Mullen reports net loss of $235.4M for H1 FY2024; cash burn $120.9M, impairments $105.5M

BOLLINGER INNOVATIONS, INC.

Net loss $235.4M for six months ended Mar 31, 2024; includes $105.5M impairment charges (goodwill, intangibles, ROU assets).
Revenue recognized only $33K on 362 vehicles invoiced at $16.3M; cash received $0.7M.
Cash & restricted cash $29.8M at Mar 31 vs $155.7M at Sept 30; stockholders' equity $117.4M.
Additional $150M in capital commitments announced to support commercial EV operations.
Operational progress: CARB HVIP approval for Mullen THREE, Bollinger 40-truck order ($6M), solid-state battery 86% range increase.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. reported financial results for three and six months ended March 31, 2024.

Period: three and six months ended March 31, 2024
Result: reported results

Exact text from the filing

On May 14, 2024, Mullen Automotive Inc. issued a press release announcing financial results for the three and six months ended March 31, 2024.

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BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-016563

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