Tesla Owners Club - NorCal/Reno
| 4.27.21

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