ࡱ> fg l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~"؈ ~~9#܈ ~~4#܈ ~~8#܈ ~~7#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33 SIGNATURES Exhibit 991KRevenue Gross Margin"Revenue Gross Margin (1)-Income StatementA[ Balance Sheetz Cash Flows&Reconciliation of GAAP to NonGA l  @  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? Exhibit 991Revenue Gross MarginRevenue Gross Margin (1)Income Statement Balance Sheet Cash Flows!Reconciliation of GAAP to NonGAU } } $ } U       Tesla, Inc. 8-K 08/01/2018 SIGNATURES TESLA, INC.   By:  /s/ Deepak Ahuja    Deepak Ahuja   Chief Financial Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(|T~O7}U=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURESRevenue Gross MarginRevenue Gross Margin (1)Income Statement Balance Sheet Cash Flows!Reconciliation of GAAP to NonGAU } $ } $} 6       Tesla, Inc. 8-K 08/01/2018 Exhibit 99.1( Tesla Second Quarter 2018 Update     ?/ 'Q2 Automotive gross margin increased to   % 20.6% GAAP and 21.0% non-GAAP   ?5 -Model 3 gross margin turned slightly positive   * "in Q2, expecting roughly 15% in Q3 ?/'Expecting to produce 50-55k Model 3s in)!Q3; deliveries should exceed that ?/'Major cost restructuring executed in Q2 ?5-$2.2B of cash and cash equivalents at Q2-end,%expected to grow in Q3 and Q4 ?,$Capex projection in 2018 adjusted to$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 |D,).x+f=PF0*8X> @" l  !  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross Margin (1)Income Statement Balance Sheet Cash Flows!Reconciliation of GAAP to NonGAU } -} $ }  } $} $ }  } $}  $ } } $} $ } $} U} $ } $} U       Tesla, Inc. 8-K 08/01/2018Revenue Gross MarginThree Months Ended   Change  June 30,    March 31,   June 30,         ~   ~   ~    QoQ  YoY ! Automotive revenue ($000)~   ~ V  ~ b   ~ ^ % ~  %& Automotive gross margin - GAAP  4@ %   333333@ %   fffff;@ %  ~ Z bp  -735 bp- %Automotive gross margin excluding SBC ~ V %   2@ %  ~ f %  ~ r bp  -400 bp$ and ZEV credit - non-GAAP$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*ht;a9-=PF0*8X> @            l  ,,  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross MarginIncome Statement Balance Sheet Cash Flows!Reconciliation of GAAP to NonGAU } 2} $ }  } $} $ } U} $}  $ } } $} $ } U} U} $ } $} U       Tesla, Inc. 8-K 08/01/2018Revenue Gross MarginThree Months Ended   Change  June 30,    March 31,   June 30,         ~   ~   ~    QoQ  YoY - %Energy generation and storage revenue~ "  ~   ~     -9 % ~ ~ %~ 2 *Energy generation and storage gross margin  '@ %   !@ %   fffff<@ %  ~ 6 bp  -1,716 bp$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*ht;YMA=PF0*8X> @            l  4KY  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross MarginRevenue Gross Margin (1) Balance Sheet Cash Flows!Reconciliation of GAAP to NonGAU } 2} $ }  } $ }  }  $ }  } $ }  } $ }  } $ 4      Tesla, Inc. 8-K 08/01/2018Income StatementThree Months Ended  Six Months Ended   June 30,    March 31,   June 30,   June 30,   June 30,   ~   ~   ~   ~   ~   Revenues                     Automotive sales ~ L  ~ f]  ~ rz  ~  Z  ~ B   Automotive leasing  ~ "   ~     ~    ~ 9   ~ "/   Total automotive revenue~ ~ V  ~  b  ~ s~ bO%Energy generation and storage~ "~   ~    ~ /~ ҏServices and other~ |~   ~  1   ~ ʐ ~ Total revenues~ F~    ~  B  ~ T~ NCost of revenues     Automotive sales~ .g~   ~   Y  ~ B ~ .:Automotive leasing~ N[~ `  ~  &   ~ ~ N)!Total automotive cost of revenues~ z¢~   ~  .d  ~ N(~ z%Energy generation and storage~ (~   ~  o   ~ +~ >Services and other~ ~ @  ~    ~ .~ ֚Total cost of revenues~ ~ 0  ~    ~ ~ _ Gross profit~ %~ :  ~  ޯ(  ~ A~ tQOperating expenses      Research and development~ F~ g  ~    ~ &-~ 9*+#Selling, general and administrative~ -~ )  ~  v   ~ W~ rERestructuring and other~ *P -    -  ~ *P - Total operating expenses~  K~ L@  ~  .d7  ~ ~  oLoss from operations~ ~ J  ~  K  ~  ~ ~DlxOKqY;hP4" !"