Elon surprised everyone with some announcements on the Tesla 2018 Q4 earnings call. Here are my takeaways. Check out my interactive Tesla Financials dashboard here https://teslanomics.co/tesla-financials
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// Tesla Fourth Quarter & Full Year 2018 Update
– Q4 operating income stable compared to
Q3 at $414M, operating margin of 5.7%
– Operating cash flow less capex improved from Q3 to $910M in Q4
– Cash and cash equivalents of $3.7B at Q4-end, increased by $718M in Q4
– Q4 GAAP net income of $139M impacted by $54M non-cash charge
Model 3 GAAP and non-GAAP gross margin remained stable at 20% in Q4
Last year was the most pivotal year in Tesla’s history. During our Model 3 production ramp, we went through significant challenges with the battery module line at Gigafactory 1 in Nevada, and later with our general assembly line in Fremont. Thanks to the hard work and ingenuity of our manufacturing teams, by mid-2018
we successfully overcame these challenges and stabilized Model 3 production at high volumes. Model 3 then went on to become the best-selling passenger car in the US in terms of revenue in both Q3 and Q4. With nearly 140,000 units sold, Model 3
was also the best-selling premium vehicle (including SUVs) in the US for 2018 – the first time in decades an American carmaker has been able to secure the top spot.