
Tesla Q2 2026 Earnings: Profits Get Squeezed as Cybercab, Optimus, and Robotaxi All Ramp at Once
Tesla's Q2 2026 earnings show a company spending heavily and earning less for it: non-GAAP EPS missed estimates at $0.33, free cash flow went negative, and gross margin fell to 16.8%. Meanwhile Cybercab began production, Optimus took over the Fremont lines once used for Model S/X, FSD subscriptions grew faster than ever, and Robotaxi passed 2.4 million paid miles.


