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Dragonfly Energy Holdings Corp (NASDAQ: DFLI) designs, manufactures, and integrates lithium-ion battery systems from its headquarters in Reno, Nevada. Trading on the NASDAQ exchange under the ticker DFLI, the stock closed at $2.19 on October 15, 2025, representing a 43.13% gain from the prior session on a volume of 14.9 million shares.
Corporate Structure and Expertise
Founded in 2016, Dragonfly Energy employs between 51 and 200 people across research, manufacturing, and corporate functions. The companyās core competencies include:
- Dry electrode cell manufacturing with a chemistry-agnostic process
- Pack design and assembly under the Battle Born BatteriesĀ® brand
- System integration for original equipment manufacturers (OEMs) in recreational vehicles, heavy-duty trucking, industrial solar, marine, and other sectors
Its intellectual property portfolio includes over 100 granted, filed, and pending patents, and more than ten years of research and development support both conventional LiFePOā packs and proprietary domestic dry electrode cell technology.
Lithium-ion batteries by Claudio Schwarz
Developments and News
On October 6, 2025, Dragonfly Energy filed a Form 424B5 prospectus registering 20 million shares at $1.25 per share. Net proceeds are expected to total approximately $23.5 million, with a 30-day underwriter option to sell an additional 3 million shares. That same day, an 8-K current report (Acc-no. 0001493152-25-017102) included executive appointments, operational updates, and compliance disclosures.
On October 14, 2025, a second 8-K (Acc-no. 0001493152-25-017864) detailed corporate events and risk factors pertinent to the energy storage sector.
Via LinkedIn, the company announced a Notice of Allowance from the U.S. Patent and Trademark Office for its Dragonfly IntelLigenceĀ® battery communication mesh network, enhancing system reliability across multiple battery modules. Dragonfly also highlighted a Transport Topics webinar scheduled for October 16, 2025, on fleet electrification strategies, and a technology collaboration with PACCAR on lithium-powered auxiliary systems.
Financial and Strategic Analysis
Dragonfly Energy reported $54.5 million in trailing twelve-month revenue as of October 2025 and has deployed over 400,000 battery packs since 2021. Key metrics include:
| Metric | Value |
|---|---|
| Trailing Revenue (TTM) | $54.54 million |
| Net Income (TTM) | ā$30.45 million |
| Profit Margin | ā55.84% |
| Total Cash (MRQ) | $2.73 million |
| Price/Sales (TTM) | 0.16 |
| Enterprise Value/Revenue | 2.33 |
Since 2021, the company has generated over $225 million in revenue and averaged 179% annual OEM growth. Its strategy centers on scaling domestic dry electrode production, expanding system integration services, and pursuing sustainable manufacturingāachieving a 9% lower COā footprint, 25% less energy consumed during production, and producing PFAS-free electrodes without toxic solvents.
Market Position and Industry Context
Dragonfly Energy operates in the North American lithium-ion battery market, competing based on domestic manufacturing, patented processes, and integrated solutions. As an OEM supplier for RVs, trucking fleets, and off-grid installations, the company positions itself between commodity battery producers and emerging solid-state innovators. Its dry electrode technology offers a pathway toward solid-state cells while addressing supply-chain and environmental pressures in global battery production.
TL;DR
On October 6 and October 14, 2025, Dragonfly Energy filed SEC Form 424B5 and two Form 8-K reports, registering a $23.5 million share offering and disclosing executive and operational updates. Its stock increased by 43.13% to $2.19 on October 15, trading 14.9 million shares. The company secured a U.S. patent allowance for its battery communication mesh network and will host a fleet electrification webinar on October 16, 2025. The funds raised are intended to scale dry electrode cell manufacturing and extend system integration services into heavy-duty and off-grid markets.
