Tesla Q4 2024 Earnings Report Highlights - $TSLA

- Total Revenues: $25.7 billion, up 2% YoY. 

- Automotive Revenues: $19.8 billion, down 8% YoY.

- Energy Generation and Storage Revenues: $3.1 billion, up 113% YoY.

- Services and Other Revenues: $2.8 billion, up 31% YoY.

- Gross Margin: 16.3%, down 138 bp YoY.

- Net Income: $2.3 billion, down 71% YoY.

- Free Cash Flow: $2.0 billion, down 2% YoY.

- Cash and Equivalents: $36.6 billion, up 26% YoY.

- Long Term Debt: $7.9 billion, up 69.2% YoY.

- Diluted Shares Outstanding: 3.5 billion, up 0.7% YoY.

- In Q4, COGS per vehicle reached its lowest level ever at <$35,000.

- Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle line-up.

- With the advancements in vehicle autonomy and the introduction of new products, we expect the vehicle business to return to growth in 2025. 

- Semi Factory construction continued in Q4 and recently completed roof and wall enclosure of the main building area. First truck builds are scheduled to start by end of 2025 with ramp beginning in early 2026.

- Increased AI training compute by over 400% in 2024.

- Over three billion miles driven cumulatively on FSD Supervised as of January.

- In Q4, Tesla vehicles using Autopilot technology drove 5.94 million miles between accidents compared to the U.S. average of .70 million miles.

- We expect energy storage deployments to grow at least 50% year-over-year in 2025.
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