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Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) is a pioneering manufacturer of deep-cycle lithium-ion batteries that cater to a diverse range of applications including RVs, marine vessels, and off-grid solar systems. Headquartered in Nevada, the company has established itself as a leader in the market with its innovative, non-toxic Lithium Iron Phosphate (LFP) batteries, designed to replace traditional lead-acid batteries.
The company's LFP batteries offer numerous advantages, such as being environmentally friendly, non-toxic, and not reliant on scarce or controversial metals. These batteries are highly cost-effective, provide significant weight savings, and deliver up to three times the power and five times faster charging compared to conventional batteries. They also boast a longer lifespan, lasting over ten times longer than traditional batteries, and are maintenance-free.
Dragonfly Energy has filed and holds over 85 patents, showcasing its strong commitment to research and development. The company's innovative battery technology is fundamental to its new ventures into the off-grid solar sector. Partnering with companies like Ameresco and Connexa, Dragonfly Energy is now expanding into industrial remote applications, offering self-sustaining, reliable, and scalable solar energy storage solutions.
The company is also known for its stringent safety and quality standards. Its batteries undergo rigorous testing and have received multiple certifications, including ETL Listing by Intertek Lab, and conformance to UL, CSA, and UN standards. This dedication to safety and quality allows Dragonfly Energy to seamlessly transition into new markets, setting it apart from competitors.
With the stationary battery storage market expected to reach $870 billion by 2032, Dragonfly Energy is strategically positioned to capitalize on this growth. Its diverse product line addresses various energy needs, making it a key player in the renewable energy sector. The company's Battle Born Batteries are already gaining traction in the RV industry, being adopted as standard equipment by luxury coach divisions.
Dragonfly Energy's commitment to innovation and sustainability makes it a pivotal company in the renewable energy landscape. Its focus on developing solid-state lithium-ion cells and vertically integrated energy solutions ensures it remains at the forefront of the industry.
Dragonfly Energy Holdings (Nasdaq: DFLI) announces a partnership with Airstream, integrating Battle Born Batteries as standard equipment in select travel trailer models. This collaboration addresses the common 'battery anxiety' among RV consumers, enhancing their camping experience.
Airstream's President, Bob Wheeler, emphasizes the goal of improved utility and comfort in camping. Dragonfly has also been recognized as a Five Rivet Supplier by Airstream for excellence in quality, delivery, cost, and service.
Dragonfly's CEO, Dr. Denis Phares, expresses excitement over the partnership's future opportunities, further strengthened by their existing connection with THOR Industries.
Dragonfly Energy Holdings Corp. (DFLI) filed its Annual Report on Form 10-K on April 17, 2023, and updated its financial results for the fourth quarter and full year 2022. Key adjustments were made, reflecting changes in operating expenses and net losses due to $19.8 million in deal-related expenses from a prior Business Combination, now classified as general and administrative expenses. These adjustments do not affect net sales or gross profit. Significant figures include:
- Operating Expenses: Increased from $12,481K to $32,941K for Q4 and from $37,541K to $58,001K for the full year.
- Net Loss: Adjusted from $11,655K to $32,115K for Q4 and from $19,111K to $39,571K for the full year.
- EBITDA: Adjusted from $7,843K to $27,593K for Q4 and from $12,645K to $32,444K for the full year.
Dragonfly Energy Holdings Corp. (DFLI) reported its 2022 financial results, with revenue up to $86.3 million, a 10.6% increase from 2021. In Q4 2022, net sales remained stable at $20.2 million, while gross profit fell to $4.4 million from $6.1 million in Q4 2021. Operating expenses surged to $(12.5) million, leading to a net loss of $(11.7) million for the quarter. For 2023, the company anticipates net sales between $112-$122 million, driven by OEM growth, with expected net losses of $(10.5)-$(11.5) million in Q1.
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