These results pre-date the now famous NYTimes test drive.
“The electric-car maker reported a fourth-quarter non-GAAP net loss of 65 cents per share on revenue of $306.3 million. A year earlier, the company lost 69 cents per share on just $39 million in sales.”
The only way electric cars will ever be accepted by the general public is when they can recharge batteries as fast as filling up an ICE car with gasoline.
What is lost per unit is made up for in volume. Yeah, right!!!!!!!!
GAAP = Generally Accepted Accounting Principles. In other words, ‘we fudged the numbers in a way nobody else would and it still looks bad’.
Non-GAAP ?!?! Reporting non-GAAP is a red flag. Are the GAAP numbers worse?