Dragonfly Energy Reports Third Quarter 2026 Results
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Dragonfly Energy (Nasdaq: DFLI) reported third-quarter 2026 net sales of $12.2 million, down 23.8% year over year and below guidance. OEM sales fell 33.3% and direct-to-consumer sales fell 4.7%. Gross margin declined to 27.0% from 29.7%. The loss attributable to common stockholders narrowed to $6.7 million, or $3.71 per diluted share, from $11.1 million, or $16.45 per share. Adjusted EBITDA, a supplemental earnings measure, was negative $2.3 million versus negative $2.1 million a year earlier.
Heavy-duty trucking revenue more than doubled sequentially to $1.3 million. Dragonfly completed its Dakota Lithium brand acquisition at the end of July. The company expects trucking revenue to nearly double sequentially in Q4 and guides to approximately $12.5 million in sales and approximately breakeven adjusted EBITDA, incorporating anticipated tariff-related refunds. Cash fell to $1.941 million from $18.270 million at year-end 2025.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Q4 2026 guidance calls for approximately $12.5 million sales and approximately breakeven adjusted EBITDA.
- Major pointCommon-stockholder loss narrowed to $6.707 million from $11.070 million year over year; diluted loss per share improved to $3.71 from $16.45.
- Moderate pointHeavy-duty trucking revenue of $1.3 million more than doubled sequentially in Q3 2026.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Q4 trucking revenue is expected to nearly double sequentially, based on the current order book.
- Moderate pointDakota Lithium brand acquisition completed at the end of July, expanding markets and the product portfolio.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Dakota inventory is expected toward Q4-end, with broader availability and more meaningful revenue contribution beginning Q1 2027.
- Moderate pointTotal liabilities declined to $49.448 million at September 30, 2026, from $52.763 million at December 31, 2025.
5 minor points
- Minor pointCommercial deployment orders arrived from fleets proceeding without pilot programs for the first time.
- Minor point. Forward-looking: it has not happened yet and may not happen.Dakota Lithium is expected to add to adjusted EBITDA using existing infrastructure with minimal incremental overhead.
- Minor pointGeneral and administrative expenses fell to $5.112 million from $5.299 million year over year.
- Minor pointSelling and marketing expenses fell to $1.593 million from $2.630 million year over year.
- Minor pointNet interest expense fell to $1.774 million from $6.409 million year over year.
Negative
- Major pointCash and cash equivalents fell to $1.941 million at September 30, 2026, from $18.270 million at year-end 2025.
- Major pointCurrent notes payable, net rose to $12.483 million from $433,000 between year-end 2025 and September 30, 2026.
- Moderate pointQ3 net sales fell 23.8% year over year to $12.174 million, below approximately $13.5 million guidance.
- Moderate pointGross profit declined to $3.285 million from $4.736 million; margin fell to 27.0% from 29.7% year over year.
- Moderate pointAdjusted EBITDA was negative $2.3 million, versus negative $2.1 million a year earlier and negative $1.6 million sequentially.
- Moderate pointStockholders’ equity became a $4.544 million deficit, versus positive $11.530 million at year-end 2025.
- Moderate pointCommon shares outstanding increased to 1,878,418 at September 30, 2026, from 1,509,839 at year-end 2025.
6 minor points
- Minor pointOEM sales fell 33.3% year over year to $7.122 million.
- Minor pointDirect-to-consumer sales fell 4.7% year over year to $4.802 million.
- Minor point. Forward-looking: it has not happened yet and may not happen.Q4 adjusted EBITDA outlook incorporates anticipated tariff-related refunds alongside cost reductions.
- Minor pointOperating loss widened to $4.053 million from $3.778 million year over year.
- Minor pointResearch and development expenses increased to $633,000 from $585,000 year over year.
- Minor pointPreferred stock dividends of $1.168 million reduced earnings attributable to common stockholders, versus none a year earlier.
