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Dragonfly Energy Holdings Corp (ticker: DFLI) is a manufacturer of lithium iron phosphate (LiFePO₄) battery packs and a developer of domestic dry electrode cell production technology, based in Reno, Nevada. Since its founding in 2016, the company has focused on providing energy storage solutions for recreational vehicles, heavy-duty trucking, marine applications, off-grid residential systems, and industrial solar integration. Dragonfly markets its battery packs under the Battle Born® brand, emphasizing automation, quality control, and an integrated-systems approach.
Corporate Structure
Dragonfly Energy has approximately 51–200 employees and operates a U.S. battery pack assembly facility along with a cell research and development center. The workforce includes electrical and mechanical engineers, technicians, and quality control specialists. The company holds around 100 granted, filed, and pending patents, reflecting over a decade of internal research in battery chemistry and manufacturing processes.
Battery Technology by Mika Baumeister
Recent Developments and News
On October 2, 2025, Dragonfly Energy's shares increased by 41.33% on the Nasdaq (DFLI), closing at $0.8467, with a trading volume of 62,657,913 shares. In mid-September 2025, the company filed its Annual Report on Form ARS (Acc-no: 0001493152-25-013469) and a definitive proxy statement (DEF 14A) with the SEC on September 15, 2025. These filings outlined the company's plans to expand its domestic manufacturing capabilities and scale technology in U.S. facilities. On September 5, 2025, Dragonfly filed a preliminary proxy statement (PRE 14A) discussing upcoming shareholder votes related to board composition and executive compensation.
Financial and Strategic Analysis
Dragonfly Energy has delivered over 400,000 battery packs and generated more than $225 million in revenue since 2021, with an average annual OEM growth rate of 179% during that period. The trailing-twelve-month (TTM) revenue was reported at $54.54 million, while the net income was a loss of $30.45 million, reflecting ongoing investments in manufacturing scale-up and research and development. Key strategic advantages include:
- A proprietary, chemistry-agnostic dry electrode process that eliminates toxic NMP solvents, reduces carbon emissions by 9%, and consumes 25% less energy in cell production.
- An integrated-systems approach that combines battery modules with ancillary components for complete solutions for OEMs.
- PFAS-free electrode manufacturing capabilities and the flexibility to utilize recycled materials.
| Metric | Value |
|---|---|
| Stock Price (2025-10-02) | $0.8467 |
| Daily Price Change | +41.33% |
| Volume | 62,657,913 |
| Market Cap (intraday) | $38.64 million |
| Revenue (TTM) | $54.54 million |
| Net Income (TTM) | –$30.45 million |
| Battery Packs in Field | > 400,000 |
| Revenue Since 2021 | > $225 million |
Market Position and Industry Context
Dragonfly Energy operates in the North American battery manufacturing and energy storage market, with demand driven by electrification trends across transportation and off-grid applications. The company competes with both domestic and international cell producers by focusing on local production, advanced automation, and a patented dry electrode platform. Regulatory incentives for U.S. clean energy manufacturing and partnerships with OEMs in heavy-duty trucking and marine sectors support its market standing. The company’s UL-listed LiFePO₄ packs cater to customers looking for safety and longevity, addressing challenges associated with lead-acid battery replacements.
TL;DR
On October 2, 2025, Dragonfly Energy shares rose 41.33% amid high trading volume following its September 2025 SEC filings, which detailed plans to scale domestic cell production and advance proprietary dry electrode technology. The company is planning for expanded manufacturing capacity and upcoming shareholder votes related to board composition and executive compensation. It is scheduled to release earnings on November 13, 2025. With over 400,000 battery packs deployed and exceeding $225 million in revenue since 2021, Dragonfly aims to capitalize on U.S. incentives for clean energy manufacturing and meet increasing demand from OEM partners.
