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Tesla Q3 financial report: Revenue remains flat year-on-year, net profit down 43%, operating expenses surged 39%

Tesla announced its third-quarter performance for 2026. The quarterly revenue was $28.046 billion, essentially flat year-on-year; the net profit attributable to common shareholders was $787 million, a decrease of about 43% year-on-year. GAAP diluted earnings per share were $0.22, down from $0.39 in the same period last year. Operating profit decreased by about 56% year-on-year to $718 million, with an operating profit margin of 2.6%, down 3.2 percentage points year-on-year. The company stated that increased R&D and other operating expenses, reduced regulatory credit income, and declining gross margins in the energy business put pressure on operating profit, with operating expenses rising by about 39%.Overall GAAP gross margin rose to 19.6%, an increase of about 1.6 percentage points year-on-year, and also higher than the previous quarter. The automotive gross margin, excluding regulatory credits, was about 18.1%, improving compared to the previous quarter and the same period last year. The number of vehicle deliveries for the quarter was 486,500, a decrease of 2% year-on-year; production was 464,400 vehicles, an increase of 4% year-on-year. Revenue from the automotive business decreased by about 3% year-on-year, while revenue from energy generation and storage decreased by about 16%, and service and other revenue grew by about 33%.Operating cash flow for the third quarter was $6.263 billion, and free cash flow was $1.531 billion, down from $3.990 billion in the same period last year. The company stated that battery supply continues to limit the increase in vehicle production; mass production of the Semi has started in Nevada, and production of Optimus has begun in Fremont, while Cybercab has been put into operation in the Austin Robotaxi fleet. According to BIT market data, SPCX fell 3.32% in after-hours trading.

According to the SpaceX stock unlocking arrangement, Gate will simultaneously support the unlocking of Pre-IPO (stock) shares

According to the SpaceX stock unlocking schedule, the first batch of shares for Gate Pre-IPOs project SpaceX (SPCX) will be unlocked on August 26 at 20:00 (UTC+8). The total amount of the first batch to be unlocked is 33,900 SPCX, with 20% of the shares being unlocked based on the actual holdings at the time of the user’s spot account snapshot, and the corresponding shares will be directly credited to the Gate stock account at a 1:1 ratio.Gate is the first platform in the industry to support Pre-IPO share unlocking and directly distribute listed company stocks to users. This unlocking includes SPCX that users previously acquired and held through Pre-IPOs, as well as SPCX purchased subsequently; SPCX that has been sold will not be included in this round of unlocking. Users need to check their SPCX holdings and open orders in advance to ensure that the SPCX used for this unlocking is in an available state.Gate will continue to provide users with an asset participation experience from Pre-IPOs subscription before listing, internal trading, to stock unlocking entering the U.S. stock market. This is the first 20% stock unlocking for SpaceX (SPCX), and the remaining portion will be processed according to the unlocking rules of the target company as soon as possible, subject to the official announcement from Gate.
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