DFLIW · Dragonfly Energy Holdings Corp.

Dragonfly Energy Holdings Corp. reported first quarter 2026 results reflecting a challenging RV market environment, with net sales declining 27.3% year-over-year to $9.7 million. OEM sales, comprising 59% of total, fell 28.9% to $5.8 million, while direct-to-consumer sales dropped 26.2% to $3.7 million, driven by softer demand in core RV channels. Gross margin contracted sharply to 17.6% from 29.4% due to lower battery and accessory volumes, resulting in gross profit of $1.7 million versus $3.9 million last year. Operating expenses decreased to $7.4 million from $9.8 million, aided by targeted cost reductions. This led to a net loss attributable to common shareholders of $7.7 million, or $(0.64) per diluted share, and Adjusted EBITDA loss of $4.6 million. CEO Dr. Denis Phares noted signs of RV market stabilization and strong heavy-duty trucking momentum, highlighted by a post-quarter Stevens Transport order exceeding $3 million across nearly 500 trucks, validating progression from pilots to scaled adoption. Recent cost actions, including expense reductions and OEM focus, are on track to benefit Q2 onward. Q2 guidance projects sequential sales growth of 36% to $13.2 million and Adjusted EBITDA improvement to $(1.9) million loss, targeting profitability at $70 million annualized run-rate. Balance sheet shows cash at $8.6 million as of March 31, 2026, down from $18.3 million year-end.