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Dragonfly Energy Holdings Corp.

DFLI Clue Score23
United States Fiscal year ends December CIK 0001847986
$0.47 -3.75% Close, 9 Oct 2026
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Price $0.47 −63.56% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 7 Oct 2022. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue78.0Operating income6.5Net income4.3EPS, diluted0.11Fiscal year 2022Revenue86.3 +10.6%Operating income−34.4Net income−40.0 −1,021.9%EPS, diluted−1.04Fiscal year 2023Revenue64.4 −25.3%Operating income−27.4Net income−13.8EPS, diluted−2.36Fiscal year 2024Revenue50.6 −21.3%Operating income−25.8Net income−40.6EPS, diluted−59.15Fiscal year 2025Revenue58.6 +15.8%Operating income−23.2Net income−69.9EPS, diluted−14.80
FY2021FY2022FY2023FY2024FY2025
Revenue 78.0 86.3 64.4 50.6 58.6
Growth +10.6% −25.3% −21.3% +15.8%
Operating income 6.5 −34.4 −27.4 −25.8 −23.2
Net income 4.3 −40.0 −13.8 −40.6 −69.9
Growth −1,021.9%
EPS, diluted 0.11 −1.04 −2.36 −59.15 −14.80

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Gross margin38.0%Operating margin8.3%Net margin5.6%Free cash flow margin−21.2%Fiscal year 2022Gross margin27.4%Operating margin−39.9%Net margin−46.4%Free cash flow margin−60.9%Fiscal year 2023Gross margin24.0%Operating margin−42.6%Net margin−21.5%Free cash flow margin−38.2%Fiscal year 2024Gross margin23.0%Operating margin−50.9%Net margin−80.2%Free cash flow margin−19.5%Fiscal year 2025Gross margin26.7%Operating margin−39.5%Net margin−119.3%Free cash flow margin−47.6%
FY2021FY2022FY2023FY2024FY2025
Gross margin 38.0% 27.4% 24.0% 23.0% 26.7%
Operating margin 8.3% −39.9% −42.6% −50.9% −39.5%
Net margin 5.6% −46.4% −21.5% −80.2% −119.3%
Free cash flow margin −21.2% −60.9% −38.2% −19.5% −47.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow−13.6Capital expenditure−3.0Free cash flow−16.5Fiscal year 2022Operating cash flow−45.7Capital expenditure−6.9Free cash flow−52.6Fiscal year 2023Operating cash flow−17.7Capital expenditure−6.9Free cash flow−24.6Fiscal year 2024Operating cash flow−7.2Capital expenditure−2.7Free cash flow−9.9Fiscal year 2025Operating cash flow−26.0Capital expenditure−1.9Free cash flow−27.9
FY2021FY2022FY2023FY2024FY2025
Operating cash flow −13.6 −45.7 −17.7 −7.2 −26.0
Capital expenditure −3.0 −6.9 −6.9 −2.7 −1.9
Free cash flow −16.5 −52.6 −24.6 −9.9 −27.9
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash25.6Shareholders’ equity15.9Fiscal year 2022Cash17.8Total debt95.4Net cash (debt)−77.7Shareholders’ equity10.7Debt to equity8.88Fiscal year 2023Cash12.7Total debt95.5Net cash (debt)−82.8Shareholders’ equity27.9Debt to equity3.42Fiscal year 2024Cash4.8Total debt29.6Net cash (debt)−24.8Shareholders’ equity−9.4Fiscal year 2025Cash18.3Total debt9.6Net cash (debt)8.6Shareholders’ equity11.5Debt to equity0.84
FY2021FY2022FY2023FY2024FY2025
Cash 25.6 17.8 12.7 4.8 18.3
Total debt n/a 95.4 95.5 29.6 9.6
Net cash (debt) n/a −77.7 −82.8 −24.8 8.6
Shareholders’ equity 15.9 10.7 27.9 −9.4 11.5
Debt to equity n/a 8.88 3.42 n/a 0.84

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023† 31 Dec 2023 FY2024† 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
78.0 86.3 64.4 50.6 58.6
Growth +10.6% −25.3% −21.3% +15.8%
48.4 62.6 48.9 39.0 43.0
29.6 23.6 15.4 11.6 15.6
Growth −20.3% −34.6% −24.7% +34.6%
2.7 2.8 3.9 5.5 3.0
10.6 41.6 26.4 21.9 23.0
6.5 −34.4 −27.4 −25.8 −23.2
Growth −631.7%
5.9 −40.7 −13.8 −40.6 −70.0
1.6 −0.7 −0.0 n/a −0.1
4.3 −40.0 −13.8 −40.6 −69.9
Growth −1,021.9%
Per share
0.12 −1.04 −2.36 −59.15 −14.80
0.11 −1.04 −2.36 −59.15 −14.80
Growth −1,045.5%
35.6 38.6 5.9 0.7 4.8
37.7 38.6 5.9 0.7 4.8
Growth +2.2% −84.8% −88.3% +596.6%

† The diluted share count jumps at 2023 and 2024 and 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 4 of 5 years on file.