Tesla, Inc. · NASDAQ:TSLA
Tesla — Q1 2025 Earnings Presentation
32 slides from Tesla's earnings presentation, Apr 22, 2025
Slide 1: Q1 2025 Update
Q1 2025 Update 1
Slide 2: Contents
Highlights 03 Financial Summary 04 Operational Summary 06 Automotive 07 Core Technology 08 Energy & Services and Other 09 Outlook 10 Photos & Charts 11 Key Metrics 23 Financial Statements 25 Additional Information 31 2
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $0.4B GAAP operating income In Q1, we accomplished an industry first: simultaneously changing over production lines across all factories for the world’s best-selling vehicle4 – the Model Y. The Tesla team successfully $0.4B GAAP net income ramped our production lines
Slide 4: Financial Summary
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 YoY Total automotive revenues 17,378 19,878 20,016 19,798 13,967 -20% Energy generation and storage revenue 1,635 3,014 2,376 3,061 2,730 67% Services and other revenue 2,288
Slide 5: Financial Summary: Revenue and Profitability
FINANCIAL SUMMARY Revenue Total revenue decreased 9% YoY to $19.3B. YoY, revenue was impacted by the following items: - decline in vehicle deliveries, in part due to the Model Y update across all four vehicle factories - reduced vehicle average selling price (ASP) (excl. FX impact1), due to mix and
Slide 6: Operational Summary
OPERATIONAL SUMMARY (Unaudited) Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 YoY Model 3/Y production 412,376 386,576 443,668 436,718 345,454 -16% Other models production 20,995 24,255 26,128 22,727 17,161 -18% Total production 433,371 410,831 469,796 459,445 362,615 -16% Model 3/Y deliveries 369,783 422
Slide 7: Automotive
AUTOMOTIVE Current Installed Annual Vehicle Capacity As guided, switchover of production lines for the New Model Y resulted in several weeks of lost Region Model Capacity Status production. During the switchover, we also prepared our factories for the launch of new models California Model S / Model
Slide 8: Core Technology
CORE TECHNOLOGY Artificial Intelligence Software and Hardware 4.0 FSD Miles on V12 and Beyond FSD Miles on V11 and Before We believe that our approach to autonomy – a vision-only architecture with end-to-end neural 3.5 networks trained on billions of examples of real-world data – will result in scal
Slide 9: Energy & Services and Other
ENERGY & SERVICES AND OTHER Energy storage deployments continued to grow on a trailing twelve-month (TTM) basis. While 4,000 we expect sequential deployments to remain volatile, we anticipate that expanding capacity for 3,500 3,000 both Powerwall and Megapack will drive continued growth in TTM deplo
Slide 10: Outlook
OUTLOOK Volume It is difficult to measure the impacts of shifting global trade policy on the automotive and energy supply chains, our cost structure and demand for durable goods and related services. While we are making prudent investments that will set up both our vehicle and energy businesses for
Slide 11: Photos & Charts
PHOTOS & CHARTS
Slide 12: New Model Y Delivery Event - Gigafactory Texas
NEW MODEL Y DELIVERY EVENT - GIGAFACTORY TEXAS 12
Slide 13: New Model Y Delivery Event - Gigafactory Texas
NEW MODEL Y DELIVERY EVENT - GIGAFACTORY TEXAS 13
Slide 14: New Model Y Delivery Event - Gigafactory Shanghai
NEW MODEL Y DELIVERY EVENT - GIGAFACTORY SHANGHAI 14
Slide 15: New Model Y Delivery Event - Gigafactory Berlin-Brandenburg
NEW MODEL Y DELIVERY EVENT - GIGAFACTORY BERLIN–BRANDENBURG 15
Slide 16: New Model Y Delivery Event - Fremont Factory
NEW MODEL Y DELIVERY EVENT - FREMONT FACTORY 16
Slide 17: Tesla Diner - Coming Soon
TESLA DINER - COMING SOON 17
Slide 18: Semi Factory - Construction Progress Continued in Q1
SEMI FACTORY - CONSTRUCTION PROGRESS CONTINUED IN Q1 18
Slide 19: Cybertruck - Five Star Crash Safety Rating
CYBERTRUCK - FIVE STAR CRASH SAFETY RATING 19
Slide 20: Powerwall Ramp - 1,500 Units in a Single Shift Milestone
POWERWALL 3 RAMP - 1,500 UNITS IN A SINGLE SHIFT MILESTONE 20
Slide 21: Megafactory Shanghai - First Megapack Off the Line
MEGAFACTORY SHANGHAI - FIRST MEGAPACK OFF THE LINE 21
Slide 22: Optimus - Fremont Pilot Production Line
OPTIMUS - FREMONT PILOT PRODUCTION LINE 22
Slide 23: Key Metrics Quarterly
KEY METRICS QUARTERLY (Unaudited) 0.5 7 8 6 7 0.4 5 6 4 5 0.3 3 2 4 0.2 1 3 0 2 0.1 -1 1 -2 0.0 -3 0 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2022
Slide 24: Key Metrics Trailing Twelve Months (TTM)
KEY METRICS TRAILING 12 MONTHS (TTM) (Unaudited) 2.0 20 20 1.8 18 18 1.6 16 16 1.4 14 14 1.2 12 12 1.0 10 10 0.8 8 8 0.6 6 6 0.4 4 4 0.2 2 2 0.0 0 0 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023
Slide 25: Financial Statements
FINANCIAL STATEMENTS
Slide 26: Statement of Operations
STATEMENT OF OPERATIONS (Unaudited) In millions of USD or shares as applicable, except per share data Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 REVENUES Automotive sales 16,460 18,530 18,831 18,659 12,925 Automotive regulatory credits 442 890 739 692 595 Automotive leasing 476 458 446 447 447 Total au
Slide 27: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 31-Mar-25 ASSETS Current assets Cash, cash equivalents and investments 26,863 30,720 33,648 36,563 36,996 Accounts receivable, net 3,887 3,737 3,313 4,418 3,782 Inventory 16,033 14,195 14,530 12,017 13,706 Prepaid e
Slide 28: Statement of Cash Flows
STATEMENT OF CASH FLOWS (Unaudited) In millions of USD Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income (1) 1,405 1,416 2,189 2,143 420 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 1
Slide 29: 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 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Net income attributable to common stockholders (GAAP) (1) 1,390 1,400 2,173 2,128 409 Stock-based compensation expense, net o
Slide 30: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 Net cash provided by operating activities (GAAP) 3,147 4,585 3,995 2,351 5,100 3,278 2,513 3
Slide 31: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its first quarter 2025 financial results conference call beginning at 4:30 p.m. CT on April 22, 2025 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS Wh
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