News Explained
The release lists $1,168 thousand in Series B preferred dividends alongside net loss, before reporting the larger loss attributable to common stockholders.
The September 30 balance sheet reports 1,878,418 common shares issued and outstanding, versus 1,509,839 at
The release lists
Key Figures
- Net sales
- $12.2 million
- Q3 2026; below prior guidance of approximately $13.5 million and down 23.8% year over year
- Gross margin
- 27.0%
- Q3 2026, compared with 29.7% in Q3 2025
- Net loss attributable to common stockholders
- $(6.7) million
- Q3 2026, compared with $(11.1) million in Q3 2025
- Adjusted EBITDA
- $(2.3) million
- Q3 2026, compared with $(2.1) million in Q3 2025
- Q4 net sales guidance
- Approximately $12.5 million
- Q4 2026 guidance
- Q4 Adjusted EBITDA guidance
- Approximately breakeven
- Q4 2026 guidance
- Heavy-duty trucking revenue
- $1.3 million
- Q3 2026; more than doubled sequentially
Previous Earnings Reports
-
Sales fell 27.3% year over year and Adjusted EBITDA loss was $(4.6) million.
-
Sales and gross margin improved year over year, while net loss widened.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial
gaap financial
ebitda financial
at-the-market (atm) financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Heavy-Duty Trucking Revenue More Than Doubled Sequentially as Fleet Adoption Accelerates
Trucking Momentum Expected to Continue, With Q4 2026 Trucking Revenue Projected to Nearly Double on a Sequential Basis
Completed Acquisition of Dakota Lithium Brand, Expanding Into New Markets and Broadening Product Portfolio
Provides Q4 2026 Guidance of Approximately Breakeven Adjusted EBITDA
Third Quarter 2026 Financial Summary
- Net sales were
$12.2 million - OEM net sales were
$7.1 million - Gross Margin was
27.0% - Net Loss Attributable to Common Stockholders was
$(6.7) million - Adjusted EBITDA was
$(2.3) million
RENO, Nev., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in lithium battery technology, today reported its financial and operational results for the third quarter ended September 30, 2026.
“Third quarter heavy-duty trucking revenue more than doubled sequentially to
“RV market conditions remained challenging, which drove net sales below our expectations. However, adoption within our premium OEM partnerships remains healthy, as customers continue to standardize lithium systems and increase energy storage content across their product lineups.”
“Following our acquisition of Dakota Lithium at the end of July, we have been rebuilding inventory, re-engaging its dealer and distribution network, and strengthening its e-commerce capabilities. Early demand has been encouraging. We expect new inventory to begin arriving toward the end of the fourth quarter, with broader availability and a more meaningful revenue contribution beginning in the first quarter of 2027. We also expect Dakota to be accretive to Adjusted EBITDA as we leverage our existing infrastructure with minimal incremental overhead.”
Third Quarter 2026 Financial and Operating Results
| Net Sales by Customer Type | |||||||
| (in thousands) | |||||||
| Fiscal Quarter Ended | |||||||
| September 30, 2026 | September 30, 2025 | Change (YoY) | |||||
| OEM | $ | 7,122 | $ | 10,679 | - | ||
| DTC | $ | 4,802 | $ | 5,038 | - | ||
| Licensing Fee | $ | 250 | $ | 250 | |||
| Net Sales | $ | 12,174 | $ | 15,967 | - | ||
Net sales were
Gross profit was
The Company reported a Net Loss of
Adjusted EBITDA, excluding stock-based compensation, changes in the fair market value of our warrants, and other one-time expenses, was
Summary and Outlook
“Looking ahead to the fourth quarter, we expect trucking revenue to nearly double sequentially as existing fleet customers expand their deployments and we onboard new fleets. While RV market conditions remain challenging, we expect continued progress in trucking and Dakota Lithium, combined with our ongoing cost-reduction initiatives, to support our path toward profitability. We also anticipate broader product availability and a more meaningful revenue contribution from Dakota Lithium beginning in the first quarter of 2027, with the acquisition expected to be accretive to Adjusted EBITDA as we leverage our existing infrastructure. We remain focused on achieving sustainable positive Adjusted EBITDA, supported by continued growth in trucking, Dakota Lithium, and ongoing cost efficiencies,” concluded Dr. Phares.
