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Or "Tesla spent $38 million on extended R&D involving extensively field testing its first production models". Take your pick.


More accurately, for R&D they spent $48 million on a non-GAAP basis and $56 million on a GAAP basis. Non-GAAP wise Tesla made money in the quarter to the tune of $16M. Their new leasing program and paying back the Department of Energy loan early helped lower the GAAP revenue fairly substantially. Cash was even better--$26 million of positive free cash flow.


I would imagine that paying back their loans will be worth quite a bit in PR.




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