---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017415"
form_type: "8-K"
ticker: "DFLI"
cik: "0001847986"
company_name: "Dragonfly Energy Holdings Corp."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:36:09.310268+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Dragonfly Energy Q1 revenue up 2.7% to $18.8M; net income $4.9M on warrant gain; Q2 outlook loss $9.5-12.5M

## Summary
- Net sales $18.8M, +2.7% YoY; gross profit $4.7M, down $0.8M due to mix shift to lower-margin OEM sales.
- Net income $4.9M (diluted EPS $0.10) vs net loss $(2.3)M; benefited from $18.5M fair value gain on warrants.
- Adjusted EBITDA loss $(5.0)M, wider than $(0.4)M in prior year; operating expenses rose to $(14.6)M including $3.6M stock comp.
- Q2 2023 guidance: net sales $18-$22M; net loss $(9.5)-$(12.5)M or $(0.21)-$(0.27) per share.
- Ended Q1 with $15.8M cash, $77.4M debt; $150M equity line of credit available.

## SEC filing metadata
- accession: 0001493152-23-017415
- form_type: 8-K
- ticker: DFLI
- cik: 0001847986
- company_name: Dragonfly Energy Holdings Corp.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847986/000149315223017415/0001493152-23-017415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847986/000149315223017415/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017415
- JSON: https://secwatch.observer/filing/0001493152-23-017415.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017415.txt

## Key facts
- Earnings Releases
  Dragonfly Energy Holdings Corp. reported First Quarter 2023 results: revenue $18.8 million, net income $4.9 million, EPS $0.10 per diluted share. Guidance initiated.
  - Period: First Quarter 2023
  - Revenue: $18.8 million
  - Net income: $4.9 million
  - EPS: $0.10 per diluted share
  - Guidance: initiated
  - Result: reported results
  source text: ● Net Sales of $18.8 million increased 2.7% from $18.3 million in Q1 2022 ● Gross Profit of $4.7 million decreased $0.8 million from $5.5 million in Q1 2022 ● Operating expenses of $(14.6) million were higher compared to $(7.1) million in Q1 2022 ● Net Income of $4.9 million, compared to a Net Loss of $(2.3) million in Q1 2022 ● Diluted Earnings Per Share of $0.10 compared to $(0.06) in Q1 2022 ● EBITDA of $9.0 million, compared to $(1.4) million in Q1 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847986/000149315223017415/0001493152-23-017415-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.