- Tesla's Q2 FY26 automotive gross margin excluding regulatory credits fell to 16.3% from 19.2%, and energy gross margin dropped to 20.4% on the absence of prior-quarter benefits and warranty true-ups.
- Net income was lifted by a $1 billion mark-to-market gain on Tesla's SpaceX holdings, offsetting other losses.
- Tesla plans more than $25 billion of 2026 capital expenditure for Robotaxi fleets and Optimus robot production, funded by $30 billion in new debt facilities, and proposed a $10.1 billion Texas facility aimed at 100 GW of annual US solar manufacturing capacity by 2028.
- Ron Baron says now is the time to buy Tesla stock, citing 11 million FSD users with 55% year-over-year adoption growth, 1.48 million active Q2 2026 FSD subscriptions, and over 380,000 unsupervised Robotaxi miles across six cities.
- Tesla traded at $357.83, down 20.43% year to date, with Q2 revenue up 25.52% to $28.24 billion, operating margin compressed to 1.4%, and free cash flow at negative $1.09 billion.
Quotes
“automotive gross margins excluding regulatory credits declined to 16.3% from 19.2%”
“Net income benefited significantly from a $1 billion mark-to-market gain on its SpaceX holdings”
“Tesla Inc (NASDAQ: TSLA) stopped selling its premium Solar Roof tiles in August”
“11 million FSD users with 55% year-over-year adoption growth”
“active FSD subscriptions reached 1.48 million, a 56% increase year-over-year”