Tesla, Inc. · NASDAQ:TSLA
Tesla — Q3 2019 Earnings Presentation
28 slides from Tesla's earnings presentation, Oct 23, 2019
Slide 1: Q3 2019 Update
Q3 2019 Update Exhibit 99.1
Slide 2: Highlights
Highlights 03 Financial Summary04 Operational Summary06 Vehicle Capacity 07 Core Technology08 Other Highlights09 Outlook10 Photos & Charts11 Financial Statements22 Additional Information27
Slide 3: Highlights
Last year, our story was about ramping the Model 3. While total volumes are expected to grow by approximately 50% in 2019, this year our focus has been cost control and preparing for our next phase of growth. Despite reductions in the average selling price (ASP) of Model 3 as global mix stabilizes,
Slide 4: Financial Summary
F I N A N C I A L S U M M A R Y (Unaudited) 4 ($ in millions, except percentages and per share data) Q3-2018 Q4-2018 Q1-2019 Q2-2019 Q3-2019 QoQ YoY Automotive revenues 6,099 6,323 3,724 5,376 5,353 0% -12% of which regulatory credits 189 95 216 111 134 21% -29% Automotive gross profit 1,574 1,537 7
Slide 5: Financial Summary
5 F I N A N C I A L S U M M A R Y Revenue Profitability Cash Compared to Q3 of 2018, the percentage of leased vehicles has tripled and alone has impacted revenue by the majority of the YoY decrease. Model 3 mix has increased while we have taken actions leading to the reduction of the ASP of our prod
Slide 6: Operational Summary
In Q3, we were able to deliver nearly as many Model 3 vehicles as we were able to produce. Our Service network continued to expand in Q3. Reducing waiting times and improving service experience are our top priorities. We opened 11 new service centers in Q3 and added 68 Mobile Service vehicles to our
Slide 7: Vehicle Capacity
Global mid-sized premium sedan sales 2018 7 V E H I C L E C A P A C I T Y Fremont Model Y equipment installation is underway in advance of the planned launch next year. We are moving faster than initially planned, using learnings and efficiencies gained from our Gigafactory Shanghai factory design.
Slide 8: Core Technology
8 C O R E T E C H N O L O G Y Autopilot & Full Self Driving In September, we launched Smart Summon in the US which has been used more than one million times to date. This functionality allows car owners to summon their cars from up to 200 feet in a parking lot or driveway. Our neural network learnin
Slide 9: Other Highlights
9 O T H E R H I G H L I G H T S Energy Energy storage deployment reached an all-time high of 477 MWh in Q3. Additionally, we have recently introduced Tesla Megapack — a 3 MWh battery pack, pre-assembled at the Gigafactory as a single unit. Such packaging allows for faster deployment and lower overal
Slide 10: Outlook
10 O U T L O O K Vehicle Deliveries Trial production of Model 3 in Shanghai has begun, ahead of schedule. We are also ahead of schedule to produce Model Y and now expect to launch by summer 2020. We are planning to produce limited volumes of Tesla Semi in 2020 and are hoping to announce soon the loc
Slide 11: Photos & Charts
P H O T O S & C H A R T S 11
Slide 12: Gigafactory Shanghai Stamping Press
12 G I G A F A C T O R Y S H A N G H A I S T A M P I N G P R E S S
Slide 13: Gigafactory Shanghai Body Shop
13 G I G A F A C T O R Y S H A N G H A I B O D Y S H O P
Slide 14: Gigafactory Shanghai Body Shop
14 G I G A F A C T O R Y S H A N G H A I B O D Y S H O P
Slide 15: Gigafactory Shanghai Body Shop
15 G I G A F A C T O R Y S H A N G H A I B O D Y S H O P
Slide 16: Gigafactory Shanghai Paint Shop
16 G I G A F A C T O R Y S H A N G H A I P A I N T S H O P
Slide 17: Gigafactory Shanghai General Assembly
17 G I G A F A C T O R Y S H A N G H A I G E N E R A L A S S E M B L Y
Slide 18: Gigafactory Shanghai Exterior
18 G I G A F A C T O R Y S H A N G H A I E X T E R I O R
Slide 19: Gigafactory Shanghai: 10 Months from Groundbreaking to Production Ready
19 January 2019 October 2019 G I G A F A C T O R Y S H A N G H A I 1 0 M O N T H S F R O M G R O U N D B R E A K I N G T O P R O D U C T I O N R E A D Y
Slide 20: Key Metrics Quarterly
20 Vehicle Deliveries (units) Operating cash flow ($B) Operating cash flow less capex ($B) Net Income ($B) K E Y M E T R I C S Q U A R T E R L Y (Unaudited)
Slide 21: Key Metrics Trailing Twelve Months
21 K E Y M E T R I C S T R A I L I N G 1 2 M O N T H S ( T T M ) (Unaudited) Vehicle Deliveries (units) Operating cash flow ($B) Operating cash flow less capex ($B) Net Income ($B)
Slide 22: Financial Statements
F I N A N C I A L S T A T E M E N T S 22
Slide 23: Income Statement
Three months ended Nine months ended In millions of USD or shares as applicable, except per share data Sep 30, 2019 June 30, 2019 Sep 30, 2018 Sep 30, 2019 Sep 30, 2018 REVENUES Automotive sales 5,132 5,168 5,878 13,809 11,558 Automotive leasing 221 208 221 644 634 Total automotive revenue 5,353 5,3
Slide 24: Balance Sheet
24 B A L A N C E S H E E T (Unaudited) In millions of USD Sep 30, 2018 Dec 31, 2018 March 31, 2019 June 30, 2019 Sep 30, 2019 ASSETS Current assets Cash and cash equivalents 2,968 3,686 2,198 4,955 5,338 Restricted cash 159 193 131 128 233 Accounts receivable, net 1,155 949 1,047 1,147 1,128 Invento
Slide 25: Cash Flow Statement
Three months ended Nine months ended In millions of USD Sep 30, 2019 June 30, 2019 Sep 30, 2018 Sep 30, 2019 Sep 30, 2018 Cash Flows from Operating Activities Net income (loss) 150 (389) 254 (907) (1,273) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Deprec
Slide 26: Non-GAAP Reconciliation
Three months ended Nine months ended In millions of USD or shares as applicable, except per share data Sep 30, 2019 June 30, 2019 Sep 30, 2018 Sep 30, 2019 Sep 30, 2018 Net income (loss) attributable to common stockholders – GAAP 143 (408) 311 (967) (1,116) Stock-based compensation expense 199 210 2
Slide 27: Additional Information
27 A D D I T I O N A L I N F O R M A T I O N WEBCAST INFORMATION Tesla will provide a live webcast of its third quarter 2019 financial results conference call beginning at 3:30 p.m. PT on October 23, 2019, at ir.tesla.com. This webcast will also be available for replay for approximately one year the
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