Tesla said total revenue for Q2 2025 fell 12% year over year to $22.5B. The company cited a decline in vehicle deliveries, lower regulatory credit revenue, and a lower average selling price (ASP) for vehicles due to mix as factors affecting revenue.

1. 01

   Tesla said total revenue for Q2 2025 fell 12% year over year to $22.5B. The company cited a decline in vehicle deliveries, lower regulatory credit revenue, and a lower average selling price (ASP) for vehicles due to mix as factors affecting revenue.

2. 02

   The company said operating income for Q2 2025 decreased 42% year over year to $0.9B, and the operating margin was 4.1%. It cited lower regulatory credit revenue and higher operating expenses from AI and other R&D projects as factors affecting operating income.

3. 03

   The company said operating cash flow for Q2 2025 was $2.5B, and free cash flow (operating cash flow less capex) was $0.1B. Cash, cash equivalents and investments at quarter-end were $36.8B, a sequential decrease of $0.2B.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call. Some paragraphs were omitted because their support in the source could not be confirmed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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