Mullen Q3 net loss $308.9M; first revenue $308k; $25M buyback, 1-for-9 reverse split

BOLLINGER INNOVATIONS, INC.

2023-Q3 EPS reported -$55.44 revenue$308,000

Net loss attributable to common stockholders after preferred dividends of $308.9M ($11.14/sh) for Q3; $792.7M ($55.44/sh) for nine months.
First revenue of $308k from Campus EV Cargo Van sales; cost of sales $248.7k; gross margin $59.3k.
Cash and equivalents $214M as of June 30; secured $100M Series D funding; stockholders' equity $351.8M (+124% YoY).
Board authorized $25M stock buyback through Dec 31, 2023; completed 1-for-9 reverse stock split on Aug 11 to meet Nasdaq minimum bid.
Received $263M purchase orders for Class 1/Class 3 vehicles; production launch event Aug 24; terminated solid-state battery JV with EVT for breach.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. reported financial results for fiscal third quarter for the three and nine months ended June 30, 2023.

Period: fiscal third quarter for the three and nine months ended June 30, 2023
Result: reported results

Exact text from the filing

Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced financial results for its fiscal third quarter for the three and nine months ended June 30, 2023.

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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 0001558370-23-014724

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