Why Dragonfly Energy Shares Are Rocketing Premarket Tuesday
Portfolio Pulse from Lekha Gupta
Dragonfly Energy Holdings Corp (NASDAQ:DFLI) shares surged in premarket trading after reporting Q4 FY23 results. Despite sales declining to $10.4 million from $20.2 million and missing consensus estimates, the company saw an improvement in adjusted EBITDA and reported a net income of $3.0 million, contrasting with a net loss of $(32.5) million a year ago. EPS was $0.05, beating the consensus estimate of $(0.20). The company is optimistic about 2024, citing advancements in battery cell production and market expansions. Dragonfly forecasts Q1 revenue between $12.0 million and $13.0 million, with an EPS of $(0.13) to $(0.17), and highlights potential growth in the RV and heavy-duty trucking markets.
April 16, 2024 | 10:55 am
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Dragonfly Energy reported a significant improvement in Q4 FY23 with a net income of $3.0 million and an EPS of $0.05, beating estimates. The company is optimistic about future growth, especially with its new battery technology and market expansions.
Despite the decline in sales, Dragonfly Energy's significant improvement in net income and EPS, along with positive future outlook and technological advancements, are likely to boost investor confidence and potentially increase stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100