Welcome to our dedicated page for Dragonfly Energy news (Ticker: DFLIW), a resource for investors and traders seeking the latest updates and insights on Dragonfly Energy stock.
About Dragonfly Energy Holdings Corp. (DFLIW)
Dragonfly Energy Holdings Corp. is a pioneering company in the energy storage industry, specializing in the design, manufacturing, and integration of advanced lithium-ion battery solutions. Focused on replacing traditional lead-acid batteries, Dragonfly Energy delivers sustainable, non-toxic, and cost-effective energy storage systems tailored for a variety of applications, including recreational vehicles (RVs), marine vessels, off-grid solar installations, and backup power systems. The company is recognized for its commitment to innovation, particularly through its development of disruptive solid-state battery technologies and its patented dry electrode manufacturing process.
Core Business and Value Proposition
Dragonfly Energy's core business revolves around the production and distribution of lithium iron phosphate (LFP) batteries. These batteries offer numerous advantages over traditional lead-acid counterparts, including longer lifespans, higher energy efficiency, and a significantly reduced environmental impact. Unlike many competitors, Dragonfly Energy's products avoid reliance on scarce or controversial metals, making them a sustainable choice for both consumers and industries. The company's flagship brand, Battle Born Batteries®, has established a strong reputation for reliability and performance, with its products widely deployed through top-tier OEMs and a diverse retail customer base.
Innovative Technology and Manufacturing
A key differentiator for Dragonfly Energy is its proprietary dry electrode manufacturing process, which enables the production of chemistry-agnostic battery cells. This process not only reduces production costs but also enhances the scalability of battery manufacturing, positioning the company as a leader in domestic lithium battery production. Additionally, Dragonfly Energy is actively developing nonflammable, solid-state battery technology, which holds the potential to revolutionize energy storage by offering safer, more efficient, and longer-lasting solutions.
Market Presence and Applications
Dragonfly Energy operates at the intersection of multiple high-growth markets, including renewable energy, electric vehicles (EVs), and portable power solutions. Its batteries are widely used in RVs, boats, off-grid solar systems, and other applications that demand reliable and efficient energy storage. By addressing the limitations of traditional energy storage systems, Dragonfly Energy has positioned itself as a key player in the transition toward cleaner and more sustainable energy solutions.
Competitive Landscape and Differentiation
In a competitive energy storage market, Dragonfly Energy distinguishes itself through its focus on environmentally friendly battery chemistries, innovative manufacturing techniques, and a strong emphasis on customer satisfaction. Its ability to produce high-quality, sustainable batteries at a competitive cost gives it a strategic advantage over traditional battery manufacturers. Furthermore, its alignment with broader industry trends, such as the electrification of transportation and the decentralization of energy grids, underscores its relevance and growth potential within the sector.
Commitment to Sustainability
Dragonfly Energy's mission extends beyond technological innovation to include a strong commitment to environmental sustainability. By producing non-toxic, recyclable batteries that do not rely on scarce resources, the company contributes to the global push for cleaner energy solutions. Its products are designed to support the growing demand for renewable energy storage, helping to reduce reliance on fossil fuels and promote energy independence.
Conclusion
Dragonfly Energy Holdings Corp. is a trailblazer in the energy storage industry, offering cutting-edge lithium battery solutions that combine sustainability, efficiency, and reliability. With its patented technologies, diverse market applications, and unwavering commitment to innovation, the company is well-positioned to meet the evolving needs of a world increasingly focused on clean energy and sustainable practices.
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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