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Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a cutting-edge lithium battery technology company that specializes in the manufacturing, assembly, and integration of advanced energy storage solutions. The company is a prominent player in the energy storage industry, leveraging its proprietary technologies to deliver efficient, environmentally friendly, and cost-effective lithium-ion battery systems. At the core of Dragonfly Energy's operations is its patented dry electrode manufacturing process, a groundbreaking innovation that supports the production of non-toxic, chemistry-agnostic battery cells. This process positions the company as a leader in domestic lithium battery cell production, addressing the growing demand for sustainable energy solutions.
Core Business and Product Offerings
Dragonfly Energy's primary focus lies in the development and commercialization of lithium iron phosphate (LFP) batteries, which offer significant advantages over traditional lead-acid batteries. These batteries are non-toxic, environmentally friendly, and free from reliance on scarce or controversial materials. They are designed for deep-cycle use and excel in durability, safety, and efficiency. Through its flagship brand, Battle Born Batteries®, the company has established a strong presence in diverse markets, including recreational vehicles (RVs), marine vessels, solar energy systems, and off-grid applications. Its product portfolio caters to both original equipment manufacturers (OEMs) and retail consumers, with hundreds of thousands of battery packs deployed globally.
Technological Innovation
A key differentiator for Dragonfly Energy is its focus on technological innovation. The company's patented dry electrode manufacturing process not only enhances the sustainability of its operations but also enables the production of solid-state battery cells. These all-solid-state cells, currently under development, are designed to be nonflammable and highly efficient, representing a significant advancement in energy storage technology. This innovation underscores Dragonfly Energy's commitment to driving the evolution of clean energy solutions and reducing dependence on traditional battery chemistries.
Market Position and Industry Impact
Operating at the forefront of the energy storage industry, Dragonfly Energy plays a pivotal role in enabling the transition to sustainable energy systems. Its products are integral to a wide range of applications, from residential and commercial energy storage to electric vehicles and consumer electronics. By addressing critical challenges such as energy density, safety, and environmental impact, the company has positioned itself as a trusted partner for both industrial and individual users. Furthermore, its domestic manufacturing capabilities align with broader efforts to strengthen the U.S. lithium supply chain and enhance economic competitiveness in the global energy market.
Competitive Advantages
- Environmentally Friendly Solutions: Dragonfly Energy's LFP batteries are non-toxic and free from heavy metals, offering a safer and more sustainable alternative to lead-acid batteries.
- Innovative Manufacturing: The patented dry electrode process reduces production costs and environmental impact while enabling the development of advanced battery chemistries.
- Diverse Applications: The company's products serve a broad spectrum of industries, including renewable energy, transportation, and consumer electronics.
- Strong Brand Presence: Battle Born Batteries® is widely recognized for its reliability and performance, bolstering the company's reputation in the market.
Commitment to Sustainability
Dragonfly Energy is deeply committed to advancing clean energy technologies that contribute to a more sustainable future. Its focus on reducing environmental impact through innovative manufacturing processes and the development of solid-state battery technology reflects its dedication to addressing global energy challenges. By providing high-performance energy storage solutions, the company empowers individuals and businesses to adopt renewable energy systems and reduce their carbon footprint.
Conclusion
Dragonfly Energy Holdings Corp. stands out as a leader in the lithium battery industry, combining technological expertise with a strong commitment to sustainability. Its innovative products and processes address critical energy storage needs across diverse markets, making it a key player in the transition to a cleaner, more efficient energy future. With its focus on domestic manufacturing and cutting-edge technology, Dragonfly Energy is well-positioned to support the growing demand for reliable, eco-friendly energy solutions.
Dragonfly Energy (DFLI) has announced a significant financial restructuring, including a debt amendment and capital raise to enhance liquidity. The company completed an amendment to its existing debt facility, securing key terms including: covenant waivers through June 30, 2026, debt maturity extension to October 2027, PIK interest option for 2025, and reduced monthly liquidity covenant to $2.5 million through March 2026.
The company also entered a definitive agreement for $3.5 million in initial gross proceeds through Series A Convertible Preferred Stock sale, with an additional $4.5 million contingent upon stockholder approval and SEC registration. The agreement includes warrants for up to $40 million in additional Preferred Stock purchases. The Preferred Stock is convertible at $2.332 per common share, with proceeds intended for working capital and general corporate purposes.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), a leader in energy storage and battery technology, has appointed AdvisIRy Partners as its new investor relations firm. The company, which specializes in lithium-ion battery solutions for RV, trucking, and industrial sectors, is working on developing proprietary dry electrode technology for next-generation battery cell manufacturing.
CEO Dr. Denis Phares emphasized that this partnership comes at a important point in the company's evolution. AdvisIRy Partners, successor to Morgen-Walke Associates, will be led by Partner Eric Prouty, who will work with Dragonfly's executive team on investor relations strategies, messaging, and outreach. The firm brings extensive experience in sell-side, buy-side, and investor relations.
