Summary
Tesla, Inc.'s (TSLA) Q1 2021 10-Q filing reveals a strong start to the year, characterized by significant revenue growth across its automotive and energy segments. Total revenues surged by 74% year-over-year, driven primarily by a substantial increase in automotive sales, which were up 78%. This growth was fueled by higher delivery volumes of Model 3 and Model Y, coupled with a notable increase in automotive regulatory credit sales. The company also demonstrated improved profitability, with net income attributable to common stockholders rising significantly. Operating expenses, particularly R&D, increased substantially to support product development and expansion, but this was largely offset by revenue growth and improved operational efficiencies in certain areas. Notably, Tesla made a significant investment in digital assets, purchasing $1.5 billion in Bitcoin during the quarter and beginning to accept it as payment, while also realizing gains and incurring impairment losses on its holdings. Despite supply chain challenges, including a global semiconductor shortage, and ongoing pandemic-related impacts, Tesla maintained a strong cash position and generated robust positive cash flow from operations, enabling continued capital expenditures for global expansion. The company's strategic investments in manufacturing capacity, including Gigafactories in Texas and Berlin, are progressing as planned, positioning Tesla for continued growth.
Financial Highlights
50 data points| Revenue | $10.39B |
| Cost of Revenue | $8.17B |
| Gross Profit | $2.21B |
| R&D Expenses | $666.00M |
| SG&A Expenses | $1.06B |
| Operating Expenses | $1.62B |
| Operating Income | $594.00M |
| Interest Expense | $99.00M |
| Net Income | $438.00M |
| EPS (Basic) | $0.15 |
| EPS (Diluted) | $0.13 |
| Shares Outstanding (Basic) | 2.88B |
| Shares Outstanding (Diluted) | 3.40B |
Key Highlights
- 1Total revenues grew 74% year-over-year to $10.39 billion in Q1 2021.
- 2Automotive sales revenue increased by 78% to $8.71 billion, driven by higher Model 3 and Model Y deliveries.
- 3Net income attributable to common stockholders was $438 million, a significant increase from $16 million in the prior year period.
- 4The company invested $1.5 billion in Bitcoin and began accepting it as a payment method.
- 5Cash flow from operating activities was strong at $1.64 billion, a significant improvement from a use of $440 million in Q1 2020.
- 6Capital expenditures increased substantially to $1.35 billion, reflecting ongoing investments in manufacturing capacity and new facilities like Gigafactory Texas and Berlin.
- 7Energy generation and storage revenue saw a 69% increase to $494 million.