Tesla reported Q1 2026 revenue of $22.39 billion, a 16% year-over-year increase, while gross margin reached 21.1% — the highest in over a year. The company delivered 358,023 vehicles during the quarter and ended it with $44.7 billion in cash. This post covers Tesla’s latest revenue data, vehicle deliveries, segment breakdown, stock performance, market share, and operational metrics through Q1 2026.
Tesla Statistics 2026 — TL;DR
Tesla’s Q1 2026 revenue was $22.39 billion, up 16% from Q1 2025’s $19.34 billion.
Full-year 2025 revenue fell 3% to $94.8 billion — the first annual revenue decline in Tesla’s history.
Tesla delivered 358,023 vehicles in Q1 2026, up 6.3% year over year but down 14.4% from Q4 2025.
The TSLA stock price was around $410 as of mid-May 2026, with a market cap near $1.5 trillion.
Tesla reclaimed the global BEV (battery electric vehicle) sales lead from BYD in Q1 2026, delivering more pure-electric vehicles than any other automaker during the quarter.
How Much Revenue Did Tesla Generate in 2025 and Q1 2026?
Tesla’s full-year 2025 revenue totaled $94.83 billion, down 3% from $97.69 billion in 2024. That was the first time Tesla recorded an annual revenue decline. The drop came from weak automotive sales across the first half of the year, with Q1 2025 revenue falling 9% and Q2 2025 dropping 12% year on year. Q3 2025 broke the trend with a 12% gain, and Q4 2025 came in at $24.9 billion, down 3% from Q4 2024.
Q1 2026 reversed the direction. Revenue reached $22.39 billion, a 16% increase from Q1 2025. Automotive revenue was $16.23 billion (+16%), services and other revenue hit $3.75 billion (+42%), and energy generation and storage brought in $2.41 billion, down 12% from the prior year.
Tesla Quarterly Revenue (Q1 2025 – Q1 2026)
| Quarter | Total Revenue | YoY Change |
|---|---|---|
| Q1 2025 | $19,335M | -9% |
| Q2 2025 | $22,496M | -12% |
| Q3 2025 | $28,095M | +12% |
| Q4 2025 | $24,901M | -3% |
| Q1 2026 | $22,387M | +16% |
Source: Tesla SEC filings (Form 8-K), SEC EDGAR
Tesla Revenue by Segment: What’s Growing?
Tesla’s revenue mix has shifted. Automotive still dominates, but energy and services are gaining ground. In Q1 2026, automotive accounted for 72.5% of total revenue, down from around 79% in FY2024. Services and other — which includes insurance, maintenance, and parts — grew the fastest at 42% year over year. Energy revenue dipped 12%, coming off a record Q4 2025 quarter.
Over full-year 2025, the automotive segment generated roughly $69.5 billion, energy generation and storage about $12.8 billion, and services around $12.5 billion. FY2024’s energy segment had already shown 67% growth over FY2023, and that momentum largely carried into 2025.
Q1 2026 Revenue by Segment
| Segment | Q1 2026 Revenue | Q1 2025 Revenue | YoY Change |
|---|---|---|---|
| Automotive | $16,234M | $13,967M | +16% |
| Energy Generation & Storage | $2,408M | $2,730M | -12% |
| Services & Other | $3,745M | $2,638M | +42% |
| Total | $22,387M | $19,335M | +16% |
Source: Tesla Form 8-K Q1 2026, SEC EDGAR
How Many Vehicles Did Tesla Deliver in 2025 and Q1 2026?
Tesla delivered 1,636,129 vehicles in full-year 2025, an 8.6% drop from 1,789,226 in 2024. Production came in at 1,654,667 units. That decline followed an already soft 2024, which itself was down 1.1% from 2023’s peak of 1,808,581 deliveries.
In Q1 2026, Tesla delivered 358,023 vehicles and produced 408,386. The 50,000-unit gap between production and deliveries was the largest production-delivery spread in recent quarters, raising questions about near-term demand. Model 3 and Model Y accounted for 341,893 of those deliveries, while other models (including Cybertruck, Model S, and Model X) contributed 16,130.
