Dragonfly Energy Stock Soars 25% on Dry-Electrode Breakthrough and Revenue Reveal

Introduction

DRAGONFLY ENERGY HOLDINGS CORP (NASDAQ: DFLI) designs and assembles LiFePO₄ battery packs in its U.S. facility, supplying energy storage solutions for recreational vehicles, heavy-duty trucking, marine, and industrial solar applications. As of September 26, 2025, the stock traded at US $0.4741—up 25.39% on a volume of 7,519,474 shares.

Corporate Structure

Public disclosures indicate that the company has maintained over 10 years of dedicated R&D and holds nearly 100 granted, filed, or pending patents. Leadership includes industry professionals such as Dr. Vick Singh and Kyla Suszynski, who have participated in relevant battery-technology forums, including Battery Day 2025. Dragonfly’s workforce includes engineers, quality-control specialists, and systems-integration experts focused on proprietary dry-electrode manufacturing and customized OEM solutions.

Battery Technology by Mika Baumeister

Recent Developments and News

• September 15, 2025: Filed its Annual Report on Form ARS, covering fiscal year 2024 and disclosing trailing twelve-month (TTM) revenue of US $54.54 million and a net loss of US $30.45 million.
• September 15, 2025: Submitted proxy materials (DEF 14A) in advance of the November 2025 shareholder meeting, outlining board nominations and executive compensation plans.
• September 2025: Presented at Battery Day 2025, highlighting its dry-electrode cell technology alongside partners from Thermo Fisher Scientific and Rockwell Automation.
• Continuous: Expanded field deployment to over 400,000 battery packs and achieved US $225 million in cumulative revenue since 2021, with a reported 179% average annual OEM growth.

Financial and Strategic Analysis

Dragonfly’s TTM figures (as of SEC filings) include:
• Revenue: US $54.54 million
• Net income: -US $30.45 million (−55.8% profit margin)
• Total cash: US $2.73 million
• Enterprise value/revenue: 1.55×

The company utilizes a chemistry-agnostic dry-electrode process that minimizes reliance on toxic NMP solvent, reduces CO₂ emissions by 9%, and lowers energy consumption by 25%, while enabling PFAS-free electrodes. Its integrated systems approach combines LiFePO₄ cells with ancillary components for OEM customers across multiple sectors. The company holds intellectual property protections relevant to manufacturing processes, system integration, and developments in solid-state cell designs.

Market Position and Industry Context

Dragonfly operates within the North American lithium-battery market, which includes competition from traditional lead-acid systems and imported cell manufacturers. Its onshore production aims to enhance supply-chain security amid geopolitical tensions, while the dry-electrode innovation positions it alongside companies engaged in next-generation solid-state technologies. The company’s focus on sustainability and domestic manufacturing aligns with federal incentives supporting clean-energy infrastructure, potentially opening new opportunities in the commercial and utility-scale sectors.

tl;dr

DFLI shares increased by 25.39% to US $0.4741 on September 26, 2025, following the submission of its annual report on September 15, which confirmed US $54.54 million in trailing revenue and ongoing net losses. The proprietary dry-electrode cell process was highlighted at Battery Day 2025, with earnings scheduled for November 13, 2025. Investors are anticipated to monitor developments in scaling domestic lithium-ion production and acquiring new OEM contracts.