Dragonfly Energy Reports Third Quarter 2026 Results

Denis Phares, Chief Executive Officer of Dragonfly Energy

“Third quarter heavy-duty trucking revenue more than doubled sequentially to $1.3 million, in line with our August outlook, driven by expanding commercial fleet adoption. For the first time, we received orders from fleets moving directly into commercial deployment without a pilot program, reflecting the credibility we have established through years of field validation. Based on our current order book, we expect trucking revenue to nearly double again in the fourth quarter on a sequential basis. Persistently high diesel prices are also driving greater urgency among fleets seeking to offset fuel costs, and we believe Dragonfly’s commercial trucking portfolio positions us well to capitalize on this opportunity.”

Denis Phares, Chief Executive Officer of Dragonfly Energy

“RV market conditions remained challenging, which drove net sales below our expectations. However, adoption within our premium OEM partnerships remains healthy, as customers continue to standardize lithium systems and increase energy storage content across their product lineups.”

Denis Phares, Chief Executive Officer of Dragonfly Energy

“Following our acquisition of Dakota Lithium at the end of July, we have been rebuilding inventory, re-engaging its dealer and distribution network, and strengthening its e-commerce capabilities. Early demand has been encouraging. We expect new inventory to begin arriving toward the end of the fourth quarter, with broader availability and a more meaningful revenue contribution beginning in the first quarter of 2027. We also expect Dakota to be accretive to Adjusted EBITDA as we leverage our existing infrastructure with minimal incremental overhead.”

Denis Phares, Chief Executive Officer of Dragonfly Energy

“Looking ahead to the fourth quarter, we expect trucking revenue to nearly double sequentially as existing fleet customers expand their deployments and we onboard new fleets. While RV market conditions remain challenging, we expect continued progress in trucking and Dakota Lithium, combined with our ongoing cost-reduction initiatives, to support our path toward profitability. We also anticipate broader product availability and a more meaningful revenue contribution from Dakota Lithium beginning in the first quarter of 2027, with the acquisition expected to be accretive to Adjusted EBITDA as we leverage our existing infrastructure. We remain focused on achieving sustainable positive Adjusted EBITDA, supported by continued growth in trucking, Dakota Lithium, and ongoing cost efficiencies.”