Dragonfly Energy Holdings Corp
NASDAQ:DFLI
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Dragonfly Energy Holdings Corp
Dragonfly Energy Holdings Corp. is a supplier of deep cycle lithium-ion batteries. The company is headquartered in Reno, Nevada. The company went IPO on 2021-08-13. The firm is focused on delivering an energy storage solution to enable a sustainable and reliable smart grid through the deployment of its cell technology. The Company’s non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries across a wide range of end-markets, including RVs, marine vessels, off-grid installations, and other storage applications. The Company’s products include 75 Ah 12V Group 24 LiFePO4 Battery, 50 Ah 12V Group 24 LiFePO4 Battery, 50 Ah 24V LiFePO4 Battery, 270 Ah 12V 8D LiFePO4 Battery, 100 Ah 12V GC2 Heated LiFePO4 Battery, 100 Ah 12V GC2 LiFePO4 Battery, 270 Ah 12V GC3 Heated LiFePO4 Battery, 270 Ah 12V GC3 LiFePO4 Battery, 100 Ah 12V Heated LiFePO4 Battery and 100 Ah 12V LiFePO4 Battery.
Dragonfly Energy Holdings Corp. is a supplier of deep cycle lithium-ion batteries. The company is headquartered in Reno, Nevada. The company went IPO on 2021-08-13. The firm is focused on delivering an energy storage solution to enable a sustainable and reliable smart grid through the deployment of its cell technology. The Company’s non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries across a wide range of end-markets, including RVs, marine vessels, off-grid installations, and other storage applications. The Company’s products include 75 Ah 12V Group 24 LiFePO4 Battery, 50 Ah 12V Group 24 LiFePO4 Battery, 50 Ah 24V LiFePO4 Battery, 270 Ah 12V 8D LiFePO4 Battery, 100 Ah 12V GC2 Heated LiFePO4 Battery, 100 Ah 12V GC2 LiFePO4 Battery, 270 Ah 12V GC3 Heated LiFePO4 Battery, 270 Ah 12V GC3 LiFePO4 Battery, 100 Ah 12V Heated LiFePO4 Battery and 100 Ah 12V LiFePO4 Battery.
Revenue Growth: Dragonfly Energy reported Q3 sales of $16.0 million, up 26% year-over-year, marking a return to strong growth.
Margin Expansion: Gross margin improved by more than 700 basis points to nearly 30%, driven by operational improvements and better product mix.
Balance Sheet Overhaul: The company raised $90 million in equity, restructured debt—including a $45 million prepayment, $25 million conversion to preferred equity, and $5 million forgiveness—reducing debt principal to $19 million with better terms.
OEM Momentum: Dragonfly expanded partnerships in the RV and trucking sectors, including wins with Airstream, Awaken RV, Ember RV, and progress with PACCAR.
Fourth Quarter Outlook: Q4 sales are expected to be about $13 million—up roughly 7% year-over-year but down sequentially—with adjusted EBITDA of approximately negative $3.3 million.
Profitability Path: Management remains confident about achieving profitability and expects significant growth in 2026, especially from the trucking segment.
Customer Sentiment: Debt restructuring is already improving customer confidence, leading to new purchase orders and shifting conversations to product value.
