Tesla's Self-Driving Software Is a Perpetual Revenue Letdown [BNN Bloomberg (Canada)]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: BNN Bloomberg
On Wednesday, Tesla released its 10-Q, a quarterly report that provides a more detailed view into the company's financial position. For several years running, Tesla has provided regular updates in these statements on how much revenue it's taken in from customers and not yet fully recognized. Some of this deferred revenue relates to a work-in-progress product: Full Self-Driving, or FSD, for short. Tesla's deferred automotive revenue amounted to $3.5 billion as of March 31, little changed from the end of last year. Of that amount, Tesla expects to recognize $848 million in the next 12 months — meaning much of the performance obligations tied to what it's been charging customers for FSD will remain unsatisfied a year from now. The company doesn't go into detail about how exactly performance is falling short, though the software's title is known to be a misnomer. FSD is a driver-assistance system that doesn't make the company's vehicles autonomous; it requires attentive drivers to ke
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