Mullen Automotive reports Q1 FY2023 net loss of $376.9M, cash over $100M

BOLLINGER INNOVATIONS, INC.

2023-Q1 EPS reported -$0.28

Net loss of $376.9M for quarter ended Dec 31, 2022; net loss per share $0.28, compared to $8.93 loss per share in prior year (due to share increase).
Cash and cash equivalents including restricted cash $107.4M at Dec 31, 2022; additional $90M committed capital expected by April 2023.
Completed $105M all-cash purchase of ELMS assets in Nov 2022, including manufacturing facility in Mishawaka, Indiana.
Received purchase order from Randy Marion Automotive Group for 6,000 Class 1 EV cargo vans valued at approximately $200M.
Shareholders approved increase in authorized common shares from 1.75B to 5B and reverse stock split authority (not yet enacted).

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 0.95

BOLLINGER INNOVATIONS, INC. reported financial results for the quarter ended December 31, 2022.

Period: the quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On February 14, 2023, Mullen Automotive Inc. (the "Company") issued a press release announcing financial results for the quarter ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. reported preliminary financial results for fiscal first quarter in 2023 ending December 31, 2022.

Period: fiscal first quarter in 2023 ending December 31, 2022
Result: preliminary results

Exact text from the filing

Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced a financial update for its fiscal first quarter in 2023 ending December 31, 2022.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-001284

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