Q2 2025 Dragonfly Energy Holdings Corp Earnings Call Transcript
Key Points
- Net sales grew 23% to $16.2 million, marking the third consecutive quarter of year-over-year revenue growth.
- OEM net sales increased by over 50% year over year, driven by strong partnerships and integration of solutions at the factory level.
- Gross profit rose 45.4% to $4.6 million, with gross margin expanding by 430 basis points to 28.3%.
- The company successfully completed a public offering, raising $5.5 million to support expansion and strengthen financial flexibility.
- Dragonfly Energy Holdings Corp (DFLI) was granted a patent for its nonflammable all solid-state battery program, enhancing safety and scalability.
- Net sales in the DTC segment decreased to $5.9 million from $6.5 million due to ongoing macroeconomic uncertainty.
- Operating expenses totaled $7.9 million, although down from $9.9 million, still contributing to a net loss.
- The company reported a net loss of $7.0 million or $0.58 per share, though improved from a previous net loss of $13.6 million.
- Adjusted EBITDA remained negative at $2.2 million, despite improvements from the previous quarter.
- The heavy-duty trucking market remains challenging, with significant adoption expected only in the first half of next year.
Good afternoon, and welcome to Dragonfly Energy's second-quarter 2025 earnings call. (Operator Instructions)
I'll now turn the call over to [Simon Surowiecki], Investor Relations. Please go ahead.
Thank you, operator. We appreciate you joining us for today's call. Joining me here are Dr. Denis Phares, Dragonfly Energy's Chairman, President and Chief Executive Officer; and Wade Seaburg, Chief Commercial Officer.
Before turning the call over to Denis, I'd like to make a brief statement regarding forward-looking remarks.
During this call, the company will be making forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 based on current expectations. These forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Actual results may differ due to factors noted in the press release and in periodic SEC filings.
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