Tesla Results Presentation Deck
January 2020, 26 slides
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and update | Tesla
highlights financial summary operational summary vehicle capacity core technology other highlights outlook photos charts financial statements additional information am | Tesla
i i a cash increase in our cash and cash equivalents in to operating cash flow less free cash flow in profitability operating income operating margin in net income non net income in operations model production ramp started in ahead of schedule increased model all wheel drive range to miles from miles was a turning point for we demonstrated strong organic demand for model returned to profitability in and generated of free cash flow for the year we achieved strong cash generation through persistent cost control across the business our pace of execution has also improved significantly as we have incorporated many learnings from our experience launching model in the united states as a result we were able to start model production in shanghai in less than months from breaking ground and have already begun the production ramp for model in none of this would be possible without strong demand for our products for most of nearly all orders came from new buyers that did not hold a prior reservation demonstrating significant reach beyond those who showed early interest amazingly this was accomplished without any spend on advertising as more people drive our cars and as the industry rapidly validates electrification interest in our products will continue to grow record vehicle deliveries of in record storage deployment of solar growth higher volumes driven by model and shanghai continued improvements in operating leverage and further cost efficiencies should allow to ultimately reach an industry leading operating margin highlights summary | Tesla
i a i a a unaudited in millions except percentages and per share data yoy automotive revenues of which regulatory credits automotive gross profit automotive gross margin total revenues total gross profit total gross margin operating expenses income loss from operations operating margin adjusted adjusted margin net income loss attributable to common stockholders net income loss attributable to common stockholders non attributable to common stockholders basic attributable to common stockholders basic non net cash provided by used in operating activities capital expenditures free cash flow cash and cash equivalents financial summary | Tesla
i a i a a revenue in our revenue growth was positively impacted by a strong increase in vehicle deliveries revenue growth was offset by higher lease mix model becoming a part of our mix introduction of the standard range trims of model and adjustments to vehicle pricing these changes have resulted in a reduction to the average selling price asp relative to we do not expect asp to change significantly in the near term which means volume growth and revenue growth should correlate more closely this year we are positioned to accelerate our revenue growth further through increasing build rates in shanghai and our production line in these production increases will allow for higher total vehicle deliveries and associated revenue profitability gross profit of remained essentially flat in compared to volume growth and successful cost reduction efforts were offset by normalization of asp mix shift towards model and a higher lease mix sequentially gross margin remained relatively flat in compared to while we ramped model production at shanghai while we saw an increase in operating expenses in driven mostly by of non cash expense related to one more award operational milestone becoming probable higher gross profit resulted in a improvement of operating margin to in cash quarter end cash and cash equivalents increased by to driven by positive quarterly free cash flow of capital expenditures increased sequentially due to investments in shanghai and model preparations in financial summary non cash sequential | Tesla
a i a unaudited a model production model production model deliveries of which subject to lease accounting model deliveries of which subject to lease accounting global inventory days of sales solar deployed storage deployed store and service locations mobile service fleet supercharger stations supercharger connectors yoy in the total vehicle production rate in was just over units about the same rate as the factory under nummi reached in its peak year of we achieved this production rate in spite of model running on a single shift and before the start of model production our finished vehicle inventory levels reached just days of sales at the end of the level in the past years our mobile service fleet almost doubled in to vehicles and we continue to open new service locations globally as customers are increasingly buying their vehicles vehicle deliveries grew while our retail footprint remained unchanged with a stable total store count across operational summary | Tesla
i a a i the production ramp of model started in together with model our combined production capacity for these vehicles is now units per year the ramp of model will be gradual as we will be adding additional machinery in various production shops after such expansions are done by mid combined model and model capacity should reach units per year we will start delivering model vehicles by the end of shanghai we have been gradually ramping local production of battery packs since late the rest of the model manufacturing processes are running as expected due to strong initial customer response in china our goal is to increase model capacity even further using existing facilities we have already broken ground on the next phase of shanghai given the popularity of the vehicle segment we are planning for model capacity to be at least equivalent to model capacity berlin we are moving forward with our preparations near berlin which we have selected as the right place to build vehicles for the market due to a strong manufacturing and engineering presence in the first deliveries from this factory are expected in annual capacity current status model model production model model production shanghai berlin model model model model north semi roadster production construction in development in development in development in development in development model deliveries by region | Tesla
autopilot full self driving to date vehicles have driven over billion miles in autopilot mode as our fleet grows autopilot miles increase exponentially adding yet more data to our neural net all vehicles with our computer have been updated with new that can better detect new details in their environments allowing us to show various lane markings traffic lights stop signs cones as well as other vehicles and road users understanding the environment around a is key to enabling our cars to react to traffic lights and stop signs and take intersections through city streets we are currently validating this functionality before releasing to customers and we look forward to its gradual deployment vehicle in purchases in we launched premium vehicle connectivity in the us for plus tax per month this enables our customers to stream music or videos browse or see live traffic through an embedded connection we also introduced in purchases where our customers can buy various updates such as basic autopilot acceleration boost and additional premium features will continue to play a growing role in our business model battery due to continued engineering progress of the model all wheel drive awd we have been able to increase its maximum range to miles compared to our previous estimate of miles this extends model lead as the most energy efficient electric in the world electric energy efficiency miles per core technology | Tesla
i i energy business energy storage deployment reached an all time high of in which included the first deployments of our new commercial scale integrated storage system that is at as a single unit since the introduction of this product the level of interest and orders from various global project developers and utilities has surpassed our expectations in we deployed of energy storage more than we deployed in all prior years combined energy storage deployed in in we deployed of solar more than in the prior quarter where offered subscription solar has grown significantly in with a monthly subscription that can generate income from the first month of usage there is no reason not to have solar panels roof in we continued to ramp both roof production as well as installations in addition to we have also partnered with several roofing companies to support installations to fulfill demand for roof after organizing several roofing company training days at our training homes in we already demonstrated dramatically shorter installation times versus previous versions of this product tiles are made in our new york and we are hiring hundreds of employees at this facility roof installation other highlights sai | Tesla
for full year vehicle deliveries should comfortably exceed units due to ramp of model in shanghai and model in production will likely outpace deliveries this year both solar and storage deployments should grow at least in we expect positive quarterly free cash flow going forward with possible temporary exceptions particularly around the launch and ramp of new products we continue to believe our business has grown to the point of being self funding we expect positive net income going forward with possible temporary exceptions particularly around the launch and ramp of new products continuous volume growth capacity expansion and cash generation remain the main focus production ramp of model in has begun ahead of schedule model production in shanghai is continuing to ramp while model production in shanghai will begin in we are planning to produce limited volumes of semi this year volume cash flow profitability product outlook | Tesla
a photos charts | Tesla
a factory model body shop | Tesla
a | Tesla
a factory | Tesla
i a march prototype production vehicle | Tesla
a a i a a a a i a model in model in shanghai factory layout layout | Tesla
i a unaudited vehicle deliveries units operating cash flow free cash flow net income key metrics quarterly | Tesla
i a i i unaudited vehicle deliveries units operating cash flow free cash flow net income key metrics trailing | Tesla
i i i a unaudited operating cash flow free cash flow vehicle deliveries | Tesla
i a i a a financial statements | Tesla
a a i unaudited statement of operations | Tesla
a a unaudited balance sheet | Tesla
a a unaudited statement of cash flows | Tesla
i i a i a a a a i a i a i a i unaudited reconciliation of to non financial information net income loss attributable to common stockholders non adjusted margin non | Tesla
a i i a i a i additional information | Tesla
| Tesla
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