TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

2012 Annual 10K is out

Discussion in 'TSLA Investor Discussions' started by JRP3, Mar 7, 2013.

  1. smorgasbord

    smorgasbord Active Member

    Joined:
    Jun 3, 2011
    Messages:
    2,379
    Location:
    SF Bay Area
    Quick search shows no hits for "going concern"
     
  2. JRP3

    JRP3 Hyperactive Member

    Joined:
    Aug 20, 2007
    Messages:
    10,105
    Location:
    Central New York
    I've been looking for the same thing :biggrin:
     
  3. aronth5

    aronth5 Long Time Follower

    Joined:
    May 8, 2010
    Messages:
    1,434
    Location:
    Boston Suburb
    JP will be terribly disappointed, but I suspect he will twist nothing into something.
     
  4. thelastdeadmouse

    Joined:
    Apr 11, 2012
    Messages:
    183
    Location:
    Potsdam, New York
    The report says 2650 Model S's sold last year. That's a little over $15,250 per car. If they sell 20,000 this year that's over 300 million dollars in extra revenue. :D There's been speculation on how much Tesla would get per car, but as far as I know this is the first data directly from Tesla.
     
  5. Robert.Boston

    Robert.Boston Model S VIN P01536

    Joined:
    Oct 7, 2011
    Messages:
    7,842
    Location:
    Portland, Maine, USA
    The guidance on this item was very clear, though: Tesla isn't counting on future ZEV revenues to meet its margin forecasts. Pure gravy.
     
  6. blakegallagher

    Joined:
    Jul 21, 2012
    Messages:
    935
    Location:
    South Texas
    To be fair they made it clear they were not counting on it to reach 25 percent but to me the wording said a large portion of their profits early on would be from credits
     
  7. hershey101

    hershey101 Member

    Joined:
    Jan 22, 2013
    Messages:
    767
    Location:
    New York, New York, United States
    Here I have something for you:
    "We have also publicly announced our intent to develop a third generation electric vehicle to be produced at the Tesla Factory. We intend to
    offer this vehicle at a lower price point and expect to produce it at higher volumes than our Model S. We expect that this vehicle will be
    produced a few years after the introduction of the Model X crossover."

    A FEW years! What if TSLA can't sustain its sales of the Model S and Model X to get enough revenue to fund the R&D costs of Gen III which won't be out for a few years. I take 2014+few years = 2017-2018 for the Gen III. Thats a long time from now, with much more un-certainty than the original 2016 goal for the Gen III we saw before...
     
  8. Mickfair

    Mickfair Member

    Joined:
    Dec 15, 2012
    Messages:
    30
    Location:
    Los Angeles
    Interesting that they reported a material weakness in internal control over financial reporting due to an error in its cash flow statement. It is unfortunate that what appears to be an inadvertent gross up of components of the statement it was determined to rise to the level of a material weakness.
     
  9. brianman

    brianman Burrito Founder

    Joined:
    Nov 10, 2011
    Messages:
    15,487
    For those familiar with such official language, have we already been "introduced" to Model X crossover or not? If yes, did it happen before or after folks like bonnie made a reservation?
     
  10. AustinPowers

    AustinPowers Total Smeghead

    Joined:
    Jan 27, 2012
    Messages:
    1,116
    Location:
    Frankfurt, Germany
    I thought by "introduction" they meant "launch" as in "start of deliveries".
     
  11. PopSmith

    PopSmith Saving for a Model 3

    Joined:
    Jan 22, 2010
    Messages:
    608
    Location:
    Utah
    I believe "introduced", in this context, means "rolling off the assembly line".

    My guess for Tesla's timeline for the next 3-4 years:
    2014: Model X deliveries and BlueStar reveal.
    2015: BlueStar deliveries (possibly 2016 instead) and Roadster 3.0 "revealed".
    2016: Roadster 3.0 deliveries.
     
  12. JRP3

    JRP3 Hyperactive Member

    Joined:
    Aug 20, 2007
    Messages:
    10,105
    Location:
    Central New York
    Since we haven't yet even seen a Gen3 and probably won't until X deliveries start I doubt it will be delivered in 2015, which will also probably push back Roadster 3.0. I'm planning on 2016 for G3 and 2017 for R3.
     
  13. Cattledog

    Cattledog Active Member

    Joined:
    Feb 9, 2012
    Messages:
    1,708
    Location:
    San Antonio, TX
    Agree.

     
  14. Rifleman

    Rifleman Now owns 2 Model S's!!!

    Joined:
    Nov 29, 2011
    Messages:
    936
    Location:
    Harrison Ohio
    I'm not happy about it (since my Volt Lease is up in September of 2015, and I really want to replace it with a Tesla) but I think that you are right on this one.
     
  15. ckessel

    ckessel Active Member

    Joined:
    Jan 15, 2011
    Messages:
    4,266
    I'll be surprised if G3 ships before 2017. That's 4 years from now. 2 years for the X (2015), another 2 for the G3(2017). The G3's volume is a order of magnitude higher. That requires some major investments in factory tooling, staffing, shipping logistics, etc.
     
  16. Curt Renz

    Curt Renz Active Member

    Joined:
    Mar 5, 2013
    Messages:
    1,859
    Location:
    Chicagoland
    Indeed, and perhaps additional factories. That will require new financing. I would not be surprised at a follow-on offering of new shares once a trend of profits is established. By then the receipts would be recognized as fresh money needed for investment in expansion rather than to cover losses. It may actually be a positive for both the share price and the introduction dates for new models.
     
  17. smorgasbord

    smorgasbord Active Member

    Joined:
    Jun 3, 2011
    Messages:
    2,379
    Location:
    SF Bay Area
    You are way too optimistic:

    and

    "Few" is at least 3, maybe 4 years. So that's end of 2017 for Gen3 at the earliest, probably 2018. And that probably means Roadster is more like 2020, if at all. And, that's all assuming Musk doesn't move on after a successful Gen3 launch.
     
  18. ckessel

    ckessel Active Member

    Joined:
    Jan 15, 2011
    Messages:
    4,266
    That's actually the one thing they should be fine with. They're only using something like 20% of the current factory and it used to produce something like 300,000+ cars a year, so they've at least got the space.
     
  19. Volker.Berlin

    Volker.Berlin Member

    Joined:
    Dec 16, 2011
    Messages:
    242
    Just to add a little perspective: Roadster to Model S was 2008 through 2012, i.e., 4 years. And the Roadster didn't really contribute too much to Tesla's bottom line during those years. As much as I wish the Gen III would be available NOW, with the Model S being on track to generate 20+% gross margin at 20k units p.a., I have no concerns regarding Tesla's viability as a company with seeing Gen III scheduled for the end of the decade.
     

Share This Page