Dragonfly Energy Holdings Corp (DFLI)
NASDAQ:DFLI
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Dragonfly Energy Holdings Corp
(NASDAQ:DFLI)
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Rating:42Neutral
Price Target:
$1.50
▼(-24.62% Downside)
Action:ReiteratedDate:03/19/26
The score is held down primarily by weak financial quality—large, persistent losses and ongoing cash burn—despite some balance-sheet repair in 2025. Technicals also remain bearish with the stock below major moving averages and negative MACD. Offsetting these, the earnings update showed improved margins, better adjusted EBITDA trends, and capital actions/debt reduction, but guidance still implies continued near-term losses.
Positive Factors
OEM partnerships & market position
Deepening OEM relationships with established RV brands strengthens recurring, higher-volume revenue channels and embeds Dragonfly into OEM supply chains. This structural channel mix can stabilize demand, improve order visibility, and increase customer stickiness over a multi-quarter horizon.
Negative Factors
Persistent negative operating cash flow
The business has generated negative operating and free cash flow every year from 2021–2025, with large cash burn in 2025. Ongoing negative cash generation increases dependence on external capital, constrains reinvestment, and raises execution risk if capital markets tighten over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
OEM partnerships & market position
Deepening OEM relationships with established RV brands strengthens recurring, higher-volume revenue channels and embeds Dragonfly into OEM supply chains. This structural channel mix can stabilize demand, improve order visibility, and increase customer stickiness over a multi-quarter horizon.
Read all positive factors
Dragonfly Energy Holdings Corp (DFLI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.18M
Dividend YieldN/A
Average Volume (3M)465.03K
Price to Earnings (P/E)―
Beta (1Y)1.99
Revenue Growth18.24%
EPS Growth24.49%
CountryUS
Employees139
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-14.92
Shares Outstanding12,148,783
10 Day Avg. Volume365,729
30 Day Avg. Volume465,027
Financial Highlights & Ratios
PEG Ratio2.78
Price to Book (P/B)1.27K
Price to Sales (P/S)250.47
P/FCF Ratio-507.42
Enterprise Value/Market Cap0.65
Enterprise Value/Revenue0.27
Enterprise Value/Gross Profit1.00
Enterprise Value/Ebitda-0.89
Forecast
1Y Price Target
$4.13Price Target Upside107.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.95
Revenue Forecast (FY)$76.25M
Dragonfly Energy Holdings Corp Business Overview & Revenue Model
Company Description
Dragonfly 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 sustai...
How the Company Makes Money
DFLI makes money primarily by selling lithium-ion battery products and related power/energy components. The core revenue stream is product sales of lithium battery packs (including drop-in replacement batteries and application-specific battery sys...
Dragonfly Energy Holdings Corp Earnings Call Summary
Earnings Call Date:Nov 14, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth, margin improvements, and successful debt restructuring, which position the company for future growth. However, challenges remain with an increased net loss and cautious outlook for the next quarter due to macroeconomic factors.Positive Updates
Significant Revenue Growth
Dragonfly Energy Holdings Corp. achieved a 26% year-over-year increase in sales, reaching $16 million, with a 44% increase in OEM net sales.
Negative Updates
Net Loss Increase
The company reported a net loss of $11.1 million, compared to a net loss of $6.8 million in the previous year.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Revenue Growth
Dragonfly Energy Holdings Corp. achieved a 26% year-over-year increase in sales, reaching $16 million, with a 44% increase in OEM net sales.
Read all positive updates
Company Guidance
During the third quarter of 2025, Dragonfly Energy Holdings Corp. reported a 26% year-over-year increase in sales to $16 million, with gross margins expanding by over 700 basis points to nearly 30%. This was attributed to operational improvements and a positive product mix, leading to a $3.3 million improvement in adjusted EBITDA. The company also executed significant capital raising and debt restructuring initiatives, raising approximately $90 million through equity offerings and reducing its total debt principal to $19 million. Despite a net loss of $11.1 million, the company achieved a gross profit increase of 65% to $4.7 million and a 710 basis point expansion in gross margins to 29.7%. Looking ahead to the fourth quarter, Dragonfly projects net sales of approximately $13 million and an adjusted EBITDA of about negative $3.3 million, while remaining optimistic about profitability and growth opportunities in 2026.Dragonfly Energy Holdings Corp Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
41
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 58.63M | 50.65M | 64.39M | 86.25M | 78.00M |
| Gross Profit | 15.65M | 11.63M | 15.45M | 23.62M | 29.63M |
| EBITDA | -17.60M | -15.51M | 3.41M | -32.83M | 7.08M |
| Net Income | -70.25M | -40.62M | -13.82M | -39.99M | 4.34M |
Balance Sheet | |||||
| Total Assets | 86.55M | 75.21M | 75.20M | 89.11M | 76.25M |
| Cash, Cash Equivalents and Short-Term Investments | 18.27M | 4.85M | 12.71M | 17.78M | 25.59M |
| Total Debt | 32.71M | 55.27M | 23.31M | 24.02M | 44.70M |
| Total Liabilities | 75.02M | 84.62M | 47.29M | 78.36M | 62.19M |
| Stockholders Equity | 11.53M | -9.40M | 27.91M | 10.74M | 14.06M |
Cash Flow | |||||
| Free Cash Flow | -28.94M | -9.92M | -24.59M | -52.56M | -16.54M |
| Operating Cash Flow | -26.99M | -7.18M | -17.71M | -45.70M | -13.57M |
| Investing Cash Flow | -1.95M | -2.73M | -6.88M | -6.83M | -2.91M |
| Financing Cash Flow | 41.80M | 2.05M | 19.52M | 41.67M | 38.91M |
Dragonfly Energy Holdings Corp Technical Analysis
Negative
1.99
Price Trends
2.42
Negative
4.00
Negative
4.85
Negative
Market Momentum
-0.19
Negative
44.24
Neutral
75.13
Neutral
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 below the 20-day moving average (MA) of 2.06, below the 50-day MA of 2.42, and below the 200-day MA of 4.85, indicating a bearish trend. The MACD of -0.19 indicates Negative momentum. The RSI at 44.24 is Neutral, neither overbought nor oversold. The STOCH value of 75.13 is Neutral, 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% | |
59 Neutral | $113.18M | -16.14 | -4.35% | ― | 12.94% | -81.09% | |
48 Neutral | $72.25M | -7.95 | -0.03% | ― | -22.02% | -156.65% | |
46 Neutral | $149.27M | -7.06 | -1158.25% | ― | 7.06% | 12.25% | |
45 Neutral | $23.26M | 10.40 | 365.40% | ― | 2.14% | 5.01% | |
45 Neutral | $31.25M | -0.43 | -265.36% | ― | -3.53% | 24.37% | |
42 Neutral | $24.18M | -209.02 | 664.41% | ― | 18.24% | 24.49% |
* Industrials Sector Average
DFLI
Dragonfly Energy Holdings Corp
1.99
-4.65
-70.03%
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Dragonfly Energy Holdings Corp Corporate Events
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...
Private Placements and FinancingRegulatory Filings and Compliance
Dragonfly Energy Launches $50 Million At-The-Market Offering
Neutral
Jan 30, 2026
On January 30, 2026, Dragonfly Energy Holdings Corp. entered into an Equity Distribution Agreement with Canaccord Genuity LLC, acting as lead agent on behalf of a syndicate of sales agents, allowing the company to offer and sell up to $50 million ...
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.