Talking Points From Tesla’s Fourth-Quarter Earnings Statement

Things are going smoothly for Tesla. 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.

Crunchbase

• TESLA MOTORS

Company: Tesla Motors

Website: teslamotors.com

Launch Date: 2003

IPO: September 7, 2010, NASDAQ:TSLA

Tesla Motors, founded by Elon Musk, Marc Tarpenning and Martin Eberhard, is a company that produces a high-performance electric sports car, and is backed by a number of high-profile investors. Introduced in June 2006 to the public complete with a test drive by California Governor Arnold Schwarzenegger, the Tesla Roadster is able to go from 0 to 60 in less than 4 seconds (competitive with Porsche and Lamborghini models), while also delivering 100 miles per gallon (double the...

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