To kick off the first quarter of 2011, electric vehicle maker Tesla (s TSLA) reported revenues and gross margins that were substantially higher than previous quarters. But given the company won’t be making a profit until well after its second electric car the Model S comes out, Tesla is still losing money every quarter.
Tesla reported record Q1 2011 revenues of $49.03 million, more than double its Q1 2010 revenues of $20.81 million. Gross margin for the quarter also hit a record 37 percent, up from 31 percent for Q4 2010.
At the same time, Tesla’s Q1 2011 net loss rose to $48.94 million, which was a lot bigger loss than its Q1 2010 loss of $29.52 million. Tesla is in an investment and growth period as it looks to launch its Model S electric sedan in 2012.
Tesla’s stock at one point rose up to $29 in after hour trading, but looks to be dropping back down. Tesla debuted on the Nasdaq in June 2010, at an offering price of $17, and ended its first day of trading up 40.5 percent to $23.89. It’s traded around there, and up to $33 back in November.
Here’s our three videos of Tesla’s Roadster Sport, the Model S Alpha and the new Apple-inspired store: