Dragonfly Energy Sees 17% Sales Growth in Q4 2024

Published 4 hours agoDFLI

Dragonfly Energy Sees 17% Sales Growth in Q4 2024

Dragonfly Energy Holdings Corp. reported a substantial uptick in net sales for the fourth quarter of 2024, reaching $12.2 million, which marks a 17% increase compared to the same period in 2023. Despite the revenue growth, the company faced a net loss of $9.8 million and an Adjusted EBITDA loss of $2.0 million, as higher material costs and a shift towards OEM sales affected the gross margin, which decreased to 20.8% from 21.6% in the previous year.

To bolster its financial footing, Dragonfly Energy undertook a successful debt restructuring, converting short-term obligations into long-term debt. Additionally, the company secured new capital from a strategic investor to enhance liquidity. It also launched a corporate optimization program aimed at increasing operational efficiency and aligning with revenue growth initiatives. Notably, Dragonfly Energy entered into a partnership with Highway Transport to integrate all-electric Auxiliary Power Units into their trucking fleet, signaling a strategic move into the trucking market.

Looking ahead to 2025, Dragonfly Energy is targeting a first-quarter net sales figure of approximately $13.3 million and aims for a positive Adjusted EBITDA by the fourth quarter. The company plans to focus its expansion efforts in the trucking, industrial, and RV markets, with particular emphasis on increasing its footprint in the trucking sector, which is expected to contribute significantly to its revenue growth. These initiatives highlight Dragonfly Energy’s strategy to diversify and solidify its presence across key market segments.

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