Dragonfly Energy (Nasdaq: DFLI) has secured a major purchase order from Stevens Transport for its Battle Born® All-Electric APUs. Stevens Transport, one of North America's largest temperature-controlled freight carriers, will transition its entire fleet of 2,500 trucks to Dragonfly's lithium power solutions. The implementation begins with 100 trucks in Q1 2025.
The partnership focuses on hybrid electrification, combining combustion engines with lithium iron phosphate batteries, rather than full fleet electrification. This approach aims to provide a cost-effective, sustainable solution while enhancing fleet performance and reducing operational costs. The initiative represents Stevens Transport's commitment to environmental sustainability and operational efficiency in the trucking industry.
Dragonfly Energy (Nasdaq: DFLI) announces the release of new Battle Born® smart lithium batteries featuring Dragonfly IntelLigence®, their patent-pending technology for battery monitoring. The launch coincides with their Black Friday sales event running through Cyber Monday. The smart batteries offer real-time monitoring capabilities through the Battle Born Mobile App, allowing users to track battery performance, receive alerts, and access historical data. The technology ensures compliance with ABYC E-13 Standards for marine vessel lithium systems. Special introductory pricing is available during the Black Friday event at BattleBornBatteries.com.
Dragonfly Energy (Nasdaq: DFLI) announced a 1-for-9 reverse stock split effective November 22, 2024. The company's common stock will continue trading on Nasdaq under 'DFLI' with a new CUSIP number. The split will reduce outstanding shares from approximately 63.2 million to 7.0 million. The reverse split maintains stockholders' equity percentage and applies to outstanding warrants and stock options with proportionate exercise price adjustments. No fractional shares will be issued; instead, stockholders will receive additional fractions to complete a full share. The split was approved by stockholders on November 12, 2024, with the Board approving the 1-for-9 ratio on November 11, 2024.
Dragonfly Energy (DFLI) reported Q3 2024 financial results with net sales of $12.7 million, down from $15.9 million in Q3 2023. The company posted a net loss of $6.8 million ($0.11 per share), improving from a $10.0 million loss in Q3 2023. Direct-to-consumer sales decreased by $5.2 million, while OEM revenue increased by $1.8 million. The company launched Dragonfly IntelLigence smart battery technology for heavy-duty trucking and expanded distribution through Keystone Automotive Operations. For Q4 2024, the company projects net sales between $13.5-$14.0 million with gross margins of 22.0-25.0%.
Dragonfly Energy (Nasdaq: DFLI) has announced a partnership with Keystone Automotive Operations, making Battle Born Batteries available through Keystone's distribution network. The partnership enables overnight or two-day delivery across 48 US states and 9 Canadian provinces through Keystone's eight distribution centers. Battle Born Batteries will be accessible to customers in multiple sectors, including recreational vehicle (through NTP-STAG), marine (through SeaWide), and overlanding and off-grid industries through Keystone Automotive.
Dragonfly Energy (DFLI) has signed a Memorandum of Understanding with Bruker (BRKR) to enhance battery technology development. The partnership combines Dragonfly's expertise in liquid and solid-state battery technology with Bruker's analytical solutions for battery research and manufacturing.
Dragonfly Energy utilizes Bruker's nuclear magnetic resonance (NMR) equipment to study lithium batteries, optimizing cell performance through their patented dry electrode process. The collaboration leverages multiple Bruker technologies including AFM, FT-IR, NMR, Raman, XRD, and XRF to advance battery development and manufacturing processes.
Dragonfly Energy (Nasdaq: DFLI), maker of Battle Born Batteries® and an energy storage leader, will release its Q3 2024 financial results on November 14, 2024, after market close. The announcement will be followed by a conference call at 5:00 PM Eastern Time. Investors can access the live webcast through the company's investor relations website or join via telephone by dialing (800) 549-8228 (North America) or +1 (289) 819-1520 (International) with conference ID: 64729.
Dragonfly Energy (NASDAQ: DFLI) reported Q2 2024 financial results, highlighting strategic partnerships and market expansion. Key developments include:
1. A $30 million licensing agreement with Stryten Energy for Battle Born Batteries®
2. Partnership with Highway Transport to integrate all-electric APUs into 500+ trucks
3. Collaboration with Fraserway RV and Meyer Distributing to expand RV market presence
Financial highlights:
- Net Sales: $13.2 million (down from $19.3 million in Q2 2023)
- Gross Profit: $3.2 million
- Net Loss: $(13.6) million
- EBITDA: $(8.4) million
Q3 2024 Guidance:
- Net Sales: $13.5 - $15.0 million
- Gross Margin: 24% - 26%
- Operating Expenses: $(10.0) - $(10.5) million
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