Q4 2026 Guidance
- Net Sales of approximately
$12.5 million - Adjusted EBITDA of approximately breakeven*
The Adjusted EBITDA outlook reflects the anticipated benefit of certain tariff-related refunds, along with continued progress on the Company’s cost-reduction initiatives.
* The Company cannot reconcile its expected Adjusted EBITDA under “Q4 2026 Guidance” without unreasonable effort because certain items that impact net (loss) income and other reconciling metrics are out of the Company’s control and/or cannot be reasonably predicted at this time. Actual results may vary from the guidance and the variations may be material.
Use of Non-GAAP Financial Measures
Adjusted EBITDA is a non-GAAP measure and should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with United States generally accepted accounting principles (“GAAP”). Please refer to the reconciliation of Adjusted EBITDA to its nearest GAAP measure in this release.
The Company provides non-GAAP financial measures including EBITDA and Adjusted EBITDA as a supplement to GAAP financial information to enhance the overall understanding of the Company’s financial performance and to assist investors in evaluating the Company’s results of operations, period over period. Adjusted non-GAAP measures exclude significant unusual items. Investors should consider these non-GAAP measures as a supplement to, and not a substitute for, financial information prepared on a GAAP basis.
EBITDA is defined as earnings before interest and other income (expenses), income taxes, and depreciation and amortization. Adjusted EBITDA is calculated as EBITDA adjusted for stock-based compensation, change in fair market value of warrant liabilities, non-recurring costs associated with strategic financing, reverse stock split, litigation and loss on settlement. Adjusted EBITDA is a performance measure that the Company believes is useful to investors and analysts because it illustrates the underlying financial and business trends relating to the Company’s core, recurring results of operations and enhances comparability between periods.
Adjusted EBITDA has limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of net loss or other results as reported under GAAP. Some of these limitations are:
- Adjusted EBITDA does not reflect the Company’s cash expenditures, future requirements for capital expenditures, or contractual commitments;
- Adjusted EBITDA does not reflect changes in, or cash requirements for, the Company’s working capital needs;
- Adjusted EBITDA does not reflect the Company’s tax expense or the cash requirements to pay taxes;
- Although amortization and depreciation are non-cash charges, the assets being amortized and depreciated will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements;
- Adjusted EBITDA should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items for which the Company may adjust in historical periods; and
- Other companies in the industry may calculate Adjusted EBITDA differently than the Company does, limiting its usefulness as a comparative measure.
Webcast Information
The Dragonfly Energy management team will host a conference call to discuss its third quarter 2026 financial and operational results this afternoon, November 12, 2026, at 5:00 PM Eastern Time. The call can be accessed live via webcast by clicking here, or through the Events and Presentations page within the Investor Relations section of Dragonfly Energy’s website at https://investors.dragonflyenergy.com/events-and-presentations/default.aspx. To join by phone and participate in the Q&A, please register in advance here; dial-in details and a unique PIN will be provided upon registration. Please log in to the webcast or dial in to the call at least 10 minutes prior to the start of the event.
An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Dragonfly Energy’s website, along with the earnings press release.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a lithium battery technology company spanning battery cell manufacturing, pack assembly and full-system integration. The Company develops and delivers energy storage solutions for mobile, off-grid, industrial and specialty applications.
Dragonfly Energy is advancing domestic battery cell manufacturing through its patented dry electrode process and the development of next-generation battery technologies, including all-solid-state battery cells. Its work combines advanced research and development with software-enabled intelligence to improve the performance and capabilities of energy storage systems.
