PALO ALTO, Calif. (AP) — Tesla burned through $739.5 million in cash last quarter as it geared up a factory to crank out more electric cars, leading to a $717.5 million net loss.

The company says it lost $4.22 per share as revenue grew 43 percent to just over $4 billion from April through June.

Adjusted for stock-based compensation, the company lost $3.06 per share. That was worse than Wall Street estimates. Analysts polled by FactSet expected a $2.88 loss per share.

The net loss more than doubled from the same quarter a year ago.

Tesla spent millions as it reached a goal of producing 5,000 Model 3 sedans per week by the end of June. Cash from Model 3 sales is key to holding off more borrowing. CEO Elon Musk has promised a net profit in the third and fourth quarters.