Business
Dragonfly Energy Reports Second Quarter 2024 Financial and Operational Results
Dragonfly Energy entered into a $30 million licensing agreement with Stryten Energy, a leading North American battery manufacturer, to allow for expansion of
About this update from Dragonfly Energy Holdings Corp
[{"type":"text","content":"Dragonfly Energy entered into a $30 million licensing agreement with Stryten Energy, a leading North American battery manufacturer, to allow for expansion of Battle Born Batteries® products into new markets The Company announced progress in bringing its lithium battery technology to the trucking sector, including a new partnership with Highway Transport to integrate Dragonfly Energy’s all-electric auxiliary power units (“APUs”) into Highway Transport’s fleet of over 500 trucks The Company achieved continued market share growth in the recreational vehicle (“RV”) segment through partnership with Fraserway RV, Canada’s largest nationwide RV dealer, as well as Meyer Distributing, a leading North American specialty products distributor, both of which extended Dragonfly Energy’s reach and presence across North America RENO, Nev., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), maker of Battle Born Batteries® and an industry leader in energy storage, today reported its financial and operational results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Net Sales were $13.2 million, compared to $19.3 million in Q2 2023Gross Profit was $3.2 million, compared to $3.9 million in Q2 2023Operating expenses were $(9.9) million, compared to $(12.5) million in Q2 2023Net Loss of $(13.6) million, compared to Net Loss of $(11.9) million in Q2 2023Diluted Net Loss per share was $(0.22), compared to Net Loss of $(0.25) per share in Q2 2023EBITDA was $(8.4) million, compared to $(7.5) million in Q2 2023Adjusted EBITDA was $(6.2) million, compared to $(5.7) million in Q2 2023 Operational and Business Highlights Entered into $30 million licensing agreement for Battle Born Batteries Brand with Stryten Energy, a leading North American battery manufacturer (link)Announced partnership with Highway Transport, a North American leader in liquid chemical transportation, to begin integrating Dragonfly Energy’s all-electric APUs into Highway Transport’s fleet of over 500 trucks (link)Partnered with Refreshment Services Pepsi, an independent distributor of Pepsi-Cola products, to provide new liftgate battery systems (link)Partnered with Fraserway RV, Canada's largest coast-to-coast RV dealership group, to strengthen Dragonfly Energy’s presence in the Canadia...