Dragonfly Energy Holdings Corp. Common Stock (NV) (DFLI)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a business that earns money and trades at a discount to what it is worth. Dragonfly Energy does not yet clear that bar. In fiscal 2025, the year ended 2025-12-31, filed revenue was $58.6M and net income was -$69.9M. In fiscal 2024, the year ended 2024-12-31, revenue was $50.6M and net income was -$40.6M. In fiscal 2023, the year ended 2023-12-31, revenue was $64.4M and net income was -$13.8M. The losses are getting larger, not smaller. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue of $13.2M and net income of -$4.4M. Fiscal Q1 2026 ended 2026-03-31 had revenue of $9.7M and net income of -$6.6M. Trailing free cash flow was -$29.8M, a FairStock calculation, and FCF yield was -61.1% against the $48.8M market cap at the 2026-10-13 close. At that close, the FairStock P/E is -1.92 and P/B is 5.78; ROE is -1693.43%, ROCE is -17.54%, and D/E is 1.41. Piotroski is 4/9 and Altman Z is -2.44, suggesting weak financial condition. The Lynch category is none because of losses in each of the last four years. The company has a niche in lithium power systems for RVs, marine, solar and off-grid markets, but 137 employees and no profits do not prove a durable moat. At $3.26, the price is a bet on future battery demand and a turnaround, not a Graham margin of safety. I see no reliable intrinsic value when cash is burning and losses are widening.

In plain English: Dragonfly Energy makes lithium-ion batteries and power systems for recreational vehicles, boats, solar, off-grid homes, and industrial uses. The business looks weak: in the quarter ended 2026-06-30, revenue was $13.2 million and it lost $4.4 million, and it has lost money for years. At the 2026-10-13 closing price of $3.26, the price looks expensive compared with those losses and cash use.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer