Dragonfly Energy Holdings Corp

Good afternoon, and welcome to Dragonfly Energy Holdings' fourth quarter and full year 2022 earnings call. My name is Joelle, and I'll be your operator for today's call. As a reminder, this conference call is being recorded. At this time, all participants are in linoleum mode. I'll now turn the call over to John Marchetti, Chief Financial Officer of Dragonfly Energy. Please go ahead.

Thank you, operator, and welcome everyone to Dragonfly Energy's first earnings call as a public company. On the call with me today is Dr. Dennis Ferris, Chief Executive Officer of Dragonfly. We will be presenting the company's financial and operational results for the fourth quarter and full year of 2022, followed by a live question and answer session. A few quick reminders before we start. First, today's call is being webcast, which can be accessed along with our press release on the investor section of our company website, which can be found at www.DragonflyEnergy.com. Second, during this call, we'll be making forward-looking statements based on current expectations. Actual results may differ due to factors noted in today's release and in our periodic SEC filings. And finally, we will reference some non-GAAP financial measures. Reconciliations to the nearest corresponding GAAP measure can be found at today's release and on our website. With that, I will turn the call over to Dennis.

Thank you, John. And thank you to everyone joining us today for Dragonfly Energy's first earnings call. For those of you who are new to our story, I'll begin by taking a few minutes to provide some information about Dragonfly and what we do. Dragonfly is a uniquely comprehensive lithium-ion battery technology company. Our operations span the development of cell manufacturing processes, the design and assembly of battery packs, the integration of these packs and other innovative ancillary components into full energy storage systems, and the marketing and sales of these systems into a variety of consumer and industrial markets. Founded in 2012, initially as a developer of intellectual property focused on lithium-ion cell manufacturing, Dragonfly revolutionized an industry, making lithium-ion batteries more accessible for RVers while facilitating a completely off-grid experience for RV consumers. Our market share continues to increase within the RV, marine, and off-grid solar sectors, with total sales of $86 million in 2022, our fifth consecutive year of revenue growth since we began shipping product in 2017. Traditionally, the RV, marine, and off-grid markets have relied on lead-acid batteries, However, lead is toxic and remains a problem in our environment. As a result, the markets we have entered were ripe for a change as Dragonfly's technology supports the conversion to green, renewable energy. When compared to lead-acid alternatives, our Dragonfly and Battleboard batteries are environmentally safer. They provide two to three times more power, last over ten times longer, are one-fifth the weight, charge faster, and require no maintenance. We are proud of our innovations and growth to date, and we look forward to further expansion. We market our deep-cycle lithium-ion batteries under two brands. The first is our Dragonfly Energy brand, which serves our original equipment manufacturing customers and partners, such as the Thor family of recreational vehicles. And the second is our direct-to-consumer retail brand named Battle Born Batteries, which was named after the battle-born state of Nevada, where we are headquartered. In addition to our branded batteries, we are also designers and resellers of accessories, making us full system integrators for our customers. Our acquisition last year of Wake Speed Offshore allowed us to better integrate our storage systems with vehicle engines and alternators. And innovations in battery pack monitoring and communication sets the stage for systems targeted for larger stationary storage applications. As a result, today we are recognized as not only the experts in lithium ion batteries, but on entire lithium battery storage systems. We have a robust patent portfolio, and we continue to innovate, including Dragon 5's dry powder coating cell manufacturing technology and non-flammable battery technology, for which we have already begun production of the cell pilot line. And we are targeting commencement of cell manufacturing here in the United States in 2024. Before discussing our non-flammable technology and some of our other operational highlights, I will turn the call over to John to provide a review of our financial and operational results, as well as our outlook for the first quarter and full year of 2023. Thank you, Dennis.