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Tesla Inc. (TSLA+3.38%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing total revenues of $97.69 billion, a slight increase from $96.77 billion in the previous year. Automotive sales revenue decreased by 8% to $72.48 billion, while automotive regulatory credits revenue increased by 54% to $2.76 billion.
Tesla reported a net income attributable to common stockholders of $7.09 billion, down from $14.99 billion in the previous year, primarily due to the impact of releasing a valuation allowance on U.S. federal and state deferred tax assets in the prior year.
The company produced approximately 1,773,000 consumer vehicles and delivered approximately 1,789,000 consumer vehicles in 2024. Tesla continues to focus on expanding its production capacity and improving manufacturing efficiency.
Tesla's energy generation and storage segment saw revenues increase by 67% to $10.09 billion, driven by a significant rise in energy storage deployments.
The company ended 2024 with $36.56 billion in cash and cash equivalents and investments, reflecting an increase of $7.47 billion from the end of 2023.
Tesla's capital expenditures amounted to $11.34 billion in 2024, up from $8.90 billion in 2023, as the company continues to invest in global factory expansion and AI-related infrastructure.
The filing also details various legal proceedings, including ongoing litigation related to the 2018 CEO Performance Award and investigations by the SEC and DOJ. Tesla is cooperating with these investigations and cannot predict their outcomes.
Tesla's management highlights the company's focus on profitable growth, including the introduction of new products, expansion of the Supercharger network, and advancements in autonomous driving technology.
The company acknowledges the risks related to supply chain constraints, regulatory changes, and competition in the electric vehicle and energy storage markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Tesla Inc. annual 10-K report dated January 30, 2025. To report an error, please email earnings@qz.com.