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Dragonfly Energy Holdings cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.2M in Q2 2026 · −$29.7M over twelve months

Operating cash flow−$1.9M
Capital spending−$361K
Free cash flow−$2.2M
Cash conversion cycle165 days

Analysis

In Q2 2026, Dragonfly Energy Holdings generated −$1.9M of operating cash flow and spent $361K on capital projects, leaving free cash flow of −$2.2M. That is $2.0M more than in Q2 2025 (−$4.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$28.7M; the largest uses were operating cash flow ($28.7M), capital spending ($968K), other investing ($131K); besides operations, cash came from other financing ($33.4M); the cash balance rose by $3.5M.

Operating cash flow was −$1.9M against net income of −$4.4M. The largest differences: inventory +$4.0M, payables −$1.7M, prepaid and other assets −$615K.

Its cash conversion cycle was 165 days (receivables 22 + inventory 230 − payables 88).

Free cash flow

Dragonfly Energy Holdings: free cash flow by quarterDragonfly Energy Holdings: free cash flow by quarter$2.4MQ3 2024−$3.5MQ4 2024−$5.3MQ1 2025−$4.2MQ2 2025−$3.6MQ3 2025−$14.9MQ4 2025−$9.1MQ1 2026−$2.2MQ2 2026
Operating cash flow less capital spending.
Dragonfly Energy Holdings: operating cash flow against capital spendingDragonfly Energy Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$2.7M$367KQ3 2024−$2.5M$993KQ4 2024−$4.5M$778KQ1 2025−$3.4M$843KQ2 2025−$3.4M$187KQ3 2025−$14.7M$141KQ4 2025−$8.8M$279KQ1 2026−$1.9M$361KQ2 2026
Latest (Q2 2026): Operating cash flow −$1.9M, Capital spending $361K.

Capital allocation, year by year

Dragonfly Energy Holdings: where the cash came from (up) and went (down), by fiscal yearDragonfly Energy Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$13.6MFY2021: Net borrowing $45.0MFY2021: Shares issued $126MFY2021: Asset sales $61KFY2021: Capital spending −$3.0M$171MFY2021FY2022: Operating cash flow −$45.7MFY2022: Net borrowing −$45.0MFY2022: Shares issued $15.7MFY2022: Asset sales $35KFY2022: Capital spending −$6.9M$15.7MFY2022FY2023: Operating cash flow −$17.7MFY2023: Shares issued $22.2MFY2023: Capital spending −$6.9M$22.2MFY2023FY2024: Operating cash flow −$7.2MFY2024: Net borrowing $2.7MFY2024: Shares issued $4KFY2024: Asset sales $8KFY2024: Capital spending −$2.7M$2.7MFY2024FY2025: Operating cash flow −$26.0MFY2025: Net borrowing −$67.7MFY2025: Shares issued $90.9MFY2025: Capital spending −$1.9M$90.9MFY2025
Over these 5 years operating cash flow totalled −$110M; the largest uses were net borrowing ($113M) and operating cash flow ($110M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.3M
Debt$18.9M
Net debt$12.6M
Due within a year$506K
Cash runway3 months

Dragonfly Energy Holdings is burning cash: its operations consume cash, a free cash flow of −$29.7M a year at the current rate against $6.3M of cash and investments: a runway of about 3 months; $506K of debt also comes due within a year, which would need refinancing or new money before any new financing.

Where the cash came from and went

Dragonfly Energy Holdings: sources (+) and uses (−) of cash, Q2 2026Dragonfly Energy Holdings: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$2.4MOperating cash flow−$1.9MOther financing$742KDividends−$501KCapital spending−$361KNet borrowing (+) / repaid (−)−$249KOther investing−$131K
Dragonfly Energy Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Dragonfly Energy Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$33.4MOperating cash flow−$28.7MCash drawn (+) / kept (−)−$3.5MCapital spending−$968KOther investing−$131KNet borrowing (+) / repaid (−)−$48K

From profit to cash

Dragonfly Energy Holdings: net income to operating cash flow, Q2 2026Dragonfly Energy Holdings: net income to operating cash flow, Q2 2026Net income−$4.4MDepreciation & amortization$453KStock-based pay$461KReceivables−$538KInventory$4.0MPayables−$1.7MDeferred revenue−$4KPrepaid and other assets−$615KOperating cash flow−$1.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20262223088165
Q1 202633273110197
Q4 20253220296138
Q3 20252417989114
Q2 20252216789100
Q1 202522207113116
Q4 20242321799141
Q3 20242424696174

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.9M−$361K−$501K−$249K—$2.4M−$2.2M
Q1 2026−$8.8M−$279K−$317K−$253K—$9.6M−$9.1M
Q4 2025−$14.7M−$141K—−$12K$78.9M−$14.4M−$14.9M
Q3 2025−$3.4M−$187K—−$12K—−$1.1M−$3.6M
Q2 2025−$3.4M−$843K—−$12K$4.2M$70K−$4.2M
Q1 2025−$4.5M−$778K—−$11K$3.2M$2.0M−$5.3M
Q4 2024−$2.5M−$993K—−$18K—$3.2M−$3.5M
Q3 2024$2.7M−$367K——$1K−$3.3M$2.4M

Dragonfly Energy Holdings: income statement and cash flow

Dragonfly Energy Holdings, Q2 2026: revenue $13.2M (-19% year over year), operating margin -22.0%. The chart follows the revenue to costs, profit and cash.

Dragonfly Energy Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.