To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit https://investors.dragonflyenergy.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the Company’s guidance for the fourth quarter of 2026, including the anticipated benefit of tariff-related refunds, the expected benefits of the Dakota Lithium acquisition, the expected contribution of the Dakota Lithium acquisition to revenue and Adjusted EBITDA, the expectations regarding heavy-duty trucking revenue growth and fleet adoption, the Company’s Adjusted EBITDA profitability targets, results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.
These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to: the timing and extent of recovery in the Company’s core markets, including the RV market; the Company’s ability to successfully increase market penetration into target markets; the Company’s ability to penetrate the heavy-duty trucking and other new markets; fluctuations in diesel fuel prices and their effect on fleet demand for the Company’s products; the growth of the addressable markets that the Company intends to target; the Company’s ability to successfully integrate Dakota Lithium and realize the anticipated benefits of the acquisition; the timing and amount of any tariff-related refunds and changes in tariffs or trade policy; the Company’s ability to retain members of its senior management team and other key personnel; the Company’s ability to maintain relationships with key suppliers, including suppliers in China; the Company’s ability to maintain relationships with key customers; the Company’s ability to protect its patents and other intellectual property; the Company’s ability to successfully utilize its patented dry electrode battery manufacturing process and optimize solid-state cells as well as to produce commercially viable solid-state cells in a timely manner or at all, and to scale to mass production; the Company’s ability to timely achieve the anticipated benefits of its licensing arrangement with Stryten Energy LLC; the Company’s ability to achieve the anticipated benefits of its customer arrangements with Stevens Transport; the Company’s ability to maintain the listing of its common stock and public warrants on the Nasdaq Capital Market; the impact of geopolitical conflicts; the Company’s ability to generate revenue from future product sales and its ability to achieve and maintain profitability; and the Company’s ability to compete with other manufacturers in the industry and its ability to engage target customers and successfully convert these customers into meaningful orders in the future. These and other risks and uncertainties are described more fully in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC and in the Company’s subsequent filings with the SEC available at www.sec.gov.
If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Financial Tables
| Dragonfly Energy Holdings Corp. | ||||||||||
| Unaudited Condensed Consolidated Balance Sheets | ||||||||||
| (U.S. Dollars in Thousands, except share and per share data) | ||||||||||
| As of | ||||||||||
| September 30, 2026 | December 31, 2025 | |||||||||
| Current Assets | ||||||||||
| Cash and cash equivalents | $ | 1,941 | $ | 18,270 | ||||||
| Accounts receivable, net of allowance for credit losses | 4,214 | 4,215 | ||||||||
| Inventory | 19,736 | 24,234 | ||||||||
| Prepaid expenses | 652 | 1,088 | ||||||||
| Prepaid inventory | 2,323 | 937 | ||||||||
| Prepaid income tax | 359 | 353 | ||||||||
| Other current assets | 2,429 | 1,083 | ||||||||
