Slide 1: Q3 2024 Update
Q3 2024 Update TESLA
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 23 Financial Statements 25 Additional Information 31 2
Slide 3: Highlights Summary
HIGHLIGHTS SUMMARY Profitability $2.7B GAAP operating income in Q3 We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes. We also recognized our second- $2.2B GAAP net income in Q3 highest quarter of regulato
Slide 4: Financial Summary
FINANCIAL SUMMARY (Unaudited) ($ in millions, except percentages and per share data) Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 YoY Total automotive revenues 19,625 21,563 17,378 19,878 20,016 2% Energy generation and storage revenue 1,559 1,438 1,635 3,014 2,376 52% Services and other revenue 2,166 2,
Slide 5: Financial Summary
FINANCIAL SUMMARY Revenue Total revenue increased 8% YoY in Q3 to $25.2B. YoY, revenue was impacted by the following items: + growth in vehicle deliveries + growth in Energy Generation and Storage and Services and Other + higher FSD revenue recognition YoY for releases related to Cybertruck and cert
Slide 6: Operational Summary
OPERATIONAL SUMMARY (Unaudited) Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 YoY Model 3/Y production 416,800 476,777 412,376 386,576 443,668 6% Other models production 13,688 18,212 20,995 24,255 26,128 91% Total production 430,488 494,989 433,371 410,831 469,796 9% Model 3/Y deliveries 419,074 461,538
Slide 7: Vehicle Capacity
VEHICLE CAPACITY Current Installed Annual Vehicle Capacity Production and delivery volumes both returned to year-on-year growth in Q3. We also Region Model Capacity Status produced our 7-millionth vehicle October 22nd. We continued to add to our vehicle lineup by California Model S / Model X 100,000
Slide 8: Core Technology
CORE TECHNOLOGY Artificial Intelligence Software and Hardware FSD V12 Miles FSD Miles 2.0 In Q3, we released the 12.5 series of FSD (Supervised)1 with improved safety and comfort 1.6 thanks to increased data and training compute, a 5x increase in parameter count, and other 1.2 architectural choices
Slide 9: Other Highlights
OTHER HIGHLIGHTS Our Energy and Services and Other businesses are becoming increasingly profitable parts of 1,000 Tesla. As energy storage products continue to ramp and our vehicle fleet continues to grow, 800 600 we are expecting continued profit growth from these businesses over time. 400 200 0 En
Slide 10: 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 we believe the next one will be initiated by advances in autonomy and introduction of new products, including those built on our next generation vehicle
Slide 11: Photos & Charts
PHOTOS & CHARTS
Slide 12: Electric Vehicle Adoption Rate - Growth Continued in Q3
ELECTRIC VEHICLE ADOPTION RATE - GROWTH CONTINUED IN Q3 Global BEV market share* (12-months trailing) 12% 10% China 8% 6% 4% World ex-China 2% 0% 12 *Source: ev-volumes.com and renaultgroup.com/en/finance-2/key-figures/monthly-sales/
Slide 13: Autonomy Will Further Accelerate Our Mission
AUTONOMY WILL FURTHER ACCELERATE OUR MISSION Estimated Lifecycle Emissions of Gas Cars versus Robotaxi (gCO2e/mi) Gas Cars Robotaxi 13
Slide 14: Cybercab - Two-Seater Vehicle Designed for Autonomy
CYBERCAB - TWO-SEATER VEHICLE DESIGNED FOR AUTONOMY 14
Slide 15: Cybercab - Spacious Interior and Extra Large Trunk
CYBERCAB - SPACIOUS INTERIOR AND EXTRA LARGE TRUNK 15
Slide 16: Robovan - Designed for Autonomy
ROBOVAN - SPACE FOR UP TO 20 & DESIGNED FOR AUTONOMY 16
Slide 17: Robotaxi Charging - Wireless Charging Removes Need for a Human
ROBOTAXI CHARGING - WIRELESS CHARGING REMOVES NEED FOR A HUMAN 17
Slide 18: Optimus - Dancing at We, Robot
OPTIMUS - DANCING AT “WE, ROBOT” 18
Slide 19: Optimus Hand - Latest Generation
OPTIMUS HAND - LATEST GENERATION WITH 2X DEGREES OF FREEDOM 19
Slide 20: Fremont Factory - Produced Tesla's 7-Millionth Vehicle
FREMONT FACTORY - PRODUCED TESLA‘S 7-MILLIONTH VEHICLE 20
Slide 21: Powerwall - Available Now
POWERWALL 3 - AVAILABLE NOW 21
Slide 22: Semi Factory - Construction Continues to Progress
SEMI FACTORY - CONSTRUCTION CONTINUES TO PROGRESS 22
Slide 23: Key Metrics Quarterly
23 0.3 0.5 0.0 0.1 0.2 0.4 4Q-2021 (Unaudited) 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 (millions of units) KEY METRICS QUARTERLY Vehicle Deliveries 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 -3 -2 -1 3 5 6 7 0 1 2 4 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Free Cash Flow ($B) 3Q-
Slide 24: Key Metrics Trailing 12 Months (TTM)
24 2.0 0.0 0.6 0.8 0.2 0.4 1.0 1.6 1.8 1.2 1.4 4Q-2021 (Unaudited) 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 (millions of units) Vehicle Deliveries 3Q-2023 4Q-2023 1Q-2024 2Q-2024 3Q-2024 KEY METRICS TRAILING 12 MONTHS (TTM) 10 16 18 0 6 8 12 14 2 4 20 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1
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 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 REVENUES Automotive sales 18,582 20,630 16,460 18,530 18,831 Automotive regulatory credits 554 433 442 890 739 Automotive leasing 489 500 476 458 446 Total au
Slide 27: Balance Sheet
BALANCE SHEET (Unaudited) In millions of USD 30-Sep-23 31-Dec-23 31-Mar-24 30-Jun-24 30-Sep-24 ASSETS Current assets Cash, cash equivalents and investments 26,077 29,094 26,863 30,720 33,648 Accounts receivable, net 2,520 3,508 3,887 3,737 3,313 Inventory 13,721 13,626 16,033 14,195 14,530 Prepaid e
Slide 28: Statement of Cash Flows
STATEMENT OF CASH FLOWS (Unaudited) In millions of USD Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income 1,878 7,943 1,144 1,494 2,183 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and impairment 1,2
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 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Net income attributable to common stockholders (GAAP) 1,853 7,928 1,129 1,478 2,167 Stock-based compensation expense, net of
Slide 30: Reconciliation of GAAP to Non-GAAP Financial Information
RECONCILIATION OF GAAP TO NON–GAAP FINANCIAL INFORMATION (Unaudited) In millions of USD 1Q-2021 2Q-2021 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 Net cash provided by operating activities (GAAP) 1,641 2,124 3,147 4,585 3,995 2,351 5,100 3
Slide 31: Additional Information
ADDITIONAL INFORMATION WEBCAST INFORMATION Tesla will provide a live webcast of its third quarter 2024 financial results conference call beginning at 4:30 p.m. CT on October 23, 2024 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter. CERTAIN TERMS
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