Tesla, Inc. SEC 10-Q Report
Tesla, Inc., a leading innovator in the electric vehicle and clean energy sectors, has released its Form 10-Q report for the first quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting both challenges and strategic advancements in its business model.
Financial Highlights
Total Revenues: $19,335 million, representing a decrease of $1,966 million or 9% compared to the same period in the prior year, primarily due to a decrease in automotive sales.
Gross Profit: $3,153 million, with a gross margin of 16.3%, down from 17.4% in the prior year, reflecting lower average selling prices and changes in sales mix.
Income from Operations: $399 million, a decrease from $1,171 million in the prior year, impacted by lower gross profit and increased operating expenses.
Net Income: $420 million, a decrease from $1,405 million in the prior year, primarily due to lower operating income and unfavorable changes in other income.
Net Income Attributable to Common Stockholders: $409 million, down from $1,390 million in the prior year, reflecting the overall decrease in net income.
Basic Net Income Per Share: $0.13, compared to $0.45 in the prior year, reflecting the decrease in net income.
Diluted Net Income Per Share: $0.12, compared to $0.41 in the prior year, reflecting the decrease in net income.
Cash Flows from Operating Activities: $2,156 million, a significant increase from $242 million in the prior year, driven by improved working capital management and operational cash generation.
Capital Expenditures: $1,492 million, a decrease from $2,777 million in the prior year, reflecting a reduction in spending on new projects and facilities.
Business Highlights
Revenue Segments: Automotive sales revenue decreased by 21% due to a reduction in Model 3 and Model Y deliveries, influenced by production line changes for the New Model Y. Energy generation and storage revenue increased by 67%, driven by higher Megapack and Powerwall deployments.
Geographical Performance: The United States saw an increase in revenue to $10.33 billion, while China experienced a slight decrease to $4.30 billion. Other international markets saw a significant decline in revenue to $4.70 billion.
Sales Units: Approximately 363,000 consumer vehicles were produced, and 337,000 were delivered in the first quarter of 2025. The decrease in deliveries was partly due to the simultaneous changeover of production lines for the New Model Y.
New Product Launches: The New Model Y was introduced, with production lines changed over across all factories, marking an industry first.
New Production Launches: Production of the Cybertruck has commenced at Gigafactory Texas, and construction is ongoing for the Cybercab and Tesla Semi at Gigafactory Nevada.
Future Outlook: The company plans to focus on profitable growth by leveraging existing factories, introducing new products, and expanding global infrastructure. Capital expenditures are expected to exceed $10 billion in 2025, with a focus on autonomy, supply chain vertical integration, and new product development.
SEC Filing: Tesla, Inc. [ TSLA ] - 10-Q - Apr. 22, 2025