#$%&'()*+,-./0123 Interest income  ~ "O   ~ zQ   ~ J   ~    ~ { !Interest expense!!~ ! !!!~ !Z!! ! ~ ! a! ! !~ !b!!!~ !VQ!#"Other (expense) income, net""~ "~"""~ """ " ~ " "|" " "~ "."""~ "Za" #Loss before income taxes##~ #f###~ #s## # ~ # 2t# # #~ #.###~ #6#"$Provision for income taxes$$~ $.$$$~ $W$$ $ ~ $ ~$ $ $~ $-$$$~ $v$%Net loss%%~ %:%%%~ %6%% % ~ % % % %~ %nǢ%%%~ %A%/&'Net loss attributable to noncontrolling&&~ &v&&&~ &j&& & ~ & & & &~ &&&&~ &&' interests2(* and redeemable noncontrolling interests')Net loss attributable to common)~ )v4))~ )F)) ~ ) w) ) ~ )))~ ):O)* stockholders*+"Net loss per share of common stock++zG+++(\++ + RQ+ + +ףp= +++HzG+0,( attributable to common stockholders -- basic and diluted1.)Weighted average shares used in computing..~ .6` ...~ .R .. . ~ . r . . .~ .Y ...~ .~ .//' net loss per share of common stock -0 basic and diluted$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/, |vh;&i6=PF0*8X> @332211++++++ ++++)))))) ))))              l  =ky  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross MarginRevenue Gross Margin (1)Income Statement Cash Flows!Reconciliation of GAAP to NonGAU } 7} $ }  } $ }  } $ =                                  Tesla, Inc. 8-K 08/01/2018 Balance SheetJune 30, December 31,  ~   ~   Assets         Current assets        ! Cash and cash equivalents ~ "  ~   Restricted cash  ~    ~ z   Accounts receivable, net~ J"~ t Inventory~ ~ '1)Prepaid expenses and other current assets~ J~ 6aTotal current assets~ V~ b%Operating lease vehicles, net~ H~ A6.Solar energy systems, leased and to be leased,~ ~ k net*"Property, plant and equipment, net~ ~  d+#Goodwill and intangible assets, net~ JB~ .&MyPower customer notes receivable, net~ f~ 2of current portion/'Restricted cash, net of current portion~ i~  Other assets~ ږ~  Total assets~ }~ 2Liabilities and EquityCurrent liabilitiesAccounts payable~ v~ %Accrued liabilities and other~ n~ iD?l{I^WE4b76 ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; <  Deferred revenue  ~ -#   ~ V= !Resale value guarantees!!~ !>')!!!~ !0!"Customer deposits""~ "ƀ9"""~ "~4"5#-Current portion of long-term debt and capital##~ #F^###~ #6#$ leases (1)!%Total current liabilities%%~ %-%%%~ %l%.&&Long-term debt and capital leases, net&&~ &D&&&~ &>>&'of current portion (1)0((Deferred revenue, net of current portion((~ (0(((~ (G(/)'Resale value guarantees, net of current))~ )f#)))~ ))*portion#+Other long-term liabilities++~ +%+++~ +j+,Total liabilities,,~ ,f,,,~ ,6},+-#Redeemable noncontrolling interests--~ -B ---~ -F-.in subsidiaries$/Convertible senior notes (1)// /-///~ //"0Total stockholders' equity00~ 0m000~ 0001(Noncontrolling interests in subsidiaries11~ 12111~ 1<1$2Total liabilities and equity2~ 2}22~ 22233333333304((1) Breakdown of our debt is as follows:444444445 Recourse debt5~ 5 55~ 5P56Non-recourse debt6~ 6266~ 6a677777777789$:____________________________1;)Created by Morningstar Document Research.0<(http://documentresearch.morningstar.com/> 0x @<<;;::666655552222     l  94  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross MarginRevenue Gross Margin (1)Income Statement Balance Sheet!Reconciliation of GAAP to NonGAU } =} $ }  } $ }  }  $ }  } $ }  } $ }  } $ 9      Tesla, Inc. 8-K 08/01/2018 Cash FlowsThree Months Ended  Six Months Ended   June 30,    March 31,   June 30,   June 30,   June 30,   ~   ~   ~   ~   ~  , $Cash Flows from Operating Activities                     Net loss ~ :  ~ 6  ~   ~ nǢ  ~ A 0 (Adjustments to reconcile net loss to net                    ;3 cash provided by (used in) operating activities:1)Depreciation, amortization and impairment~ ~ g  ~    ~ 7~ 6. Stock-based compensation~  ~   ~  *  ~ ~ i 'Losses related to the SolarCity - -    -   -~ δ acquisition