beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

beatandraise.com

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Automotive	$ 5,589,007	$ 3,431,587	$ 2,874,448
Automotive leasing	761,759	309,386	132,564
Total automotive revenue	6,350,766	3,740,973	3,007,012
Energy generation and storage	181,394	14,477	4,208
Services and other	467,972	290,575	187,136
Total revenues	7,000,132	4,046,025	3,198,356
Cost of revenues
Automotive	4,268,087	2,639,926	2,058,344
Automotive leasing	481,994	183,376	87,405
Total automotive cost of revenues	4,750,081	2,823,302	2,145,749
Energy generation and storage	178,332	12,287	4,005
Services and other	472,462	286,933	166,931
Total cost of revenues	5,400,875	3,122,522	2,316,685
Gross profit	1,599,257	923,503	881,671
Operating expenses
Research and development	834,408	717,900	464,700
Selling, general and administrative	1,432,189	922,232	603,660
Total operating expenses	2,266,597	1,640,132	1,068,360
Loss from operations	(667,340)	(716,629)	(186,689)
Interest income	8,530	1,508	1,126
Interest expense	(198,810)	(118,851)	(100,886)
Other income (expense), net	111,272	(41,652)	1,813
Loss before income taxes	(746,348)	(875,624)	(284,636)
Provision for income taxes	26,698	13,039	9,404
Net loss	(773,046)	(888,663)	(294,040)
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(98,132)
Net loss attributable to common stockholders	$ (674,914)	$ (888,663)	$ (294,040)
Net loss per share of common stock attributable to common stockholders, basic and diluted	$ (4.68)	$ (6.93)	$ (2.36)
Weighted average shares used in computing net loss per share of common stock, basic and diluted	144,212	128,202	124,539

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Flows From Operating Activities
Net loss	$ (773,046)	$ (888,663)	$ (294,040)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	947,099	422,590	231,931
Stock-based compensation	334,225	197,999	156,496
Amortization of discount on convertible debt	87,286	72,063	69,734
Inventory write-downs	65,520	44,940	15,609
Loss on disposal of property and equipment	34,633	37,723	14,178
Foreign currency transaction (gain) loss	(29,183)	55,765	(1,891)
Gain on the acquisition of SolarCity	(88,727)
Non-cash interest and other operating activities	(7,775)	26,373	7,471
Changes in operating assets and liabilities, net of effect of business combinations
Accounts receivable	(216,565)	46,267	(183,658)
Inventories and operating lease vehicles	(2,465,703)	(1,573,860)	(1,050,264)
Prepaid expenses and other current assets	56,806	(29,595)	(60,637)
MyPower notes receivable	3,468
Other assets	(52,821)	(24,362)	(4,493)
Accounts payable and accrued liabilities	750,640	263,345	414,856
Deferred revenue	382,962	322,203	209,681
Customer deposits	388,361	36,721	106,230
Resale value guarantee	326,934	442,295	249,492
Other long-term liabilities	132,057	23,697	61,968
Net cash used in operating activities	(123,829)	(524,499)	(57,337)
Cash Flows From Investing Activities
Purchases of property and equipment excluding capital leases, net of sales	(1,280,802)	(1,634,850)	(969,885)
Purchase of solar energy system, leased to be leased	(159,669)
Purchases of short-term investments and marketable securities			(205,841)
Maturities of short-term marketable securities	16,667		189,131
Increase in other restricted cash	(206,149)	(26,441)	(3,849)
Cash acquired through (used in) business combinations	213,523	(12,260)
Net cash used in investing activities	(1,416,430)	(1,673,551)	(990,444)
Cash Flows From Financing Activities
Proceeds from issuance of common stock in public offering	1,701,734	730,000
Proceeds from issuance of convertible and other debt	2,852,964	318,972	2,300,000
Repayments of convertible and other debt	(1,857,594)
Collateralized lease borrowing	769,709	568,745	3,271
Proceeds from exercise of stock options and other stock issuances	163,817	106,611	100,455
Principal payments on capital leases	(46,889)	(203,780)	(11,179)
Common stock and debt issuance costs	(20,042)	(17,025)	(35,149)
Proceeds from issuance of warrants			389,160
Proceeds from issuance of common stock in private placement		20,000
Purchase of convertible note hedges			(603,428)
Proceeds from investment by noncontrolling interests in subsidiaries	201,527
Distributions paid to noncontrolling interests in subsidiaries	(21,250)
Net cash provided by financing activities	3,743,976	1,523,523	2,143,130
Effect of exchange rate changes on cash and cash equivalents	(7,409)	(34,278)	(35,525)
Net increase (decrease) in cash and cash equivalents	2,196,308	(708,805)	1,059,824
Cash and cash equivalents at beginning of year	1,196,908	1,905,713	845,889
Cash and cash equivalents at end of year	3,393,216	1,196,908	1,905,713
Supplemental noncash investing activities
Shares issued in connection of business combination and assumed vested awards	2,145,977
Acquisition of property and equipment included in accounts payable and accrued liabilities	663,771	267,334	254,393
Estimated fair value of facilities under build-to-suit lease	307,879	174,749	50,076
Supplemental Disclosures
Cash paid during the period for interest	38,693	32,060	20,539
Cash paid during the period for taxes, net of refunds	$ 16,385	$ 9,461	$ 3,120

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 3,393,216	$ 1,196,908
Restricted cash	105,519	22,628
Accounts receivable, net	499,142	168,965
Inventory	2,067,454	1,277,838
Prepaid expenses and other current assets	194,465	115,667
Total current assets	6,259,796	2,782,006
Operating lease net	3,134,080	1,791,403
Property, plant and equipment, net	5,982,957	3,403,334
Intangible assets, net	376,145	12,816
MyPower customer notes receivable, net of current portion	506,302
Restricted cash, net of current portion	268,165	31,522
Other assets	216,751	46,858
Total assets	22,664,076	8,067,939
Current liabilities
Accounts payable	1,860,341	916,148
Accrued liabilities and other	1,210,028	422,798
Deferred revenue	763,126	423,961
Resale value guarantees	179,504	136,831
Customer deposits	663,859	283,370
Current portion of long-term debt and capital leases	984,211	627,927
Total current liabilities	5,827,005	2,811,035
Long-term debt and capital leases, net of current portion	5,860,049	2,021,093
Convertible senior notes issued to related parties	10,287
Deferred revenue, net of current portion	851,790	446,105
Resale value guarantees, net of current portion	2,210,423	1,293,741
Other long-term liabilities	1,891,449	364,976
Total liabilities	16,750,167	6,936,950
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests in subsidiaries	367,039
Convertible senior notes (Notes 13)	8,784	47,285
Stockholders' equity:
Preferred stock; $0.001 par value; 100,000 shares authorized; no shares issued and outstanding
Common stock; $0.001 par value; 2,000,000 shares authorized as of December 31, 2016 and 2015; 161,561 and 131,425 shares issued and outstanding as of December 31, 2016 and 2015, respectively	161	131
Additional paid-in capital	7,773,727	3,409,452
Accumulated other comprehensive loss	(23,740)	(3,556)
Accumulated deficit	(2,997,237)	(2,322,323)
Total stockholders' equity	4,752,911	1,083,704
Noncontrolling interests in subsidiaries	785,175
Total liabilities and equity	22,664,076	$ 8,067,939
Solar Energy Systems [Member]
Current assets
Operating lease net	5,919,880
Solar Bonds [Member]
Current liabilities
Current portion of solar bonds issued to related parties	165,936
Solar bonds issued to related parties, net of current portion	$ 99,164