Dragonfly Energy Holdings Corp.

Listed Company

DFLIWCIK 0001847986NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthMiscellaneous Electrical Machinery, Equipment & SuppliesNevadaFY ends Dec 31

Period

FY 2025

Revenue

$58.63M

Net Income

$-69.94M

Total Assets

$86.55M

Equity

$11.53M

Shares Out

12.15M

Op. Cash Flow

$-25.97M

Business

Dragonfly Energy Holdings Corp. is a manufacturer of non-toxic deep-cycle lithium-ion batteries and developer of dry-electrode and solid-state cell technologies. It offers LFP battery packs, proprietary battery management systems, Dragonfly IntelLigence communication, Wakespeed alternator regulators, all-in-one lithium power packs, APUs and related accessories. The company operates two battery brands—Battle Born for direct-to-consumer sales and Dragonfly Energy for OEM engagements—and provides contract manufacturing and licensing services. It sells primarily in North America through DTC e-commerce, OEM relationships, distributors, dealers and strategic licensing agreements.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Sales	59	51	64	86	78
Cost of Goods Sold	43	39	49	63	48
Gross Profit	16	12	15	24	30
Research and development	3	5	4	3	3
General and administrative	23	22	26	42	11
Selling and marketing	10	10	13	14	10
Loss on impairment of right-of-use assets	3	—	—	—	—
Total Operating Expenses	39	37	43	58	23
Loss From Operations	−23	−26	−27	−34	6
Interest expense, net	−20	−22	−16	—	—
Other (expense) income	131,000	−36,000	19,000	40,000	1,000
Change in fair market value of warrant liability	5	7	30	5	—
Debt extinguishment	−32	—	—	−5	—
Total Other Expense	−47	−15	14	−6	−518,000
Net Loss Before Taxes	−70	−41	−14	−41	6
Income Tax Expense (Benefit)	−94,000	—	−26,000	−709,000	2
Net Loss	−70	−41	−14	−40	4
Less: Preferred Stock Dividends	−869,000	—	—	—	—
Net Loss Attributable to Common Shareholders	−71	−41	—	—	—
Loss Per Share- Basic	−14.8	−59.15	−2.36	−1.04	0.12
Loss Per Share- Diluted	−14.8	−59.15	−2.36	−1.04	0.11
Weighted Average Number of Shares - Basic	5	686,683	6	39	36
Weighted Average Number of Shares - Diluted	5	686,683	6	39	38

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	5	13	18	26
Accounts receivable, net of allowance for credit losses	4	2	2	1	783,000
Inventory	24	22	39	50	27
Prepaid expenses	1	806,000	772,000	2	293,000
Prepaid inventory	937,000	1	1	2	7
Prepaid income tax	353,000	307,000	519,000	525,000	—
Assets held for sale	—	644,000	—	—	—
Other current assets	1	825,000	118,000	267,000	2
Total Current Assets	50	33	56	74	66
Machinery and equipment	18	17	17	10	4
Office furniture and equipment	432,000	355,000	319,000	275,000	201,000
Leasehold improvements	8	9	2	2	1
Vehicle	33,000	33,000	33,000	195,000	195,000
Total	26	26	19	12	5
Less accumulated depreciation and amortization	−5	−4	−3	−2	−857,000
Property and Equipment, Net	21	22	16	11	4
Operating lease right of use asset, net	15	20	3	5	6
Other assets	388,000	445,000	—	—	—
Total Assets	87	75	75	89	76
Accounts payable	10	11	10	13	11
Accrued payroll and other liabilities	4	4	7	6	3
Accrued tariffs	943,000	2	—	—	—
Accrued settlement, current portion	—	750,000	—	—	—
Customer deposits	121,000	317,000	201,000	238,000	434,000
Deferred revenue, current portion	1	1	—	—	—
Uncertain tax position liability	—	55,000	—	—	—
Dividends Payable	317,000	—	—	—	—
Notes payable, current portion, net of debt issuance costs	433,000	—	20	19	2
Operating lease liability, current portion	3	3	1	1	1
Financing lease liability, current portion	35,000	47,000	36,000	10,000	—
Total Current Liabilities	20	22	40	41	18
Deferred revenue, net of current portion	3	4	—	—	—
Warrant liabilities	713,000	5	4	—	—
Accrued settlement, net of current portion	—	2	—	—	—
Notes payable, non current portion, net of debt issuance costs	9	30	—	—	37
Operating lease liability, net of current portion	20	23	2	4	5
Financing lease liability, net of current portion	28,000	63,000	66,000	35,000	—
Total Long-Term Liabilities	33	63	7	37	42
Total Liabilities	53	85	47	78	60
Commitments and Contingencies (See Note 5)	—	—	—	—	—
Preferred stock, 4,995,000 shares at $0.0001 par value, authorized, no shares issued and outstanding as of December 31, 2025 and 2024, respectively	—	—	—	—	—
Common stock, 400,000,000 shares at $0.0001 par value, authorized, 12,078,713 and 723,265 shares issued and outstanding as of December 31, 2025 and 2024, respectively	1,000	—	1,000	4,000	4,000
Additional paid in capital	164	73	69	38	4
Accumulated deficit	−152	−82	−42	−28	12
Total Stockholders Equity (Deficit)	12	−9	28	11	16
Total Liabilities, Series B Preferred Stock and Stockholders Equity (Deficit)	87	75	75	89	76

