Dragonfly Energy Q1 net sales fall 33% to $12.5M; net loss of $10.4M vs income of $4.8M YoY

Dragonfly Energy Holdings Corp.

2024-Q1 EPS reported -$0.17 revenue$12,505,000

Net sales $12.5M, down from $18.8M in Q1 2023; DTC sales fell $4.8M, OEM revenue down $1.5M.
Net loss of $10.4M ($0.17 loss per share) vs net income of $4.8M ($0.10 per share) in prior year.
Adjusted EBITDA loss of $5.2M, roughly flat vs $5.1M loss a year ago; cash dropped to $8.5M from $12.7M.
Q2 2024 guidance: net sales $14-15M, net loss $8-10M ($0.13-0.16 loss per share); gross margin 24-26%.
Entering trucking with APU/liftgate orders; oil & gas certification with first customer (Alegacy).

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 first quarter ended March 31, 2024 results: revenue $12.5 million, net income $(10.4) million, EPS $(0.17).

Period: first quarter ended March 31, 2024
Revenue: $12.5 million
Net income: $(10.4) million
EPS: $(0.17)
Result: reported results

Exact text from the filing

today reported its financial and operational results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights ● Net Sales were $12.5 million, compared to $18.8 million in Q1 2023 ● Gross Profit was $3.1 million, compared to $4.7 million in Q1 2023 ● Operating expenses were $(8.9) million, compared to $(14.6) million in Q1 2023 ● Net Loss of $(10.4) million, compared to Net Income of $4.8 million in Q1 2023 ● Diluted Net Loss per share was $(0.17), compared to Net Income of $0.10 per share in Q1 2023

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Source: SEC EDGAR

accession 0001493152-24-019249

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