RENO – October 27, 2026 -- Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) guided second-quarter net sales to about $13.2 million, roughly 36% above first-quarter revenue of $9.7 million, as a purchase order from Stevens Transport covering nearly 500 trucks offsets a soft RV market.
Stevens Transport order exceeds $3 million across full trucking portfolio
Stevens Transport placed the order after quarter-end. It is valued at more than $3 million and spans Dragonfly's full heavy-duty trucking product portfolio. CEO Denis Phares described it as one of the most comprehensive single-fleet adoptions of the company's trucking solutions to date, and as a move from pilot programs to scaled fleet deployment.
Q1 gross margin falls to 17.6% on lower RV volumes
First-quarter net sales split into $5.8 million from OEM customers and $3.7 million from direct-to-consumer channels. Dragonfly attributed the result to weaker demand in its core RV-related channels and to its focus on higher-value OEM and commercial opportunities.
Gross profit was $1.7 million, a 17.6% margin, against $3.9 million and 29.4% in the comparison period. The company blamed lower unit volumes of batteries and accessories.
Operating expenses drop to $7.4 million from $9.8 million
Targeted cost reductions drove the decline in operating expenses. Net loss was $6.6 million, and the net loss attributable to common shareholders was $7.7 million, or $0.64 per diluted share. Adjusted EBITDA was a loss of $4.6 million, excluding stock-based compensation, warrant fair-value changes and other one-time expenses.
Phares said the broader RV market has not recovered but has shown signs of stabilization since quarter-end. He cited expanded model integration and higher energy storage content within select existing OEM platforms.
Q2 guidance targets $1.9 million Adjusted EBITDA loss
Dragonfly guided to Q2 net sales of approximately $13.2 million and an Adjusted EBITDA loss of approximately $1.9 million. That is a $2.7 million sequential improvement, which management attributes to cost savings from corporate actions announced in the first quarter. The company did not reconcile the Adjusted EBITDA guidance to GAAP, citing items outside its control or not reasonably predictable.
Management targets Adjusted EBITDA profitability at an annualized net sales run rate of $70 million.
Nevada Tech Hub adds more than $500,000 in non-dilutive funding
Dragonfly was selected for more than $500,000 in additional non-dilutive Nevada Tech Hub funding. The money will expand in-house battery development, testing and validation capabilities.