Mullen Automotive reports Q2 EPS ($19.39) vs. ($1,167.18) last year

Reports Q2 vehicle sales revenue of $33.34M. For the six months ended March 31, Mullen delivered 362 vehicles valued at $16.3M. “The company has deferred the revenue and accounts receivable recognition until invoices are paid and the return provision on the vehicles are nullified by the dealer’s sale of vehicle to the end user,” the company stated. CEO and chairman David Michery stated, “Our company continues to grow despite difficult market conditions and I am thankful to our team and the effort put forth in getting our EVs into the market and onto U.S. roads. We continue to drive forward and remain laser-focused on scaling our commercial EV business. Today, we announced an additional $150 million in capital commitments to support our commercial EV operations.”