Tesla Quarterly Vehicle Deliveries (Q1 2025 – Q1 2026)
| Quarter | Total Deliveries | Model 3/Y | Other Models |
|---|---|---|---|
| Q1 2025 | 336,681 | 323,800 | 12,881 |
| Q2 2025 | 384,122 | 373,728 | 10,394 |
| Q3 2025 | 497,099 | 481,166 | 15,933 |
| Q4 2025 | 418,227 | 406,585 | 11,642 |
| Q1 2026 | 358,023 | 341,893 | 16,130 |
Source: Tesla Form 8-K quarterly production/delivery reports, SEC EDGAR
Tesla Profitability and Margins: Q1 2026 Update
Tesla’s GAAP gross margin in Q1 2026 hit 21.1%, up from 16.3% in Q1 2025 — a jump of 478 basis points. Operating income rose 136% year over year to $941 million, though the operating margin of 4.2% remains well below 2024’s levels. GAAP net income was $477 million, with diluted EPS of $0.13 (GAAP) and $0.41 (non-GAAP).
Free cash flow for Q1 2026 was $1.44 billion, a big improvement over Q1 2025’s $664 million. Cash and short-term investments on hand reached $44.7 billion. Tesla has guided for over $25 billion in capital expenditures during 2026, up sharply from $8.6 billion in 2025, as the company expands AI infrastructure, factory capacity, and its Robotaxi program.
Tesla Profitability Metrics (Q1 2025 – Q1 2026)
| Metric | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|
| Gross Margin | 16.3% | 17.2% | 18.0% | 20.1% | 21.1% |
| Operating Margin | 2.1% | 4.1% | 5.8% | 5.7% | 4.2% |
| Net Income (GAAP) | $409M | $1,172M | $1,373M | $840M | $477M |
| Free Cash Flow | $664M | $146M | $3,990M | $1,420M | $1,444M |
Source: Tesla Form 8-K quarterly earnings releases, SEC EDGAR
What Is Tesla’s Stock Price and Market Cap in 2026?
TSLA shares were trading at roughly $410 as of May 18, 2026. The stock hit a 52-week high of $498.83 on December 22, 2025, and a 52-week low of $273.21 earlier in the cycle. Year to date, TSLA is down about 20% from its December peak, though it has recovered roughly 15% over the past month.
Tesla’s market capitalization sits near $1.5 trillion as of mid-May 2026, keeping it among the ten most valuable public companies worldwide. The price-to-earnings ratio remains elevated at around 386, reflecting the market’s expectations around Tesla’s autonomous vehicle and energy storage ambitions rather than current earnings alone.
| Metric | Value (May 2026) |
|---|---|
| Stock Price | ~$410 |
| Market Cap | ~$1.5 trillion |
| 52-Week High | $498.83 (Dec 22, 2025) |
| 52-Week Low | $273.21 |
| P/E Ratio | ~386 |
Source: Robinhood, TradingView, CompaniesMarketCap (May 2026)
Tesla’s Global EV Market Share in 2025 and 2026
Tesla’s share of the global battery-electric vehicle (BEV) market declined over the course of 2025. According to Counterpoint Research, Tesla held 17% of global BEV sales in Q2 2024, but that figure dropped to 10% by Q4 2025. BYD finished 2025 as the largest BEV seller globally.
In Q1 2026, Tesla reclaimed the top spot. Tesla delivered 358,023 BEVs while BYD’s pure-electric deliveries fell to about 310,389 — a 25% year-over-year decline for the Chinese automaker. In the U.S. specifically, Tesla accounted for roughly 45% of all new EV sales in early 2026 according to Cox Automotive analysis, down from 49% in 2024 and 75% at the start of 2022. Competition from legacy automakers and Chinese EV brands continues to erode that share.
