optimus – At the Tron Ares premiere
OPTIMUS – AT THE TRON ARES PREMIERE 17
Slide 18: Las Megas – Megapack launch event
LAS MEGAS – MEGAPACK 3 LAUNCH EVENT 18
Slide 19: Las Megas – Megapack launch team
LAS MEGAS – MEGAPACK 3 LAUNCH TEAM 19
Slide 20: Key Metrics Quarterly
KEY METRICS QUARTERLY (Unaudited) 0.5 7 8 6 7 0.4 5 6 4 5 0.3 3 2 4 0.2 1 3 0 2 0.1 -1 1 -2 0.0 -3 0 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2022
Slide 21: Key Metrics Trailing Twelve Months (TTM)
KEY METRICS TRAILING 12 MONTHS (TTM) (Unaudited) 2.0 18 20 1.8 16 18 1.6 14 16 1.4 14 12 1.2 12 10 1.0 10 8 0.8 8 6 0.6 6 0.4 4 4 0.2 2 2 0.0 0 0 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q
Slide 22: Financial Statements
FINANCIAL STATEMENTS
Slide 23: Statement of Operations
STATEMENT OF OPERATIONS (Unaudited) In millions of USD or shares as applicable, except per share data Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 REVENUES Automotive sales 18,831 18,659 12,925 15,787 20,359 Automotive regulatory credits 739 692 595 439 417 Automotive leasing 446 447 447 435 429 Total au
Slide 24: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25 ASSETS Current assets Cash, cash equivalents and investments 33,648 36,563 36,996 36,782 41,647 Accounts receivable, net 3,313 4,418 3,782 3,838 4,703 Inventory 14,530 12,017 13,706 14,570 12,276 Prepaid e
Slide 25: Statement of Cash Flows
STATEMENT OF CASH FLOWS (Unaudited) In millions of USD Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income (1) 2,189 2,143 420 1,190 1,389 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 1
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD or shares as applicable, except per share data Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Net income attributable to common stockholders (GAAP) (1) 2,173 2,128 409 1,172 1,373 Stock-based compensation expense, net o
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 Net cash provided by operating activities (GAAP) 3,995 2,351 5,100 3,278 2,513 3,065 3,308 4
Slide 28: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its third quarter 2025 financial results conference call beginning at 4:30 p.m. CT on October 22, 2025 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS
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