In the letter, Elon stated they have burned through over $200m/month this year after the cost reductions from last year and January and again in March. (That's net $200m lost each month, not $200m spent each month.)
They raised $2.4 billion a few weeks ago, about half of which must go toward servicing existing debt, and had about $900m in the bank before the offering, leaving them about $2.1billion in cash.
Or in other words, 10 months of cash based on the trend established by the first 3 months of the year if they do not either cut losses, dramatically increase sales, or both.
Context matters, as does reading comprehension. $200m/month = $600m/quarter...after 3 rounds of expense cutting.
That's $200m/month in net losses during a purely operational stage. It doesn't even include the costs of a planned Model Y launch or self-driving network.
The drop in S/X deliveries from the updates to their production lines, discontinuation of the 75kWh pack, and the pull-forward from Q4 of last year due to the reduction in the US tax credit also reduced profits by ~$300-400 million.
Like I said, a single data point doesn't make a trend.
They raised $2.4 billion a few weeks ago, about half of which must go toward servicing existing debt, and had about $900m in the bank before the offering, leaving them about $2.1billion in cash.
Or in other words, 10 months of cash based on the trend established by the first 3 months of the year if they do not either cut losses, dramatically increase sales, or both.