Tesla, Inc. Quarterly Report for Q3 Ended Sep 30, 2021

Summary

Tesla, Inc. (TSLA) reported strong financial performance for the third quarter of 2021, with total revenues reaching $13.76 billion, a significant 57% increase year-over-year. This growth was primarily driven by robust automotive sales, which saw a 59% jump, reflecting higher delivery volumes of Model 3 and Model Y vehicles. Profitability also improved considerably, with net income attributable to common stockholders rising from $331 million in Q3 2020 to $1.62 billion in Q3 2021. This substantial increase in net income highlights improved operational efficiencies and strong demand for Tesla's products. The company's balance sheet remains solid, with total assets growing to $57.83 billion. Despite increased capital expenditures of $4.67 billion for the nine months ended September 30, 2021, Tesla generated $6.91 billion in operating cash flow, demonstrating its ability to fund its growth initiatives internally.

Key Highlights

• 1Total revenues for Q3 2021 were $13.76 billion, up 57% from $8.77 billion in Q3 2020.
• 2Automotive sales revenue increased by 59% to $11.67 billion, driven by higher Model 3 and Model Y deliveries.
• 3Net income attributable to common stockholders surged to $1.62 billion in Q3 2021, compared to $331 million in Q3 2020.
• 4Gross profit margin improved to 27% in Q3 2021, up from 24% in Q3 2020, driven by automotive segment efficiencies.
• 5Cash and cash equivalents stood at $16.07 billion as of September 30, 2021, providing ample liquidity.
• 6Capital expenditures for the nine months ended September 30, 2021, were $4.67 billion, supporting global expansion and R&D.
• 7Digital assets (Bitcoin) held on the balance sheet were $1.26 billion, with a fair market value of $1.83 billion as of September 30, 2021.

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