Q1 2021 Update
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Highlights from the report
Cash
- Operating cash flow less capex (free cash flow) of $293M in Q1
- Debt and finance lease reduction of $1.2B in Q1
- Net cash outflow of $1.2B related to Bitcoin in Q1
- In total, $2.2B decrease in our cash and cash equivalents in Q1 to $17.1B
Profitability
- $594M GAAP operating income; 5.7% operating margin in Q1
- $438M GAAP net income; $1.1B non-GAAP net income (ex-SBC1) in Q1
- Stock Based Compensation expense of $614M in Q1
Operations
- Model 3 was the best-selling premium sedan in the world3
- Production ramp of Model Y in Shanghai progressing well
- Record vehicle production and deliveries in Q1
