Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Q2 2024 Earnings Conference Call August 14, 2024 5:00 PM ET

Company Participants

Denis Phares - Chief Executive Officer
Wade Seaburg - Chief Revenue Officer

Conference Call Participants

George Gianarikas - Canaccord Genuity Corp
Chip Moore - ROTH Capital Partners LLC
Jeff Grampp - Alliance Global Partners

Operator

Good afternoon. My name is Marissa, and I will be your operator today for Dragonfly Energy's Second Quarter 2024 Earnings Call.

The call can be accessed, along with the earnings press release, and SEC filings on the Investors section of the Dragonfly Energy website found at www.dragonflyenergy.com. As a reminder, this conference call is being webcast and recorded. All attendees are in a listen-only mode at this time.

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 measure can be found in today's press release on the company's website.

I'll now turn the call over to Dragonfly Energy's CEO Dr. Denis Phares.

Denis Phares

Thank you, and thank you, to everyone, joining us today. With another quarter of growth under our belts, Dragonfly Energy continues to demonstrate our ability to diversify and progress our business in the face of difficult though slowly improving market conditions. We have historically leveraged our cutting-edge technology development with strong sales and marketing. And this quarter is no exception as we continue to lean into our strength to weather the realities of how higher interest rates affect consumer discretionary spending and consequently, our core markets. We have worked hard to diversify our downstream markets in preparation for more stable growth and a rapid path back to profitability. This has included our entrance into the heavy-duty trucking and oil and gas markets.

Over the course of the second quarter, we also negotiated and finalized a brand licensing deal for our Battle Born Batteries brand with one of the largest American energy storage companies, Stryten Energy. We were thrilled to be able to announce the closing of this deal at the end of July. We are extremely happy with the mutual benefits this collaboration is expected to bring.

For Dragonfly Energy, it means broad exposure for our Battle Born Batteries brand through B2B channels and into markets that were previously not even on our product road map. Stryten's vast distribution channels allow for mass brand proliferation with their reach extending to major retailers like Tractor Supply Company, Interstate, AutoZone and Continental Battery. These are the types of big box stores where we expect to see Battle Born Batteries products available for consumers to purchase in the future.