Annual Awards Program Recognizes Companies and Products Driving Innovation in the Global Clean Technology IndustrySelected from thousands of nominations across 14 countries, Dragonfly Energy was named “Battery Technology Company of the Year” for its industry-leading innovations in lithium battery technology.The award highlights the Company’s patented dry electrode manufacturing process, which eliminates toxic solvents and energy-intensive drying ovens—reducing environmental impact and enabling scalable, sus ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-40730 DRAGONFLY ENERGY HOLDINGS CORP. (Exact name of registrant as specified in its charter) (State or other jurisdic ...

Financial Data and Key Metrics Changes - Total revenue grew 17% year-over-year to $12.2 million, marking the first quarterly year-over-year revenue growth in two years [13][31] - OEM sales increased 61% to $6.2 million from $3.9 million, while DTC sales declined to $5.7 million from $6.6 million due to macroeconomic pressures [31][32] - Gross profit rose 12.5% to $2.5 million, with a gross profit margin of 20.8%, although gross margin declined by 80 basis points year-over-year due to higher material costs [33] - Net loss was $9.8 million, translating to a diluted net loss of $1.39 per share, compared to a net income of $3.3 million with diluted earnings per share of $0.50 in the previous year [34] - Adjusted EBITDA was negative $2.3 million, worse than the negative $1.8 million reported last year [35] Business Line Data and Key Metrics Changes - OEM sales growth was driven by increased adoption of current products and new product uptake [31][32] - DTC segment sales decline reflects ongoing macroeconomic pressures impacting consumer spending [32] Market Data and Key Metrics Changes - The RV market continues to face challenges, but there are signs of increased adoption of premium products as manufacturers reintegrate add-ons into their units [15] - The trucking industry is identified as a significant growth opportunity, with partnerships leading to fleet-wide implementations of Dragonfly Energy's solutions [16][18] Company Strategy and Development Direction - The company has launched a corporate optimization program to focus on near-term revenue-generating opportunities and accelerate profitability [9][11] - A debt restructuring has enhanced financial flexibility, extending debt maturity to October 2027 and reclassifying debt as long-term [8] - The company is diversifying its revenue streams beyond the RV sector, particularly targeting the trucking industry and other industrial markets [19][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA by the fourth quarter of 2025, driven by growth in the RV and trucking markets [35][36] - The company is optimistic about the momentum in its diversification efforts and believes it is well-positioned to capitalize on growth opportunities [36] Other Important Information - The company has strengthened its distribution network through partnerships with key players in the RV and marine sectors [14] - A strategic relocation to a new facility is expected to drive long-term operational efficiencies [33] Q&A Session Summary Question: Clarification on EBITDA profitability target for Q4 - Management expects the entire fourth quarter to be adjusted EBITDA positive [40] Question: Contingency plans if market conditions do not improve - Management indicated that they are not overly reliant on contingency plans, as they are optimistic based on the current pipeline of opportunities [42] Question: Update on dry manufacturing business - The focus has shifted to collaborating with customers who can produce cells from the electrodes provided by the company, rather than producing cells in-house [46][47] Question: Impact of tariffs on profitability guidance - Management confirmed that tariff impacts have been accounted for in profitability guidance, noting that their non-tariffable costs are lower than industry averages [49][50] Question: Trends in the RV market and re-contenting - Management noted a modest growth forecast for the RV industry, with wider adoption of their products among core customers [57][58] Question: Update on the Stryten licensing deal - The relationship is active, focusing on product development, but meaningful revenue is not expected until 2026 or late 2025 [68][69]

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Q4 2024 Results Conference Call March 24, 2025 4:30 PM ET Company Participants Szymon Serowiecki - Investor Relations Denis Phares - Chairman, President & Chief Executive Officer Wade Seaburg - Chief Commercial Officer Conference Call Participants George Gianarikas - Canaccord Genuity Chip Moore - ROTH Capital Partners Operator Good afternoon, ladies and gentlemen, and welcome to the Dragonfly Energy's Fourth Quarter Earnings Call. At this time, all lines are in ...

Exhibit 99.1 "After quarter end, we were very pleased to have successfully negotiated a significant debt restructuring with our lenders, allowing for covenant relief while pushing off the maturity date. With this action, our debt will be classified as long-term debt on our balance sheet. Concurrent with the debt restructuring, we also secured additional capital through a strategic investor," commented Dr. Denis Phares, Chief Executive Officer. "We believe these actions greatly strengthen our near-term finan ...

Fourth Quarter Revenue Growth of 17% Led by Significant OEM GrowthDebt Restructuring and Concurrent Capital Raise Enhance Financial Position and LiquidityInitiates Corporate Optimization ProgramGuides to First Quarter 2025 Net Sales of Approximately $13.3 MillionTargets Positive Adjusted EBITDA in Fourth Quarter 2025 RENO, Nev., March 24, 2025 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and battery technology, ...

