Q4 2022 was another record breaking quarter for EV manufacturer Tesla as well as the whole year. In the last quarter, the company achieved the highest-ever quarterly revenue, operating income and net income in history.

In 2022, total revenue grew 51% yoy to $81.5 billion and net income (GAAP) more than doubled year over year to $12.6 billion.

In the fourth quarter, total revenue grew 37% to $24.3B with a gross margin of 23.8% impacted by growth in vehicle deliveries, increase in average selling price and other parts of the business.

Net income came at $3.68B (+59%) and earnings per share was $1.07, a 57% increase, impacted by a negative headwind from FX of $1.4B.

Operating income improved year over year to $3.9B in Q4, resulting in a 16% operating margin. Quarter ended cash increased to $22.2B driven mainly by free cash flow of $1.4B partially offset by debt repayments of almost $500M.

In 2022, Tesla produced 1.37M vehicles and delivered 1.31M vehicles (+40%). The company did not issue new guidance, but reiterated in its earnings release that is planning to grow production as quickly as possible with the 50% CAGR (Compound annual growth rate) target began in early 2021 and deliver around 1.8M cars by the end of 2023.