Stock

# Tesla (TSLA)

Tesla's Q3 revenue was flat at $28.0 billion with a 2.6% operating margin, as Robotaxi miles grew and a board committee reviews ties with SpaceX with no terms agreed.

Updated Oct 29, 2026

Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

## What it does

Tesla makes electric vehicles, energy storage systems and solar products. It runs a Robotaxi service in Austin and has started production of Optimus humanoid robots.

## Role in the theme

In **Space and autonomy**, Tesla is the self-driving and robotics company of the group. A board committee is exploring a deeper relationship with SpaceX; no terms have been agreed.

## Latest

- **2026-10-22:** Tesla's 10-Q says a special committee of disinterested directors is exploring a deeper relationship with SpaceX, which could include a business combination. A deal would need the committee's backing and any necessary approval by Tesla's investors.
- **2026-10-21:** Q3 revenue was $28.0 billion, about flat. Operating margin was 2.6% and net income was $787 million. Free cash flow was $1.5 billion.
- **2026-10-21:** Energy generation and storage revenue fell about 16% to $2.9 billion. Storage deployments were 13.7 GWh. Vehicle deliveries were 486,532, down 2%.
- **2026-10-21:** Tesla recorded a $142 million unrealized loss on its SpaceX equity investment.
- **2026-10-21:** Cumulative unsupervised Robotaxi miles reached nearly two million, and Cybercab joined the Austin fleet. Optimus production began on lines in Fremont.
- **2026-10-19:** Tesla's annual meeting is set for 2026-12-03. The proxy lists three items: electing three directors, a say-on-pay vote and ratifying the auditor. There is no merger item.
- **2026-10-15:** Tesla unveiled the next-generation Roadster.

## What to watch

- Any filing that names terms or advisers for a SpaceX combination. None has been disclosed.
- Robotaxi growth and Cybercab deployment in Austin.
- Energy storage deployments after 13.7 GWh in Q3.
- The annual meeting on 2026-12-03.
- Next report: Q4 2026 results, date not confirmed.

## Covered in

- Theme: [Space and autonomy](/research/themes/space-autonomy)

## Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.
- [Tesla 10-Q for the quarter ended September 30, 2026](https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm)Primary 2026-10-22
- [Tesla Q3 2026 update](https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm)Primary 2026-10-21
- [Tesla 2026 proxy statement (DEF 14A)](https://www.sec.gov/Archives/edgar/data/1318605/000110465926116700/tm267596-1_def14a.htm)Primary 2026-10-19
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