Dragonfly Energy Posts $9.7M Q1 Sales, Lands $3M Trucking Order
Dragonfly Energy reported Q1 net sales of $9.7 million and an adjusted EBITDA loss of $4.6 million, exceeding its guidance. The company secured a $3 million Stevens Transport order for nearly 500 heavy-duty trucks and forecasts Q2 net sales of $13.2 million with a $1.9 million adjusted EBITDA loss as cost cuts take effect.
1. First Quarter Financial Results
Dragonfly Energy reported net sales of $9.7 million for Q1 2026, including $5.8 million from OEM partnerships and $3.7 million from direct-to-consumer channels. Gross margin declined to 17.6% from 29.4% due to lower unit volumes, resulting in an adjusted EBITDA loss of $4.6 million and a net loss of $7.7 million attributable to common shareholders.
2. Stevens Transport Purchase Order
Following quarter-end, Stevens Transport placed a purchase order exceeding $3 million for battery systems across nearly 500 heavy-duty trucks. This marks one of the largest single-fleet adoptions of Dragonfly’s commercial trucking solutions, underscoring the transition from pilot programs to scaled fleet deployment.
3. Outlook and Cost Reduction Initiatives
Targeted cost reduction measures lowered operating expenses from $9.8 million to $7.4 million in Q1, and are expected to drive a $2.7 million sequential improvement in adjusted EBITDA in Q2. The company guides to Q2 net sales of $13.2 million and an adjusted EBITDA loss of $1.9 million, aiming for profitability at an annualized $70 million sales run rate.