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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 65,000 | 95.7% |
Gross Profit | 29,000 | 46.9% |
Cost of Revenue | 36,000 | 167.9% |
Operating expense | 70M | 64.9% |
Net Income | -87M | 34% |
EBITDA | -76M | 39.2% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 192M | 10.2% |
Total Liabilities | 139M | 44.1% |
Total Equity | 35M | 63.3% |
Shares Outstanding | 16M | 101.4% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | 16M | 133.4% |
Cash from financing | 12M | 351.7% |
EPS
Financial Highlights for Mullen Automotive in Q2 '24
Mullen Automotive reported a revenue of 65,000, which is a 95.7% 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 29,000, marking a 46.9% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 36,000, a 167.9% 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 70M, showing a -64.9% 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 -87M, showing a 34% 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 -76M, showing a 39.2% 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.
It was a positive quarter for Mullen Automotive with growth in revenue, gross profit, and net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures.