Dragonfly Energy Holdings Corp (DFLI)
NASDAQ:DFLI
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Dragonfly Energy Holdings Corp
(NASDAQ:DFLI)
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Rating:47Neutral
Price Target:
$1.50
▼(-24.62% Downside)
Action:Reiterated
Date:06/02/26
The score is held down primarily by very weak financial performance (large losses, significant cash burn, and high leverage). Technical indicators show only a modest short-term rebound, while valuation is constrained by negative earnings and no dividend support. Offsetting factors include improving near-term outlook from Q2 guidance, cost actions, and trucking momentum, but profitability and balance-sheet risk remain the key overhangs.
Positive Factors
Strengthening IP: solid‑state patent
A Japan patent allowance for powderized solid‑state electrolyte reinforces a durable tech moat, supporting future higher energy density and safer cells. International IP strengthens licensing and partner leverage and can improve unit economics if commercialization and scale follow.
Negative Factors
High leverage
A very thin equity cushion and elevated debt ratio materially limit financial flexibility. High leverage increases refinancing and covenant risk, constrains ability to invest in growth or R&D, and raises the probability of dilutive capital raises if operational improvements stall.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthening IP: solid‑state patent
A Japan patent allowance for powderized solid‑state electrolyte reinforces a durable tech moat, supporting future higher energy density and safer cells. International IP strengthens licensing and partner leverage and can improve unit economics if commercialization and scale follow.
Read all positive factors
Dragonfly Energy Holdings Corp (DFLI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.55M
Dividend YieldN/A
Average Volume (3M)447.60K
Price to Earnings (P/E)―
Beta (1Y)2.56
Revenue Growth6.76%
EPS Growth56.18%
CountryUS
Employees139
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-23.30
Shares Outstanding12,815,340
10 Day Avg. Volume389,864
30 Day Avg. Volume447,596
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.27
Price to Sales (P/S)0.25
P/FCF Ratio-0.53
Enterprise Value/Market Cap2.14
Enterprise Value/Revenue0.88
Enterprise Value/Gross Profit3.60
Enterprise Value/Ebitda-0.98
Forecast
1Y Price Target
$4.13Price Target Upside107.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.26
Revenue Forecast (FY)$56.45M
Dragonfly Energy Holdings Corp Business Overview & Revenue Model
Company Description
Dragonfly Energy Holdings Corp. specializes in the production and distribution of robust deep cycle lithium-ion batteries, which power a range of applications such as recreational vehicles, marine crafts, isolated power systems, and general energy...
How the Company Makes Money
Dragonfly Energy primarily makes money by selling lithium-ion battery products and related power/energy storage solutions to end customers and channel partners. Key revenue streams include (1) sales of branded lithium battery packs and systems use...
Dragonfly Energy Holdings Corp Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call presented a cautiously optimistic outlook: significant commercial momentum in heavy-duty trucking (including a >$3M order and improved ROI dynamics) and concrete cost reductions create a clear path toward improving profitability. However, Q1 results still showed losses, a low 17.6% gross margin, and continued weakness in the RV market (March retail sales down >20% YoY). Near-term recovery hinges on the trucking ramp proceeding as planned and successful conversion of OEM/fleet trials into production deployments.Positive Updates
Quarterly Net Sales and Mix
Q1 net sales of $9.7M (OEM $5.8M; DTC $3.7M) with sequential Q2 guidance of ~$13.2M, representing expected sequential growth of 36% as trucking revenue ramps.
Negative Updates
Ongoing Losses and Negative Adjusted EBITDA
Q1 net loss attributable to common shareholders was $7.7M (EPS -$0.64) and adjusted EBITDA was negative $4.6M, indicating the company remains unprofitable this quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Net Sales and Mix
Q1 net sales of $9.7M (OEM $5.8M; DTC $3.7M) with sequential Q2 guidance of ~$13.2M, representing expected sequential growth of 36% as trucking revenue ramps.
