Dragonfly Energy Reports Fourth Quarter and Full Year 2024 Results

Core Insights - Dragonfly Energy Holdings Corp. reported a fourth-quarter revenue growth of 17%, driven by significant OEM growth despite challenges in the RV market [1][3] - The company successfully negotiated a debt restructuring and secured additional capital, enhancing its financial position and liquidity [2] - Dragonfly Energy initiated a corporate optimization program aimed at improving operational efficiency and aligning with revenue growth opportunities [2] Financial Highlights - Fourth-quarter net sales reached $12.2 million, a 17% increase from the previous year, with OEM sales growing 61% to $6.2 million [5][10] - DTC sales decreased by 13% to $5.7 million, reflecting ongoing macroeconomic pressures [5] - The company reported a net loss of $(9.8) million for the fourth quarter, compared to a net income of $3.3 million in the prior year [8][12] Operational Developments - Dragonfly Energy has expanded its customer base beyond the RV sector, leveraging partnerships in trucking and industrial markets [3] - The company has promoted Dr. Vick Singh to Chief Operating Officer to oversee the corporate optimization program [2] - The strategic relocation to a new 400,000 square foot facility is expected to drive long-term operational efficiencies [7] Future Guidance - The company anticipates first-quarter 2025 net sales of approximately $13.3 million and targets positive adjusted EBITDA by the fourth quarter of 2025 [1][14][21]