Slide 1: Q2 2026 Update
Q2 2026 Update 1
Slide 2: Highlights Financial Summary Operational Summary
Highlights 03 Financial Summary 04 Operational Summary 05 Manufacturing & Hardware 06 Supporting Infrastructure 07 AI & Software 08 Services 09 Outlook 10 Photos & Charts 11 Key Metrics 23 Financial Statements 26 Additional Information 32 2
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $0.4B GAAP operating income Q2 was a strong quarter for our core vehicle, energy and services businesses as well as our manufacturing, infrastructure and AI initiatives. Our focus remains on strengthening these core $1.1B GAAP net income businesses and making the nec
Slide 4: Financial Summary
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 YoY Total automotive revenues 16,661 21,205 17,693 16,234 20,516 23% Energy generation and storage revenue 2,789 3,415 3,837 2,408 3,139 13% Services and other revenue 3,046 3
Slide 5: Operational Summary
OPERATIONAL SUMMARY (Unaudited) Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 YoY Model 3/Y production 396,835 435,826 422,652 394,611 442,936 12% Other models production 13,409 11,624 11,706 13,775 8,822 -34% Total production 410,244 447,450 434,358 408,386 451,758 10% Model 3/Y deliveries 373,728 481,16
Slide 6: Manufacturing & Hardware
MANUFACTURING & HARDWARE Installed Annual Manufacturing Capacity Automotive Region Product Capacity Status Our overall Q2 record deliveries were supported by record deliveries in several markets, Automotive including South Korea, Australia, Colombia, Japan, Taiwan, Thailand, Portugal, the Philippine
Slide 7: Supporting Infrastructure
SUPPO RTING INFRASTRUC TURE Installed Annual Capacity AI Training Compute Region Asset Capacity Status We have more than doubled our onsite compute in Texas (in terms of MW of compute) during AI Training Compute the first half of 2026. Cortex 2 supports the development of both vehicle and humanoid r
Slide 8: AI & Software
AI & SOFTWARE AI Software 12.0 FSD Miles on V12 and Beyond FSD Miles on V11 and Before We began delivering FSD v14 lite to customers in the U.S. and South Korea (the latter in July) with 10.0 AI3 hardware. This software build distills the driving behavior from AI4’s v14 series into both the 8.0 came
Slide 9: Services
SERVICES Robotaxi 2,500,000 Cumulative Paid Robotaxi Miles We started production of Cybercab, our purpose-built autonomous EV designed to be the 2,000,000 workhorse of our Robotaxi fleet. Engineering test drives of production Cybercabs on public roads also began during the quarter, and we began offe
Slide 10: Outlook
OUTLOOK Volume We are focused on maximum capacity utilization at our factories. Deliveries and deployments will be impacted by aggregate demand for our products, supply chain readiness and allocation decisions between sale to customers or use for our owned and operated fle et. Cash We will manage th
Slide 11: Photos & Charts
PHOTOS & CHARTS TELA
Slide 12: The Tesla Ecosystem – Building a World of Amazing Abundance
TH E TESLA ECOSYSTEM – BUILD IN G A WO RLD O F AMAZING ABUND AN CE 12
Slide 13: Model YL – Now Available in the U.S.
MODEL YL – NOW AVAILABLE IN THE U.S. 13
Slide 14: Model YL – First Builds at Gigafactory Texas
MODEL YL – FIRST BUILDS AT GIGAFACTORY TEXA S 14
Slide 15: Cybercab – Autonomous Rides for Employees at Gigafactory Texas
CYBERCAB – AUTONOMOUS RIDES FOR EMPLOYEES A T GIGAFACT ORY TEXAS 15
Slide 16: Robotaxi – Ramping Unsupervised in Miami
ROBOTAXI – RAMPING UNSUPERVISED IN MIAMI 16
Slide 17: Cybercab – Production at Gigafactory Texas
CYBERCAB – PRODUCTION AT GIGAFACTORY TE XAS 17
Slide 18: Optimus – First Generation Production Line in Fremont
O PTIMUS – FIRST GEN ERAT ION PRODUCTION LINE IN FREMONT 18
Slide 19: Optimus – First Generation Production Line in Fremont
O PTIMUS – FIRST GEN ERAT ION PRODUCTION LINE IN FREMONT 19
Slide 20: Tesla Semifactory – Building Exterior
TESLA SEMIFACT ORY – BUILDIN G EXTERIOR 20
Slide 21: Tesla Semifactory – End of Line
TESLA SEMIFACTORY – END OF LINE 21
Slide 22: Tesla Lithium Day – In-House Battery-Grade Lithium Production Ramp in Texas
TESLA L IT HIUM D AY – IN-H OUSE BAT TERY-GRAD E LITH IUM PROD UCTION RAM P IN T EXAS 22
Slide 23: Key Metrics Quarterly
K E Y MET RICS 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 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2025 1Q-2026 2Q-2026 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2025 1Q-2026 2Q-2026 3Q-2
Slide 24: Key Metrics Trailing Months (TTM)
K E Y MET RICS TRAILING 12 MONTH S (TTM ) (Unaudited) 2.0 20 20 1.8 18 18 1.6 16 16 1.4 14 14 1.2 12 12 1.0 10 10 0.8 8 8 0.6 6 6 0.4 4 4 0.2 2 2 0.0 0 0 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2025 3Q-2025 4Q-2025 1Q-2026 2Q-2026 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q
Slide 25: Key Metrics Year-over-Year Financial Summary
K E Y MET RICS YEAR–OVER–YEAR FINANCIAL SUMMARY Revenue Total quarterly revenue increased 26% YoY to $28.2B. YoY, revenue was impacted by the following items (1): + increase in vehicle deliveries + growth in Services and Other + positive FX impact of $0.5B1 + growth in Energy Generation and Storage
Slide 26: Financial Statements
FINANCIAL STATEMENTS
Slide 27: Statement of Operations
STA TEMENT O F OPERATI ONS (Unaudited) In millions of USD or shares as applicable, except per share data Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 REVENUES Automotive sales 15,787 20,359 16,750 15,473 20,006 Automotive regulatory credits 439 417 542 380 146 Automotive leasing 435 429 401 381 364 Total
Slide 28: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 30-Jun-25 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 ASSETS Current assets Cash, cash equivalents and short-term investments 36,782 41,647 44,059 44,743 43,524 Accounts receivable, net 3,838 4,703 4,576 3,959 4,087 Inventory 14,570 12,276 12,392 14,434 13,75
Slide 29: Statement of Cash Flows
STA TEMENT OF CAS H FL OWS (Unaudited) In millions of USD Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 CASH FLOWS FROM OPERATING ACTIVITIES Net income 1,190 1,389 856 491 1,128 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 1,43
Slide 30: 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 Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 Net income attributable to common stockholders (GAAP) 1,172 1,373 840 477 1,114 Stock-based compensation expense, net of tax
Slide 31: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 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-2025 1Q-2026 2Q-2026 Net cash provided by operating activities (GAAP) 3,278 2,513 3,065 3,308 4,370 242 3,612 6,2
Slide 32: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its second quarter 2026 financial results conference call beginning at 4:30 p.m. CT on July 22, 2026 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS Wh
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