Slide 1: Q2 2024 Update
Q2 2024 Update 1
Slide 2: Contents
Highlights 03 Financial Summary 04 Operational Summary 06 Vehicle Capacity 07 Core Technology 08 Other Highlights 09 Outlook 10 Photos & Charts 11 Key Metrics 20 Financial Statements 22 Additional Information 28 2
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $1.6B GAAP operating income in Q2 after restructuring and other charges In Q2, we achieved record quarterly revenues despite a difficult operating environment. The of $0.6B Energy Storage business continues to grow rapidly, setting a record in Q2 with 9.4 GWh of depl
Slide 4: Financial Summary
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 YoY Total automotive revenues 21,268 19,625 21,563 17,378 19,878 -7% Energy generation and storage revenue 1,509 1,559 1,438 1,635 3,014 100% Services and other revenue 2,150
Slide 5: Financial Summary: Revenue and Profitability
FINANCIAL SUMMARY Revenue Total revenue increased 2% YoY in Q2 to $25.5B. YoY, revenue was impacted by the following items: + growth in the Energy Generation and Storage business + Cybertruck deliveries + higher regulatory credit revenue + growth in Services and Other - reduced S3XY vehicle average
Slide 6: Operational Summary
OPERATIONAL SUMMARY (Unaudited) Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 YoY Model 3/Y production 460,211 416,800 476,777 412,376 386,576 -16% Other models production 19,489 13,688 18,212 20,995 24,255 24% Total production 479,700 430,488 494,989 433,371 410,831 -14% Model 3/Y deliveries 446,915 419,
Slide 7: Vehicle Capacity
VEHICLE CAPACITY Current Installed Annual Vehicle Capacity We continued to add to our vehicle lineup globally, including the introduction of new Model 3 Region Model Capacity Status and Model Y trims and additional paint options for the S3XY lineup. After a sequential decline in California Model S /
Slide 8: Core Technology
CORE TECHNOLOGY Artificial Intelligence Software and Hardware 1.6 FSD V12 Miles FSD Miles 1.4 In Q2, we focused on reducing interventions with FSD (Supervised)1, while improving driving 1.2 comfort. Notably, we rolled out a version of FSD (Supervised) that primarily relies on eye 1.0 tracking softwa
Slide 9: Other Highlights
OTHER HIGHLIGHTS Our non-automotive business is becoming an increasingly profitable part of Tesla. As energy 1,000 storage products continue to ramp and our vehicle fleet continues to grow, we are 800 600 expecting continued profit growth of our non-automotive business over time. 400 200 0 Energy Ge
Slide 10: Outlook
OUTLOOK Volume Our company is currently between two major growth waves: the first one began with the global expansion of the Model 3/Y platform and we believe the next one will be initiated by advances in autonomy and introduction of new products, including those built on our next generation vehicle
Slide 11: Photos & Charts
PHOTOS & CHARTS
Slide 12: Electric Vehicle Adoption Rate - Returned to Growth in Q2
ELECTRIC VEHICLE ADOPTION RATE - RETURNED TO GROWTH IN Q2 Global BEV market share* (12-months trailing) 12% 10% China 8% 6% 4% World ex-China 2% 0% 12 *Source: ev-volumes.com and https://www.renaultgroup.com/en/finance-2/key-figures/monthly-sales/
Slide 13: Gigafactory Texas - South Expansion Data Center
GIGAFACTORY TEXAS - SOUTH EXPANSION DATA CENTER 13
Slide 14: Corpus Christi Lithium Refinery
CORPUS CHRISTI LITHIUM REFINERY - START OF PRODUCTION IN 2025 14
Slide 15: Cybertruck - Coatings Shop
CYBERTRUCK - COATINGS SHOP 15
Slide 16: Model Y in Quicksilver
M O D E L Y I N Q U I C K S I L V E R - 1 . 9 9 % A P R A V A I L A B L E F O R A L L M O D E L Y T R I M S I N T H E U S T H R O U G H A U G U S T 3 1 ST 16
Slide 17: Lunar Silver - Now Available for Model S and Model X
LUNAR SILVER - NOW AVAILABLE FOR MODEL S AND MODEL X 17
Slide 18: Megapack - Plus Power's Sierra Estrella Site
MEGAPACK - PLUS POWER’S 1 GWH SIERRA ESTRELLA SITE 18
Slide 19: Optimus - Autonomously Handling Battery Cells
OPTIMUS - AUTONOMOUSLY HANDLING BATTERY CELLS 19
Slide 20: Key Metrics Quarterly
20 0.0 0.1 0.2 0.3 0.4 0.5 3Q-2021 (Unaudited) 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 KEY METRICS QUARTERLY 1Q-2023 (millions of units) Vehicle Deliveries 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 0 1 2 3 4 5 6 -3 -2 -1 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 Free Cash Flow ($B) 1Q-2023 2Q-20
Slide 21: Key Metrics Trailing 12 Months
21 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 3Q-2021 (Unaudited) 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 (millions of units) Vehicle Deliveries 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 KEY METRICS TRAILING 12 MONTHS (TTM) 0 2 4 6 8 10 12 14 16 18 20 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4
Slide 22: Financial Statements
FINANCIAL STATEMENTS
Slide 23: Statement of Operations
STATEMENT OF OPERATIONS (Unaudited) In millions of USD or shares as applicable, except per share data Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 REVENUES Automotive sales 20,419 18,582 20,630 16,460 18,530 Automotive regulatory credits 282 554 433 442 890 Automotive leasing 567 489 500 476 458 Total au
Slide 24: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 30-Jun-23 30-Sep-23 31-Dec-23 31-Mar-24 30-Jun-24 ASSETS Current assets Cash, cash equivalents and investments 23,075 26,077 29,094 26,863 30,720 Accounts receivable, net 3,447 2,520 3,508 3,887 3,737 Inventory 14,356 13,721 13,626 16,033 14,195 Prepaid e
Slide 25: Statement of Cash Flows
STATEMENT OF CASH FLOWS (Unaudited) In millions of USD Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income 2,614 1,878 7,943 1,144 1,494 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 1,1
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD or shares as applicable, except per share data Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Net income attributable to common stockholders (GAAP) 2,703 1,853 7,928 1,129 1,478 Stock-based compensation expense, net of
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 Net cash provided by operating activities (GAAP) 3,019 1,641 2,124 3,147 4,585 3,995 2,351 5
Slide 28: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its second quarter 2024 financial results conference call beginning at 4:30 p.m. CT on July 23, 2024 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS Wh
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