Revenue Growth Achievement
Total revenue grew 17% year-over-year, marking the first quarterly year-over-year revenue growth in two years, driven by a 61% increase in OEM sales.
Successful Debt Restructuring
The company negotiated a debt restructuring that eliminates all covenants except a monthly liquidity requirement, extends debt maturity to October 2027, and reclassifies debt as long-term, enhancing financial flexibility.
Expansion in Heavy-Duty Trucking Sector
Dragonfly Energy expanded its presence in the heavy-duty trucking market with partnerships that validate its solutions, leading to fleet-wide implementation and expected significant revenue contributions in 2025.
New Strategic Partnerships
The company strengthened its distribution network by partnering with Keystone Automotive, NTP-STAG, SeaWide, and Meyer Distributing, expanding its market presence.
Corporate Optimization Program
Launched a program with Province to focus on near-term revenue opportunities and improve operational efficiency, with an aim to achieve positive adjusted EBITDA by year-end.