Dragonfly Energy (NASDAQ:DFLI) Releases Quarterly Earnings Results

Dragonfly Energy (NASDAQ:DFLI) released its quarterly earnings results on Thursday. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.12), FiscalAI reports. The business had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.48 million.

Here are the key takeaways from Dragonfly Energy’s conference call:

• Dragonfly Energy said Q1 results came in above guidance for both net sales and adjusted EBITDA, even though the RV market remained soft.
• The company announced its largest trucking order to date, a more than $3 million Stevens Transport purchase covering nearly 500 trucks, with deliveries starting in Q2 and ramping through 2026.
• Management highlighted improving economics in heavy-duty trucking, saying higher diesel prices have shortened payback periods for its solutions to under 10 months, supporting fleet adoption.
• Dragonfly Energy implemented cost cuts that are expected to drive about $9 million in annualized adjusted EBITDA improvement, including workforce and marketing reductions plus lower rental expense.
• For Q2, the company guided to $13.2 million in net sales and a smaller adjusted EBITDA loss of about $1.9 million, while reiterating its long-term target of positive adjusted EBITDA at a roughly $70 million annualized sales run rate.

Dragonfly Energy Trading Down 1.5%

NASDAQ DFLI traded down $0.03 during mid-day trading on Thursday, hitting $1.93. The company’s stock had a trading volume of 870,589 shares, compared to its average volume of 489,022. Dragonfly Energy has a 52-week low of $1.50 and a 52-week high of $26.10. The stock’s fifty day simple moving average is $2.13 and its two-hundred day simple moving average is $4.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.54 and a quick ratio of 1.31. The firm has a market capitalization of $23.45 million, a P/E ratio of -0.06 and a beta of 0.19.

Analyst Ratings Changes

DFLI has been the topic of several analyst reports. Zacks Research cut shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Canaccord Genuity Group decreased their price target on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Wall Street Zen cut shares of Dragonfly Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Dragonfly Energy has an average rating of “Hold” and an average price target of $3.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp acquired a new position in shares of Dragonfly Energy during the fourth quarter worth $39,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Dragonfly Energy during the fourth quarter worth $47,000. Jane Street Group LLC acquired a new position in shares of Dragonfly Energy during the fourth quarter worth $266,000. Essex Investment Management Co. LLC acquired a new position in shares of Dragonfly Energy during the fourth quarter worth $602,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Dragonfly Energy during the fourth quarter worth $2,285,000. 8.19% of the stock is owned by institutional investors and hedge funds.

Dragonfly Energy Company Profile

Dragonfly Energy Corp. is a designer and manufacturer of lithium iron phosphate (LiFePO4) battery systems geared toward mobile, residential and commercial energy storage applications. The company develops modular battery packs and integrated power management solutions that focus on safety, long cycle life and compact form factors. Dragonfly’s core product lineup includes 12-volt and 24-volt battery modules, as well as multi-unit rack systems tailored for backup power, solar energy storage and off-grid installations.

Serving a broad range of end markets, Dragonfly Energy’s batteries are commonly deployed in recreational vehicles, marine vessels, overland expedition setups and residential solar arrays.