Slide 1: Q3 2021 Update
Q3 2021 Update 1 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 & Charts 11 Key Metrics 18 Financial Statements 20 Additional Information 26
Slide 3: Highlights
The third quarter of 2021 was a record quarter in many respects. We achieved our best-ever net income, operating profit and gross profit. Additionally, we reached an operating margin of 14.6%, exceeding our medium-term guidance of “operating margin in low-teens”. Perhaps more impressively, this leve
Slide 4: Financial Summary
F I N A N C I A L S U M M A R Y (Unaudited) (1)EPS = earnings per share. 4
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 57% YoY in Q3. This was primarily achieved through growth in vehicle deliveries, as well as growth in other parts of the business. At the same time, vehicle ASP declined by 6% YoY as the Model S and Model X mix reduced YoY
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). (2)In Q2 2021, we began including mobile service vehicles dedicated to tire repair in our mobile service fleet total. Prior p
Slide 7: Vehicle Capacity
V E H I C L E C A P A C I T Y In Q3, we saw a continuation of global supply chain, transportation and other manufacturing challenges. We continue to run our production lines as close to full capacity as conditions allow. While sequential growth remains our goal, the magnitude of growth will be deter
Slide 8: Core Technology
C O R E T E C H N O L O G Y Autopilot and Full Self Driving (FSD) In Q3, we hosted AI Day – our recruiting event to attract the best AI talent. After presenting our end-to-end vision of full autonomy (fleet data collection, labelling, simulation, neural net training, vehicle processing, etc.), as we
Slide 9: Other Highlights
O T H E R H I G H L I G H T S Energy Storage Energy storage deployments increased by 71% YoY in Q3, mainly driven by strong Megapack deployments. We recently announced our new Megapack factory with a capacity of 40 GWh, which compares to total Megapack deployments of 3 GWh in the last 12 months. We
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. The rate of growth will depend on our equipment capacity, operational efficiency and the capaci
Slide 11: Photos & Charts
P H O T O S & C H A R T S
Slide 12: Gigafactory Berlin - County Fair
G I G A F A C T O R Y B E R L I N - C O U N T Y F A I R 12
Slide 13: Gigafactory Texas - Office Space with Factory View
G I G A F A C T O R Y T E X A S - O F F I C E S P A C E W I T H F A C T O R Y V I E W 13
Slide 14: Gigafactory Texas - Model Y Quality Control
G I G A F A C T O R Y T E X A S - M O D E L Y Q U A L I T Y C O N T R O L 14
Slide 15: Gigafactory Texas - Exterior
G I G A F A C T O R Y T E X A S - E X T E R I O R 15
Slide 16: Gigafactory Shanghai - R&D Center in the Foreground
G I G A F A C T O R Y S H A N G H A I - R & D C E N T E R I N T H E F O R E G R O U N D 16
Slide 17: Gigafactory Shanghai - Giga Presses
G I G A F A C T O R Y S H A N G H A I - G I G A P R E S S E S 17
Slide 18: 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) Operating Cash Flow ($B) Free Cash Flow ($B) Net income ($B) Adjusted EBITDA ($B) 18
Slide 19: Key Metrics Trailing 12 Months
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) Net income ($B) Adjusted EBITDA ($B) 19
Slide 20: Financial Statements
F I N A N C I A L S T A T E M E N T S
Slide 21: 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) 21
Slide 22: Balance Sheet
B A L A N C E S H E E T (Unaudited) 22
Slide 23: 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) 23
Slide 24: 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) 24
Slide 25: 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) TTM = Trailing twelve months 25
Slide 26: 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 third quarter 2021 financial results conference call beginning at 4:30 p.m. CT on October 20, 2021 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereaf
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