Saturday, 18 May 2024
Trending

Investing

CORRECTION “ Dragonfly Energy Reports First Quarter 2024 Financial and Operational Results By Investing.com

MBIA Inc. Reports First Quarter 2024 Financial Results By Investing.com


Please see the updated press release below, which includes previously omitted tables reconciling non-GAAP financial measures.

  • Dragonfly Energy has continued its expansion into the trucking industry, taking new orders for both its Battle Born ® All-Electric APUs and Battle Born ® Liftgate Power Systems from fleet operators since the beginning of 2024.
  • The Company is announcing certification of its energy storage products for use in oil & gas operations in North America, and identification of first customer within the sector.
  • The Company anticipates a continuing recovery in the RV market throughout 2024, which is expected to benefit the OEM business line, particularly with ongoing market share growth.

RENO, Nev., May 15, 2024 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Dragonfly Energy or the Company) (Nasdaq: DFLI), maker of Battle Born Batteries ® and an industry leader in energy storage, 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
  • EBITDA was $(5.3) million, compared to $8.9 million in Q1 2023
  • Adjusted EBITDA was $(5.2) million, compared to $(5.1) million in Q1 2023

Operational and Business Highlights

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
  • The Company has begun taking orders for its Battle Born ® All-Electric auxiliary power units (APUs) and Battle Born ® Liftgate Power Systems from trucking providers and fleet operators
  • Today announced certification of the Company’s energy storage products for use in oil & gas operations in North America
  • Announced partnership with the National Forest Foundation to plant trees in honor of Earth Day (link)
  • Announced the results of a cost and sustainability assessment of the Company’s patented dry electrode battery manufacturing process, which concluded that Dragonfly Energy’s process was significantly more sustainable than conventional battery cell manufacturing processes (link)
  • Announced partnership with Velociti Inc. to provide the Company’s customers access to Velociti’s Instant ROI and…

Click Here to Read the Full Original Article at All News…