Tesla Global BEV Market Share by Quarter
| Quarter | Tesla Share | BYD Share |
|---|---|---|
| Q2 2024 | 17% | 17% |
| Q3 2024 | 17% | 16% |
| Q4 2024 | 14% | 16% |
| Q1 2025 | 12% | 15% |
| Q3 2025 | 13% | 16% |
| Q4 2025 | 10% | 15% |
Source: Counterpoint Research
Tesla Energy Storage and Supercharger Network
Tesla deployed 8.8 GWh of energy storage products in Q1 2026, down from a record 14.2 GWh in Q4 2025. For full-year 2025, total energy deployed was roughly 46.7 GWh (summing Q1–Q4: 10.4 + 9.6 + 12.5 + 14.2), up from 31.4 GWh in 2024. Megapack and Powerwall installations are the primary products behind this segment.
The Supercharger network reached 8,463 stations with 79,918 connectors globally as of Q1 2026, a 19% increase over the year-ago period. Tesla also reported 1.28 million active FSD (Full Self-Driving) subscriptions at end of Q1 2026, up 51% year over year from 850,000. The Robotaxi service expanded to Austin, Dallas, and Houston, though revenue from that program was still immaterial as of the Q1 2026 earnings call.
| Metric | Q1 2025 | Q1 2026 | YoY Change |
|---|---|---|---|
| Energy Storage Deployed | 10.4 GWh | 8.8 GWh | -15% |
| Supercharger Stations | 7,131 | 8,463 | +19% |
| Supercharger Connectors | 67,316 | 79,918 | +19% |
| Active FSD Subscriptions | 0.85M | 1.28M | +51% |
Source: Tesla Form 8-K Q1 2026, SEC EDGAR
Tesla Employees and Operational Stats
Tesla had approximately 134,780 employees as of May 2026, according to TradingView data. That’s up from 125,665 at the end of 2024. The company guided for over $25 billion in capital expenditures during 2026, up from $8.6 billion spent in 2025 — a nearly threefold increase tied to factory expansion, AI compute buildout, and preparations for the Optimus humanoid robot and Robotaxi production at scale.
Cumulative all-time Tesla deliveries crossed 9.2 million vehicles as of the end of Q1 2026. The company’s global vehicle inventory stood at 27 days of supply, up from 22 days a year earlier — another signal of the production-delivery gap widening.
FAQs
What was Tesla’s revenue in Q1 2026?
Tesla reported $22.39 billion in total revenue for Q1 2026, a 16% increase from $19.34 billion in Q1 2025. Automotive revenue was $16.23 billion and services revenue was $3.75 billion.
How many vehicles did Tesla deliver in 2025?
Tesla delivered 1,636,129 vehicles in full-year 2025, down 8.6% from 1,789,226 in 2024. Q3 2025 was the strongest quarter with 497,099 deliveries.
What is Tesla’s market cap in 2026?
Tesla’s market capitalization is approximately $1.5 trillion as of mid-May 2026. The stock trades near $410 on NASDAQ under the ticker TSLA.
What is Tesla’s gross margin in 2026?
Tesla’s GAAP gross margin reached 21.1% in Q1 2026, the highest since early 2024. That’s a 478 basis point improvement from Q1 2025’s 16.3%.
Does Tesla still lead global EV sales?
Tesla reclaimed the top spot in pure-electric (BEV) sales in Q1 2026 with 358,023 deliveries, overtaking BYD which had 310,389 BEV sales that quarter.
Sources:
https://counterpointresearch.com/en/insights/global-electric-vehicle-market-share-quarterly
https://caredge.com/guides/electric-vehicle-market-share-and-sales
https://insideevs.com/news/792143/tesla-no1-ev-maker-q1-2026/
With many years of professional experience within transnational corporations in different industries, Richard Jaimes has had the opportunity to lead people and organizations, investigate future topics, create strategies and innovations, consult senior management and translate insights into business advantages. Richard is also a long time senior consultant with Quantumrun Foresight.