RENO, Nev., March 13, 2025 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. ("Dragonfly Energy" or the "Company") (NASDAQ:DFLI), an industry leader in energy storage and battery technology, today announced that the Company will release its financial and operational results for the fourth quarter and full year ended December 31, 2024, after market close on Monday, March 24, 2025. The earnings press release will be followed by a conference call on March 24, 2025 at 4:30 PM Eastern Time. Interested investor ...

Core Viewpoint - Dragonfly Energy has launched the Battle Born® DualFlow Power Pack, a lithium power solution aimed at enhancing efficiency and reducing costs for long-haul trucking by eliminating idling and extending starter battery life [2][5][9]. Product Overview - The Battle Born® DualFlow Power Pack is designed to provide dedicated power for hotel loads in long-haul trucks, thereby alleviating strain on starter batteries and reducing unnecessary engine starts [2][3]. - It features Wakespeed® Charge Control Technology, which allows the system to recharge while the truck is in motion without additional fuel consumption [3][5]. - The product is engineered for universal compatibility and can be installed under the bunk in sleeper cabs without modifications, taking less than an hour for installation [5][9]. Economic Benefits - The system offers a low price point and a return on investment (ROI) well under a year, enabling fleets to quickly recover their investment and achieve significant savings in fuel costs, battery replacements, and maintenance [3][5]. - It is estimated that the system can save an average of four gallons of fuel per day by eliminating idling during mandatory rest periods [9]. Market Positioning - The DualFlow Power Pack is positioned as a practical solution for heavy-duty trucking fleets and owner-operators, particularly those not using auxiliary air conditioners [3][4]. - Major fleets have already begun integrating the DualFlow Power Pack into their operations, recognizing its value in reducing costs and improving efficiency [6]. Company Background - Dragonfly Energy Holdings Corp. specializes in lithium battery technology, including cell manufacturing and battery pack assembly, and has established itself as a leader in the industry with a strong portfolio of products [8][10].

Core Viewpoint - Dragonfly Energy has launched the Battle Born® DualFlow Power Pack, a lithium power solution aimed at enhancing efficiency and reducing costs for long-haul trucking by eliminating idling and extending starter battery life [2][5][9]. Product Overview - The Battle Born® DualFlow Power Pack is designed to provide dedicated power for hotel loads in long-haul trucks, thereby reducing strain on starter batteries and minimizing idle time [2][3]. - It features Wakespeed® Charge Control Technology, which allows the system to recharge while the truck is in motion without additional fuel consumption [3][5]. - The product is engineered for universal compatibility and can be installed under the bunk in sleeper cabs without modifications, taking less than an hour for installation [5][9]. Economic Benefits - The system offers a low price point and a return on investment (ROI) of well under a year, allowing fleets to quickly recover their investment [3][5]. - It is expected to save an average of four gallons of fuel per day by eliminating the need for idling during mandatory rest periods [9]. - The DualFlow Power Pack protects starter batteries by minimizing deep discharges, thereby extending their lifespan and reducing the risk of premature failures and costly replacements [9]. Market Positioning - The product is particularly suited for heavy-duty trucking fleets and owner-operators who do not utilize auxiliary air conditioners, making it a practical solution for current industry needs [3][4]. - Dragonfly Energy positions the DualFlow Power Pack as a form of hybrid electrification that delivers real savings and efficiency, appealing to fleets looking for immediate, cost-effective solutions [4][6]. Company Background - Dragonfly Energy Holdings Corp. specializes in lithium battery technology, including cell manufacturing and battery pack assembly, and has established itself as a leader in the industry with a strong portfolio of products [8][10]. - The company aims to advance clean energy solutions and has a mission focused on the future deployment of proprietary, nonflammable, all-solid-state battery cells [10].

Core Viewpoint - Dragonfly Energy Holdings Corp. has successfully completed a debt restructuring and a capital raise, significantly enhancing its financial flexibility and liquidity [1][2][3] Debt Restructuring - The company amended its existing debt facility with senior lenders, which includes a waiver of quarterly liquidity covenant requirements through June 30, 2026, and an extension of the debt maturity date to October 7, 2027 [7] - The amendment also includes a Payment-in-Kind (PIK) interest option for 2025 and a reduction of the monthly minimum liquidity covenant to $2.5 million through March 31, 2026 [7] Capital Raise - Dragonfly Energy raised $3.5 million through a registered direct offering and private placement of Series A Convertible Preferred Stock, with a potential additional $4.5 million contingent on stockholder approval [2][4] - The company has also agreed to sell warrants to purchase up to an aggregate of $40 million in additional shares of Preferred Stock, providing further capital opportunities [2][4] Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [3] Company Overview - Dragonfly Energy is a leader in energy storage and battery technology, specializing in lithium battery manufacturing and system integration [9] - The company aims to advance clean energy solutions through its proprietary, nonflammable, all-solid-state battery cells [9]