Dragonfly Energy Holdings Corp.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
DFLI$1.83+5.2%Stored close · as of Nov 6, 2026
Contents
Item 1. Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024
Dragonfly Energy Holdings Corp.
Unaudited Condensed Consolidated Statements of Cash Flows
For The Nine Months Ended September 30, 2025 and 2024
(in thousands)
| 2025 | 2024 | |
|---|---|---|
| Cash flows from Operating Activities | ||
| Net Loss | $(24,901) | $(30,773) |
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities | ||
| Stock based compensation | 578 | 759 |
| Amortization of debt discount | 5,240 | 4,490 |
| Change in fair market value of warrant liability | (4,624) | (3,130) |
| Non-cash interest expense (paid-in kind) | 11,233 | 6,590 |
| Provision for credit losses | 87 | 40 |
| Depreciation and amortization | 1,810 | 991 |
| Amortization of right of use of assets | 1,948 | 1,585 |
| Loss on disposal of property and equipment | 156 | - |
| Loss on impairment of right-of-use assets | 454 | - |
| Changes in Assets and Liabilities | ||
| Accounts receivable | (2,463) | (2,128) |
| Inventory | (1,002) | 14,765 |
| Prepaid expenses | (43) | 38 |
| Prepaid inventory | 125 | (365) |
| Other current assets | 61 | (635) |
| Other assets | (6) | (445) |
| Income taxes payable | (4) | 174 |
| Accounts payable and accrued expenses | 3,780 | (969) |
| Operating lease liabilities | (2,160) | (661) |
| Accrued tariffs | (324) | 168 |
| Accrued settlement | (375) | - |
| Deferred revenue | (750) | 4,833 |
| Customer deposits | (65) | (12) |
| Total Adjustments | 13,656 | 26,088 |
| Net Cash Used in Operating Activities | (11,245) | (4,685) |
| Cash Flows From Investing Activities | ||
| Purchase of property and equipment | (1,808) | (1,691) |
| Net Cash Used in Investing Activities | (1,808) | (1,691) |
Unaudited Condensed Consolidated Statements of Cash Flows (continued)
For The Nine Months Ended September 30, 2025 and 2024
(in thousands)
| (continued from previous page) · 2025 · 2024 | ||||
|---|---|---|---|---|
| Cash Flows From Financing Activities | ||||
| Proceeds from public offering (ATM), net | 63 | 1,705 | ||
| Proceeds from public offering, net | 4,684 | - | ||
| Proceeds from preferred stock offering, net of fees | 7,330 | - | ||
| Proceeds from note payable, related party | - | 2,700 | ||
| Repayment of note payable, related party | - | (2,700) | ||
| Proceeds from exercise of options | - | 4 | ||
| Principal payment on finance leases | (35) | (27) | ||
| Net Cash Provided by Financing Activities | 12,042 | 1,682 | ||
| Net Change in cash and cash equivalents | (1,011) | (4,694) | ||
| Cash and cash equivalents - beginning of period | 4,849 | 12,713 | ||
| Cash and cash equivalents - end of period | $3,838 | $8,019 | ||
| Supplemental Disclosures of Cash Flow Information: | ||||
| Cash paid for income taxes | $4 | $ | - | |
| Cash paid for interest | $4 | $4,782 | ||
| Supplemental Non-Cash Items | ||||
| Purchases of property and equipment, not yet paid | $16 | $2,460 | ||
| Recognition of right of use asset obtained in exchange for operating lease liability | $642 | $18,653 | ||
| Recognition of leasehold improvements obtained in exchange for operating lease liability | $ | - | $4,683 | |
| Recognition of warrant liability - Investor Warrants | $696 | $6,381 | ||
| Conversion of preferred stock to common stock | $7,330 | $ | - | |
| Settlement of accrued liability for employee stock purchase plan | $73 | $112 | ||
| Reclassification of assets held for sale to machinery and equipment | $644 | $ | - | |
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