Summary
For the fiscal year ended December 31, 2019, Tesla, Inc. (TSLA) reported significant growth in total revenues, reaching $24.6 billion, an increase of 15% from the previous year, driven primarily by its automotive segment. The company highlighted record vehicle deliveries and production, with the commencement of Model 3 production in Shanghai and preparations for Model Y production in Fremont, signaling progress in scaling global manufacturing capabilities. Despite a net loss attributable to common stockholders of $862 million, Tesla demonstrated improved operational efficiency, with total operating expenses decreasing as a percentage of revenue. The company's energy generation and storage segment saw a slight revenue decline but continued to deploy significant energy storage capacity and introduce new products like Megapack. Tesla's strategic focus remains on expanding its production capacity across three continents, evidenced by the ongoing development of Gigafactory Shanghai and the planned Gigafactory Berlin. The company also emphasized advancements in its Autopilot and Full Self-Driving (FSD) capabilities. While facing ongoing risks related to production ramp-ups, supply chain management, and increasing competition, Tesla continues to invest heavily in R&D and manufacturing infrastructure to support its mission of accelerating the world's transition to sustainable energy.
Financial Highlights
53 data points| Revenue | $24.58B |
| Cost of Revenue | $20.51B |
| Gross Profit | $4.07B |
| R&D Expenses | $1.34B |
| SG&A Expenses | $2.65B |
| Operating Expenses | $4.14B |
| Operating Income | -$69.00M |
| Interest Expense | $685.00M |
| Net Income | -$870.00M |
| EPS (Basic) | $-0.33 |
| EPS (Diluted) | $-0.33 |
| Shares Outstanding (Basic) | 2.66B |
| Shares Outstanding (Diluted) | 2.66B |
Key Highlights
- 1Total revenues increased by 15% to $24.6 billion in 2019, with the automotive segment being the primary driver.
- 2Achieved record vehicle deliveries (367,656) and production (365,232) in 2019.
- 3Commenced Model 3 production at Gigafactory Shanghai and prepared for Model Y production at Fremont, signaling global manufacturing expansion.
- 4Energy storage deployments in 2019 exceeded all prior years combined, with the launch of the Megapack product.
- 5Research and Development expenses decreased by 8% year-over-year, while SG&A expenses decreased by 7%, reflecting cost optimization efforts.
- 6The company continued to invest significantly in capital expenditures, planning $2.5 billion to $3.5 billion annually for 2020-2022 for factory expansion and product development.
- 7Despite a net loss of $862 million, the company's cash flow from operating activities improved, totaling $2.4 billion in 2019.