Tesla just released its financial report for Q2 2021 and the numbers are larger than anticipated — proving that it has what it takes to help accelerate society to energy sustainability — Tesla’s mission. We knew its second quarter was going to be pretty impressive, since it sold out of vehicles early in the quarter. But this is still a positive surprise.
Tesla noted that its total revenue reflected a 98% year-over-year growth in Q2, and credited the achievement to the growth in vehicle deliveries. Tesla’s operating income improved in Q2 to $1.3 billion, which resulted in an 11.0% operating margin.
The company noted that this profit level was reached while incurring SBC expense attributable to the 2018 CEO award of $176 million in Q2, which was driven by a new operational milestone becoming probable. Tesla stated that its operating income was increase year over year due to volume growth and cost reductions.
Tesla’s quarter-end cash and cash equivalents decreased to $16.2 billion in Q2. This was mostly due to net debt and finance lease repayments of $1.6 billion, partially offset by the free cash flow of $619 million. All in all, Tesla’s doing well and paying its debts while revolutionizing many industries.