# Dragonfly Energy Holdings Corp. (DFLI)

**Exchange:** NASDAQ  
**Sector:** Industrials  
**Market cap:** $8M  
**Price:** $1.76 (+0.28%)

> Dragonfly Energy Holdings Corp. is a lithium battery technology company specializing in the manufacturing and sale of deep cycle lithium-ion batteries, primarily lithium iron phosphate (LiFePO4) chemistry, for recreational vehicles, marine vessels, solar and off-grid residences, heavy-duty trucking, rail, and industrial energy storage markets. The company operates through direct-to-consumer and original equipment manufacturer segments, providing comprehensive lithium power systems that include solar panels, chargers, inverters, system monitoring tools, alternator regulators, and accessories. It also develops battery management systems to monitor, control, and protect battery cells from damage. Dragonfly Energy Holdings Corp. offers products under the Dragonfly Energy, Battle Born, and Wakespeed brand names, featuring advanced technologies such as Dragonfly IntelLigence communication, state-of-the-art battery management, and premium UL-listed cylindrical cells. The company emphasizes vertical integration across cell manufacturing, battery pack assembly, and full system integration, serving leading OEMs with custom-engineered solutions for robust, sustainable energy storage. Founded in 2020 and headquartered in Reno, Nevada, it plays a key role in advancing domestic lithium battery production and clean energy applications.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $59M | $16M | -$23M | -$70M | $-14.80 |
| 2024 | $51M | $12M | -$26M | -$41M | $-59.15 |
| 2023 | $64M | $15M | -$27M | -$14M | $-2.36 |
| 2022 | $86M | $24M | -$34M | -$40M | $-1.04 |
| 2021 | $78M | $30M | $6M | $4M | $0.11 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $87M | $53M | $12M | $18M | $19M |
| 2024 | $75M | $85M | -$9M | $5M | $86M |
| 2023 | $75M | $47M | $28M | $13M | $76M |
| 2022 | $89M | $78M | $11M | $18M | $76M |
| 2021 | $76M | $60M | $16M | $26M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$26M | $2M | -$28M |
| 2024 | -$7M | $3M | -$10M |
| 2023 | -$18M | $7M | -$25M |
| 2022 | -$46M | $7M | -$53M |
| 2021 | -$14M | $3M | -$17M |

Source: [CompaniesByCap](https://companiesbycap.com/company/DFLI)