Other~ b~ 6c   ~     ~ U~ 4,Changes in operating assets and liabilities,~ ~ :#  ~    ~ ~ 1) net of effect of business combinations-%Net cash used in operating activities~ ~ b  ~  R  ~ b~ ,$Cash Flows from Investing Activities     Capital expenditures~ ~ J  ~  v  ~ ²~ һ6.Payments for the cost of solar energy systems,~ ~ Ƌ  ~    ~ n~ bp" leased and to be leased3+Business combinations, net of cash acquired~ r -    -  ~ r~ V-%Net cash used in investing activities~ R~   ~  S  ~  ک~ Ƃ,$Cash Flows from Financing Activities     +#Net cash flows from debt activities~ ~    ~    ~ t~ "4,Collateralized lease (repayments) borrowings~ ~ 2  ~  "   ~ ~ |Dl~U5c?xm;mG !"#$%&'()*+,-./012345678& Net borrowings under Warehouse  ~ V   ~ 2    ~    ~    ~ i 1!) Agreements and automotive asset-backed "notes4#,Net cash flows from noncontrolling interests##~ ####~ #^## #  # -# # #~ #y### #-#$- Auto4%,Net cash flows from noncontrolling interests%%~ %%%%~ %j%% % ~ % E% % %~ %%%%~ % %&- Solar/''Proceeds from issuances of common stock'' '-''' '-'' '  ' -' ' ' '-'''~ 'l'( in public offerings )Other))~ )6)))~ ) )) ) ~ ) 3) ) )~ )>)))~ ). )1*)Net cash provided by financing activities**~ *zT***~ *2** * ~ * ~+* * *~ */***~ *{**+"Effect of exchange rate changes on++~ ++++~ +ڝ++ + ~ + + + +~ +<+++~ ++(, cash and cash equivalents and- restricted cash%.Net decrease in cash and cash..~ .*\...~ .v.. . ~ . F. . .~ .߷...~ .|.*/" equivalents and restricted cash00(Cash and cash equivalents and restricted00~ 0000~ 0~00 0 ~ 0  0 0 0~ 0~000~ 00 1cash!2 at beginning of period03(Cash and cash equivalents and restricted3~ 333~ 333 ~ 3 f3 3 ~ 333~ 3f3 4cash5 at end of period$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6BfT"b6drbC=PF0*8X> @887766333333 3333              l  1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Exhibit 991Revenue Gross MarginRevenue Gross Margin (1)Income Statement Balance Sheet Cash FlowsU } 0} $ }  } $} $ }  } $} $ } } $} $ }  } $} $ }  } $ 1      Tesla, Inc. 8-K 08/01/2018@8Reconciliation of GAAP to Non-GAAP Financial InformationThree Months Ended  Six Months Ended   June 30,    March 31,   June 30,   June 30,   June 30,   ~   ~   ~   ~   ~  & Automotive gross profit - GAAP ~ N-*  ~    ~ 6&  ~ K  ~ =M (  Stock-based compensation expense  ~ :   ~    ~ t   ~ ҹ   ~ f (  in automotive cost of revenue%ZEV credit revenue recognized -~   ~    ~ ~ -%Automotive gross profit excluding SBC~ *~  ~  ^T!  ~ vI~ 4H and  ZEV credit - non-GAAP     &Automotive gross margin - GAAP4@ %333333@ %   fffff;@  % 3333334@ %33333;@ %( Stock-based compensation expense? %333333? %   333333?  % ? %? %%ZEV credit revenue recognized~  % -1.5 %    -3.3  %  -0.7 % -1.6 %-%Automotive gross margin excluding SBC~ V %2@ %  ~  f  % ~ R %ffffff:@ %$ and ZEV credit - non-GAAP     'Net loss attributable to common~ v4~ F ~  w  ~ ~ :O stockholders - GAAP( Stock-based compensation expense~  ~   ~  *  ~ ~ i 'Losses related to the SolarCity - -    -   -~ δ acquisition'Net loss attributable to common~ ?~ bV ~    ~ V~ m" stockholders - non-GAAPDVlth\P'?p1tS9 !"#$%&'()*+,-./0                     *!"Net loss per share attributable to!!zG!!!(\!! ! RQ! ! !ףp= !!!HzG!)"! common stockholders, basic and# diluted - GAAP($ Stock-based compensation expense$$$(\?$$$$zG?$$ $ $ Q?$ $ $~ $ $$$$q= ףp?$'%Losses related to the SolarCity%% %-%%% %-%% %  % -% % % %-%%%%Q?%& acquisition.'&Net loss income per share attributable''{Gz''' '' ' HzG' ' 'Gz'''HzG' (to))! common stockholders, basic and* diluted - non-GAAP-+%Shares used in per share calculation,++~ +6` +++~ +R ++ + ~ + r + + +~ +Y +++~ +~ +0,( basic and diluted - GAAP and non-GAAP-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&k @_EA3zR=PF0*8X> @j-00//..'''''' ''''!!!!!! !!!!                 Root Entry FBook  {  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcde