Mullen Q1 net loss $61.4M, delivers 231 vehicles; cash burn $66.8M

BOLLINGER INNOVATIONS, INC.

2024-Q1 EPS reported -$15.32

Net loss attributable to common stockholders after preferred dividends was $61.4M ($15.32/share) vs $376.9M a year ago.
Delivered 231 vehicles in Q1 (valued $11.9M), but revenue recognition deferred until payments and return provisions expire.
Cash used in operating and investing activities totaled $66.8M; cash fell to $88.9M from $155.7M at Sept. 30, 2023.
Expects to close $32M loan in Feb. 2024; regained Nasdaq minimum bid price compliance in Jan. 2024.
Cash flow statement corrected for deferred taxes of $493,654 (2022 period); no change to reported Q1 2024 results.

item 2.02 item 7.01 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 the three months ended Dec. 31, 2023.

Period: the three months ended Dec. 31, 2023
Result: reported results

Exact text from the filing

On February 13, 2024, Mullen Automotive Inc. (the “Company”) issued a press release announcing financial results for the quarter ended December 31, 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 0001558370-24-001077

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