Dragonfly Energy Shares Drop After Q2 Earnings Miss, Weak Q3 Outlook
Portfolio Pulse from Shivani Kumaresan
Dragonfly Energy Holdings Corp (NASDAQ:DFLI) reported a Q2 FY23 sales decline of 10.6% YoY to $19.27 million, missing the analyst consensus of $20.80 million. The company's gross profit for Q2 dropped 41.7% to $4.1 million, and the net loss for the quarter expanded to $(11.7) million from $(1.5) million last year. The company's Q3 outlook is also weak, with expected revenue of $16 million - $20 million, significantly lower than the consensus estimate of $36.35 million.
August 22, 2023 | 11:16 am
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Dragonfly Energy's Q2 FY23 results missed analyst expectations, with a significant decline in sales and profits. The company's weak Q3 outlook, with expected revenue significantly lower than consensus estimates, could further impact the stock negatively.
Dragonfly Energy's Q2 FY23 results missed analyst expectations, with sales declining by 10.6% YoY and gross profit dropping by 41.7%. The company's net loss also expanded significantly. Furthermore, the company's Q3 outlook is weak, with expected revenue significantly lower than consensus estimates. These factors are likely to negatively impact investor sentiment and put downward pressure on the stock in the short term.
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