TSLAGet Tesla updates in your inboxBeta
Weekly digests, milestone alerts, and new features — we're building in the open.
Q4 2025 Earnings — Results of Operations
Filed January 28, 2026
Full-year 2025 revenue fell 3% to $94.8B while operating income dropped 38% to $4.4B, as automotive revenue declined 10% amid lower deliveries and the company ramped spending on AI, robotaxis, and Optimus humanoid robots. The bright spot: free cash flow surged 74% to $6.2B and the cash pile grew to $44.1B, giving Tesla a massive war chest to fund its pivot from automaker to "physical AI company" — with six new production lines planned for 2026 across vehicles, robots, energy storage, and batteries.
Filing Items
Item 2.02 — Results of Operations
The company is reporting its quarterly or annual financial results. This is the filing that accompanies an earnings call.
Item 9.01 — Financial Statements
Financial statements and exhibits are attached to this filing. Usually accompanies other items rather than standing alone.
Extracted Milestones (17)
AI6 Inference Chip in Development with Production Planned for 2028
Tesla confirmed that its next-generation AI6 custom inference chip is in development with production planned for 2028, one generation beyond the AI5.
Domestic Cathode Material Production at Texas and LFP Lines at Nevada Expected to Begin in 2026
Tesla expects its Texas cathode material facility and Nevada LFP battery lines to begin production in 2026, further vertically integrating its domestic battery supply chain.
4680 Cells Now Powering Production Model Y Battery Packs
Tesla has begun producing battery packs for certain Model Y vehicles using its in-house 4680 cells, with both anode and cathode dry-electrode production now occurring in Austin.
AI5 Inference Chip Targeting 50x Performance Improvement Over AI4, Production Planned for 2027
Tesla's custom AI5 inference chip, targeting 50x performance improvement over AI4 via 10x raw compute, 9x memory, and 5x hardened block quantization, is in development with production planned for 2027.
Optimus Gen 3 Unveil Planned for Q1 2026 with Mass Production Design
Tesla plans to unveil the Gen 3 version of Optimus in Q1 2026, which includes a new hand design and is the first Optimus iteration designed specifically for mass production.
First North American Spodumene-to-Lithium-Hydroxide Refinery Commences Pilot Production
Tesla's lithium refinery commenced pilot production, becoming the first spodumene-to-lithium-hydroxide facility in North America, using a simpler and more cost-effective process to domestically produce critical battery minerals.
Tesla Robotaxi Fully Unsupervised Rides Launch in Austin
In January 2026, Tesla launched fully unsupervised Robotaxi rides in Austin, allowing passengers to travel with no human safety driver or monitor on board.
Robotaxi Service Operating in Bay Area and Austin, Expanding to 8 More Cities in H1 2026
Tesla's Robotaxi service is currently operating in the San Francisco Bay Area and Austin, with expansion planned to Dallas, Houston, Phoenix, Miami, Orlando, Tampa, and Las Vegas in the first half of 2026.
Cortex AI Training Cluster Expanded at Gigafactory Texas
Tesla further expanded Cortex, its AI training cluster at Gigafactory Texas, in 2025 to support neural network training for autonomous driving and robotics.
FSD (Supervised) Transitioning to Subscription-Only Access
Tesla is sunsetting the up-front payment option for FSD (Supervised) and transitioning to monthly subscriptions only starting Q4 2025.
Cybercab First Unit Rolls Off Gigafactory Texas Production Line, Mass Production Expected April 2026
Tesla's first Cybercab officially rolled off the production line at its Gigafactory in Texas, with mass production expected to begin in April 2026.
FSD (Supervised) Ride-Along Experiences Launched in Italy, Germany, France, and Switzerland
Tesla began offering FSD (Supervised) ride-along experiences to consumers in four European countries while pursuing regulatory approval for full commercial deployment.
Next-Generation Roadster in Design Development
Tesla confirmed the next-generation Roadster remains in design development with no production timeline disclosed.
FSD (Supervised) Launched in South Korea
Tesla launched FSD (Supervised) in South Korea, with customers driving over 1 million kilometers using the software within the first month.
Optimus Production Line Construction Underway with Start of Production Before End of 2026
Tesla has begun preparing the first Optimus production line in California, including supply chain readiness, with start of production planned before the end of 2026 and a long-term capacity target of 1 million robots per year.
FSD (Supervised) v14 Released with End-to-End Foundation Model
Tesla released FSD (Supervised) v14, featuring an end-to-end foundation model trained on both customer and Robotaxi real-world data, adding parking and advanced navigation capabilities.
Tesla Semi Production Ramp Underway for 2026 Delivery Targets
Tesla is actively ramping Semi production with a dedicated factory preparing for deliveries, targeting broader commercial availability in 2026.