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Overview
Dragonfly Energy Holdings Corp (Nasdaq: DFLI) is a comprehensive lithium battery technology company that is redefining energy storage through the production of non-toxic deep cycle lithium-ion batteries designed to replace traditional lead-acid systems. Emphasizing advanced lithium-ion technology and energy storage solutions, the company leverages innovative battery chemistries that not only offer enhanced performance but also contribute to a cleaner environment. Its operations target a wide array of applications including recreational vehicles, marine vessels, solar energy, and off-grid storage systems, making it a versatile player in the energy storage industry.
Products and Technology Innovation
At the core of Dragonfly Energy’s operations is its dedication to integrating cell manufacturing, battery pack assembly, and system integration. The renowned Battle Born Batteries brand exemplifies the company’s commitment to quality and reliability. Utilizing cutting-edge lithium iron phosphate (LFP) technology, its batteries offer significant advantages over legacy lead-acid systems by being non-toxic and avoiding the use of scarce or controversial metals. Their patented dry electrode manufacturing process further enables a chemistry-agnostic approach, laying the groundwork for future innovations such as nonflammable, all-solid-state battery cells.
Manufacturing Excellence and Quality Control
The company’s vertically integrated manufacturing model ensures that every component—from battery cell production to complete system assembly—is subject to rigorous quality control and innovation. This meticulous approach guarantees that the batteries perform reliably even under demanding conditions across multiple applications. Advanced techniques and state-of-the-art processes are employed to maximize efficiency and ensure that each battery delivers optimal performance, enhanced safety, and high energy density.
Environmental and Economic Advantages
One of the key strengths of Dragonfly Energy is its focus on sustainability. By prioritizing non-toxic LFP chemistry, the company provides a compelling alternative to traditional lead-acid batteries, thereby reducing environmental impact and promoting safer energy storage solutions. This steadfast commitment to environmentally friendly practices also appeals to consumers and industries looking for cost-effective and sustainable energy solutions. The product’s lifecycle is optimized for durability and performance while minimizing environmental risks.
Market Position and Competitive Landscape
Dragonfly Energy sits at a pivotal junction in the energy storage market, offering products that cater to a diverse customer base including top-tier OEMs and retail consumers. Its integrated approach to design, production, and assembly positions it strongly against competitors that rely on outdated technologies. The company’s innovation in manufacturing and its ability to adapt to various market needs provide it with a distinctive competitive edge in an industry that is continuously evolving. By balancing advanced technology with sustainability, Dragonfly Energy maintains its reputation as a reliable and forward-thinking battery solution provider.
Integrated Operations and Supply Chain Strength
Beyond simple battery production, Dragonfly Energy excels in creating comprehensive energy storage systems. Its operations cover the full spectrum from cell production to final integration, ensuring that each element of the supply chain meets stringent performance standards. This level of integration not only optimizes production efficiency but also strengthens the company’s overall market resilience by streamlining processes and reducing dependency on external components.
Key Differentiators
- Innovative Manufacturing Process: The patented dry electrode process supports a versatile, chemistry-agnostic production model, setting new benchmarks in battery technology.
- Sustainable Design: With non-toxic LFP batteries, the company offers environmentally friendly alternatives that minimize reliance on harmful or scarce resources.
- Vertical Integration: The integrated model covering cell production, assembly, and system integration ensures consistent quality and operational efficiency.
- Versatile Applications: Products are engineered for a broad range of applications from renewable energy systems to electric vehicles and consumer electronics.
Overall, Dragonfly Energy Holdings Corp delivers a robust portfolio of high-performance, sustainable, and versatile energy storage solutions. The company’s commitment to technological advancement, coupled with its focus on environmental sustainability and integrated operations, positions it as a significant entity within the advanced battery manufacturing sector.
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
Dragonfly Energy (Nasdaq: DFLI) is partnering with Highway Transport to integrate the Battle Born All-Electric APU into their fleet of over 500 trucks. This lithium-ion battery system provides auxiliary power for trucks, allowing operation of HVAC and electronics while the engine is off. The system is expected to reduce fuel costs and increase sustainability through emission reductions.
Highway Transport's commitment aligns with their Green Treads sustainability initiative. Initial trials have shown promising results, with the APU demonstrating the ability to power hotel loads for 12-16 hours, even in extreme heat. This partnership marks a significant step for Dragonfly Energy in penetrating the commercial trucking industry with lithium power solutions, potentially paving the way for wider adoption in the sector.
Dragonfly Energy (Nasdaq: DFLI) has entered into a $30 million licensing agreement with Stryten Energy for its Battle Born Batteries® brand. The deal grants Stryten exclusive rights to market and distribute Battle Born Batteries in new B2B markets, including military, automotive, marine, power sports, lawn and garden, and golf cart applications.
The agreement includes an initial $5 million licensing fee and potential mid-single digit royalty payments up to an additional $25 million. Dragonfly Energy will continue its operations in existing markets such as RV, off-grid properties, and stationary storage. The partnership aims to expand brand awareness and market reach while offering Stryten's customers reliable lithium-based power solutions.
Stryten Energy and Dragonfly Energy (Nasdaq: DFLI) have announced a strategic partnership worth potentially over $30 million. Stryten will gain exclusive rights to market and distribute Dragonfly's Battle Born Batteries brand of lithium-ion batteries globally in most B2B markets. The agreement also includes domestic contract manufacturing of Battle Born products for Stryten's sale.
This partnership aims to provide Stryten's customers with a complete lithium battery portfolio, meeting growing consumer demand across multiple industries, including marine, golf cart, and power sports applications. The collaboration will support a U.S.-based vertically integrated supply chain and an end-of-life battery collection and recycling program for consumer lithium batteries in the retail aftermarket.
Stryten plans to launch production in early 2025, initially supporting military and industrial customers. The company will utilize Advanced Manufacturing Production Credits to accelerate its investment in domestic lithium battery assembly production.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), a leading energy storage company and maker of Battle Born Batteries®, has announced its plans to release second quarter 2024 financial and operational results on August 14, 2024, after market close. The company will host a conference call and live webcast on the same day at 5:00 PM Eastern Time to discuss the results.
Investors and interested parties can access the webcast through a link provided or via the Events and Presentations page on Dragonfly Energy's investor relations website. For those preferring to join by phone, toll-free and international dial-in numbers are available. Participants are advised to log in or dial in at least 10 minutes before the event starts. An archive of the webcast and the earnings press release will be made available on the company's website shortly after the call.
Dragonfly Energy has announced a strategic partnership with Fraserway RV, Canada's largest coast-to-coast RV dealer. This collaboration will see Fraserway RV stock and install Dragonfly Energy's Battle Born Batteries, enhancing their customer offerings with sustainable and powerful energy solutions. With the Canadian RV market experiencing a significant growth, this partnership is well-timed to capitalize on the increased demand for outdoor recreation. Since 2014, camping households in Canada have increased by 68%, making it a lucrative market for Dragonfly Energy. The company aims to provide enhanced, eco-friendly customer experiences with this expansion.
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