Filing Flows › Dragonfly Energy Holdings (DFLI) › Q3 2025
Dragonfly Energy Holdings (DFLI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Dragonfly Energy Holdings (DFLI) reported revenue of $16.0M for the third quarter 2025 (Q3 2025), +26% from a year earlier and -2% from the quarter before. Operating margin was -23.7%, net loss $11.1M (69.3% of revenue).
Dragonfly Energy Holdings, Q3 2025: revenue $16.0M (+26% year over year), operating margin -23.7%, net loss $11.1M, operating cash flow −$3.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.0M | -2% | +26% |
| Operating profit | −$3.8M | — | — |
| Net earnings | −$11.1M | — | — |
| Operating cash flow | −$3.4M | — | — |
What changed
Revenue was $16.0M in Q3 2025, up 26% year over year and down 2% from the previous quarter. Original Equipment Manufacturers was the largest line at 67% of revenue. Original Equipment Manufacturers added $3.3M year over year (up 44%), 101% of the total change. Direct to Consumers declined 2%.
Gross margin was 29.7%, up 7.1 points from a year earlier. Operating costs exceeded revenue by $3.8M, an operating margin of -23.7%. Operating expenses fell 4% while revenue rose 26%. The fastest-growing cost line was General & admin (+22%). The quarter ended with a net loss of $11.1M, wider than the previous quarter's $7.0M loss. Net interest and other expense of $7.3M was the main reason.
Operating cash flow was −$3.4M. Non-cash charges added back $460K of depreciation and amortization and $168K of share-based compensation. Working capital and other items added $7.1M. Capital expenditures of $187K exceeded it, leaving free cash flow of −$3.6M.
Questions
What was Dragonfly Energy Holdings' revenue in the third quarter 2025?
Dragonfly Energy Holdings (DFLI) reported revenue of $16.0M for the third quarter 2025 (Q3 2025), +26% from a year earlier and -2% from the quarter before.
Was Dragonfly Energy Holdings profitable in the third quarter 2025?
Operating loss was $3.8M (-23.7% of revenue) and net loss $11.1M.