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Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) generates a steady flow of news centered on lithium battery technology, energy storage systems, and corporate developments. As a comprehensive lithium battery technology company focused on cell manufacturing, battery pack assembly, and full system integration, its announcements often combine technical progress with commercial milestones.
Recent news releases highlight Dragonfly Energy’s expansion across multiple end markets. In the RV sector, the company reports growing adoption of its Battle Born Batteries systems as standard equipment at major OEMs. In marine applications, it has announced expanded integration with World Cat, described as the world’s largest producer of power catamarans. In heavy-duty trucking, Dragonfly Energy has publicized a commercial order from Werner Enterprises for its Battle Born DualFlow Power Pack idle-reduction systems following long-term pilot testing.
News coverage also includes developments in the rail industry, such as a distribution partnership with National Railway Supply and participation in the American Railway Engineering and Maintenance-of-Way Association’s first lithium battery standard. Product-focused announcements describe the launch of the Battle Born Power Station Series of industrial-grade portable power stations, as well as new inverter/chargers, Base Series batteries, and an updated Battle Born mobile app that support complete power system solutions.
On the corporate side, Dragonfly Energy issues updates on quarterly financial results, capital raises, debt restructuring agreements, and listing compliance actions, including its 1-for-10 reverse stock split and confirmation of regained compliance with Nasdaq requirements. Investors and observers can use the DFLI news stream to follow operational performance, new partnerships, product introductions, and capital structure changes that shape the company’s trajectory in the energy storage space.
Dragonfly Energy (Nasdaq: DFLI) reported its Q1 2024 financial results, revealing net sales of $12.5M, a decline from $18.8M in Q1 2023. Gross profit decreased to $3.1M from $4.7M, with a net loss of $10.4M compared to a net income of $4.8M last year. The decline is attributed to lower battery sales and reduced customer demand due to inflation and higher interest rates. Operating expenses were trimmed to $8.9M from $14.6M, driven by cost-cutting measures. Looking ahead, Dragonfly Energy expects Q2 net sales between $14M-$15M and a net loss between $8M-$10M. The company is expanding into the oil & gas sector and has introduced new products in the trucking industry.
Dragonfly Energy (Nasdaq: DFLI) reported its Q1 2024 financial results. Net sales decreased to $12.5 million from $18.8 million in Q1 2023, mainly due to lower battery and accessory sales. Gross profit also fell to $3.1 million from $4.7 million. Operating expenses were reduced to $8.9 million from $14.6 million, but the company still posted a net loss of $10.4 million, compared to a net income of $4.8 million in Q1 2023. EBITDA was negative at $5.3 million, a sharp decline from $8.9 million in Q1 2023. Operational highlights include new orders in the trucking industry, certification for energy storage products in the oil & gas sector, and partnerships with Velociti Inc. and National Forest Foundation.
Dragonfly Energy expects net sales of $14.0 - $15.0 million for Q2 2024, with gross margins between 24% and 26%, and operating expenses ranging from $8.5 - $9.5 million. The company anticipates a net loss of $8.0 - $10.0 million for the quarter.
Dragonfly Energy, a green energy storage company, has made a significant breakthrough in lithium battery production by creating PFAS-free electrodes, addressing environmental and health concerns related to 'forever chemicals.' The company's dry electrode manufacturing process is sustainable, cost-effective, and environmentally friendly, positioning them for international partnerships and licensing opportunities.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) was awarded Business of the Year at the Nevada Business Awards. The company, known for Battle Born Batteries®, received the Spirit of Nevada award for its contributions to the state and support of the community. CEO Dr. Denis Phares expressed gratitude for the recognition and highlighted the company's focus on green energy storage and domestic lithium battery production.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) will report its first quarter 2024 financial results on May 14, 2024, followed by a conference call at 5:00 PM Eastern Time. Investors can access the live webcast or call in to listen. An archive will be available on the company's website after the event.
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