Read all positive updates
Company Guidance
On the call Dragonfly provided specific near‑term guidance and key metrics: Q1 net sales were $9.7M (OEM $5.8M, DTC $3.7M) with 17.6% gross margin, operating expenses $7.4M (down from $9.8M), a net loss of $7.7M (‑$0.64/share) and adjusted EBITDA of –$4.6M; for Q2 the company is guiding net sales of ~ $13.2M (≈36% sequential growth) and adjusted EBITDA of ≈ –$1.9M (a $2.7M sequential improvement). Management reiterated a target of positive adjusted EBITDA at an annualized net sales run rate of ~ $70M, noted realized annualized expense reductions of ~$4.5M with an additional ~$4M expected from rental consolidation (together driving ~ $9M of annualized adjusted EBITDA improvement), and highlighted commercial metrics including a Stevens Transport purchase order > $3M for nearly 500 trucks (from a 2,500 truck fleet), Nevada Tech Hub funding of $527k (through Q2 2027), nearly 90 issued/pending patents, March RV retail sales down >20% YoY, and improved product economics (dual‑flow payback moved from just over 1 year to under 10 months).Dragonfly Energy Holdings Corp Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.98M | 58.63M | 50.65M | 64.39M | 86.25M | 78.00M |
| Gross Profit | 13.43M | 15.65M | 11.63M | 15.45M | 23.62M | 29.63M |
| EBITDA | -49.18M | -45.06M | -15.51M | 3.41M | -32.83M | 7.08M |
| Net Income | -69.77M | -69.94M | -40.62M | -13.82M | -39.99M | 4.34M |
Balance Sheet | ||||||
| Total Assets | 75.69M | 86.55M | 75.21M | 75.20M | 89.11M | 76.25M |
| Cash, Cash Equivalents and Short-Term Investments | 8.64M | 18.27M | 4.85M | 12.71M | 17.78M | 25.59M |
| Total Debt | 55.63M | 32.71M | 55.27M | 23.31M | 24.02M | 44.70M |
| Total Liabilities | 71.78M | 75.02M | 84.62M | 47.29M | 78.36M | 62.19M |
| Stockholders Equity | 3.91M | 11.53M | -9.40M | 27.91M | 10.74M | 14.06M |
Cash Flow | ||||||
| Free Cash Flow | -31.69M | -27.92M | -9.92M | -24.59M | -52.56M | -16.54M |
| Operating Cash Flow | -30.24M | -25.97M | -7.18M | -17.71M | -45.70M | -13.57M |
| Investing Cash Flow | -1.45M | -1.95M | -2.73M | -6.88M | -6.83M | -2.91M |
| Financing Cash Flow | 37.52M | 41.34M | 2.05M | 19.52M | 41.67M | 38.91M |
Dragonfly Energy Holdings Corp Technical Analysis
Negative
1.99
Price Trends
2.00
Negative
2.32
Negative
4.74
Negative
Market Momentum
-0.07
Positive
37.61
Neutral
10.81
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 1.99 is above the 20-day moving average (MA) of 1.97, below the 50-day MA of 2.00, and below the 200-day MA of 4.74, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 37.61 is Neutral, neither overbought nor oversold. The STOCH value of 10.81 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $108.27M | ― | -6.14% | ― | 8.42% | -254.85% | |
48 Neutral | $64.12M | -3.65 | -0.06% | ― | 50.51% | -4669.05% | |
48 Neutral | $142.55M | -4.08 | -432.85% | ― | 7.52% | 13.21% | |
47 Neutral | $22.55M | -0.30 | 1227.16% | ― | 6.76% | 56.18% | |
42 Neutral | $19.48M | ― | -737.52% | ― | -19.55% | 31.32% | |
40 Underperform | $25.67M | -0.39 | -926.77% | ― | -73.24% | 53.32% |
* Industrials Sector Average
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Dragonfly Energy Holdings Corp Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Dragonfly Energy Simplifies Capital Structure with Article Amendments
Neutral
Jun 8, 2026
On June 5, 2026, Dragonfly Energy Holdings Corp. amended its Articles of Incorporation in Nevada to update its registered agent and registered office, a procedural change that became effective immediately upon filing and helps maintain current cor...
Business Operations and StrategyLegal Proceedings
Dragonfly Energy Sues Over Alleged Misleading Battery Reviews
Negative
Jun 2, 2026
On June 1, 2026, Dragonfly Energy Holdings Corp., maker of Battle Born Batteries, filed a trade libel lawsuit in Nevada state court against William Errol Prowse IV and Prowse Publications LLC, alleging that Prowse’s monetized online technica...
Business Operations and StrategyFinancial Disclosures
Dragonfly Energy Guides Higher Q2 Revenue Amid Losses
Negative
May 14, 2026
Dragonfly Energy reported first-quarter 2026 net sales of $9.7 million, down 27.3% year over year, with OEM and direct-to-consumer revenue declining amid a softer RV market, while gross margin compressed to 17.6% and net loss attributable to commo...
Business Operations and Strategy
Dragonfly Energy Secures Key Solid-State Battery Patent in Japan
Positive
Apr 23, 2026
On April 23, 2026, Dragonfly Energy Holdings Corp. announced it received an allowance from the Japan Patent Office for its patent application titled “Powderized Solid-State Electrolyte and Electroactive Materials,” marking the company&...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Dragonfly Energy Launches Cost-Cutting Initiative to Boost Profitability
Negative
Mar 16, 2026
On March 15, 2026, Dragonfly Energy announced a broad cost-reduction program that includes approximately 20% base salary cuts for its executive team and board, similar payroll reductions and workforce cuts across employees, and lower discretionary...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.