In its shareholder letter released after the bell, Tesla said it would end up spending $1 billion in 2014. It saw $2 million net cash flow from operations in Q2. And it now has $2.7 billion in cash reserves.
So during the call, Deutsche Bank's Rod Lache asked about the trajectory of Tesla's spending and costs beyond this year.
CFO Deepak Ahuja first responded by saying that as Tesla's projected near tripling of deliveries by the end of 2015 unfolds, operating expenses as a percentage of revenues would improve.
Then Musk jumped in:
Yeah. In the past...we've shown all of our cards, so people have kind of gotten used to us showing all of our cards. We're not currently showing all our cards.
"OK, all right. Well, thank you," Roche responded, according to SeekingAlpha's transcript.
A few minutes later, Goldman Sachs' Patrick Archambault asked specifically about research and development spending in the shorter-term. Once again, Ahuja replied first, explaining the company was spending on "many exciting things," and referenced the Model X electric crossover utility vehicle.