Update on Tesla: Still Losing Money But Ramping Up

Now that the Big Three automakers are back on their feet and turning a profit after imploding during the financial crisis (only Ford didn’t take government bailout money), it has to seem harder than ever for a start-up car company to compete in this brutally cut-throat industry. Tesla Motors, however, is not to be dismissed. In addition to the initial Roaster sports car and their follow-up Model S sedan (due out this July), the larger Model X (check out the Falcon Wing doors) debut seems to be a success as all available pre-orders have been booked. Overall, while the company is losing money, forecasts indicate they will turn a profit within the next year or two.

With three cars currently in the line-up and a track record of sorts starting to form, new business opportunities should be opening up, and confidence in the brand and the company itself seems to be increasing. Revenues for 2011 were up 75% versus 2010. Here are a few highlights from Tesla’s latest earnings statement, as selected by Techcrunch.

• Total Q4 revenues: $39M (up 9% YOY)
• Total 2011 revenues: $204M (up 75% vs. 2010)
• Expected revenues for 2012: $550M-$600M (mostly in late 2012)
• Operating expenses: $89M (GAAP, Generally Accepted Accounting Practices)
• Capital expenditures: $54M (mostly building production infrastructure)
• Net Q4 losses: $81M (GAAP) or $0.78 per share on ~104M shares
• Net 2011 losses: $264M (GAAP) or $2.53 per share
• Beta Model S vehicles are being built at the nearly complete factory – 30 out of 50
• Model S betas successfully do 0-60MPH in 4.5s
• 8000 total reservations for Model S
• Model X debut caused 500 reservations, with $5000 commitment each
• Model X to ship in late 2013 at around 10,000-15,000 units per year
• New deal with Daimler to develop a new Mercedes all-electric powertrain