| Total Current Assets | 31,654 | 50,180 | ||||||||
| Property and Equipment | ||||||||||
| Property and Equipment, Net | 20,419 | 20,741 | ||||||||
| Intangible Assets, Net | 2,225 | - | ||||||||
| Operating lease right of use asset, net | 14,350 | 15,240 | ||||||||
| Other assets | 378 | 388 | ||||||||
| Total Assets | $ | 69,026 | $ | 86,549 | ||||||
| Current Liabilities | ||||||||||
| Accounts payable | $ | 9,418 | $ | 10,322 | ||||||
| Accrued payroll and other liabilities | 2,389 | 4,053 | ||||||||
| Accrued tariffs | 341 | 943 | ||||||||
| Customer deposits | 242 | 121 | ||||||||
| Deferred revenue, current portion | 1,000 | 1,000 | ||||||||
| Dividends Payable | 518 | 317 | ||||||||
| Notes payable, current portion, net | 12,483 | 433 | ||||||||
| Operating lease liability, current portion | 2,273 | 2,533 | ||||||||
| Financing lease liability, current portion | 17 | 35 | ||||||||
| Total Current Liabilities | 28,681 | 19,757 | ||||||||
| Long-Term Liabilities | ||||||||||
| Deferred revenue, net of current portion | 1,833 | 2,583 | ||||||||
| Warrant liabilities | 3 | 713 | ||||||||
| Notes payable, non current portion, net of debt issuance costs | - | 9,212 | ||||||||
| Operating lease liability, net of current portion | 18,854 | 20,470 | ||||||||
| Financing lease liability, net of current portion | 77 | 28 | ||||||||
| Total Long-Term Liabilities | 20,767 | 33,006 | ||||||||
| Total Liabilities | 49,448 | 52,763 | ||||||||
| Commitments and Contingencies | ||||||||||
| Redeemable Preferred Stock | ||||||||||
| Preferred stock - Series B, 25,000 shares at | ||||||||||
| and 25,000 shares issued and outstanding as of September 30, 2026 and | 24,122 | 22,256 | ||||||||
| December 31, 2025, respectively | ||||||||||
| Stockholders' Equity | ||||||||||
| Preferred stock, 4,995,000 shares at | - | - | ||||||||
| Common stock, 50,000,000 shares at | ||||||||||
| Additional paid in capital | 164,099 | 163,623 | ||||||||
| Accumulated deficit | (168,643 | ) | (152,093 | ) | ||||||
| Stockholders' Equity | (4,544 | ) | 11,530 | |||||||
| Total Liabilities, Redeemable Preferred Stock and Stockholders' Equity | $ | 69,026 | $ | 86,549 | ||||||
| Dragonfly Energy Holdings Corp. | ||||||||||
| Unaudited Condensed Interim Consolidated Statement of Operations | ||||||||||
| (U.S. Dollars in Thousands, except share and per share data) | ||||||||||
| Three Months Ended | ||||||||||
| Sep 30, | Sep 30, | |||||||||
| 2026 | 2025 | |||||||||
| Net Sales | $ | 12,174 | $ | 15,967 | ||||||
| Cost of Goods Sold | 8,889 | 11,231 | ||||||||
| Gross Profit | 3,285 | 4,736 | ||||||||
| Operating Expenses | ||||||||||
| Research and development | 633 | 585 | ||||||||
| General and administrative | 5,112 | 5,299 | ||||||||
| Selling and marketing | 1,593 | 2,630 | ||||||||
| Total Operating Expenses | 7,338 | 8,514 | ||||||||
| Loss From Operations | (4,053 | ) | (3,778 | ) | ||||||
| Other Income (Expense) | ||||||||||
| Interest expense, net | (1,774 | ) | (6,409 | ) | ||||||
| Other Income | 411 | - | ||||||||
| Change in fair market value of warrant liability | (123 | ) | (883 | ) | ||||||
| Total Other Expense | (1,486 | ) | (7,292 | ) | ||||||
| Net Loss Before Taxes | (5,539 | ) | (11,070 | ) | ||||||
| Income Tax (Benefit) Expense | - | - | ||||||||
| Net Loss | $ | (5,539 | ) | $ | (11,070 | ) | ||||
| Less: Preferred Stock Dividends | (1,168 | ) | - | |||||||
| Net Loss Attributable to Common Stockholders | $ | (6,707 | ) | $ | (11,070 | ) | ||||
