Tesla’s earnings call provided a detailed overview of the company’s financial performance in the fourth quarter and full year of 2025. The results were impressive, with Tesla producing over 434,000 vehicles and delivering more than 418,000 vehicles in Q4 alone. Additionally, the company deployed 14.2 GWh of energy storage products in the same period. For the entire year, Tesla produced 1.65 million vehicles, delivered 1.63 million vehicles, and deployed a total of 46.7 GWh of energy storage products.
In terms of financial figures, Tesla reported GAAP earnings per share of $0.24 and non-GAAP EPS of $0.50 for the fourth quarter. Total revenue for Q4 reached $24.901 billion, with GAAP net income amounting to $840 million. For the full year 2025, Tesla posted GAAP EPS of $1.08 and non-GAAP EPS of $1.66 per share. Total revenue for the year stood at $94.83 billion, with $69.53 billion coming from automotive operations and $12.78 billion from the energy generation and storage business. GAAP net income for the year totaled $3.79 billion.
During the earnings call, CEO Elon Musk shared insights into Tesla’s future plans and strategies. Musk announced the end of the Model S and Model X programs, citing a shift towards an autonomous future as the reason for discontinuing the production of these models. He also highlighted the progress of Tesla’s autonomy and robotics programs, emphasizing the company’s goal of achieving universal high income through continued innovation and product improvement.
Musk also discussed the growth of Tesla’s Energy business, expressing optimism about the potential of the solar market. He teased the upcoming unveiling of Tesla Optimus 3, a million-unit production line for the Model S and Model X in Fremont. Musk expressed confidence in the impact that Optimus would have on the US GDP in the long term.
Tesla’s CFO Vaibhav Taneja provided further details on the company’s Q4 milestones, including record gross profits for Tesla Energy and strong demand for products like the Megapack and Powerwall. Investor questions during the call touched on topics such as Tesla’s expectations for the Robotaxi Network, future vehicle models, and the potential for autonomous cars in Tesla’s lineup.
Overall, Tesla’s earnings call provided a comprehensive overview of the company’s performance and future outlook, showcasing its commitment to innovation and sustainability in the electric vehicle and energy storage markets. Lars pointed out that the Cybertruck continues to dominate the electric pickup truck segment, showcasing Tesla’s reputation for innovation and adaptability. However, Elon Musk revealed plans to transition the Cybertruck line into a fully autonomous vehicle line, marking a significant shift in Tesla’s strategy. He emphasized the utility of the Cybertruck, highlighting its potential as an autonomous vehicle.
During a Q&A session, Elon Musk addressed questions about Tesla’s Full Self-Driving (FSD) capabilities, mentioning that 100% Unsupervised FSD is already in use in the Austin Robotaxi program. He emphasized the cautious approach Tesla is taking in rolling out this technology to ensure safety and reliability.
When asked about Tesla’s chip program, Elon expressed confidence in the company’s chip strategy but highlighted the need to prioritize chips for internal projects like Optimus robots and data centers before considering external sales.
Analyst inquiries delved into Tesla’s increasing Capex, with the CFO explaining that investments in new factories, the Optimus program, and expanding capacity are driving up expenses. Funding for these initiatives will come from Tesla’s substantial financial reserves and projects like the Robotaxi Network.
Questions also arose about Tesla’s investment in xAI technology, with the CFO mentioning it as part of Tesla’s long-term strategy. Elon Musk highlighted the potential benefits of xAI for managing Robotaxi fleets and Optimus robots.
Addressing concerns about memory constraints, Elon Musk reassured that Tesla’s AI computer is efficient in terms of compute and memory usage, positioning the company ahead of industry standards.
Regarding competition from Chinese startups in the humanoid robot market, Elon acknowledged China as a formidable rival but expressed confidence in Tesla’s Optimus robot’s superior real-world intelligence, dexterity, and design.
Overall, Tesla’s focus on innovation, autonomous technology, and strategic investments in AI and robotics position the company as a leader in the rapidly evolving automotive industry. The transition of the Cybertruck line to autonomous vehicles reflects Tesla’s commitment to pushing boundaries and shaping the future of transportation.