Slide 1: Q4 and FY 2023 Update
Q4 and FY 2023 Update 1
Slide 2: Contents
Highlights 03 Financial Summary 04 Operational Summary 07 Vehicle Capacity 09 Core Technology 10 Other Highlights 11 Outlook 12 Photos & Charts 13 Key Metrics 22 Financial Statements 24 Additional Information 31
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $8.9B GAAP operating income in 2023; $2.1B in Q4 In 2023, we delivered over 1.2 million Model Ys, making it the best-selling vehicle, of any kind, globally. For a long time, many doubted the viability of EVs. Today, the $15.0B GAAP net income in 2023; $7.9B in Q4 bes
Slide 4: Financial Summary (Quarterly)
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 YoY Total automotive revenues 21,307 19,963 21,268 19,625 21,563 1% Energy generation and storage revenue 1,310 1,529 1,509 1,559 1,438 10% Services and other revenue 1,701 1,
Slide 5: Financial Summary (Annual)
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) 2019 2020 2021 2022 2023 YoY Total automotive revenues 20,821 27,236 47,232 71,462 82,419 15% Energy generation and storage revenue 1,531 1,994 2,789 3,909 6,035 54% Services and other revenue 2,226 2,306 3,802 6,09
Slide 6: Financial Summary: Revenue and Profitability
FINANCIAL SUMMARY Revenue Total revenue grew 3% YoY in Q4 to $25.2B. YoY, revenue was impacted by the following items: + growth in vehicle deliveries + growth in other parts of the business + positive FX impact of $0.1B1 - reduced vehicle average selling price (ASP) YoY (excl. FX impact), including
Slide 7: Operational Summary (Quarterly)
OPERATIONAL SUMMARY (Unaudited) Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 YoY Model 3/Y production 419,088 421,371 460,211 416,800 476,777 14% Other models production 20,613 19,437 19,489 13,688 18,212 -12% Total production 439,701 440,808 479,700 430,488 494,989 13% Model 3/Y deliveries 388,131 412,1
Slide 8: Operational Summary (Annual)
OPERATIONAL SUMMARY (Unaudited) 2019 2020 2021 2022 2023 YoY Model 3/Y production 302,301 454,932 906,032 1,298,434 1,775,159 37% Other models production 62,931 54,805 24,390 71,177 70,826 0% Total production 365,232 509,737 930,422 1,369,611 1,845,985 35% Model 3/Y deliveries 300,885 442,562 911,24
Slide 9: Vehicle Capacity
VEHICLE CAPACITY Current Installed Annual Vehicle Capacity After our scheduled global factory shutdown in Q3, our global production reached Region Model Capacity Status a record annualized run rate of nearly 2.0 million vehicles in Q4. The refreshed California Model S / Model X 100,000 Production Mo
Slide 10: Core Technology
CORE TECHNOLOGY Artificial Intelligence Software and Hardware 800 700 In Q4, we released our latest FSD Beta software (V12) to select Tesla employees, 600 and more recently, to customers. V12 utilizes end-to-end training, enhancing the 500 driving experience. We also introduced the 2nd generation of
Slide 11: Other Highlights
OTHER HIGHLIGHTS Energy Storage 16 14 Energy storage deployments decreased sequentially in Q4 to 3.2 GWh, for a total 12 deployment of 14.7 GWh in 2023, a 125% increase compared to 2022. While we expect deployments will continue to be volatile on a sequential basis, impacted by 10 logistics and the
Slide 12: 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 the next one we believe will be initiated by the global expansion of the next-generation vehicle platform. In 2024, our vehicle volume growth rate may b
Slide 13: Photos & Charts
PHOTOS & CHARTS
Slide 14: Model Y - Best-Selling Vehicle Globally in 2023
MODEL Y - BEST-SELLING VEHICLE GLOBALLY IN 2023 14
Slide 15: Updated Model 3 - Available Globally
UPDATED MODEL 3 - AVAILABLE GLOBALLY 15
Slide 16: Fremont Factory Produced Nearly 560,000 Vehicles in 2023
FREMONT FACTORY PRODUCED NEARLY 560,000 VEHICLES IN 2023, AN ALL–TIME RECORD 16
Slide 17: Cybertruck Delivery Event
CYBERTRUCK DELIVERY EVENT 17
Slide 18: Cybertruck
CYBERTRUCK 18
Slide 19: Cybertruck Production Line
CYBERTRUCK PRODUCTION LINE 19
Slide 20: Megapack Production Line
MEGAPACK PRODUCTION LINE SN A =) oa Tee WLL 100,000 LB m= 9,
Slide 21: Tesla Wraps
TESLA WRAPS 21
Slide 22: Key Metrics Quarterly
22 0.0 0.1 0.2 0.3 0.4 0.5 1Q-2021 (Unaudited) 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 (millions of units) Vehicle Deliveries 4Q-2022 KEY METRICS QUARTERLY 1Q-2023 2Q-2023 3Q-2023 4Q-2023 0 1 2 3 4 5 6 7 8 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 Free Cash Flow ($B) 1Q
Slide 23: Key Metrics Trailing 12 Months
23 1.0 1.2 1.4 1.6 1.8 0.0 0.2 0.4 0.6 0.8 2.0 1Q-2021 (Unaudited) 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 (millions of units) Vehicle Deliveries 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 10 12 14 16 18 0 2 4 6 8 20 KEY METRICS TRAILING 12 MONTHS (TTM) 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2
Slide 24: Financial Statements
FINANCIAL STATEMENTS
Slide 25: Statement of Operations
STATEMENT OF OPERATIONS (Unaudited) In millions of USD or shares as applicable, except per share data Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 REVENUES Automotive sales 20,241 18,878 20,419 18,582 20,630 Automotive regulatory credits 467 521 282 554 433 Automotive leasing 599 564 567 489 500 Total au
Slide 26: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 31-Dec-22 31-Mar-23 30-Jun-23 30-Sep-23 31-Dec-23 ASSETS Current assets Cash, cash equivalents and investments 22,185 22,402 23,075 26,077 29,094 Accounts receivable, net 2,952 2,993 3,447 2,520 3,508 Inventory 12,839 14,375 14,356 13,721 13,626 Prepaid e
Slide 27: Statement of Cash Flows
STATEMENT OF CASH FLOWS (Unaudited) In millions of USD Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 CASH FLOWS FROM OPERATING ACTIVITIES Net income 3,707 2,539 2,614 1,878 7,943 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 989
Slide 28: 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 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Net income attributable to common stockholders (GAAP) 3,687 2,513 2,703 1,853 7,928 Stock-based compensation expense 419 418
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 2019 2020 2021 2022 2023 Net (loss) income attributable to common stockholders (GAAP) (862) 721 5,519 12,556 14,997 Stock-based compensation expense 898 1,734 2,121
Slide 30: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 2Q-2020 3Q-2020 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 Net cash provided by operating activities (GAAP) 964 2,400 3,019 1,641 2,124 3,147 4,585 3,9
Slide 31: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its fourth quarter 2023 financial results conference call beginning at 4:30 p.m. CT on January 24, 2024 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS
Slide 32: aT
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