Tesla, Inc. · NASDAQ:TSLA
Tesla — Q4 2020 Earnings Presentation
34 slides from Tesla's earnings presentation, Jan 27, 2021
Slide 1: Q4 and FY2020 Update
Q4 and FY2020 Update Exhibit 99.1
Slide 2: Contents
Highlights 03 Financial Summary 04 Operational Summary 07 Vehicle Capacity 08 Core Technology 09 Other Highlights 10 Outlook 11 Photos & Charts 12 Key Metrics 25 Financial Statements 27 Additional Information 33
Slide 3: Highlights
This past year was transformative for Tesla. Despite unforeseen global challenges, we outpaced many trends seen elsewhere in the industry as we significantly increased volumes, profitability and cash generation. For the full year 2020, we achieved an industry-leading1 6.3% operating margin (despite
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
F I N A N C I A L S U M M A R Y (Unaudited) 5 (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 6: 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 46% YoY in Q4. 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 average selling price (ASP) declined by 11% YoY as our
Slide 7: Operational Summary
(1) Days of supply is calculated by dividing new car ending inventory by the quarter’s deliveries and using 75 trading days (aligned with Automotive News definition). 7 O P E R A T I O N A L S U M M A R Y (Unaudited)
Slide 8: Vehicle Capacity
Global market share of Tesla vehicles by region V E H I C L E C A P A C I T Y Fremont Over the past few weeks, we have been upgrading our Fremont Factory to launch the new Model S and Model X. These changes include a new powertrain (battery modules, battery packs, drive units), an entirely new inter
Slide 9: Core Technology
C O R E T E C H N O L O G Y Autopilot & Full Self Driving (FSD) Over the last few months, we released multiple software updates to our FSD City Streets beta testers.1 With each iteration, the system is becoming more robust, resulting in the widening of our user base. We continue to work on the devel
Slide 10: Other Highlights
O T H E R H I G H L I G H T S Energy Storage Energy storage deployments grew substantially from 2019 to 2020. For the first time, our total battery deployments surpassed 3 GWh in a single year, which is an 83% increase compared to the prior year. This growth was driven mainly by the popularity of Me
Slide 11: Outlook
O U T L O O K Introduction Volume Cash Profit Product Given the number of significant projects in the pipeline, we have simplified our approach to guidance for 2021, enabling our teams to remain focused on achieving our long-term goals. We are planning to grow our manufacturing capacity as quickly a
Slide 12: Photos & Charts
P H O T O S & C H A R T S
Slide 13: Tesla Models - Front Interior
T E S L A M O D E L S - F R O N T I N T E R I O R 13
Slide 14: Tesla Models - Rear Interior
T E S L A M O D E L S - R E A R I N T E R I O R 14
Slide 15: Tesla Model S Plaid - Exterior
T E S L A M O D E L S P L A I D - E X T E R I O R 15
Slide 16: Gigafactory Shanghai - Model Y Diecast
G I G A F A C T O R Y S H A N G H A I - M O D E L Y D I E C A S T 16
Slide 17: Gigafactory Shanghai - Model Y Stamping
G I G A F A C T O R Y S H A N G H A I - M O D E L Y S T A M P I N G 17
Slide 18: Gigafactory Shanghai - Model Y Body Shop
G I G A F A C T O R Y S H A N G H A I - M O D E L Y B O D Y S H O P 18
Slide 19: Gigafactory Shanghai - Model Y General Assembly
G I G A F A C T O R Y S H A N G H A I - M O D E L Y G E N E R A L A S S E M B L Y 19
Slide 20: Gigafactory Shanghai - Model 3 and Model Y Factories
G I G A F A C T O R Y S H A N G H A I - M O D E L 3 F A C T O R Y ( F O R E G R O U N D ) ; M O D E L Y F A C T O R Y ( B A C K G R O U N D ) 20
Slide 21: Gigafactory Berlin - Model Y Factory Construction
21 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 22: Gigafactory Berlin - Model Y Factory Interior
22 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 I N T E R I O R
Slide 23: Gigafactory Berlin - Model Y Factory Interior
23 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 I N T E R I O R
Slide 24: Gigafactory Texas
24 G I G A F A C T O R Y T E X A S 3 months ago Present day
Slide 25: Key Metrics Quarterly
Vehicle Deliveries (units) Net Income ($B) K E Y M E T R I C S Q U A R T E R L Y (Unaudited) 25 Operating Cash Flow ($B) Free Cash Flow ($B)
Slide 26: Key Metrics Trailing Twelve Months
K E Y M E T R I C S T R A I L I N G 1 2 M O N T H S ( T T M ) (Unaudited) Vehicle Deliveries (units) Operating Cash Flow ($B) Free Cash Flow ($B) Net Income ($B) 26
Slide 27: Financial Statements
F I N A N C I A L S T A T E M E N T S
Slide 28: 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) 28 (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 29: Balance Sheet
B A L A N C E S H E E T (Unaudited) 29
Slide 30: 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) 30
Slide 31: 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) 31 (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. (2) Adjusted EBITDA margin is A
Slide 32: 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) 32 (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. (2) Adjusted EBITDA margin is A
Slide 33: 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 fourth quarter 2020 financial results conference call beginning at 3:30 p.m. PT on January 27, 2021 at ir.tesla.com. This webcast will also be available for replay for approximately one year therea
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