Revenue: As of FY2026 Q1, the actual value is USD 9.704 M, beating the estimate of USD 9.45 M.EPS: As of FY2026 Q1, the actual value is USD -0.64, missing the estimate of USD -0.52.EBIT: As of FY2026 Q1, the actual value is USD -4.262 M.<h4>Segment Revenue</h4>Dragonfly Energy Holdings Corp. reported total net sales of $9,704 thousand for the three months ended March 31, 2026, marking a -27.3% decrease from $13,356 thousand in the same period of 2025 .<ul><li>Direct to Customer (DTC) Segment Revenue: In 2026, DTC revenue was $3,702 thousand, representing 38.1% of total net sales, compared to $5,015 thousand (37.5% of total net sales) in 2025 .</li><li>Original Equipment Manufacture (OEM) Segment Revenue: OEM revenue in 2026 was $5,752 thousand, accounting for 59.3% of total net sales, down from $8,091 thousand (60.6% of total net sales) in 2025 .</li><li>License Fee Revenue: License fee revenue remained constant at $250 thousand in both 2026 (2.6% of total net sales) and 2025 (1.9% of total net sales) .</li></ul><h4>Operational Metrics</h4><ul><li>Net Loss: The company reported a net loss of -$6,625 thousand in 2026, slightly less than the -$6,797 thousand net loss in 2025 .</li><li>Gross Profit: Gross profit decreased by -56.5% to $1,710 thousand in 2026, from $3,928 thousand in 2025 .</li><li>Gross Profit Percentage: The gross profit percentage was 17.6% in 2026, down from 29.4% in 2025 .</li><li>Operating Expenses:<ul><li>Research and Development: Research and development expenses were $980 thousand in 2026, comparable to $1,000 thousand in 2025, with a wage expense decrease offset by a depreciation increase .</li><li>General and Administrative: General and administrative expenses decreased by -29.5% to $4,482 thousand in 2026 from $6,357 thousand in 2025, primarily due to lower professional fees and rent expense, partially offset by increased employee expenses .</li><li>Selling and Marketing: Selling and marketing expenses decreased by -20.5% to $1,975 thousand in 2026 from $2,485 thousand in 2025, mainly due to lower employee-related costs and shipping costs .</li></ul></li><li>Loss From Operations: Loss from operations was -$5,727 thousand in 2026, an improvement from -$5,914 thousand in 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities increased to -$8,784 thousand in 2026 from -$4,500 thousand in 2025 .</li><li>Net Cash Used in Investing Activities: Net cash used in investing activities was -$279 thousand in 2026, a decrease from -$778 thousand in 2025 .</li><li>Net Cash Used in Financing Activities: Net cash used in financing activities was -$570 thousand in 2026, primarily due to Series B preferred stock dividend payments and debt repayment, contrasting with $3,232 thousand generated in 2025 mainly from net proceeds of offerings .</li></ul><h4>Unique Metrics</h4><ul><li>Batteries Sold: Dragonfly Energy Holdings Corp. sold 5,783 batteries in Q1 2026, a decrease from 10,845 batteries in Q1 2025 .</li><li>Customer Concentration (Accounts Receivable): As of March 31, 2026, Customer A, Customer B, and Customer C each comprised approximately 10% to 12% of accounts receivable .</li><li>Customer Concentration (Sales Revenue): Sales from Customer D accounted for approximately 14% of total revenue for Q1 2026, a decrease from 18% in Q1 2025 .</li><li>Supplier Concentration (Accounts Payable): As of March 31, 2026, Vendor A and Vendor B comprised approximately 43% and 10%, respectively, of accounts payables .</li><li>Supplier Concentration (Total Purchases): For Q1 2026, Vendor A and Vendor E accounted for approximately 13% and 10%, respectively, of total purchases .</li><li>Warranty Obligation: The estimated outstanding warranty obligation was $861 thousand as of March 31, 2026, with a warranty expense of $98 thousand for the quarter .</li><li>Warrant Liabilities: Total warrant liabilities decreased from $713 thousand as of December 31, 2025, to $207 thousand as of March 31, 2026 . The change in fair market value of warrant liability resulted in a gain of $506 thousand in Q1 2026, compared to a gain of $3,818 thousand in Q1 2025 .</li><li>Term Loan: The carrying value of the Term Loan was $10,325 thousand as of March 31, 2026, with $19,103 thousand in principal outstanding . The company is subject to financial covenants requiring minimum cash and cash equivalents of $5,000 thousand through December 31, 2026, and a maximum capital expenditure threshold of $5,000 thousand per year .</li><li>Series B Preferred Stock: Dividends of -$1,095 thousand were recognized for Q1 2026, with the Series B Preferred Stock accruing dividends at 10% per annum (80% cash, 20% paid-in-kind) .</li></ul><h4>Future Outlook and Strategy</h4>Dragonfly Energy Holdings Corp. anticipates sales to increase over the next 12 months due to expanding customer integration into new models and entry into new markets like trucking and industrials . The company is prioritizing product development for these new markets, as evidenced by a significant purchase order from Stevens Transport, and expects general and administrative, and selling and marketing expenses to decrease through targeted cost reduction measures . To fund operations, R&amp;D for solid-state batteries, facility expansion, and strategic investments, the company plans to raise additional funds through its at-the-market equity offering program and potentially other equity or debt securities .

Dragonfly Energy | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 9.704 M