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Investor's Corner

Fisker announces massive earnings miss, paints bleak financial forecast

Credit: Fisker

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Fisker has released its Q1 earnings report, and much like earnings from other EV startups this week, it’s a bloodbath.

Lucid Motors was the first domino to fall this week, releasing its Q1 earnings report, which showed investors weakening demand, a flimsy financial position, and a disheartening production forecast. Now, Fisker has released its Q1 earnings, and it is much of the same, indicating the EV startup segment as a whole may be in for one hell of a week.

Fisker’s earnings report was chock full of bad news for investors and reservation holders alike. Foremost, the automaker announced a production cut to its incredibly optimistic 2023 forecast. Previously, Fisker aimed to produce 42,400 vehicles this year, but the company now plans to produce between 32,000 and 36,000. Even with this cut, it is easily the most aggressive production ramp in the industry, considering the company has just recently delivered its first units in Europe.

More specifically, Fisker plans to produce between 1,400 and 1,700 vehicles during all of Q2 and subsequently ramp to 6,000 units per month for the rest of the year. If everything goes according to plan, Fisker will produce more units in the final three quarters of its first year of production than Rivian and Lucid did during all of 2022.

On top of the negative production report, Fisker’s earnings and cash reserves weren’t remotely close to investor expectations. Fisker reported total revenue of $190,000 for all of Q1, which missed revenue expectations by more than 90%. Investors expected the firm to pull in $2.52 million. This earnings miss is also reflected in earnings per share (EPS), reporting a loss of $0.37 per share, compared to the $0.27 expected by investors.

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The cherry on top of Fisker’s financial report was news of dwindling cash reserves. Fisker now has $652.5 million in cash and cash equivalents. It remains unclear how long this funding will last for the production-hungry business.

Following the whirlwind of bad news, Fisker’s stock offering crumbled 12% in premarket trading and continues to do so in the early hours of market trading.

Despite the dire financial situation surrounding his business, Fisker founder Henrick Fisker remains optimistic regarding getting vehicles into the hands of reservation holders. “It has been a fantastic weekend to have kicked off customer deliveries and opened our flagship Lounge in Munich yesterday. Now we are entering into a new era, becoming a revenue-generating car company!”

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Fisker’s weak earnings report follows a disturbing trend within the EV startup segment, with numerous businesses seeming to be holding on by a thread. Besides the aforementioned Lucid, commercial truck maker Nikola has also slashed production, and smaller companies like Arrival and Faraday Future have even issued financial warnings about their ability to continue operations.

William is not an investor in Fisker Inc.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Investor's Corner

Tesla (TSLA) Q3 2025 earnings results

Tesla’s Q3 earnings come on the heels of a quarter where the company produced over 447,000 vehicles, delivered over 497,000 vehicles, and deployed 12.5 GWh of energy storage products.

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Credit: Tesla Asia/X

Tesla (NASDAQ:TSLA) has released its Q3 2025 earnings results in an update letter. The document was posted on the electric vehicle maker’s official Investor Relations website after markets closed today, October 22, 2025. 

Tesla’s Q3 earnings come on the heels of a quarter where the company produced over 447,000 vehicles, delivered over 497,000 vehicles, and deployed 12.5 GWh of energy storage products. 

Tesla’s Q3 2025 results

As could be seen in Tesla’s Q3 2025 Update Letter, the company posted GAAP EPS of $0.39 and non-GAAP EPS of $0.50 per share. Tesla also posted total revenues of $28.095 billion.

In comparison, FactSet consensus expects Tesla to post earnings per share of around $0.56, down 22% from Q3 2024’s $0.72 per share. Tesla’s revenue is forecasted to rise 5.4% to $26.54 billion, as noted in an Investor.com report.

On the other hand, Sharp consensus, which tracks analyst revision trends, predicts Tesla to post earnings of $0.57 per share and revenue totaling $28.31 billion.

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Other key results

Tesla highlighted the following Q3 results in its Update Letter.

As per the company,

Tesla’s Q3 2025 Update Letter

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Investor's Corner

Tesla investors want answers to these five questions during Q3 Earnings

These are the top five questions that have been asked and voted for by investors of the company, and what we think about them.

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Credit: Tesla

Tesla (NASDAQ: TSLA) is preparing to report its earnings for the third quarter of 2025 this afternoon. Investors are looking for answers regarding the Robotaxi launch, energy division, potential future vehicle releases, Optimus, and demand stimulation without the tax credit.

Using the investor platform Say, Tesla allows investors to ask questions for the earnings call.

Tesla Q3 2025 earnings: What analysts expect

These are the top five questions that have been asked and voted for by investors of the company, and what we think about them:

  • What are the latest Robotaxi metrics (fleet size, cumulative miles, rides completed, intervention rates), and when will safety drivers be removed? What are the obstacles still preventing unsupervised FSD from being deployed to customer vehicles?
    • What we think: Tesla should release some metrics about Robotaxi operation, but it has been cryptic about fleet size and other statistics in the past. Additionally, CEO Elon Musk said Safety Drivers should be removed ‘by the end of the year,’ and we imagine this will be reiterated during the call. Regarding Unsupervised FSD, Tesla has stated that safety is its priority moving forward with the FSD rollout and Robotaxi as well.

