Tesla logs $38 million in net loss in third quarter of 2013

Article by Anita Panait, on November 6, 2013

Tesla Motors Inc. logged $38 million in net losses and $431 million in revenue in the third quarter of 2013. In the same period in 2012, when the carmaker was just commencing output of the Model S, it posted $111 million in losses and $50 million in revenue. Tesla posted $102 million in gross profit in the third quarter before r&d and sales, general and administrative expenses were counted in.

In terms of non-GAAP figures, Tesla said it logged $16 million in net income on $603 million in revenue for the third quarter, with non-GAAP gross margins pegged at 21 percent.  Tesla’s third-quarter net loss was equivalent to 32 cents a share, while the average estimate of Wall Street analysts was of 11 cents a share in profit on $553 million in sales before special items.

Tesla's non-GAAP accounting excludes non-cash items like: stock-based compensation; the change in fair value related to the company’s warranty liabilities; non-cash interest expense linked to the carmaker’s 1.5 percent convertible senior notes; and one-time expenses associated with the early repayment of Tesla’s Department of Energy loan.

Tesla also included deferred revenue like the full value of cars sold with a resale value guarantee. Through traditional accounting methods, automotive sales represented $325 million in expenses, $56 million in r&d expenses, and $77 million in selling and general administrative expenses, Tesla said.

The carmaker expects its r&d costs to surge 25 percent in the fourth quarter and the selling and administrative expenses to hike 20 percent. Tesla electric car maker generated $26 million of free cash flow in the third quarter, resulting to $796 million in cash on hand.

Topics: tesla, loss

If you liked the article, share on:

Comments

Recommended

Audi will be offering something exciting for its United Kingdom market. The company announced that it will be adding new features as standard to the A4 range. It also confirmed...
by - May 24, 2017
You guys are probably aware of the collaboration between Mercedes-Benz and Renault-Nissan. Knowing this, you would expect that both companies will come up with something impressive. Sources say that the...
by - May 24, 2017
Amongst all sports cars on the planet, which one is the world’s best-selling model? Would you have guessed that it is the Ford Mustang? According to IHS Markit’s global automotive...
by - May 24, 2017
It’s not a bird. It’s not a plane. It’s Kris Singh’s blue carbon flying machine! Time stood still for a few minutes after the extremely rare Pagani Huayra BC Macchina...
by - May 24, 2017
If you’re selling some of the most expensive and most exclusive cars in the world, perhaps it would be a great idea to commission an ultra-rare work from the same...
by - May 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries