DFLI Nasdaq Miscellaneous Electrical Machinery, Equipment & Supplies Financials FY2021βFY2025
Dragonfly Energy Holdings Corp. had $58.6M of revenue in fiscal 2025, up 15.8% on the year before.
Last close Β· Oct 23, 2026
$2.40
9.4%Hi! I read Dragonfly Energy Holdings Corp.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+15.8%
Yes. Sales grew 15.8% last year.
Does it make a profit?
β119.3%
No. It lost money last year.
Does profit turn into cash?
β47.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Dragonfly Energy Holdings Corp. did it, and the next one. Share prices often move a lot on those days.
Next results
November 13, 2026
Friday Β· in 19 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 6, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 14, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 16, 2026 | Q4 '25 | After the market closes | 8-K β |
| Oct 13, 2025 | Q3 '25 | Time not announced | 8-K β |
| Jul 29, 2025 | Q2 '25 | Before the market opens | 8-K β |
| Apr 23, 2025 | Q1 '25 | After the market closes | 8-K β |
| Mar 21, 2025 | Q4 '24 | Time not announced | 8-K β |
| Nov 14, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Dragonfly Energy Holdings Corp. had $58.6M of revenue in fiscal 2025, up 15.8% on the year before. Its operating margin was β39.5%, up 11.3Β pts: of every 100 in sales, about β40 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Dragonfly Energy Holdings Corp. lost $69.9M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$27.9M in fiscal 2025, β47.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Dragonfly Energy Holdings Corp. owes $1.1M more than it holds in cash.
Cash, debt and the ratios that show how comfortably Dragonfly Energy Holdings Corp. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $25.6M | $17.8M | $12.7M | $4.8M | $18.3M |
| Debt incl. finance leases | β | $76.2M | $76.0M | $86.0M | $19.4M |
| Debt / equity | β | 7.1x | 2.7x | β | 1.7x |
| Interest coverage | 12.5x | β4.9x | β1.7x | β1.2x | β1.1x |
| Current ratio | 3.7x | 1.8x | 1.4x | 1.5x | 2.5x |
| Quick ratio | 2.2x | 0.6x | 0.4x | 0.5x | 1.3x |
| Total assets | $76.3M | $89.1M | $75.2M | $75.2M | $86.5M |
| Total liabilities | $60.2M | $78.4M | $47.3M | $84.6M | $52.8M |
| Shareholders' equity | $15.9M | $10.7M | $27.9M | β$9.4M | $11.5M |
| Net debt (β = net cash) | β | $58.5M | $63.2M | $81.2M | $1.1M |
KIRA Β· Its return on capital was β145.2%: every 100 invested in the business earned about β145 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Dragonfly Energy Holdings Corp. passes 5 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β |
| F-score | β / 3 | 0 / 8 | 2 / 9 | 3 / 9 | 5 / 9 |
| Accruals ratio | 23.5% | 6.9% | 4.7% | β44.4% | β54.4% |
| Altman Z'' | 5.52 | β1.08 | β2.28 | β5.01 | β4.99 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $78.0M | $86.3M | $64.4M | $50.6M | $58.6M |
| Gross profit | $29.6M | $23.6M | $15.4M | $11.6M | $15.6M |
| Research and development | $2.7M | $2.8M | $3.9M | $5.5M | $3.0M |
| Operating income | $6.5M | β$34.4M | β$27.4M | β$25.8M | β$23.2M |
| Interest expense | $0.5M | $7.0M | $16.0M | $21.5M | $20.3M |
| Pretax income | $5.9M | β$40.7M | β$13.8M | β$40.6M | β$70.0M |
| Income tax | $1.6M | β$0.7M | β$0.0M | β | β$0.1M |
| Net income | $4.3M | β$40.0M | β$13.8M | β$40.6M | β$69.9M |
| Net income to common | $4.3M | β$39.6M | β$13.8M | β$40.6M | β$70.8M |
| Diluted EPS | $0.11 | β$1.04 | β$2.36 | β$59.15 | β$14.80 |
| Diluted shares | 0.04B | 0.04B | 0.01B | 0.00B | 0.00B |
| Cash flow | |||||
| Cash from operations | β$13.6M | β$45.7M | β$17.7M | β$7.2M | β$26.0M |
| Capital expenditure | $3.0M | $6.9M | $6.9M | $2.7M | $1.9M |
| Free cash flow | β$16.5M | β$52.6M | β$24.6M | β$9.9M | β$27.9M |
| Depreciation and amortization | $0.6M | $0.9M | $1.2M | $1.4M | $2.2M |
| Stock-based compensation | $0.7M | $2.5M | $6.7M | $1.0M | $0.7M |
| Balance sheet | |||||
| Cash and short-term investments | $25.6M | $17.8M | $12.7M | $4.8M | $18.3M |
| Total debt | β | $76.2M | $75.9M | $85.9M | $19.3M |
| Finance lease liabilities | β | $0.0M | $0.1M | $0.1M | $0.1M |
| Current assets | $66.1M | $73.8M | $55.9M | $32.9M | $50.2M |
| Current liabilities | $18.0M | $41.5M | $40.4M | $21.9M | $19.8M |
| Inventory | $27.1M | $50.2M | $38.8M | $21.7M | $24.2M |
| Property and equipment, net | $4.5M | $10.8M | $16.0M | $22.1M | $20.7M |
| Total assets | $76.3M | $89.1M | $75.2M | $75.2M | $86.5M |
| Total liabilities | $60.2M | $78.4M | $47.3M | $84.6M | $52.8M |
| Preferred stock | $0.0M | β | β | β | β |
| Shareholders' equity | $15.9M | $10.7M | $27.9M | β$9.4M | $11.5M |
| Margins | |||||
| Gross margin | 38.0% | 27.4% | 24.0% | 23.0% | 26.7% |
| Operating margin | 8.3% | β39.9% | β42.6% | β50.9% | β39.5% |
| EBITDA margin | 9.1% | β38.8% | β40.7% | β48.2% | β35.7% |
| Net margin | 5.6% | β46.4% | β21.5% | β80.2% | β119.3% |
| FCF margin | β21.2% | β60.9% | β38.2% | β19.5% | β47.6% |
| Returns | |||||
| Return on capital | β | β39.3% | β23.8% | β28.4% | β145.2% |
| Return on capital employed | 11.1% | β72.2% | β78.8% | β48.3% | β34.7% |
| Return on equity | 27.3% | β300.3% | β71.5% | β438.9% | β6,579.4% |
| Return on assets | 5.7% | β48.4% | β16.8% | β54.0% | β86.5% |
| Return on tangible equity | 27.3% | β368.3% | β49.5% | β | β614.1% |
| Growth | |||||
| Revenue growth | β | 10.6% | β25.3% | β21.3% | 15.8% |
| Net income growth | β | β1,021.9% | β | β | β |
| EPS growth | β | β1,045.5% | β | β | β |
| Share count change | β | 2.2% | β84.8% | β88.3% | 596.6% |
| Financial health | |||||
| Debt / equity | β | 7.1x | 2.7x | β | 1.7x |
| Interest coverage | 12.5x | β4.9x | β1.7x | β1.2x | β1.1x |
| Current ratio | 3.7x | 1.8x | 1.4x | 1.5x | 2.5x |
| Quick ratio | 2.2x | 0.6x | 0.4x | 0.5x | 1.3x |
| Capital allocation | |||||
| Capex / revenue | 3.8% | 8.0% | 10.7% | 5.3% | 3.3% |
| Stock comp / revenue | 0.9% | 2.9% | 10.4% | 2.0% | 1.2% |
| Quality scores | |||||
| Piotroski F-score | β | 0.0 | 2.0 | 3.0 | 5.0 |
| Altman Z'' | 5.5 | β1.1 | β2.3 | β5.0 | β5.0 |
| Accruals ratio | 23.5% | 6.9% | 4.7% | β44.4% | β54.4% |
Source: SEC EDGAR XBRL filings (CIK 0001847986). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
