Tesla, Inc. · NASDAQ:TSLA
Tesla — Q1 2021 Earnings Presentation
30 slides from Tesla's earnings presentation, Apr 26, 2021
Slide 1: Q1 2021 Update
Q1 2021 Update Exhibit 99.1
Slide 2: Contents
Highlights 03 Financial Summary 04 Operational Summary 06 Vehicle Capacity 07 Core Technology 08 Other Highlights 09 Outlook 10 Photos 11 Key Metrics 21 Financial Statements 23 Additional Information 29
Slide 3: Highlights
In Q1, we achieved our highest ever vehicle production and deliveries. This was in spite of multiple challenges, including seasonality, supply chain instability and the transition to the new Model S and Model X. Our GAAP net income reached $438M, and our non-GAAP net income surpassed $1B for the fir
Slide 4: Financial Summary
F I N A N C I A L S U M M A R Y (Unaudited) 4 (1) Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020. EPS = Earnings per share
Slide 5: Financial Summary: Revenue, Profitability, Cash
F I N A N C I A L S U M M A R Y Revenue Profitability Cash Total revenue grew 74% YoY in Q1. This was primarily achieved through substantial growth in vehicle deliveries, as well as growth in other parts of the business. At the same time, vehicle ASP declined by 13% YoY as Model S and Model X delive
Slide 6: Operational Summary
(1) Days of supply is calculated by dividing new car ending inventory by the relevant quarter’s deliveries and using 75 trading days (aligned with Automotive News definition). 6 O P E R A T I O N A L S U M M A R Y (Unaudited)
Slide 7: Vehicle Capacity
V E H I C L E C A P A C I T Y ICE vehicles comprised 97% of cars sold globally in 2020 and 98% of Tesla trade-ins.1 As more OEMs join our mission by launching EVs, we believe consumer confidence in EVs continues to increase and more customers are willing to make the switch. Our Q1 order rate2 was th
Slide 8: Core Technology
C O R E T E C H N O L O G Y Autopilot and Full Self Driving (FSD) Our team continues to focus on the V9 version of FSD City Streets beta, which will soon become more widely available in the United States. We believe that a vision-only system is ultimately all that is needed for full autonomy. Our AI
Slide 9: Other Highlights
O T H E R H I G H L I G H T S Energy Storage Energy storage deployments grew 71% YoY in Q1, mainly driven by the popularity of Powerwall. Demand for Powerwall continues to far exceed our production rate. As a result, we recently shifted Powerwall deliveries to solar customers only. As we increase ou
Slide 10: Outlook
O U T L O O K Volume Cash Profit Product We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. In some years we may grow faster, which we expect to be the case in 2021. The rate of growth wi
Slide 11: Photos
P H O T O S
Slide 12: Gigafactory Berlin - Model Y Factory Construction
12 G I G A F A C T O R Y B E R L I N - M O D E L Y F A C T O R Y C O N S T R U C T I O N
Slide 13: Gigafactory Berlin - Giga Casting
13 G I G A F A C T O R Y B E R L I N - G I G A C A S T I N G
Slide 14: Gigafactory Berlin - Stamping Press
14 G I G A F A C T O R Y B E R L I N - S T A M P I N G P R E S S
Slide 15: Gigafactory Texas - Model Y Factory Construction
G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y C O N S T R U C T I O N 15
Slide 16: Gigafactory Texas - Model Y Factory Construction
16 G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y C O N S T R U C T I O N
Slide 17: Gigafactory Texas - Model Y Factory Interior
17 G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y I N T E R I O R
Slide 18: Gigafactory Texas - Model Y Factory Interior
18 G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y I N T E R I O R
Slide 19: Gigafactory Shanghai - Expansion Continues
G I G A F A C T O R Y S H A N G H A I - E X P A N S I O N C O N T I N U E S 19
Slide 20: Tesla Semi - Prototype Testing
T E S L A S E M I - P R O T O T Y P E T E S T I N G 20
Slide 21: Key Metrics Quarterly
Vehicle Deliveries (units) K E Y M E T R I C S Q U A R T E R L Y (Unaudited) 21 Operating Cash Flow ($B) Free Cash Flow ($B) Net income ($B) Adjusted EBITDA ($B)
Slide 22: Key Metrics Trailing 12 Months (TTM)
Vehicle Deliveries (units) Operating Cash Flow ($B) Free Cash Flow ($B) K E Y M E T R I C S T R A I L I N G 1 2 M O N T H S ( T T M ) (Unaudited) 22 Net income ($B) Adjusted EBITDA ($B)
Slide 23: Financial Statements
F I N A N C I A L S T A T E M E N T S
Slide 24: Statement of Operations
S T A T E M E N T O F O P E R A T I O N S (Unaudited) 24 (1)Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020.
Slide 25: Balance Sheet
B A L A N C E S H E E T (Unaudited) 25
Slide 26: Statement of Cash Flows
S T A T E M E N T O F C A S H F L O W S (Unaudited) 26
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Information
R e c o n c I l I a t I o n o f G A A P t o N o n – G A A P F I n a n c I a l I n f o r m a t I o n (Unaudited) 27 (1) Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Information
R e c o n c I l I a t I o n o f G A A P t o N o n – G A A P F I n a n c I a l I n f o r m a t I o n (Unaudited) 28 TTM = Trailing twelve months
Slide 29: Additional Information
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 first quarter 2021 financial results conference call beginning at 2:30 p.m. PT on April 26, 2021 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafte
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