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BINI

Bollinger Innovations, Inc.

BINI

Bollinger Innovations, Inc. • NASDAQ
$0.11 ▲ 0.00% (+0.00)
Market Cap $55337
52w High $412500000.00
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 7.97K
Outstanding Shares 503.07K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $473.686K ▼ $48.087M ▼ $-129.725M ▼ -27.386K% ▼ $-11.231K ▲ $-103.073M ▼
Q2-2025 $4.95M ▲ $63.743M ▲ $-47.076M ▲ -951.001% ▲ $-12.231M ▲ $-41.58M ▲
Q1-2025 $2.92M ▲ $47.767M ▼ $-114.889M ▲ -3.934K% ▲ $-114.913M ▲ $-95.386M ▲
Q4-2024 $995.752K ▲ $77.434M ▲ $-175.871M ▼ -17.662K% ▲ $-5.935B ▼ $-134.043M ▼
Q3-2024 $65.235K $61.8M $-87.361M -133.917K% $-7.91 $-79.892M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $454.658K ▼ $89.229M ▼ $196.283M ▼ $-107.905M ▼
Q2-2025 $1.405M ▼ $150.089M ▼ $219.63M ▼ $-72.955M ▲
Q1-2025 $2.325M ▼ $173.017M ▼ $267.226M ▲ $-103.075M ▼
Q4-2024 $10.322M ▲ $178.631M ▼ $195.177M ▲ $-28.556M ▼
Q3-2024 $3.549M $192.33M $139.335M $34.936M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-131.768M ▼ $-20.82M ▲ $-378.828K ▲ $19.73M ▼ $-1.469M ▼ $-21.199M ▲
Q2-2025 $-53.881M ▲ $-23.023M ▲ $-1.64M ▲ $24.24M ▲ $-423.182K ▲ $-24.663M ▲
Q1-2025 $-118.798M ▲ $-25.564M ▲ $-2.221M ▼ $19.78M ▼ $-8.005M ▼ $-27.785M ▲
Q4-2024 $-178.842M ▼ $-40.373M ▼ $-2.094M ▼ $49.252M ▲ $6.785M ▲ $-41.067M ▼
Q3-2024 $-87.361M $-36.71M $-1.584M $12.45M $-25.844M $-38.294M

Revenue by Products

Product Q4-2020Q1-2021Q2-2021Q3-2021
Service Fees
Service Fees
 $20.00M ▲$70.00M ▲$20.00M ▼$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Bollinger Innovations looks like a classic pre‑revenue auto startup: almost no meaningful sales, but sizable ongoing expenses. The company has yet to turn its engineering work into real, recurring revenue. Operating losses have been steady to worsening over the past several years, and bottom‑line results are deeply negative. The extreme swings in earnings per share are mostly a by‑product of repeated reverse stock splits rather than a sudden change in the underlying business. Overall, the income statement shows a company still in the build‑out phase, carrying the cost structure of an automaker but without the offsetting scale or sales volume yet in place.

Balance Sheet

Balance Sheet The balance sheet is very thin for a vehicle manufacturer. Total assets are small, cash is limited, and the company has only a modest amount of debt in absolute terms—but that must be viewed in the context of its tiny asset base and lack of revenue. Shareholders’ equity has slipped into negative territory again, which means accumulated losses now outweigh the company’s recorded assets. This signals balance‑sheet strain and a very narrow margin for error. The long string of reverse stock splits also suggests repeated efforts to shore up the share price and raise capital over time.

Cash Flow

Cash Flow Cash flows reflect a business that is consuming cash rather than generating it. Operating activities have consistently used cash, showing that day‑to‑day operations, development, and overhead are not being covered by income. Investment in equipment and development has added further pressure, keeping free cash flow clearly negative. This pattern is normal for an early‑stage manufacturer for a while, but Bollinger has remained in this cash‑burn mode for several years with little revenue to show, which heightens the need for ongoing external funding.

Competitive Edge

Competitive Edge Strategically, Bollinger chose a focused niche: electric commercial trucks in the mid‑weight range, instead of fighting directly in the crowded consumer pickup and SUV market. Its purpose‑built electric chassis, emphasis on durability, and upfitter‑friendly design are genuine differentiators for fleet customers. However, the company is tiny compared with established truck makers and better‑funded EV peers, and the commercial EV space is attracting more competition every year. Financial distress—reports of missed payrolls and uncertainty about continued operations—undermines its ability to win large fleet contracts, support customers over time, and fully capitalize on its early mover position.

Innovation and R&D

Innovation and R&D Innovation is Bollinger’s clear strength. The company has developed a dedicated electric truck platform, modular battery concepts, rugged work‑first designs, and clever cargo solutions like full‑length passthroughs and flexible chassis cabs. Its shift from flashy consumer models to practical commercial vehicles shows a willingness to pivot and focus. Patents around its chassis and systems suggest some defensible know‑how. The risk is that financial strain may starve this innovation engine: cutting back on engineering, delaying testing, or slowing certification and production. Without enough capital to bring products like the B4 to scale, the value of this R&D could remain largely unrealized or end up more useful to a partner or acquirer than to Bollinger as a stand‑alone business.

Summary

Bollinger Innovations sits at a difficult crossroads. On paper, it has many of the ingredients of a promising commercial EV specialist: a focused niche, distinctive engineering, and products tailored to fleet needs. In practice, its financials tell the story of a company that has spent years burning cash with almost no revenue, a very slim balance sheet, and repeated share consolidations. The main question is no longer about technology, but about survival and execution—whether the company can secure enough funding, ramp production, and win durable commercial relationships before competitors crowd in further or liquidity runs out. Any view on BINI hinges on how one weighs the quality of its innovation against the severity of its financial and operational risks.

NEWS

October 10, 2025 · 12:33 PM UTC

Activist Investor Takes 9.99% Stake in Bollinger Innovations, Inc. Asks CEO to Maintain Nasdaq Listing, Seeks 50% of Shares and Board Control Via Tender Offer at 55% Premium Now or to Seek Board Seat; and to Propose Dividend, Bring New Funding Source Stra

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October 9, 2025 · 5:00 PM UTC

Bollinger Innovations Announces Move to OTC Markets Effective Monday, Oct. 13, 2025

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October 2, 2025 · 8:45 AM UTC

Bollinger Innovations Signs Agreement with Ariel Fleet Holdings to Provide FedEx ISPs, Advanced Logistics Systems and Springbok Holdings with 34 Commercial EVs for Last Mile Deliveries

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September 18, 2025 · 8:55 AM UTC

Bollinger Innovations, Inc. Announces Reverse Stock Split Effective Sept. 22, 2025

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September 15, 2025 · 8:45 AM UTC

Bollinger Innovations Takes Further Cost Cutting Actions Resulting in Reducing Its Quarterly Cash Burn from $21.2M to $8.9M; a 58% Quarterly Decrease

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