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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 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.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) will announce its financial results for the fourth quarter and year ending December 31, 2022, on March 29, 2023, after market close. The earnings announcement will be followed by a conference call at 5:00 PM ET, accessible via live webcast on the company’s Investor Relations page. Dragonfly is a leader in deep cycle lithium-ion storage batteries, focusing on innovative energy storage solutions, including solid-state cell technology for smart grids. Interested parties can access the call details and future earnings archives on the company’s website.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) will release its financial results for Q4 and the year ended December 31, 2022, on March 20, 2023, after market close. This announcement will be followed by a conference call at 5:00 PM ET, where the management team will discuss the results. Investors can access a live webcast via the company’s Investor Relations page or dial in directly. Dragonfly specializes in deep cycle lithium-ion storage batteries and aims to innovate the energy storage sector through advanced technologies, including the upcoming deployment of proprietary solid-state cell technology.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) announced its new Dragonfly IntelLigence™ technology, enhancing safety and monitoring for lithium power systems in the marine industry. This product line complies with the ABYC E-13 Standards, which focus on low voltage alerts and shutdown notifications. Dragonfly IntelLigence™ features include smart communication, hybrid system balancing, and remote monitoring through the Dragonfly Energy Mobile App. This innovation aims to address safety concerns associated with lithium-ion batteries while providing reliable power solutions. The products will be available in spring 2023, aligning with the upcoming industry requirements.
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