Just one question: "As for non-cash Q1 profit attributable to deferred revenues, it’s also clearly disclosed in their CFS — an incredibly measly $195M"
It might be a matter of wording/syntax that confuses me, but non-cash items do not show up in the cash flow statement when they are positive - so here it's really the actual cash they got from the deferred revenues.
Hi Simon, thanks you're right! I forgot about that as they didn't make a distinction between non-cash adjustments and working capital changes in the OCF - deferred revenues should fall under the latter category!
Thanks for the interesting article!
Just one question: "As for non-cash Q1 profit attributable to deferred revenues, it’s also clearly disclosed in their CFS — an incredibly measly $195M"
It might be a matter of wording/syntax that confuses me, but non-cash items do not show up in the cash flow statement when they are positive - so here it's really the actual cash they got from the deferred revenues.
Hi Simon, thanks you're right! I forgot about that as they didn't make a distinction between non-cash adjustments and working capital changes in the OCF - deferred revenues should fall under the latter category!
What does F/S DD mean?
Financial Statement Due Diligence, it's a play on Tesla's FSD (Full-Self Driving) software.