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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
38.0% 27.4% 24.0% 23.0% 26.7%
8.3% −39.9% −42.6% −50.9% −39.5%
7.6% −47.2% −21.5% −80.2% −119.4%
5.6% −46.4% −21.5% −80.2% −119.3%
−21.2% −60.9% −38.2% −19.5% −47.6%
Spending
3.4% 3.2% 6.0% 10.8% 5.1%
13.6% 48.2% 41.0% 43.3% 39.2%
3.8% 8.0% 10.7% 5.3% 3.3%
27.1% n/a n/a n/a n/a
Returns
27.3% −372.3% −49.5% n/a −606.6%
5.7% −44.9% −18.4% −54.0% −80.8%
Balance and payout
n/a 8.88 3.42 n/a 0.84
78.9% 87.9% 62.9% 112.5% 61.0%