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Dragonfly Energy Holdings Corp (DFLI)
NASDAQ:DFLI
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Dragonfly Energy Holdings Corp
(NASDAQ:DFLI)
37Underperform
Positive Factors
Strategic partnerships
Dragonfly's top-line growth was driven by significant strides in expanding the customer base beyond the RV sector, leveraging strategic partnerships in trucking and industrial markets.
Technology innovation
The company is uniquely positioned to positively alter battery manufacturing economics through dry deposition and offer true solid-state energy storage cells.
Negative Factors
Revenue performance
Revenue was below estimates.
RV market impact
Dragonfly’s fundamentals have again been negatively impacted by a slowly recovering RV market.
Dragonfly Energy Holdings Corp (DFLI) vs. S&P 500 (SPY)
Market Cap
$7.44M
Dividend YieldN/A
Average Volume (3M)70.69K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth-21.35%
EPS Growth-155.36%
CountryUS
Employees150
SectorIndustrials
Sector Strength65
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-5.94
Shares Outstanding7,589,642
10 Day Avg. Volume85,247
30 Day Avg. Volume70,692
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.20
Price to Cash Flow (P/CF)0.90
P/FCF Ratio1.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.50Price Target Upside272.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Dragonfly Energy Holdings Corp Business Overview & Revenue Model
Company DescriptionDragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for RVs, marine vessels, off-grid installations, and other storage applications. It also focuses on delivering an energy storage solution to enable a sustainable and reliable smart grid through the deployment of its solid-state cell technology. The company is headquartered in Reno, Nevada.
How the Company Makes MoneyDragonfly Energy Holdings Corp generates revenue primarily through the sale of its lithium-ion battery products. The company targets consumers and businesses in industries that require reliable energy storage solutions, such as recreational vehicle manufacturers, marine equipment suppliers, and off-grid installations. Revenue is driven by direct sales to these customers, as well as through partnerships and distribution agreements with retailers and distributors. Additionally, Dragonfly Energy may engage in research and development collaborations that can contribute to its earnings by creating innovative products that meet evolving market demands.
Dragonfly Energy Holdings Corp Financial Statement Overview
Summary
Dragonfly Energy Holdings Corp is facing significant financial challenges with declining revenues, persistent net losses, high leverage, and negative equity. The financial structure indicates a precarious position requiring improvement in operational efficiency and cash management.Income Statement
Dragonfly Energy Holdings Corp has faced challenges in maintaining profitability with negative net income reported in the TTM (Trailing-Twelve-Months) and previous annual periods. The TTM gross profit margin stands at 22.8%, showing some ability to cover costs of goods sold, but the net profit margin is deeply negative at -56.8%, highlighting significant operational inefficiencies. The company also experienced a revenue decline of 24.1% from 2022 to the TTM, indicating difficulties in sustaining revenue growth. EBIT and EBITDA margins are also negative, reflecting ongoing operational losses.45
Neutral
Balance Sheet
The balance sheet shows a concerning financial structure with negative stockholders' equity in the TTM, indicating more liabilities than assets. The debt-to-equity ratio is not applicable due to negative equity, but the high total debt relative to assets suggests significant leverage. Return on equity is negative, impacted by the net losses, and the equity ratio is technically negative, further emphasizing financial instability. These metrics indicate a risky financial position with potential solvency issues.30
Negative
Cash Flow
Cash flow analysis reveals a challenging situation with negative free cash flow in the TTM and prior periods, suggesting cash outflows from operations exceed cash inflows. The operating cash flow to net income ratio is approximately 0.20, showing poor cash conversion efficiency. Free cash flow growth is negative, highlighting ongoing liquidity pressures. These factors indicate a need for improved cash management to support ongoing operations.38
Negative
| Breakdown | ||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 48.87M | 64.39M | 86.25M | 78.00M | 47.19M | Gross Profit |
| 11.12M | 15.45M | 24.00M | 29.63M | 20.61M | EBIT |
| -21.93M | -27.43M | -13.54M | 6.47M | 8.75M | EBITDA |
| -5.52M | 3.41M | -32.83M | 7.08M | 8.94M | Net Income Common Stockholders |
| -27.76M | -13.82M | -19.11M | 4.34M | 6.88M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 12.71M | 12.71M | 17.78M | 25.59M | 6.21M | Total Assets |
| 75.20M | 75.20M | 89.31M | 76.25M | 18.81M | Total Debt |
| 23.27M | 23.31M | 23.97M | 44.70M | 983.00K | Net Debt |
| 10.56M | 10.59M | 6.19M | 19.12M | -5.22M | Total Liabilities |
| 47.29M | 47.29M | 77.97M | 62.19M | 10.25M | Stockholders Equity |
| 27.91M | 27.91M | 11.33M | 14.06M | 8.55M |
| Cash Flow | Free Cash Flow | |||
| -7.76M | -24.59M | -35.28M | -16.54M | 5.23M | Operating Cash Flow |
| -5.69M | -17.71M | -28.87M | -13.57M | 6.64M | Investing Cash Flow |
| -2.07M | -6.88M | -6.41M | -2.91M | -1.41M | Financing Cash Flow |
| 2.54M | 19.52M | 24.85M | 38.91M | 12.00K |
Dragonfly Energy Holdings Corp Technical Analysis
Negative
0.94
Price Trends
1.77
Negative
2.64
Negative
4.28
Negative
Market Momentum
-0.24
Negative
27.57
Positive
5.65
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DFLI, the sentiment is Negative. The current price of 0.94 is below the 20-day moving average (MA) of 1.15, below the 50-day MA of 1.77, and below the 200-day MA of 4.28, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 27.57 is Positive, neither overbought nor oversold. The STOCH value of 5.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DFLI.
Dragonfly Energy Holdings Corp Risk Analysis
Dragonfly Energy Holdings Corp disclosed 97 risk factors in its most recent earnings report. Dragonfly Energy Holdings Corp reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dragonfly Energy Holdings Corp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $8.26B | 84.69 | 11.30% | ― | -41.92% | -76.24% | |
62 Neutral | $8.08B | 13.63 | 3.82% | 3.13% | 3.58% | -14.35% | |
51 Neutral | $980.79M | ― | -116.01% | ― | -68.86% | -4917.87% | |
45 Neutral | $97.05M | ― | -18.96% | ― | 11.09% | 0.41% | |
43 Neutral | $1.27B | ― | -90.88% | ― | -29.45% | -10.79% | |
37 Underperform | $7.44M | ― | -438.89% | ― | -21.35% | -155.36% |
* Industrials Sector Average
Performance Comparison
DFLI
Dragonfly Energy Holdings Corp
0.77
-3.69
-82.74%
BLDP
Ballard Power Systems
1.09
-2.06
-65.40%
ENPH
Enphase Energy
58.77
-53.50
-47.65%
FCEL
Fuelcell Energy
4.82
-29.08
-85.78%
PLUG
Plug Power
1.21
-1.93
-61.46%
SEDG
SolarEdge Technologies
15.42
-51.27
-76.88%
Dragonfly Energy Holdings Corp Earnings Call Summary
Earnings Call Date: Mar 24, 2025 | % Change Since: -27.69% | Next Earnings Date: May 20, 2025
Earnings Call Sentiment Neutral
Dragonfly Energy showcased significant strategic and financial advancements, including revenue growth, successful debt restructuring, and expansion in the heavy-duty trucking sector. However, challenges such as decreased DTC sales, increased operating expenses, and a negative adjusted EBITDA were noted. The company's future outlook appears promising, with strategic initiatives aimed at achieving positive adjusted EBITDA by the fourth quarter of 2025.Highlights
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.
Lowlights
Decreased DTC Sales
DTC segment net sales declined from $6.6 million to $5.7 million due to ongoing macroeconomic pressures.
Increased Operating Expenses
Operating expenses rose to $6.3 million from $5.4 million due to higher G&A and R&D costs and expenses related to a new facility consolidation.
Negative Adjusted EBITDA
Adjusted EBITDA was negative $2.3 million, below the previous year's negative $1.8 million, with expectations of negative $3.8 million in the first quarter of 2025.
Net Loss
The company reported a net loss of $9.8 million, compared to a net income of $3.3 million in the previous year.
Company Guidance
During Dragonfly Energy's fourth-quarter earnings call, key financial metrics and strategic initiatives for early 2025 were discussed. The company reported a 17% year-over-year increase in total revenue, reaching $12.2 million, with OEM sales growing by 61% to $6.2 million. However, the DTC segment saw a decline, with net sales dropping to $5.7 million from $6.6 million. The gross profit rose by 12.5% to $2.5 million, yielding a gross profit margin of 20.8%, despite an 80 basis point decline due to higher material costs. Operating expenses increased to $6.3 million, partly due to the consolidation into a new facility. The net loss was reported at $9.8 million, equating to a diluted net loss of $1.39 per share, and adjusted EBITDA was negative $2.3 million. For the first quarter of 2025, the company expects net sales of approximately $13.3 million and adjusted EBITDA to be around negative $3.8 million. Dragonfly Energy aims to achieve positive adjusted EBITDA by the fourth quarter, driven by growth in the RV and trucking sectors and ongoing diversification efforts.Dragonfly Energy Holdings Corp Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Dragonfly Energy Announces Debt Restructuring and Capital Raise
Positive
Feb 27, 2025
On February 27, 2025, Dragonfly Energy Holdings Corp. announced a significant corporate debt restructuring and a capital raise aimed at enhancing its financial flexibility and liquidity. The company completed an amendment to its existing debt facility, which includes a waiver of quarterly liquidity covenants and an extension of the debt maturity date to October 7, 2027. Additionally, Dragonfly Energy raised $3.5 million through a registered direct offering and private placement of Series A Convertible Preferred Stock, with a second contingent tranche of $4.5 million. This strategic move is expected to strengthen the company’s financial position, allowing it to pursue strategic initiatives with greater flexibility, potentially impacting its market positioning and stakeholder interests.
Executive/Board ChangesBusiness Operations and Strategy
Dragonfly Energy Appoints New Chief Operating Officer
Positive
Feb 5, 2025
Dragonfly Energy Holdings Corp has appointed Dr. Vickram Singh as the new Chief Operating Officer, effective February 4, 2025. Dr. Singh, previously the Senior Vice President of Technology, has a rich history within the company, having served in various research and development roles. His appointment comes with an employment agreement outlining a three-year term, an annual base salary of $350,000, a discretionary bonus, and long-term incentives. The agreement includes provisions for severance, confidentiality, and non-competition covenants, ensuring a structured leadership transition and continuity in operations. This strategic appointment is expected to enhance the company’s operational capabilities and strengthen its market position in the energy storage industry.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.