Dragonfly energy reports first quarter 2023 financial results

Reno, nev., may 15, 2023 (globe newswire) -- dragonfly energy holdings corp. (“dragonfly energy” or the “company”) (nasdaq: dfli), an industry leader in energy storage and producer of deep cycle lithium-ion storage batteries, today reported its financial and operational results for the first quarter of 2023 ended march 31, 2023. first quarter 2023 financial highlights net sales of $18.8 million increased 2.7% from $18.3 million in q1 2022 gross profit of $4.7 million decreased $0.8 million from $5.5 million in q1 2022 operating expenses of $(14.6) million were higher compared to $(7.1) million in q1 2022 net income of $4.9 million, compared to a net loss of $(2.3) million in q1 2022 diluted earnings per share of $0.10 compared to $(0.06) in q1 2022 ebitda of $9.0 million, compared to $(1.4) million in q1 2022 operational and business highlights announced the launch of dragonfly intelligence™ providing reliable communication capabilities via unique mesh network, enabling accurate remote monitoring for entire lithium battery banks via the dragonfly energy mobile app announced partnership with airstream, which will provide battle born batteries as standard equipment across multiple models announced a commercial offtake agreement with ioneer ltd.
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