Dragonfly Energy Holdings Corp. (DFLI) Q3 2023 Earnings Call Transcript

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Q3 2023 Results Conference Call November 13, 2023 5:00 PM ET

Company Participants

Denis Phares - CEO
John Marchetti - CFO

Conference Call Participants

George Gianarikas - Canaccord Genuity
Vincent Anderson - Stifel
Brian Dobson - Chardan
Jeff Grampp - Alliance Global Partners

Operator

Good afternoon. My name is Lester, and I will be your operator today for Dragonfly Energy's Third Quarter Earnings Call. The call can be accessed along with the earnings press release and SEC filings on the Investors section of the Dragonfly Energy's website found at www.dragonflyenergy.com. As a reminder, this conference call is being webcast and recorded. [Operator Instructions]

During this call, the company will be making forward-looking statements based on current expectations. Actual results may differ due to factors noted in the press release and in periodic SEC filings. Management will reference some non-GAAP financial measures. Reconciliations to the nearest corresponding GAAP measures could be found in today's release on the company's website.

I will now turn over the call to Dr. Denis Phares.

Denis Phares

Thank you, and thank you to everyone joining us today. Before handing the call over to John to review our third quarter financial results, I wanted to spend a few minutes providing an update on our core markets, our progress and our revenue diversification efforts and to highlight the important milestones that we have achieved in our domestic battery cell manufacturing operation.

As many of you know, the majority of our revenue today comes from the recreational vehicle market, either through aftermarket sales or through OEMs, when they place our storage solutions on their RVs during the manufacturing process. The RV industry, which is dependent on consumer discretionary spending, continues to face significant challenges with unit shipments down over 50% year-over-year, well below the industry's expectations just a few quarters ago.