Dragonfly Energy Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q3 sales declined amid RV and consumer softness, but trucking adoption accelerated and cost reductions supported adjusted EBITDA ahead of guidance. Q4 guidance targets approximately break-even adjusted EBITDA, with trucking growth and tariff-related refunds expected to help.
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Q2 net sales reached $13.2 million with improved adjusted EBITDA, driven by cost actions and initial heavy-duty trucking revenue. The Dakota Lithium acquisition expands product reach and is expected to be accretive in Q4. RV market softness persists, but trucking and industrial segments show growth potential.
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Q1 results exceeded guidance with strong trucking momentum and cost reductions, despite a soft RV market. Major trucking orders and improved ROI drive optimism for 2024, while cost actions and new IP position the company for profitability and growth.
Fiscal Year 2025
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Net sales rose 16% in 2025, led by strong OEM growth and new commercial wins in trucking, rail, and marine. Cost realignment and capital actions improved liquidity, with positive adjusted EBITDA targeted as revenue scales. Near-term headwinds persist, but outlook is optimistic.
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Q3 saw 26% revenue growth and a 710 bps gross margin expansion, driven by OEM strength and operational improvements. Balance sheet was significantly strengthened via $90M capital raise and debt restructuring, positioning for growth in 2026, especially in trucking.
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Net sales rose 23% year-over-year to $16.2 million, led by over 50% growth in the OEM segment and improved gross margin. Strategic partnerships, new product innovation, and capital structure simplification position the company for continued growth despite macro and tariff headwinds.
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Q1 2025 saw 6.8% revenue growth, led by OEM sales, with improved gross margin and a narrowed net loss. Strategic investments in product development and domestic manufacturing position the company for continued growth, despite ongoing tariff and macroeconomic challenges.
Fiscal Year 2024
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Q4 revenue grew 17% year-over-year, led by strong OEM sales and trucking sector momentum. Debt restructuring and a corporate optimization program improved financial flexibility, with positive adjusted EBITDA targeted for Q4 2025.
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Q3 2024 saw lower total sales due to weak direct-to-consumer demand, but OEM and trucking revenues grew, aided by new smart battery products and partnerships. Cash position improved, and Q4 is expected to be the strongest quarter, with growth in trucking, DTC, and new verticals.
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Q2 2024 saw lower sales and continued losses, but progress in market diversification, a major licensing deal, and new certifications position the company for growth. Revenue is expected to rebound in Q3 and ramp further in Q4 as new initiatives gain traction.