Despite headwinds in the RV market, Dragonfly Energy CEO Denis Phares said the company increased year-over-year revenues for the second consecutive quarter.
The company reported $13.4 million in net sales in the first quarter of 2025, up 6.8% from the first quarter of 2024.
Dragonfly’s net loss shrunk. The lithium battery supplier posted a loss of $6.8 million in the quarter, compared with a $10.4 million quarter a year earlier, a 34.6% improvement.
Phares said the company has increased its production capacity without needing more workers.
“We believe these operational improvements, together with the capital raise completed in February 2025,” Phares said, “provide the foundation for our path to revenue growth and profitability.”
Phares said Dragonfly Energy’s growing production capacity in the U.S. and its strategic onshoring of certain components will strengthen its position in a volatile tariff environment.
“In parallel, we are taking steps to mitigate tariff-related impacts,” he said, “by negotiating favorable terms with suppliers and working closely with key customers regarding potential price adjustments. We remain optimistic in our ability to navigate the current macro environment while continuing to execute on our growth initiatives.”
The company reported OEM net sales grew 10.8% in the quarter from the first quarter of 2024, driven by increased adoption of new models by existing customers.
