Mullen Automotive (MULN) Reports Revenue Increase, Reduction in Spending
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Mullen Announces Significant Revenue Increase and Reduction in Spending
October 2, 2024 9:10 AM EDTFor quarter ended Sept. 30, 2024, Company expects to report approximately $4.5 million in revenue compared to $65,235.00 reported in quarter ended June 30, 2024, an increase of 6791% compared to prior quarter
Mullen reported a monthly cash burn (operating and investing cashflows) of $12.8 million for the quarter ended June 30, 2024, as compared to a monthly cash burn of $18.1 million for the quarter ended March 31, 2024, representing a decrease of 30% or $5.3 million per month. Companys monthly cash burn for the quarter ended Sept. 30, 2024, is approximately $12.7 million per month
The Company plans to continue to improve its cash burn with operating... More
