Mullen Automotive Inc. announced record GAAP revenue of $3.18 million as of March 21, 2025, for its fiscal Q2, which ends March 31, 2025. This quarterly revenue to date represents a 189% increase when compared to the $1.1 million of GAAP revenue for all of 2024.
The company also initiated additional staff reductions and further elimination of property leases, planned to take effect in April 2025. These measures are part of a continued focus on reducing the operating expense burn rate and consolidating business operations.
Mullen continues to adapt its verticals based on market needs to remain competitive in an evolving economy. The company's ongoing focus is on selling vehicles and advancing its battery technologies, with this record revenue demonstrating solid sales growth opportunity for both Mullen and Bollinger commercial vehicles.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.