Dragonfly Energy Q2 loss $11.7M, revenue $19.3M; largest RV customer de-contenting to materially limit H2 2023

Dragonfly Energy Holdings Corp.

2023-Q2 EPS reported -$0.15 revenue$434

Net sales $19.3M (down 11% from $21.6M); gross profit $4.1M (down 41% from $7.0M).
Net loss $(11.7M) vs $(1.5M) loss year ago; diluted EPS $(0.25).
Largest RV customer converted storage from standard to dealer option; all forecasted revenue removed for remainder of 2023.
Q3 outlook: net sales $16-20M, net loss $(10)-(13)M ($0.21-$0.27 per share).
Cash $33M; $150M equity line; pilot cell line complete; full cell production targeted by year end.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dragonfly Energy Holdings Corp. reported second quarter ended June 30, 2023 results: revenue $19.3 million, net income $(11.7) million, EPS $(0.25) per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $19.3 million
Net income: $(11.7) million
EPS: $(0.25) per diluted share
Result: reported results

Exact text from the filing

storage batteries, today reported its financial and operational results for the second quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights ● Net Sales were $19.3 million, compared to $21.6 million in Q2 2022 ● Gross Profit was $4.1 million, compared to $7.0 million in Q2 2022 ● Operating expenses were $(12.5) million, compared to $(7.6) million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dragonfly Energy Holdings Corp. reported Q3 2023 results: revenue between $16.0 - $20.0 million, net income between $(10.0) - $(13.0) million, EPS between $(0.21) - $(0.27) per share.

Period: Q3 2023
Revenue: between $16.0 - $20.0 million
Net income: between $(10.0) - $(13.0) million
EPS: between $(0.21) - $(0.27) per share
Result: guidance update

Exact text from the filing

Net Sales are expected to range between $16.0 - $20.0 million, impacted by overall softer demand from the RV market

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Source: SEC EDGAR

accession 0001493152-23-029635

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