| Loss Per Share- Basic & Diluted | $ | (3.71 | ) | $ | (16.45 | ) | ||||
| Weighted Average Number of Shares- Basic & Diluted | 1,807,571 | 673,112 | ||||||||
| Dragonfly Energy Holdings Corp. | ||||||||||
| Reconciliation of GAAP to Non-GAAP Measures (Unaudited) | ||||||||||
| (U.S. Dollars in Thousands) | ||||||||||
| Three Months Ended | ||||||||||
| September 30, | September 30, | |||||||||
| 2026 | 2025 | |||||||||
| EBITDA Calculation | ||||||||||
| Net Loss Before Taxes | $ | (6,707 | ) | $ | (11,070 | ) | ||||
| Interest Expense | 1,774 | 6,409 | ||||||||
| Depreciation and Amortization | 486 | 460 | ||||||||
| EBITDA | $ | (4,447 | ) | $ | (4,201 | ) | ||||
| Adjustments to EBITDA | ||||||||||
| Stock - Based Compensation | 243 | 168 | ||||||||
| Series B Preferred Stock Dividend | 1,168 | - | ||||||||
| Preferred Stock Financing expenses | - | 13 | ||||||||
| Prior year tariff estimate adjustment | - | - | ||||||||
| Litigation Fees and loss on Settlement | 313 | - | ||||||||
| Expenses related to Debt Restructure | 88 | 354 | ||||||||
| Impairment of right-of-use asset and disposal of associated assets | 611 | |||||||||
| At-the-Market (ATM) set up Expenses | 13 | - | ||||||||
| Joint Venture Exploration | 37 | - | ||||||||
| Severance | - | 35 | ||||||||
| Expenses related to Dakota Lithium Asset Purchase Agreement | 121 | - | ||||||||
| Change in fair market value of warrant liability | 123 | 883 | ||||||||
| Adjusted EBITDA | $ | (2,341 | ) | $ | (2,137 | ) | ||||
| Dragonfly Energy Holdings Corp. | ||||||||||
| Unaudited Condensed Consolidated Statement of Cash Flows | ||||||||||
| Nine Months Ended September 30, | ||||||||||
| (U.S. Dollars in Thousands) | ||||||||||
| 2026 | 2025 | |||||||||
| Cash flows from Operating Activities | ||||||||||
| Net Loss | $ | (16,550 | ) | $ | (24,901 | ) | ||||
| Adjustments to Reconcile Net Loss to Net Cash | ||||||||||
| Used in Operating Activities | ||||||||||
| Stock based compensation | 717 | 578 | ||||||||
| Amortization of debt discount | 3,106 | 5,240 | ||||||||
| Change in fair market value of warrant liability | (370 | ) | (4,624 | ) | ||||||
| Non-cash interest expense (paid-in-kind) | 445 | 11,233 | ||||||||
| Provision for credit losses | (10 | ) | 87 | |||||||
| Depreciation and amortization | 1,733 | 1,810 | ||||||||
| Amortization of right of use assets | 890 | 1,948 | ||||||||
| Loss on disposal of property and equipment | 42 | 156 | ||||||||
| Loss on disposal of right-of-use assets | 454 | |||||||||
| Changes in Assets and Liabilities | ||||||||||
| Accounts receivable | 11 | (2,463 | ) | |||||||
| Inventories | 5,137 | (1,002 | ) | |||||||
| Prepaid expenses | 436 | (43 | ) | |||||||
| Prepaid inventory | (1,386 | ) | 125 | |||||||
| Prepaid income tax | (6 | ) | - | |||||||
| Other current assets | (1,346 | ) | 61 | |||||||
| Other assets | 10 | (6 | ) | |||||||
| Income taxes payable | - | (4 | ) | |||||||
| Accounts payable and accrued expenses | (2,823 | ) | 3,780 | |||||||
| Operating lease liabilities | (1,876 | ) | (2,160 | ) | ||||||
| Accrued tariffs | (602 | ) | (324 | ) | ||||||
| Accrued settlement | - | (375 | ) | |||||||
| Deferred revenue | (750 | ) | (750 | ) | ||||||
| Customer deposits | 121 | (65 | ) | |||||||
| Total Adjustments | 3,479 | 13,656 | ||||||||
| Net Cash Used in Operating Activities | (13,071 | ) | (11,245 | ) | ||||||
| Cash Flows From Investing Activities | ||||||||||
| Cash paid for acquisition of business | (1,000 | ) | - | |||||||
| Purchase of intangibles | (131 | ) | - | |||||||
