From GlobeNewswire: 2025-03-24 16:05:00

Dragonfly Energy Holdings Corp. reported a 17% revenue growth in the fourth quarter of 2024, led by significant OEM growth. The company also completed a debt restructuring and raised capital, enhancing its financial position. A corporate optimization program has been initiated with a target of positive Adjusted EBITDA in the fourth quarter of 2025, and first-quarter net sales guidance of approximately $13.3 million.

Despite challenges in the RV market, Dragonfly Energy saw a 17% growth in fourth-quarter net sales, driven by increased adoption among OEM customers. The company aims to achieve positive Adjusted EBITDA by the fourth quarter of 2025. Full-year 2024 results showed a decline in DTC net sales but flat OEM net sales, leading to a net loss of $(40.6) million.

Dragonfly Energy’s financial results for the full year 2024 indicate a net sales decline to $50.6 million, with flat OEM net sales offset by a drop in DTC net sales. The company reported a gross profit of $11.6 million and a net loss of $(40.6) million. Adjusted EBITDA was negative $(18.5) million for the year.

The company’s fourth-quarter 2024 results showed a net sales increase of 17% to $12.2 million, with OEM net sales growing by 61% driven by product adoption. Gross profit increased to $2.6 million, but operating expenses rose to $(6.3) million, resulting in a net loss of $(9.8) million. Adjusted EBITDA was negative $(2.3) million.

Dragonfly Energy provided financial guidance for the first quarter of 2025, with expected net sales of approximately $13.3 million and Adjusted EBITDA of approximately $(3.8) million. The company is focused on advancing energy storage solutions through lithium battery technology, aiming for continued growth, diversification, and innovation in 2025.

To learn more about Dragonfly Energy’s commitment to clean energy advancements, visit their website. The company’s forward-looking statements are subject to risks and uncertainties outlined in their financial reports for investors. Dragonfly Energy’s management will host a conference call to discuss 2024 financial results, with webcast access available on their website.

Dragonfly Energy’s financial results for the fourth quarter and full year of 2024 are pending audit completion and will be included in the Form 10-K filing. The company’s balance sheet shows current assets of $32.9 million and total assets of $75.2 million as of December 31, 2024. Operating expenses, net sales, and adjusted EBITDA are key financial metrics for investors to consider.



Read more at GlobeNewswire:: Dragonfly Energy Reports Fourth Quarter and Full Year 2024