Mullen Automotive Q2 revenue $5mln, net loss $47.1mln.

• Mullen reports $5M revenue for Q2 2025 • Q2 revenue outperforms all previous quarterly results • Revenue for six months ended March 31, 2025 is $7.9M • Net loss decreased to $47.1M • Cash spend reduced to $52.4M for six months ended March 31, 2025 • Company achieves strong digital data results • Q2 revenue outperforms previous quarterly results • Mullen's digital data drives revenue growth • Company's digital strategy pays off • Mullen's digital data fuels revenue success • Digital data drives Mullen's Q2 results

Mullen Automotive, Inc. (NASDAQ: MULN) has announced its financial results for the second quarter (Q2) and the six months ended March 31, 2025. The company reported a significant increase in revenue and a substantial decrease in net loss compared to the same period in 2024. The Q2 revenue of $5 million outperformed the previous quarterly results by more than 143 times [1].

For the six months ended March 31, 2025, Mullen recorded $7.9 million in revenue, marking a strong performance despite challenging market conditions. The company's net loss decreased to approximately $47.1 million, a substantial reduction from the $132.4 million reported in the same period last year. This improvement was driven by a significant reduction in cash spend, which decreased from $120.9 million to $52.4 million for the six months ended March 31, 2025 [1].

Mullen's digital data strategy has been a key driver of its recent revenue growth. The company's digital data efforts have contributed to increased sales and awareness, particularly in the commercial fleet verticals. Recent highlights include the addition of Mullen commercial EVs to National Auto Fleet Group's (NAFG) Sourcewell contract and approval for public sector government purchasing through NAFG's contract 091521-NAF [1].

The company's strategic initiatives, including partnerships with Enpower Greentech Inc. (EGI) for battery technology and Bollinger Motors for Class 4 commercial trucks, have also contributed to its financial performance. Bollinger Motors delivered a Bollinger B4 Class 4 electric vehicle to The Lower East Side (LES) Ecology Center and announced a strategic partnership with EO Charging to provide comprehensive electrification solutions for commercial fleet customers and dealers [1].

Despite these achievements, Mullen faces challenges, including the court-appointed receivership of Bollinger Motors, which was placed into receivership after the balance sheet date. The company is exploring various options to challenge and resolve this matter and has engaged litigation counsel [1].

Mullen's financial results reflect the company's commitment to reducing cash outflow and restructuring liabilities. The company intends to maintain its momentum in these areas to support its growth and long-term sustainability.

References:
[1] https://finance.yahoo.com/news/mullen-announces-quarterly-results-3-130000517.html