Tesla, Inc.

NasdaqGS-TSLA

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Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	1,610	4,332	2,821	9,821	5,153	7,038
Net Income
Depreciation & Amortization	2,880	2,844	2,524	2,467	2,200	1,945
Depreciation, Amortization and Impairment
Stock Based Compensation	1,208	1,036	963	949	863	781
Stock-Based Compensation
Other Adjustments	225	253	69	-5,739	-210	378
Amortization of Debt Discounts
Amortization of Debt Discounts and Issuance Costs
Inventory and Purchase Commitments Write-Downs
Loss on Disposal of Property and Equipment
Foreign Currency Transaction Net Unrealized Gain
Foreign Currency Transaction Net Unrealized Income
Gain Related to SolarCity Acquisition
Loss Related to SolarCity Acquisition
Deferred Income Taxes
Digital Assets Gain, Net
Non-Cash Interest and Other Operating Activities
Digital Assets Gain, Net
Operating Cash Flow Related to Repayment of Discounted Convertible Senior Notes
Changes in Trade Receivables	601	-798	-285	-82	-504	-891
Change in Accounts Receivable
Changes in Inventories	-2,407	1,851	-914	921	-2,116	-4,273
Change in Inventory
Changes in Accounts Payable	1,333	3,339	249	56	2,549	6,623
Accounts Payable and Accrued Liabilities
Change in Accounts Payable, Accrued and Other Liabilities
Changes in Unearned Revenue	318	396	106	871	661	191
Change in Deferred Revenue
Customer Deposits
Changes in Other Operating Activities	-1,072	-2,184	-1,679	-1,586	-3,018	-3,414
Change in Operating Lease Vehicles
Change in Prepaid Expenses and Other Assets
Other Non-Current Assets
Resale Value Guarantee
Other Long-Term Liabilities
Cash from Operating Activities	4,696	11,069	3,854	7,678	5,578	8,378
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-3,886	-6,293	-5,049	-4,766	-4,133	-3,661
Purchases of Property and Equipment Excluding Finance Leases, Net of Sales
Purchases of Solar Energy Systems, Net of Sales
Purchases of Intangible Assets	—	—	—	—	—	—
Purchases of Digital Assets
Purchase of Intangible Assets
Proceeds from Sale of Intangible Assets	—	—	—	—	—	—
Proceeds from Sales of Digital Assets
Purchases of Investments	-13,500	-21,190	-14,765	-12,022	-7,090	-5,359
Purchases of Investments
Proceeds from Sale of Investments	12,791	17,005	11,505	7,210	5,281	22
Proceeds from Maturities of Investments
Proceeds from Sales of Investments
Payments for Business Acquisitions	—	—	—	12	-76	—
Business Combinations, Net of Cash Acquired
Other Investing Activities	—	—	—	—	—	76
Change in Restricted Cash
Receipt of Government Grants
Cash from Investing Activities	-4,595	-10,478	-8,309	-9,566	-6,018	-8,922
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Long-Term Debt	3,050	1,849	3,895	3,931	—	—
Proceeds from Issuances of Debt
Collateralized Lease Borrowings
Repayments of Long-Term Debt	-4,196	-1,453	-1,428	-1,050	-765	-1,396
Repayments of Debt
Repayments of Borrowings Issued to Related Parties
Collateralized Lease Repayments
Principal Payments on Finance Leases
Net Issuance / (Repayments) of Long-Term Debt	-1,146	396	2,467	2,881	-765	-1,396
Issuance of Common Shares	528	793	448	406	294	296
Proceeds from Issuances of Common Stock in Public Offerings, Net of Issuance Costs
Proceeds from Exercises of Stock Options and Other Stock Issuances
Proceeds from Issuance of Warrants
Net Issuance / (Repurchases) of Common Shares	528	793	448	406	294	296
Other Financing Activities	64	-72	-179	-137	-90	-107
Proceeds Received from Directors in Shareholder Settlement
Payment of Legal Fees Associated with Shareholder Settlement
Debt Issuance Costs
Purchase of Convertible Note Hedges
Proceeds from Settlement of Convertible Note Hedges
Payments for Settlements of Warrants
Proceeds from Investments by Noncontrolling Interests in Subsidiaries
Distributions Paid to Noncontrolling Interests in Subsidiaries
Payments for Buy-Outs of Noncontrolling Interests in Subsidiaries
Cash from Financing Activities	-554	1,117	2,736	3,150	-561	-1,207
Net Cash Provided by Financing Activities

Free Cash Flow	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Free Cash Flow	810	4,776	-1,195	2,912	1,445	4,717
NOPAT	995.5	3,504.7	2,130.9	8,875.1	4,547.6	7,010.3
Levered Free Cash Flow	-2,399	4,650	494	10,625	594	2,994
Unlevered Free Cash Flow	-1,838.5	3,457.7	-2,632.1	6,838.1	690.6	4,421.3
Net Change in Cash	-453	1,708	-1,719	1,262	-1,001	-1,751