Dragonfly Energy (NASDAQ:DFLI) Posts Earnings Results, Misses Estimates By $0.12 EPS

Dragonfly Energy (NASDAQ:DFLI) posted its earnings results on Thursday. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.12), FiscalAI reports. The firm had revenue of $9.70 million for the quarter, compared to analyst estimates of $9.48 million.

Here are the key takeaways from Dragonfly Energy’s conference call:

• Dragonfly Energy said Q1 results came in above guidance for both net sales and adjusted EBITDA, even though the RV market remained soft.
• The company announced its largest trucking order to date, a more than $3 million Stevens Transport purchase covering nearly 500 trucks, with deliveries starting in Q2 and ramping through 2026.
• Management highlighted improving economics in heavy-duty trucking, saying higher diesel prices have shortened payback periods for its solutions to under 10 months, supporting fleet adoption.
• Dragonfly Energy implemented cost cuts that are expected to drive about $9 million in annualized adjusted EBITDA improvement, including workforce and marketing reductions plus lower rental expense.
• For Q2, the company guided to $13.2 million in net sales and a smaller adjusted EBITDA loss of about $1.9 million, while reiterating its long-term target of positive adjusted EBITDA at a roughly $70 million annualized sales run rate.

Dragonfly Energy Stock Down 1.5%

Shares of DFLI stock traded down $0.03 during trading hours on Thursday, hitting $1.93. 870,589 shares of the company were exchanged, compared to its average volume of 489,022. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.31 and a current ratio of 2.54. Dragonfly Energy has a one year low of $1.50 and a one year high of $26.10. The business’s 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $4.29. The stock has a market capitalization of $23.45 million, a price-to-earnings ratio of -0.06 and a beta of 0.19.

Hedge Funds Weigh In On Dragonfly Energy

Large investors have recently modified their holdings of the stock. State Street Corp bought a new position in shares of Dragonfly Energy during the fourth quarter worth about $39,000. OMERS ADMINISTRATION Corp bought a new position in shares of Dragonfly Energy during the fourth quarter worth about $47,000. Jane Street Group LLC bought a new stake in Dragonfly Energy during the fourth quarter valued at $266,000. Essex Investment Management Co. LLC bought a new stake in Dragonfly Energy during the fourth quarter valued at $602,000. Finally, Alyeska Investment Group L.P. bought a new stake in Dragonfly Energy during the fourth quarter valued at $2,285,000. Institutional investors own 8.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research cut shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. Wall Street Zen lowered shares of Dragonfly Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Finally, Canaccord Genuity Group decreased their price objective on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.25.

Dragonfly Energy Company Profile

Dragonfly Energy Corp. is a designer and manufacturer of lithium iron phosphate (LiFePO4) battery systems geared toward mobile, residential and commercial energy storage applications. The company develops modular battery packs and integrated power management solutions that focus on safety, long cycle life and compact form factors. Dragonfly’s core product lineup includes 12-volt and 24-volt battery modules, as well as multi-unit rack systems tailored for backup power, solar energy storage and off-grid installations.

Serving a broad range of end markets, Dragonfly Energy’s batteries are commonly deployed in recreational vehicles, marine vessels, overland expedition setups and residential solar arrays.