Revenue Growth Driven by Volume and Mix Recovery
Total revenue grew 15.8% YoY from $19.3B to $22.4B in Q1 2026, suggesting a meaningful recovery in vehicle deliveries and/or improved average selling prices compared to the prior-year period.
Tesla, Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Tesla's Q1 2026 10-Q shows a strong rebound with revenue up 15.8% YoY to $22.4B, gross margin expanding nearly 5 percentage points to 21.1%, and operating income surging 135.8% to $941M, though net income of $477M reflects elevated R&D and SG&A spending.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew 15.8% YoY from $19.3B to $22.4B in Q1 2026, suggesting a meaningful recovery in vehicle deliveries and/or improved average selling prices compared to the prior-year period.
Gross margin improved significantly from 16.3% to 21.1% YoY, indicating that cost reduction efforts on the manufacturing side outpaced revenue growth, with cost of revenue rising only 9.2% versus revenue growth of 15.8%.
Operating income surged 135.8% YoY from $399M to $941M, reflecting strong operating leverage as gross profit grew 49.7% to $4.72B, even as total operating expenses (R&D + SG&A) rose sharply.
Revenue
$22.39B
++15.78% YoY
EPS (Basic)
$0.15
++15.38% YoY
Gross Margin
21.1%
++4.78% YoY
Operating Income
$941M
++135.84% YoY
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