> Deferred revenue activity related to the access to our Supercharger network, internet connectivity, Full Self Driving (“FSD”) features and over-the-air software updates on automotive sales with and without resale value guarantee amounted to $2.00 billion and $1.93 billion as of March 31, 2021 and December 31, 2020, respectively.
> Deferred revenue is equivalent to the total transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, as of the balance sheet date. Revenue recognized from the deferred revenue balance as of December 31, 2020 and 2019 was $79 million and $57 million for the three months ended March 31, 2021 and 2020, respectively. Of the total deferred revenue on automotive sales with and without resale value guarantees as of March 31, 2021, we expect to recognize $1.21 billion of revenue in the next 12 months. The remaining balance will be recognized over the performance period which is generally the expected ownership life of the vehicle or the eight-year life of the vehicle.
Oh well. The lawsuits will be interesting to watch. I'm sorry for the people who have been fooled into purchasing FSD.
IMO they have less than 50% chance that they will actually get a car that drives itself without babysitting before 2025.
Edit. I've found it: https://seekingalpha.com/filing/5494291
> Deferred revenue activity related to the access to our Supercharger network, internet connectivity, Full Self Driving (“FSD”) features and over-the-air software updates on automotive sales with and without resale value guarantee amounted to $2.00 billion and $1.93 billion as of March 31, 2021 and December 31, 2020, respectively.
> Deferred revenue is equivalent to the total transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, as of the balance sheet date. Revenue recognized from the deferred revenue balance as of December 31, 2020 and 2019 was $79 million and $57 million for the three months ended March 31, 2021 and 2020, respectively. Of the total deferred revenue on automotive sales with and without resale value guarantees as of March 31, 2021, we expect to recognize $1.21 billion of revenue in the next 12 months. The remaining balance will be recognized over the performance period which is generally the expected ownership life of the vehicle or the eight-year life of the vehicle.
Oh well. The lawsuits will be interesting to watch. I'm sorry for the people who have been fooled into purchasing FSD.
IMO they have less than 50% chance that they will actually get a car that drives itself without babysitting before 2025.