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock based compensation	714,000	1	7	2	734,000
Amortization of debt discount	8	7	1	2	206,000
Non-cash interest expense (paid-in kind)	12	10	5	1	—
Debt restructuring fees (paid-in-kind)	465,000	—	—	—	—
Provision for credit losses	140,000	3,000	114,000	108,000	50,000
Depreciation and amortization	2	1	1	891,000	617,000
Amortization of right of use of assets	2	2	1	—	—
Loss on disposal of property and equipment	199,000	—	116,000	56,000	124,000
Loss on impairment of assets	—	873,000	—	—	—
Write-off of prepaid inventory	—	69,000	596,000	—	—
Accounts receivable	−2	−780,000	−309,000	−769,000	1
Inventories	−3	17	11	−23	−21
Prepaid expenses	−282,000	170,000	852,000	−1	58,000
Prepaid inventory	425,000	−50,000	25,000	5	−6
Prepaid income tax	−46,000	—	—	—	—
Other current assets	−258,000	−707,000	149,000	2	−1
Other assets	57,000	−445,000	19,000	1	1
Accounts payable and accrued expenses	1	−4	−4	4	9
Operating lease liabilities	−3	−1	—	—	—
Accrued tariffs	−972,000	202,000	781,000	433,000	—
Accrued settlement	−3	3	—	—	—
Deferred revenue	−1	5	—	—	—
Uncertain tax position liability	−55,000	−36,000	−37,000	128,000	−19,000
Customer deposits	−196,000	116,000	−37,000	−196,000	−1
Total Adjustments	44	33	−4	−6	−18
Net Cash Used in Operating Activities	−26	−7	−18	−46	−14
Proceeds from sale of property and equipment	—	8,000	—	35,000	61,000
Purchase of property and equipment	−2	−3	−7	−7	−3
Net Cash Used in Investing Activities	−2	−3	−7	−7	−3
Proceeds from public offering	84	—	22	—	126
Proceeds from public offering (ATM), net	63,000	2	1	—	—
Proceeds from note payable, related party	—	3	1	—	45
Repayment of note payable, related party	—	−3	−1	—	—
Repayment of note payable	−49	—	−5	−45	—
Proceeds from preferred stock offering, net of fees	7	—	—	—	—
Principal payments on finance leases	−47,000	−45,000	—	—	—
Proceeds from exercise of options	—	4,000	586,000	706,000	184,000
Payment of debt financing fees	−465,000	—	—	—	—
Net Cash Provided by Financing Activities	41	2	20	42	39
Net Increase (Decrease) in cash and cash equivalents	13	−8	−5	—	—
Cash paid for income taxes	7,000	—	238,000	773,000	2,390
Cash paid for interest	5,000	6	9	2	313
Purchases of property and equipment, not yet paid	179,000	2	96,000	419,000	255,000
Recognition of right of use asset obtained in exchange for operating lease liability	642,000	19	—	—	6
Recognition of leasehold improvements obtained in exchange for operating lease liability	—	5	—	—	—
Recognition of machinery & equipment obtained in exchange for financing lease liability	—	53,000	—	—	—
Recognition of warrant liability - Investor Warrants	697,000	—	14	—	—
Conversion of preferred stock to common stock	7	—	—	—	—
Accrued dividends	317,000	—	—	—	—
Dividends paid in kind	79,000	—	—	—	—
Accretion of preferred stock discount	473,000	—	—	—	—
Conversion of notes payable to preferred shares	25	—	—	—	—
Recognition of warrant liability - Penny Warrants	—	7	698,000	—	—
Settlement of accrued liability for employee stock purchase plan	97,000	250,000	—	—	—
Reclassification of assets held for sale to machinery and equipment	644,000	—	—	—	—
Reclassification of assets held for sale	—	644,000	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro