Filing Flows › Dragonfly Energy Holdings (DFLI) › Q4 2025
Dragonfly Energy Holdings (DFLI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Dragonfly Energy Holdings (DFLI) reported revenue of $13.1M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -18% from the quarter before. Operating margin was -78.1%, net loss $45.0M (344.9% of revenue).
Dragonfly Energy Holdings, Q4 2025: revenue $13.1M (+7% year over year), operating margin -78.1%, net loss $45.0M, operating cash flow −$14.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.1M | -18% | +7% |
| Operating profit | −$10.2M | — | — |
| Net earnings | −$45.0M | — | — |
| Operating cash flow | −$14.7M | — | — |
What changed
Revenue was $13.1M in Q4 2025, up 7% year over year and down 18% from the previous quarter. Original Equipment Manufacturers was the largest line at 62% of revenue.
Gross margin was 18.2%, down 2.6 points from Q4 2024. Operating costs exceeded revenue by $10.2M, an operating margin of -78.1%. Operating expenses grew 30% against revenue growth of 7%. The fastest-growing cost line was Sales & marketing (+47%). The quarter ended with a net loss of $45.0M, wider than the previous quarter's $11.1M loss. Net interest and other expense of $34.9M was the main reason.
Operating cash flow was −$14.7M. Non-cash charges added back $426K of depreciation and amortization and $136K of share-based compensation. Working capital and other items added $29.8M. Capital expenditures of $141K exceeded it, leaving free cash flow of −$14.9M.
Questions
What was Dragonfly Energy Holdings' revenue in the fourth quarter 2025?
Dragonfly Energy Holdings (DFLI) reported revenue of $13.1M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -18% from the quarter before.
Was Dragonfly Energy Holdings profitable in the fourth quarter 2025?
Operating loss was $10.2M (-78.1% of revenue) and net loss $45.0M.