Bollinger 2025 Q3 Earnings Sharp Net Loss Widening Despite Record Revenue Growth

Bollinger (BINI) reported its fiscal 2025 Q3 earnings on August 15, 2025. The results reflect a significant revenue jump but a continued net loss. The company’s performance highlights the challenges it faces in achieving profitability despite strong top-line growth.

Revenue
Bollinger reported a dramatic 626.1% increase in total revenue for 2025 Q3, reaching $473,686, compared to $65,235 in the same period in 2024. This impressive growth was driven entirely by revenue from the sale of vehicles, which accounted for the full $473,686 in total revenue for the quarter. The segment breakdown underscores the company’s current revenue model, with all earnings stemming from commercial EV sales.

Earnings/Net Income
While Bollinger reported a narrowing in its per-share loss from $95,987,912 in 2024 Q3 to just $11,231.39 per share in 2025 Q3—a 100% improvement—its net loss actually worsened. The company recorded a net loss of $131.77 million in 2025 Q3, a 43.8% increase from the $91.63 million loss in 2024 Q3. This indicates that while per-share losses improved, the overall scale of the loss expanded significantly. The performance suggests a mixed financial picture, with revenue rising sharply but profitability still elusive.

Post Earnings Price Action Review
The historical performance of buying Bollinger (BINI) shares on the day of its earnings report and holding for 30 days has been highly negative. Over the past three years, such a strategy has resulted in a cumulative return of -98.62%, far below the benchmark. This underperformance highlights the risks associated with short-term trading around Bollinger’s earnings announcements. The strategy also displayed a maximum drawdown of 0%, and a Sharpe ratio of -0.37, which further emphasizes the high risk and poor returns associated with this approach. These metrics suggest that using earnings releases as a basis for investment decisions may not be effective for Bollinger, especially given its volatile financial history.

CEO Commentary
David Michery, CEO and Chairman, emphasized the company's strategic shift to consolidate its commercial EV manufacturing under its own facilities in Tunica, Mississippi. This move is intended to enhance operational control, reduce costs, and improve efficiency. The recent name change to Bollinger Innovations, Inc., the acquisition of an additional 21% stake in Bollinger Motors (now 95% owned), and the integration of commercial EV brands are part of a broader strategy aimed at streamlining operations and positioning the company for future growth. Michery highlighted a balanced and forward-looking approach, with a focus on cost reduction and leveraging incentives to improve affordability and sales.

Guidance
The company did not provide explicit quantitative financial guidance for future periods. However, it outlined strategic actions including the relocation of manufacturing, pricing adjustments for Class 1 and Class 3 vehicles, and the use of cryptocurrency for vehicle purchases. Forward-looking initiatives include cost reduction, operational control, and leveraging state and federal incentives to improve commercial EV affordability and sales.

Additional News
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