| Purchase of property and equipment | (1,064 | ) | (1,808 | ) | ||||||
| Net Cash Used in Investing Activities | (2,195 | ) | (1,808 | ) | ||||||
| (Continued) | ||||||||||
| Cash Flows From Financing Activities | ||||||||||
| Proceeds from public offering (ATM), net | 1,031 | 63 | ||||||||
| Proceeds from preferred stock offering, net of fees | - | 7,330 | ||||||||
| Proceeds from public offering, net | - | 4,684 | ||||||||
| Payment of dividends | (1,327 | ) | - | |||||||
| Repayment of note payable | (713 | ) | - | |||||||
| Taxes paid related to net settlement of RSUs | - | - | ||||||||
| Proceeds from the exercise of pre-funded warrants | 1 | - | ||||||||
| Financing lease liabilities | (55 | ) | (35 | ) | ||||||
| Net Cash (Used in) Provided by Financing Activities | (1,063 | ) | 12,042 | |||||||
| Net Decrease in Cash and cash equivalents | (16,329 | ) | (1,011 | ) | ||||||
| Cash and cash equivalents - beginning of period | 18,270 | 4,849 | ||||||||
| Cash and cash equivalents - end of period | $ | 1,941 | $ | 3,838 | ||||||
| Supplemental Disclosures of Cash Flow Information: | ||||||||||
| Cash paid for income taxes | 6 | 4 | ||||||||
| Cash paid for interest | $ | 1,938 | $ | 4 | ||||||
| Supplemental Non-Cash Items | ||||||||||
| Purchases of property, equipment and intangibles, not yet paid | $ | 460 | $ | 16 | ||||||
| Recognition of machinery & equipment obtained in exchange for financing lease liability | $ | 86 | $ | - | ||||||
| Recognition of right of use asset obtained in exchange for operating lease liability | $ | - | $ | 642 | ||||||
| Conversion of preferred stock to common stock | $ | - | $ | 7,330 | ||||||
| Recognition of warrant liability - Investor Warrants | $ | - | $ | 696 | ||||||
| Declaration of dividends | $ | 1,530 | $ | - | ||||||
| Noncash consideration transferred pursuant to the Asset Purchase Agreement | $ | 1,755 | $ | - | ||||||
| Dividends paid in kind | $ | 382 | $ | - | ||||||
| Accretion of preferred stock discount | $ | 1,482 | $ | - | ||||||
| Settlement of accrued liability for employee stock purchase plan | $ | 26 | $ | 73 | ||||||
| Reclassification of assets held for sale to machinery and equipment | $ | - | $ | 644 | ||||||
| Cashless exercise of penny warrants | $ | 339 | $ | - | ||||||
Investor Relations:
Eric Prouty
Szymon Serowiecki
AdvisIRy Partners
DragonflyIR@advisiry.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Dragonfly Energy’s Q3 2026 sales and earnings?
Dragonfly Energy reported $12.174 million in net sales and a $6.707 million loss attributable to common stockholders, or $3.71 per diluted share. Sales declined 23.8% year over year. Adjusted EBITDA was negative $2.3 million, compared with negative $2.1 million in Q3 2025.
What is Dragonfly Energy’s Q4 2026 guidance?
Dragonfly Energy expects approximately $12.5 million in net sales and approximately breakeven adjusted EBITDA for Q4 2026. The adjusted EBITDA outlook includes anticipated tariff-related refunds and continued cost reductions. The company also expects heavy-duty trucking revenue to nearly double sequentially.
When does Dragonfly Energy expect Dakota Lithium inventory and revenue to increase?
Dragonfly Energy expects new Dakota Lithium inventory to begin arriving toward the end of Q4 2026, followed by broader availability and a more meaningful revenue contribution beginning in Q1 2027. Since the acquisition, work has included rebuilding inventory, re-engaging dealers and distributors, and strengthening e-commerce capabilities.