Talking Points From Tesla's Q4 Earnings

| About: Tesla Motors (TSLA)

By Devin Coldewey


Things are going smoothly for Tesla (NASDAQ:TSLA). Their big Model X debut was a success, their cars are pre-ordered to capacity, and new business opportunities are presenting themselves. They’re still posting a net loss, of course, but that was expected and will continue for another year or so.

Here are the most salient points from their latest earnings statement, released today:

  • Total Q4 revenues: $39M (up 9% YOY)
  • Total 2011 revenues: $204M (up 75% vs. 2010)
  • Expected revenues for 2012: $550M-$600M (mostly in late 2012)
  • Operating expenses: $89M (GAAP)
  • Capital expenditures: $54M (mostly building production infrastructure)
  • Net Q4 losses: $81M (GAAP) or $0.78 per share on ~104M shares
  • Net 2011 losses: $264M (GAAP) or $2.53 per share
  • Beta Model S vehicles are being built at the nearly complete factory – 30 out of 50
  • Model S betas successfully do 0-60MPH in 4.5s
  • 8000 total reservations for Model S
  • Model X debut caused 500 reservations, with $5000 commitment each
  • Model X to ship in late 2013 at around 10,000-15,000 units per year
  • New deal with Daimler to develop a new Mercedes all-electric powertrain
  • There are more Tesla battery packs at Daimler and Toyota than there are Roadsters

Everything seems to be going according to plan. 2012 should see the Model S hit the streets (in July) and Tesla-developed batteries and powertrains ship in partners’ vehicles. With luck we’ll have a chance to review the car and its interesting new dash system at that time.

The full earnings report and shareholder letter can be found at Tesla’s investor relations site.

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