Tesla, Inc. 10-Q

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS Tesla, Inc. Consolidated Balance Sheets (in millions, except per share data) (unaudited) June 30, 2026 December 31, 2025 Assets Current assets Cash and cash equivalents $ 15,219 $ 16,513 Short-term investments 28,305 27,546 Accounts receivable, net 4,087 4,576 Inventory 13,752 12,392 Prepaid expenses and other current assets 7,395 7,615 Total current assets 68,758 68,642 Operating lease vehicles, net 4,253 4,912 Energy generation and storage systems, net 4,510 4,604 Property, plant and equipment, net 47,255 40,643 Operating lease right-of-use assets 6,386 6,027 Digital assets 674 1,008 Deferred tax assets 7,235 6,925 Other non-current assets 9,453 5,045 Total assets $ 148,524 $ 137,806 Liabilities Current liabilities Accounts payable $ 15,324 $ 13,371 Accrued liabilities and other 15,256 13,279 Deferred revenue 3,427 3,424 Current portion of debt and finance leases 1,418 1,640 Total current liabilities 35,425 31,714 Debt and finance leases, net of current portion 7,924 6,736 Deferred revenue, net of current portion 4,073 3,631 Other long-term liabilities 13,583 12,860 Total liabilities 61,005 54,941 Commitments and contingencies (Note 11) Redeemable noncontrolling interests in subsidiaries 54 58 Equity Stockholders’ equity Preferred stock; $ 0.001 par value; 100 shares authorized; no shares issued and outstanding — — Common stock; $ 0.001 par value; 6,000 shares authorized; 3,949 and 3,751 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 4 3 Additional paid-in capital 45,859 42,770 Accumulated other comprehensive income 401 361 Retained earnings 40,594 39,003 Total stockholders’ equity 86,858 82,137 Noncontrolling interests in subsidiaries 607 670 Total liabilities and equity $ 148,524 $ 137,806 The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Contents Tesla, Inc. Consolidated Statements of Operations (in millions, except per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues Automotive sales $ 20,006 $ 15,787 $ 35,479 $ 28,712 Automotive regulatory credits 146 439 526 1,034 Automotive leasing 364 435 745 882 Total automotive revenues 20,516 16,661 36,750 30,628 Energy generation and storage 3,139 2,789 5,547 5,519 Services and other 4,581 3,046 8,326 5,684 Total revenues 28,236 22,496 50,