0/ Now that things are a bit quiet, it is time for the comprehensive charting of $TSLA's Q1 results. Note that I've limited things to the last five quarters, because these include the full impact of SolarCity. Before beginning, please read my disclosures... 
1/ First up, total revenue. Continued solid growth. YOY growth was 26% $TSLA
2/ Total company gross margin surprised some bears to the upside. Still declined 32% YOY however, despite the revenue growth. Total gross margin % fell from 24.8% to 13.4%. And I'm not going to argue about their gross margin methodology. $TSLA
3/ Automotive revenue growth was a little more subdued, up only 19% YOY. And I'm ignoring the impact of the lease accounting change. $TSLA
4/ Automotive gross profit surprised bears. Most figured Model 3 would cause deeper negative impact. My best guess? The decline in Model S/X deliveries allowed them to sell the highest margin variants. Plus Q4 had substantial S/X inventory sales, presumably at low margin. $TSLA
5/ They sold $50MM in ZEV credits in the quarter. Again more than most thought, especially after the blowout sale in Q4. $TSLA
6/ They showed impressive revenue growth in the Energy Generation and Storage segment, helped by the Australia battery project. Nearly double the revenue of Q1 2017. $TSLA
7/ But in classic $TSLA style, they doubled the Energy Generation and Storage segment revenue but yet gross profit dollars FELL BY HALF year over year. You can't make this stuff up.
8/ Services and Other is my favorite $TSLA segment. Here is the revenue look...
9/ The bro who runs that segment needs a real talking to... $TSLA
10/ Operating expenses continue to grow, albeit at a slower pace. Still, there's no cost savings urgency in these $TSLA numbers...
11/ Interest expense continue to tick higher, and $TSLA management has guided for $160MM in Q2
12/ Interest as a % of gross profit is still worryingly high. When bears talk solvency, it is charts like this that form the basis of the discussion. $TSLA
13/ Add it all up and you get profoundly negative EBITDA for $TSLA
14/ And continued epic net losses (Note I show $TSLA total net loss, not just applicable to shareholders. A loss is a loss bro, somebody is eating it.)
15/ If you don't raise much money and you burn cash, your cash balance shrinks $TSLA
16/ Customer deposits are now up to 37% of cash. This is unprecedented. Period. $TSLA
17/ Net working capital continues to deteriorate dramatically. Due mostly to debts coming current. $TSLA
18/ Leading to a stunning Quick Ratio of only 0.38. This has to worry bond holders. $TSLA
19/ Cash flow from operations got back on trend $TSLA
20/ Despite generous use of stock to compensate employees. This is dilution bros. Stealth dilution, but dilution nonetheless. $TSLA
21/ If you are going to keep growing in a capital intense business, you need to invest capital. $TSLA is slowing capital investment in the past two quarters.
22/ And they haven't raised a significant sum in a while. Why not? Only He knows. $TSLA
23/ A hat tip to Donn Bailey at Seeking Alpha for being the first to notice the bizarre trend in Model S and X global deliveries. With all the variance in production and global demand trends, these are amazingly synchronized. I can't explain it. $TSLA
24/ Finally the R2 look at the data from Chart 23. Again, I have no explanation - other than strange coincidence. The data does catch your eye though. Trade carefully bros. $TSLA
Model S is blue Model X is grey. Forgot the damn labels. Lol
