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Auto gross margin ex-credits & leases is 18.3%.
Will Zach address this on the call? He forecasted above 20% for the quarter on the last call.
I am calculating the same. 18.3% GM which is lower than Zach's Q1 estimate. That's 1.7% shortfall over guidance, and translates to $800 in ASP shortfall.Rob estimating auto ASP of $47,134 and auto COGS 38,505.
Both are substantial drops from Q4.
Energy generation and storage revenue up 148% yoy, but storage MWh deployed up 360% yoy. Is this the effect of long acceptance cycles between delivery and invoicing? If so, this bodes well for storage revenue growth.
yes, the interconnection queues are a huge pain. the revenue might take a while to be recognized. Meanwhile this deployed stuff counts as inventory increase, and extends the cash conversion cycle.Energy generation and storage revenue up 148% yoy, but storage MWh deployed up 360% yoy. Is this the effect of long acceptance cycles between delivery and invoicing? If so, this bodes well for storage revenue growth.
Not that I’m saying very many of my observations are insightful, just that the responses I get are sometimes not what I expected.What I find ironic is that the observations that I make here that I think are most insightful go unremarked and yet…
The average revenue per MWh deployed has collapsed. I guess they have significantly lowered that with the larger Megapacks accounting for most of the deployed amount.Energy generation and storage revenue up 148% yoy, but storage MWh deployed up 360% yoy. Is this the effect of long acceptance cycles between delivery and invoicing? If so, this bodes well for storage revenue growth.
Edit: storage MWh deployed was up 58% qoq!
He probably didn't account for 7 price cuts in 3 months from Elon.Auto gross margin ex-credits & leases is 18.3%.
Will Zach address this on the call? He forecasted above 20% for the quarter on the last call.
Isn't the revenue recognition being done in a weird delayed manner? I wonder if the cost of revenue are also recognized in such fashion or is it front loaded.Got the Energy ramp I've been waiting for......but without the material increase in margin/profit
The average revenue per MWh deployed has collapsed. I guess they have significantly lowered that with the larger Megapacks accounting for most of the deployed amount.
The GOP congress has released a Debt-Ceiling bill that includes rolling back IRA credits.
The IRA tax credits are, as some here expected, a political football to be used as a negotiating chip in the looming debt ceiling battle.
Disagree. You have very VERY different payment terms from autos and even residential energy.
Now we know why Uncle Leo didn’t get his share buybackFCF is -$100m if you back out reg credits.
I’m by no means an expert and happy to be corrected, but GAAP rules would normally require Tesla to allocate costs alongside any delayed payment terms.
Informative. But I don't see any IRA credits recognized in today's financial report.