What changed
Revenue came in at $2.155B, up 38.3% YoY, driven by a 46% increase in delivery volumes, $81M in regulatory credit revenues, and strong software and services performance. Net loss attributable to common stockholders was $(913)M, improving from $(1.173)B in the prior-year quarter. The top-line gain was partially offset by a decline in average vehicle selling price due to a higher mix of R2 and commercial van deliveries, while R2 production ramp added approximately $120M in incremental cost of revenues.
Why it matters
Revenue came in at $2.155B, up 38.3% YoY, driven by a 46% increase in delivery volumes, $81M in regulatory credit revenues, and strong software and services performance. Net loss attributable to commo