--- title: "Dragonfly Energy | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 9.704 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286463772.md" datetime: "2026-05-14T20:30:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286463772.md) - [en](https://longbridge.com/en/news/286463772.md) - [zh-HK](https://longbridge.com/zh-HK/news/286463772.md) --- # Dragonfly Energy | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 9.704 M Revenue: As of FY2026 Q1, the actual value is USD 9.704 M, beating the estimate of USD 9.45 M. EPS: As of FY2026 Q1, the actual value is USD -0.64, missing the estimate of USD -0.52. EBIT: As of FY2026 Q1, the actual value is USD -4.262 M. #### Segment Revenue Dragonfly Energy Holdings Corp. reported total net sales of $9,704 thousand for the three months ended March 31, 2026, marking a -27.3% decrease from $13,356 thousand in the same period of 2025 . - **Direct to Customer (DTC) Segment Revenue**: In 2026, DTC revenue was $3,702 thousand, representing 38.1% of total net sales, compared to $5,015 thousand (37.5% of total net sales) in 2025 . - **Original Equipment Manufacture (OEM) Segment Revenue**: OEM revenue in 2026 was $5,752 thousand, accounting for 59.3% of total net sales, down from $8,091 thousand (60.6% of total net sales) in 2025 . - **License Fee Revenue**: License fee revenue remained constant at $250 thousand in both 2026 (2.6% of total net sales) and 2025 (1.9% of total net sales) . #### Operational Metrics - **Net Loss**: The company reported a net loss of -$6,625 thousand in 2026, slightly less than the -$6,797 thousand net loss in 2025 . - **Gross Profit**: Gross profit decreased by -56.5% to $1,710 thousand in 2026, from $3,928 thousand in 2025 . - **Gross Profit Percentage**: The gross profit percentage was 17.6% in 2026, down from 29.4% in 2025 . - **Operating Expenses**: - **Research and Development**: Research and development expenses were $980 thousand in 2026, comparable to $1,000 thousand in 2025, with a wage expense decrease offset by a depreciation increase . - **General and Administrative**: General and administrative expenses decreased by -29.5% to $4,482 thousand in 2026 from $6,357 thousand in 2025, primarily due to lower professional fees and rent expense, partially offset by increased employee expenses . - **Selling and Marketing**: Selling and marketing expenses decreased by -20.5% to $1,975 thousand in 2026 from $2,485 thousand in 2025, mainly due to lower employee-related costs and shipping costs . - **Loss From Operations**: Loss from operations was -$5,727 thousand in 2026, an improvement from -$5,914 thousand in 2025 . #### Cash Flow - **Net Cash Used in Operating Activities**: Net cash used in operating activities increased to -$8,784 thousand in 2026 from -$4,500 thousand in 2025 . - **Net Cash Used in Investing Activities**: Net cash used in investing activities was -$279 thousand in 2026, a decrease from -$778 thousand in 2025 . - **Net Cash Used in Financing Activities**: Net cash used in financing activities was -$570 thousand in 2026, primarily due to Series B preferred stock dividend payments and debt repayment, contrasting with $3,232 thousand generated in 2025 mainly from net proceeds of offerings . #### Unique Metrics - **Batteries Sold**: Dragonfly Energy Holdings Corp. sold 5,783 batteries in Q1 2026, a decrease from 10,845 batteries in Q1 2025 . - **Customer Concentration (Accounts Receivable)**: As of March 31, 2026, Customer A, Customer B, and Customer C each comprised approximately 10% to 12% of accounts receivable . - **Customer Concentration (Sales Revenue)**: Sales from Customer D accounted for approximately 14% of total revenue for Q1 2026, a decrease from 18% in Q1 2025 . - **Supplier Concentration (Accounts Payable)**: As of March 31, 2026, Vendor A and Vendor B comprised approximately 43% and 10%, respectively, of accounts payables . - **Supplier Concentration (Total Purchases)**: For Q1 2026, Vendor A and Vendor E accounted for approximately 13% and 10%, respectively, of total purchases . - **Warranty Obligation**: The estimated outstanding warranty obligation was $861 thousand as of March 31, 2026, with a warranty expense of $98 thousand for the quarter . - **Warrant Liabilities**: Total warrant liabilities decreased from $713 thousand as of December 31, 2025, to $207 thousand as of March 31, 2026 . The change in fair market value of warrant liability resulted in a gain of $506 thousand in Q1 2026, compared to a gain of $3,818 thousand in Q1 2025 . - **Term Loan**: The carrying value of the Term Loan was $10,325 thousand as of March 31, 2026, with $19,103 thousand in principal outstanding . The company is subject to financial covenants requiring minimum cash and cash equivalents of $5,000 thousand through December 31, 2026, and a maximum capital expenditure threshold of $5,000 thousand per year . - **Series B Preferred Stock**: Dividends of -$1,095 thousand were recognized for Q1 2026, with the Series B Preferred Stock accruing dividends at 10% per annum (80% cash, 20% paid-in-kind) . #### Future Outlook and Strategy Dragonfly Energy Holdings Corp. anticipates sales to increase over the next 12 months due to expanding customer integration into new models and entry into new markets like trucking and industrials . The company is prioritizing product development for these new markets, as evidenced by a significant purchase order from Stevens Transport, and expects general and administrative, and selling and marketing expenses to decrease through targeted cost reduction measures . To fund operations, R&D for solid-state batteries, facility expansion, and strategic investments, the company plans to raise additional funds through its at-the-market equity offering program and potentially other equity or debt securities . ### Related Stocks - [DFLI.US](https://longbridge.com/en/quote/DFLI.US.md) ## Related News & Research - [Canada's Draganfly Q1 revenue rises on growing demand for drone solutions](https://longbridge.com/en/news/285998562.md) - [SUNation Energy GAAP EPS of -$1.20, revenue of $7.2M](https://longbridge.com/en/news/286614972.md) - [Valeura Energy Inc Announces First Quarter 2026 Results | VLERF Stock News](https://longbridge.com/en/news/286367018.md) - [Breakeven Is Near for MPC Energy Solutions N.V. (OB:MPCES)](https://longbridge.com/en/news/287031158.md) - [15:08 ETMintel and Dragonfly AI Partner to Help Brands Move from Product Insight to Packaging That Wins](https://longbridge.com/en/news/286956271.md)