https://ir.tesla.com/node/19496/html
The above 10k reports a $976 Million loss for 2018. If you want to "Ctrl-F" something, try "Net Loss", which should bring you to the $976 Million loss in the financial sheets. Or search for "(976,091)", which is the precise number in that 10k for their Net Loss.
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The 10Q reports (quarterly) for 2019 aren't much better.
Q1 2019 reports a $702 Million loss (in ONE quarter!!): https://ir.tesla.com/node/19771/html
Q2 2019 reports a $389 Million loss: https://ir.tesla.com/node/20111/html
H1 2019 has lost $1.09 Billion loss, and there's 2 quarters left in this year. Even if Q3 2019 ends up profitable (and I find that unlikely), there's basically no chance for 2019 to be profitable either.
Tesla has bet it all (again) on Shanghai Gigafactory 3. The Model 3 rollout to the USA has been wildly unprofitable, Tesla needs to sell significantly more vehicles at significantly higher prices.
Gigafactory Shanghai will arguably help, but that's another $5 Billion bet, and Gigafactory 1 isn't even paid off yet. (Gigafactory 1 was paid with debt due 2019 and 2022. The 2019 debt was rolled over to 2014, and 2022 isn't looking too hot IMO).
Tesla has time to turn things around before 2022. Although, maybe Musk can pull a Musk again and convince everybody that the company is worthwhile and all the bondholders offer another $Billion loan. Clearly it worked for rolling over the 2019 debt, but I have my doubts that it will keep working.
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EDIT: Elon Musk likes to confuse the issue by talking about "Gross Profits". Yes, Tesla has a "gross profit", but most people don't actually know what that means. When people talk about "profits / loss", they typically mean "net profit".
The TL;DR is that financial sheets talk about 4 kinds of money: Revenue, Gross, Operating, and finally Net. "Net" is the bottom line, while "Revenue" is every dollar that ever came into the company (usually sales).
Gross (aka "Gross Profits") subtracts "COGS", cost of goods sold. Operating (aka: Operating Profits or EBITDA) subtracts marketing / sales / other costs, and finally "Net" subtracts out debt and taxes.
So Musk confuses the issue because he talks "Gross Profits" when most CEOs really talk about "Net Profits".
The three sheets of importance are:
1. Balance sheets -- Assets vs Liabilities. A listing of all of the debt, factories, cash, etc. etc. and an estimated dollar value on everything. Add everything together, and you have the rough value of the company, the so called "Equity".
2. Income Statement -- Calculates Profits (or in this case, a loss), which is roughly a "Change in Balance Sheets". "Net Profits" means balance sheets are more towards +Assets, while "Net loss" is balance sheet had more +Liabilities.
3. Cash Flow -- How much money is in the bank. Start with the Income Statement and "reverses" the calculation to get to actual $$ flowing in or out of their bank.
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When a business-folk says "profits", they talk about #2 being positive. But when colloquial people mean "profits", they typically mean #3. Understanding the difference between colloquial "Profits" (which is really Cash Flow) vs "Business profits" requires a good bit of study.
If Tesla pays for a $5 Billion factory (ex: Gigafactory Shanghai), you'll have -$5 Billion Cash Flow, but $0 in income. Because -$5 Billion cash becomes +$5 Billion factory in the asset sheets.
Tesla's 2019 Bonds were initially 0.25%. They were rolled over into 2.00% bonds due 2024. Furthermore, Tesla paid hundreds-of-millions of dollars for this opportunity. I've seen estimates suggest that the "real" price (once the hundreds-of-millions are factored in) suggests a "real price" of ~8% on the 2024 bonds. (That is, pretending that the hundreds-of-millions Tesla paid for the opportunity to borrow money is instead "part of the bond", and suddenly the 2% bond is really closer to a traditional 8% bond).
https://www.bloomberg.com/news/articles/2019-05-03/tesla-rai...
Look: I get it. They didn't make money from the Nevada Gigafactory and needed the cash severely to fund Gigafactory 3 in Shanghai.
I'm just saying that when all of this debt hits them come 2022 (let alone the 2024 "recycled" debt to pay off 2019) Tesla will be in a much worse position.
Not immediate danger, but Tesla has never made a yearly profit in this entire decade. The two profitable quarters (Q3 2018 / Q4 2018) were completely wiped out by awful performance in Q1 2019.
If things keep going the way they're going, I'd estimate Tesla only has maybe till 2022 or 2023. That's enough time to turn the company around, but you can only lose billions-of-dollars / year for so long before the whole shebang collapses.
My 2022 estimate is based on two things:
1. December 2020 is SolarCity's last bond. Most likely, Musk will find a way to avoid paying for the bond IMO (probably rolling off SolarCity as a subsidiary or something), limiting the damage to Tesla.
2. March 2021 is the next major bond repayment, initially taken out for the Nevada Gigafactory. Musk is pretty good about raising money, but after shenanigans with Dec 2020, I'm not sure if the market will be so forgiving. Banks would rather him succeed however, so I expect a kind of "One last chance" here.
3. March 2022 is the next major bond repayment.
4. If Tesla survives past 2022, they have over a full year before 2024 and 2025 bond repayments kick in again.
Tesla's next major tests are about whether or not they can pay back the 2021 / 2022 bonds. Well, not necessarily "pay back", but they should be making a profit and not just "borrowing more money to pay off older bonds". If the market realizes that Tesla is exponentially losing money here, they'll be in a bad spot.
That gives all of 2020 for Tesla to turn around. The Model 3 has proven unprofitable in the USA, the only hope is Chinese sales through the $5 Billion Gigafactory 3. Not exactly a bet I want to take (if the technology is unprofitable in the USA, why would it be more profitable if you made a similar factory in China?? Musk should have focused on profitability in Nevada before expanding...