TSLA

EX-99.1

2 exhibit991.htm

EX-99.1

exhibit991

Q2 2026 Update 1 Exhibit 99.1

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

S U M M A R YH I G H L I G H T S (1) Refer to the Reconciliation of GAAP to Non–GAAP Financial Information slide (2) Free cash flow = operating cash flow less capex; (3) Includes cash, cash equivalents and short-term investments; (4)Active driver supervision required; does not make the vehicle autonomous; (5) Bay Area operations use FSD (Supervised) pursuant to CA TCP permit # TCP0046782 – A; Note: all information herein refers to the current quarter unless otherwise noted. Profitability $0.4B GAAP operating income $1.1B GAAP net income $1.2B non-GAAP net income1 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 businesses and making the necessary investments that will deliver Amazing Abundance. Tesla generated over $100B in revenue on a trailing twelve-month basis for the first time. We achieved record second-quarter vehicle deliveries, with continued growth in new markets and strength in established markets. Our Energy Storage business returned to growth, achieving its second-best quarterly deployment number and record deployments on a trailing twelve-month basis. The Services and Other business achieved record profitability and margin in the quarter. Cybercab began production at Gigafactory Texas, and Tesla Semi remains on track for production this year at our new factory in Nevada. Progress also continued on battery pack capacity expansion – the main limiting factor to near-term vehicle production volume increase. Megafactory Texas is nearing completion, with start of production planned for this year. Additionally, site selection, preparation, construction and equipment procurement progressed in the quarter for solar and semiconductor manufacturing. FSD (Supervised)4 penetration continued to grow in the quarter with more customers opting for subscription at the time of vehicle purchase. Robotaxi rollout continued in the U.S. and is now live in seven major metros5. Construction at our Fremont Factory for Optimus began after we decommissioned the Model S & X lines, with anticipated production later this year. Tesla is in its largest and most exciting period of investment. From here, there remains much hard work as we aim to revolutionize transportation, energy and productivity through our leading real-world AI. Scaling will be non-linear, and we are focused on long-term value creation. We’ve never been more optimistic about the future. Cash Operating cash flow of $4.7B Free cash flow2 of negative $1.1B $1.2B decrease in our cash and investments3 Operations Record Q2 vehicle deliveries Launched Robotaxi in three cities in Florida in July Began production of Cybercab 3

F I N A N C I A L S U M M A R Y (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 3,475 3,371 3,745 4,581 50% Total revenues 22,496 28,095 24,901 22,387 28,236 26% Total gross profit 3,878 5,054 5,009 4,720 4,751 23% Total GAAP gross margin 17.2% 18.0% 20.1% 21.1% 16.8% -41 bp Operating expenses 2,955 3,430 3,600 3,779 4,353 47% Income from operations 923 1,624 1,409 941 398 -57% Operating margin 4.1% 5.8% 5.7% 4.2% 1.4% -269 bp Adjusted EBITDA 3,401 4,227 4,154 3,668 3,273 -4% Adjusted EBITDA margin 15.1% 15.0% 16.7% 16.4% 11.6% -353 bp Net income attributable to common stockholders (GAAP) 1,172 1,373 840 477 1,114 -5% Net income attributable to common stockholders (non-GAAP) 1,393 1,770 1,761 1,453 1,153 -17% EPS attributable to common stockholders, diluted (GAAP) 0.33 0.39 0.24 0.13 0.32 -3% EPS attributable to common stockholders, diluted (non-GAAP) 0.40 0.50 0.50 0.41 0.33 -18% Net cash provided by operating activities 2,540 6,238 3,813 3,937 4,697 85% Capital expenditures (2,394) (2,248) (2,393) (2,493) (5,789) 142% Free cash flow 146 3,990 1,420 1,444 (1,092) -848% Cash, cash equivalents and short-term investments 36,782 41,647 44,059 44,743 43,524 18% 4

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 373,728 481,166 406,585 341,893 467,762 25% Other models deliveries 10,394 15,933 11,642 16,130 12,364 19% Total deliveries 384,122 497,099 418,227 358,023 480,126 25% of which subject to operating lease accounting 6,670 10,230 10,996

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