 

  • What is demand/backlog for Megapack, Powerwall, Solar, or energy storage systems? With the current AI boom, is Tesla planning to supply power to other hyperscalers?
    • What we think: This is perhaps the only question of the five that Tesla will be totally forthcoming with, as it usually does not reveal vehicle plans or data on these earnings calls. However, it will be interesting to see if the company has any plans to supplement the increasing AI plans with its energy products. Energy falls under the radar with a lot of its achievements, so it really could be a major focus of this call if this question gets answered.

 

  • What are the plans for new car models? Will Tesla build compact car models leveraging the unboxed Cybercab platform? Will Tesla build a traditional SUV and pickup truck on the Cybertruck platform?
    • What we think: Tesla does not unveil or release plans about projects on earnings calls, so we doubt there will be much color here from executives. Considering Tesla has put so much weight on autonomy in the U.S., we’re not necessarily convinced it will plan to do much more than Cybercab, and SUV and pickup trucks will likely be built on a different platform as well, if they’re offered at all. Musk isn’t sure about bringing the Model Y L to the U.S. market due to the “advent of self-driving.”

 

  • What are the present challenges in bringing Optimus to market, considering app control software, engineering hardware, training general mobility models, training task-specific models, training voice models, implementing manufacturing, and establishing supply chains?
    • What we think: This will likely be where Tesla teases the capabilities of Optimus Gen 3, and comes up with some sort of rough date where it could show off the new design. Tesla has been using Optimus in its factories and other internal operations, so it’s likely we’ll hear some stories about that as well. Tesla is looking to refine the Optimus design so it is useful and capable in residential applications, and its hands are likely the biggest bottleneck as they are arguably the most crucial part of the product.

 

  • Can you talk about demand stimulation avenues beyond affordability? Given the state of global politics, can Tesla’s brand elevate above the divisiveness and return global perception back to our inspirational roots of ludicrous performance, environmental good, and superior safety?
    • What we think: Tesla is going to flex its new Standard offerings now, and the company has been transparent that Musk’s political involvement will wind down in a timely manner, according to the proxy it released when it revealed his pay package. 
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Elon Musk

“Take Back Tesla:” Unions and corporate watchdogs launch campaign against Musk’s 2025 pay package

A new shareholder campaign is calling for Tesla investors to vote against Elon Musk’s proposed 2025 CEO Performance Award.

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Wcamp9, CC BY 4.0 , via Wikimedia Commons

A new shareholder campaign is calling for Tesla investors to vote against Elon Musk’s proposed 2025 CEO Performance Award, arguing it would deepen governance risks and weaken corporate accountability.

Ahead of Tesla’s Q3 2025 earnings report, a coalition of unions and watchdogs launched the “Take Back Tesla” initiative, urging investors to reject Musk’s pay proposal at next month’s annual meeting. The plan would grant the CEO additional shares worth nearly $1 trillion over ten years, expanding his ownership stake in the company to about 25%.

Unions and watchdogs argue that Elon Musk’s proposed plan rewards distraction

The Take Back Tesla campaign is backed by groups such as the American Federation of Teachers, Public Citizen, Americans for Financial Reform, Ekō, People’s Action, and Stop the Money Pipeline. 

As could be seen on the campaign’s website, the groups are arguing that Musk’s focus on political ventures and external businesses has distracted him from leading Tesla. The group’s website called Musk’s new CEO Performance Award “outrageous” as it involves an amount of wealth that is unreachable even by today’s top executives.

“In order to unlock the full amount of shares proposed in this compensation plan, Tesla’s value would need to increase dramatically to $8.5 trillion. As Tesla’s proxy statement points out, that would make Tesla roughly 2x as valuable as the most valuable company in the world (Nvidia) today. Arguably, growing Tesla’s value to double the value of Nvidia would justify paying Musk something like double the compensation of Nvidia’s CEO. 

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“But the annual value of Musk’s trillion dollar pay package isn’t just 2 times what Nvidia’s CEO made last year (just under $50 million); it’s more than 2,000 times what Nvidia’s CEO made last year. At his current compensation of $49.9 million, it would take Nvidia’s CEO over 2,000 years to earn the amount that Elon Musk could earn, on average, per year for the next ten years,” the group argued.

Board defends package as necessary, though some pushback is present

Tesla’s board insists the compensation plan is essential to retain Musk and sustain the company’s innovation in AI, robotics, and self-driving technology. The automaker noted that previous skepticism from proxy firms such as ISS and Glass Lewis preceded a 20x rise in Tesla’s market capitalization since 2018, a feat that seemed unrealistic when it was proposed.

As noted in a CNBC report, New York City Comptroller Brad Lander, who oversees a $300 billion pension fund, stated that while Tesla has been a great investment, he “vociferously opposes” Elon Musk’s proposed 2025 CEO Performance Award. 

“Most of the time we’ve held Tesla stock, it has been a solid investment, it’s grown over time, and that’s why we haven’t chosen to dump it, he said, adding that he views Tesla’s Board as “insufficiently independent” since they have allowed Musk to be “absentee CEO.” Landers also argued that Tesla as a whole has failed to hit its targets when it comes to its Robotaxi program and its Full Self-Driving technology.

For context, Elon Musk has maintained that his 2025 CEO Performance Award is not designed for him to gather even more wealth. Instead, he stressed that it is required so that he could take a controlling stake in the company.

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