Tesla Q3: Numbers You May Have Missed

Core Insights - Tesla's Q3 2025 results showed a 12% year-over-year revenue increase, marking the first rise in three quarters, driven by U.S. customers purchasing electric vehicles before tax benefits expired [1] - Net income decreased by 37% year-over-year due to lower vehicle prices and increased operating expenses, particularly from investments in artificial intelligence and R&D [1] - The stock fell approximately 3% in after-hours trading, indicating market reaction to mixed results [1] Vehicle Deliveries and Production - Tesla's global vehicle deliveries reached 497,099 units, while production totaled 447,450 units, indicating a positive trend as deliveries outpaced production [2] - Energy storage product deployments totaled 12.5 GWh, an 80% year-over-year increase from 6.9 GWh, highlighting growth in Tesla's energy-storage sector [2] Supercharger Network Expansion - Tesla expanded its Supercharger network by over 3,500 new charging stalls, representing an 18% year-over-year growth, enhancing the electric vehicle ownership experience [3] - As of June 2025, Tesla operated approximately 70,000 stalls globally, making it one of the largest fast-charging networks and creating competitive barriers [3] Energy Utilization - In Q2 2025, Tesla's Supercharger network provided around 1.6 terawatt-hours of energy across about 45 million sessions, emphasizing utilization efficiency and potential for recurring revenue [4] Full Self-Driving (FSD) Adoption - Between 50% and 60% of new buyers of Model S and Model X select the Full Self-Driving package, while 20% to 30% of Model 3 and Model Y buyers do the same, indicating significant adoption rates [6] - The $99-per-month FSD subscription is gaining popularity, contributing to a shift towards a software-as-a-service model and enhancing recurring revenue visibility [6] Services and Other Revenue - Tesla's "Services and Other" revenue climbed by approximately 25% year-over-year in Q3 2025, reaching $3.5 billion, driven by growth in software, connectivity, servicing, and charging [7] - This growth reflects Tesla's evolution into a diversified technology-energy platform, providing a buffer against vehicle margin fluctuations [7]