Co. claims will be profitable in Q1 at mid-teens gross margin. This does not compute. $380Mn revs @ 15% GM = $57Mn of gross profit. But operating expenses are $115Mn per quarter. So clearly this is a loss of $0.50 per share.
Deliveries last Quarter = 2400, Deliveries Q1 expected = 4500. Revenue last Quarter = 306M. Revenue Q1 expected is unknown (greater volume, but slightly less per vehicle). Operating expenses are dropping as they minimize ramping costs (overtime, parts volume prices, crazy costs like flying in parts to keep production going)
Financial guidance doesn't make sense if you don't want it to make sense.
all of the efficiency gains they/you are talking about are reflected in the 15% gross margin, not the overhead. Overhead for Tesla is mostly R&D + SGA. Tesla said they are reducing R&D (so much for model X and Gen 3 timelines) but increasing SGA