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dragonfly energy director resigns from board

Published 03/06/2025, 22:32
dragonfly energy director resigns from board
DFLI
12.02%

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI), currently trading at $0.40 and down over 95% in the past year, announced the resignation of Rick Parod from its Board of Directors, effective May 31, 2025. According to a recent SEC filing, Parod’s departure was not due to any disagreement with the company, its management, or the board. The company, based in Reno, Nevada, has not yet decided on a replacement for the vacant board position. InvestingPro data reveals the company faces significant financial challenges, with a debt-to-capital ratio of 0.90 and negative EBITDA of $23.9 million in the last twelve months. Dragonfly Energy, which operates in the electrical machinery and equipment sector, is listed on the Nasdaq Capital Market with a market capitalization of just $4 million. This information is based on a press release statement. Get deeper insights into DFLI’s financial health and 15 additional key ProTips with an InvestingPro subscription.

In other recent news, Dragonfly Energy Holdings Corp reported its first-quarter 2025 earnings, revealing a 6.8% increase in revenue year-over-year, reaching $13.4 million. Despite this growth, the company recorded a net loss of $6.8 million, equating to $0.93 per diluted share. The company’s gross margin improved by 500 basis points to 29.4%, although direct-to-consumer sales experienced a decline of 3.6%. Looking ahead, Dragonfly Energy projects a 12% revenue growth for the second quarter of 2025, with expected net sales of $14.8 million. However, the company anticipates an adjusted EBITDA loss of $3.5 million for the same period. The firm continues to focus on enhancing manufacturing efficiency and is making strides in the development of dry electrode and solid-state battery technologies. Additionally, Dragonfly Energy’s domestic production capabilities provide a strategic advantage amid ongoing tariff discussions.

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