Tesla announced its first quarter 2022 financial report, which once again set a new record in terms of revenue, car delivery, operating profit and operating margin of more than 19%.
In the first quarter of 2022, Tesla's operating cash flow (free cash flow) after capital expenditures was $2.2 billion, and total debt, excluding financing for automotive and energy products, fell to less than $100 million. GAAP operating profit was $3.6 billion at an operating margin of 19.2% for the first quarter; GAAP net profit for the first quarter was $3.3 billion, non-GAAP net profit (excluding share-based expenses) was $3.7 billion; and GAAP Automotive gross margin was 32.9% in the first quarter.
It is worth noting that as of the end of the first quarter, Tesla's outstanding recoverable debt has fallen below $100 million; production and delivery work at the Berlin and Texas Gigafactories has officially started in March/April 2022.