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Mullen Automotive
(NASDAQ:MULN)
Mullen Automotive (MULN) vs. SPDR S&P 500 ETF (SPY)
Mullen Automotive Business Overview & Revenue Model
Mullen Automotive Financial Statement Overview
| Breakdown | |||||
| TTM | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | Sep 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 4.01M | 1.09M | 366.00K | 0.00 | 65.71M | 65.00M | Gross Profit |
| -19.47M | -15.80M | 92.12K | -3.72M | 64.48M | 6.10M | EBIT |
| -383.86M | -391.83M | -377.77M | -96.99M | -22.40M | -12.09M | EBITDA |
| -472.62M | -438.35M | -996.27M | -93.71M | -21.68M | -1.49M | Net Income Common Stockholders |
| -510.55M | -457.06M | -972.25M | -740.32M | -65.41M | -48.28M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.33M | 10.32M | 155.27M | 54.09M | 42.17K | 33.37K | Total Assets |
| 173.02M | 178.63M | 421.71M | 302.59M | 17.17M | 21.99M | Total Debt |
| 27.31M | 19.94M | 13.16M | 13.81M | 41.91M | 35.15M | Net Debt |
| 24.99M | 9.62M | -142.10M | -40.28M | 41.86M | 35.12M | Total Liabilities |
| 267.23M | 195.18M | 148.90M | 145.64M | 78.88M | 64.49M | Stockholders Equity |
| -103.07M | -28.56M | 208.95M | 58.70M | -61.71M | -42.50M |
| Cash Flow | Free Cash Flow | ||||
| -161.33M | -200.30M | -287.10M | -77.82M | -17.68M | -4.94M | Operating Cash Flow |
| -151.23M | -185.56M | -179.17M | -65.80M | -17.52M | -4.37M | Investing Cash Flow |
| -11.50M | -16.15M | -107.92M | -47.15M | -161.78K | -567.01K | Financing Cash Flow |
| 76.54M | 56.76M | 358.42M | 197.28M | 17.69M | 2.75M |
Mullen Automotive Technical Analysis
Mullen Automotive Risk Analysis
Mullen Automotive Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $6.90B | 11.05 | 2.80% | 4.27% | 2.67% | -24.92% | |
45 Neutral | $167.91M | ― | -186.28% | ― | 8.52% | 98.75% | |
45 Neutral | $23.02M | ― | -220.85% | ― | ― | ― | |
44 Neutral | $2.58M | ― | -3842.15% | ― | 2136.62% | 99.30% | |
38 Underperform | $10.19M | ― | -86.66% | ― | ― | -447.71% | |
38 Underperform | $10.74M | 0.77 | ― | ― | ― |
Mullen Automotive Corporate Events
On June 5, 2025, Mullen Automotive completed the transfer of its Mishawaka manufacturing facility to GEM Yield Bahamas Limited and GEM Global Yield LLC SCS, as part of a settlement agreement resolving all legal disputes between the parties. This transfer, which satisfies a federal court judgment in GEM’s favor, allows Mullen to focus on its operational priorities and withdraws all pending legal proceedings, potentially impacting the company’s strategic focus and stakeholder relations.
On May 29, 2025, Mullen Automotive Inc. entered into two securities purchase agreements with investors to issue secured notes and warrants, raising approximately $14.4 million. This strategic move aims to strengthen the company’s financial position and provide investment rights to purchase additional notes and warrants, potentially impacting its market dynamics and stakeholder interests.
Mullen Automotive Inc. announced a 1-for-100 reverse stock split of its common stock, effective June 2, 2025, to comply with Nasdaq’s $1.00 minimum bid price requirement. This move reduces the number of outstanding shares from approximately 80 million to 800,000, without altering the par value or authorized number of shares. The reverse stock split is intended to maintain the company’s Nasdaq listing, and the stock will continue trading under the symbol ‘MULN’ with a new CUSIP number. The adjustment affects all stockholders uniformly, with no fractional shares issued, and is managed by Continental Stock Transfer & Trust Company.
On May 28, 2025, Mullen Automotive Inc. entered into a Settlement Agreement with Robert Bollinger and the receiver for Bollinger Motors, resolving a lawsuit related to a $10 million promissory note. As part of the agreement, Mullen increased its ownership of Bollinger Motors to 95% by acquiring additional shares and agreed to pay $11 million to settle the lawsuit. This strategic move not only extinguishes significant debt but also reinforces Mullen’s commitment to Bollinger’s future, allowing Bollinger to continue as a majority-owned subsidiary under Mullen’s financial backing. The acquisition is expected to enhance shareholder equity by approximately $3.5 million and enable Bollinger to ramp up its sales activities and streamline operations, particularly focusing on the development and production of the B4 platform.
On May 16, 2025, Mullen Automotive Inc. entered into a securities purchase agreement with an investor to raise approximately $1.6 million through 5% Original Issue Discount Secured Notes, which are convertible into common stock and accompanied by five-year warrants. The agreement allows the investor to purchase additional notes worth up to $4.7 million over the next year, while the company has committed to certain restrictions on issuing new equity or engaging in fundamental transactions during a specified period. Additionally, on May 21, 2025, the company’s stockholders approved an amendment to increase the shares available under its 2022 Equity Incentive Plan by 15 million shares, reflecting a strategic move to enhance its equity structure and support future growth initiatives.
On May 9, 2025, Mullen Automotive Inc. entered into a Settlement Agreement with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS. The agreement includes a 55-day due diligence period for GEM to evaluate the transfer of Mishawaka assets, suspending all collection activities related to the judgement during this period.
Mullen Automotive announced a 1-for-100 reverse stock split of its common stock, effective April 11, 2025, to comply with Nasdaq’s minimum bid price requirement. The reverse split reduced the number of outstanding shares from approximately 238.7 million to 2.4 million, while maintaining the same trading symbol and adjusting the CUSIP number. This move aims to stabilize the company’s stock price and maintain its Nasdaq listing.
On March 14, 2025, Mullen Automotive Inc. terminated its Purchase Agreement with Volt Mobility Holding Ltd., which was initially established on August 23, 2024, and later amended on November 4, 2024. This agreement involved the exclusive distribution of Mullen’s commercial EVs in the United Arab Emirates at preferred wholesale pricing, impacting the company’s strategic operations in the region.
On March 13, 2025, Mullen Automotive held its Annual Meeting of Stockholders, where key amendments to the 2022 Equity Incentive Plan were approved. These amendments included an increase in the number of shares available for awards and an automatic annual increase in shares, which could enhance the company’s ability to attract and retain talent. Additionally, amendments to the CEO Performance Stock Award Agreements were approved, extending deadlines for achieving specific milestones related to capital, vehicle completion, revenue, battery development, and joint ventures. These changes are likely to impact the company’s strategic goals and operational focus, potentially benefiting stakeholders by aligning executive incentives with company performance.