Tesla, Inc. (TSLA) saw its loss widen to $330.28 million, or $2.04 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $282.27 million, or $2.13 a share. On the other hand, adjusted net loss for the quarter widened to $214.99 million, or $1.33 a share from a loss of $192.61 million or $1.46 a share, a year ago.
Revenue during the quarter surged 135.06 percent to $2,696.27 million from $1,147.05 million in the previous year period. Gross margin for the quarter expanded 276 basis points over the previous year period to 24.77 percent. Operating margin for the quarter stood at negative 9.55 percent as compared to a negative 21.64 percent for the previous year period.
Operating loss for the quarter was $257.55 million, compared with an operating loss of $248.22 million in the previous year period.
Operating cash flow remains negative
Tesla, Inc. has spent $69.81 million cash to meet operating activities during the quarter as against cash outgo of $249.60 million in the last year period.
The company has spent $926.94 million cash to meet investing activities during the quarter as against cash outgo of $233.82 million in the last year period.
Cash flow from financing activities was $1,598.75 million for the quarter, up 123.47 percent or $883.31 million, when compared with the last year period.
Cash and cash equivalents stood at $4,006.59 million as on Mar. 31, 2017, up 177.89 percent or $2,564.80 million from $1,441.79 million on Mar. 31, 2016.
Working capital increases sharply
Tesla, Inc. has recorded an increase in the working capital over the last year. It stood at $782.45 million as at Mar. 31, 2017, up 1,409.24 percent or $730.61 million from $51.84 million on Mar. 31, 2016. Current ratio was at 1.13 as on Mar. 31, 2017, up from 1.02 on Mar. 31, 2016.
Cash conversion cycle (CCC) has decreased to 7 days for the quarter from 52 days for the last year period. Days sales outstanding went down to 10 days for the quarter compared with 19 days for the same period last year.
Days inventory outstanding has decreased to 49 days for the quarter compared with 131 days for the previous year period. At the same time, days payable outstanding went down to 66 days for the quarter from 98 for the same period last year.
Debt increases substantially
Tesla, Inc. has witnessed an increase in total debt over the last one year. It stood at $8,162.27 million as on Mar. 31, 2017, up 161.64 percent or $5,042.65 million from $3,119.61 million on Mar. 31, 2016. Total debt was 32.58 percent of total assets as on Mar. 31, 2017, compared with 33.94 percent on Mar. 31, 2016. Debt to equity ratio was at 1.41 as on Mar. 31, 2017, down from 3.21 as on Mar. 31, 2016.
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