Tesla Motors held its quarterly conference call yesterday for its fourth-quarter and 2015 full-year financial results, and some of the numbers weren't great, but the company said it's on track to be cash-flow positive this year.
Tesla's cash reserves dropped to US$1.2 billion as of December 31 from US$1.9 billion a year earlier, despite a sale of shares last summer. The company's cash burn has become a concern for some analysts, given the heavy capital spending it has mapped out.
The slower-than-planned launch of Model X of the company sport utility vehicle during the last quarter added $67 million in unplanned costs, Tesla said.
Excluding items, adjusted loss for the quarter was $0.87 per share, compared to earnings of $0.13 per share reported a year ago.
In his tweets, Musk said consumers could begin pre-orders next month with a $1,000 deposit.
Waiting to earn money, Tesla continued to dig its losses in the fourth quarter to 320.4 million dollars against 107.6 million in the fourth quarter of 2014.
Tesla Model S thermal management screen Enlarge
Additionally, revenue rose to $1.21 billion, a 27 percent increase.
Tesla also said it expects to ship 80,000 to 90,000 Model S and Model X cars in 2016, beating forecasts that the company would only ship about 76,000.
Still the stock spiked up on positive comments from the company's CEO Elon Musk.
Revenue: The Palo Alto company is expected to post fourth-quarter revenue of $1.85 billion, a 69% jump from $1.1 billion a year earlier, according to analysts' estimates. "It is a smaller auto, and without as many bells and whistles as the Model S or X. But the goal is to have a very compelling, affordable, mass market electric vehicle and I feel pretty good about that goal".