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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 1,000,000 | 1426.4% |
| Gross Profit | -16M | 54326.9% |
| Cost of Revenue | 17M | 46680.3% |
| Operating expense | 59M | 14.8% |
| Net Income | -176M | 101.3% |
| EBITDA | -196M | 157.4% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 179M | 7.1% |
| Total Liabilities | 195M | 40.1% |
| Shares Outstanding | 4.6M | 71.5% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -40M | 349.2% |
EPS
Financial Highlights for Mullen Automotive in Q3 '24
Mullen Automotive reported a revenue of 1,000,000, which is a 1426.4% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -16M, marking a -54326.9% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 17M, a 46680.3% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 59M, showing a -14.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -176M, showing a -101.3% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -196M, showing a -157.4% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Mullen Automotive faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures. A decline in EBITDA signals potential operational challenges or increased costs.
